Compression Therapy Market by Technique, Product (Bandages, Wraps, Stockings, Tapes, Ortho Braces, Pump), Application (Varicose Vein, DVT, Lymphedema Ulcer), Distribution Channel (Hospitals, Clinics, Pharmacies, E-Commerce) & Region - Global Forecast to 2027
The global compression therapy market in terms of revenue was estimated to be worth $3.7 billion in 2022 and is poised to reach $4.9 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The large target patient population and the rising incidence of sports injuries and accidents are the major factors driving the growth of this market. Moreover, a strong focus by players on expanding their product offerings in compression therapy is anticipated to support the growth of the market. However, poor patient compliance with compression products is expected to restrain the growth of this market during the forecast period.
Attractive Opportunities in Compression Therapy Market
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Compression therapy Market Dynamics
Driver: Growing incidence of sports injuries and accidents
Road accidents and sports injuries are among the major causes of death and disability across the globe. Accident cases are often associated with severe or mild injuries to the skeletal system. In such cases, compression therapy products are generally used to support the healing process and promote faster patient recovery.
Globally, an increasing number of people are actively participating in sports and physical activities (as a result of the growing awareness about health and fitness). This trend has, in turn, increased the incidence of sports injuries and injuries related to other physical fitness activities. In the US alone, ~8.6 million sports injuries are registered annually (source: US Department of Health and Human Services, data as of 2021).
Restraint: Low patient compliance with compression garments
Patient non-compliance with compression products and non-adherence to treatment protocols are the common issues related to compression therapy. Noncompliance is especially high in long-term treatments, where the primary goal is to prevent the occurrence of a specific condition (such as the occurrence or reoccurrence of ulcers). Since compression therapy is generally used as a preventive therapy in a majority of cases, the compliance rate of patients with the therapy decreases over time. Moreover, conditions such as pain, swelling, and skin irritation are associated with the regular use of compression garments.
Opportunity: Increased sales of off-the-shelf and online products
Some products (such as low-pressure compression stockings, bandages, and wraps) are increasingly being sold through pharmacies, retailers (off-the-shelf), and e-commerce websites since their use does not require authorization from medical professionals. Such products are regularly used by patients as preventive measures to avoid injuries.
Increasing sales of compression products through e-commerce websites and off-the-shelf channels across mature markets are expected to offer significant growth opportunities for the manufacturers of compression therapy products.
Compression bandages segment accounted for the largest market share of the compression therapy industry, by product.
Based on product, the global compression therapy market is segmented into compression bandages, compression wraps, compression stockings, compression tapes, compression pumps, compression braces, and other compression garments. The market is segmented into compression garments, compression braces, and compression pumps. In 2021, compression bandages are expected to account for the largest share of the global market.
Compression bandages are the first line of treatment for venous diseases and are used to prevent their recurrence during compression therapy. The increasing prevalence of diabetes and the rising geriatric population prone to venous ulcers, foot ulcers, varicose veins, and edema, along with the growing availability of compression bandages in the market, are expected to support the growth of the compression bandages market during the forecast period.
Varicose vein treatment segment accounted for the largest market share of the compression therapy industry by application.
On the basis of application, the compression therapy market is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The varicose vein treatment segment accounted for the largest market share of the global market during the forecast period, with high preference for compression therapy as the first line of therapy for the treatment and management of varicose veins among end users.
Moreover, the demand for compression therapy products in varicose vein treatment is expected to witness significant growth during the forecast period owing to the growing prevalence of varicose veins as well as the increasing prevalence of major risk factors, such as age-related degeneration, obesity, and hypertension.
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The Asia Pacific region of compression therapy industry is expected to grow at the highest CAGR during the forecast period
The compression therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America is expected to account for the largest share of the global market.
Asia Pacific is projected to register the highest growth during the forecast period. This can primarily be attributed to the rising geriatric population along with the growing significant prevalence of orthopaedic and diabetes-related diseases in this population in Asian countries, especially in China and India.
Moreover, the rising per capita healthcare expenditure across emerging Asian countries, increasing localized product manufacturing, and the increasing focus of global product manufacturers on expanding their presence in APAC countries are also supporting the growth of the compression therapy market in Asia Pacific during the forecast period.
The major players in the compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Sanyleg S.r.l. (Italy), 3M Company (US), ConvaTec Inc. (US), ArjoHuntleigh (Getinge Group, Sweden), and Julius Zorn GmbH (Germany).
Scope of the Compression Therapy Industry
|
Report Metric |
Details |
|
Market Revenue in 2022 |
$3.7 billion |
|
Projected Revenue by 2027 |
$4.9 billion |
|
Revenue Rate |
Poised to grow at a CAGR of 5.5% |
|
Market Driver |
Growing incidence of sports injuries and accidents |
|
Market Opportunity |
Increased sales of off-the-shelf and online products |
This study categorizes the global compression therapy market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Compression Bandages
- Compression Wraps
-
Compression Stockings
- Class I
- Class II
- Class III
- Compression Tapes
-
Compression Pumps
- Intermittent Pumps
- Sequential Pumps
- Compression Braces
- Other Compression Garments*
- * Other compression garments include foot caps, arm sleeves, gauntlets, compression shirts & bras, chin straps, face masks, and abdominal gloves
By Technique
- Static Compression Therapy
- Dynamic Compression Therapy
By Application
- Varicose Vein Treatment
- Deep Vein Thrombosis Treatment
- Lymphedema Treatment
- Leg Ulcer Treatment
- Other Applications**
- Other applications include obstetric applications, rehabilitation/preventive care, aesthetic applications, orthopedic applications, and treatment/management of sports injuries.
By Distribution Channel
- Pharmacies & Retailers
- Hospitals & Clinics
- E-Commerce Platforms
- Home Care Settings
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- RoE
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- RoAPAC
-
Latin America
- Brazil
- Mexico
- RoLA
- Middle East & Africa
Recent Developments of Compression Therapy Industry
- In 2022, DJO acquired the EXCYABIR hip brace and the CryoKnee knee brace from Outcome-based Technologies to build its portfolio of bracing solutions, specifically in the fast-growing hip bracing category.
- In 2021, Essity acquired with ABIGO Medical. The acquisition added to the company’s wound care product portfolio.
- In 2021, DJO acquired MedShape, Inc. (US). This acquisition will strengthen DJO’s portfolio of fracture fixation, joint fusion, and soft tissue injury repair products, which utilize biomaterial technologies designed to improve patient outcomes.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global compression therapy market?
The global compression therapy market boasts a total revenue value of $4.9 billion by 2027.
What is the estimated growth rate (CAGR) of the global compression therapy market?
The global compression therapy market has an estimated compound annual growth rate (CAGR) of 5.5% and a revenue size in the region of $3.7 billion in 2022.
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This study involved four major activities in estimating the current size of the compression therapy market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to determine the market size of the segments and sub-segments.
Secondary Research
The secondary sources referred to in this research study include corporate filings (such as annual reports, SEC filings, investor presentations, and financial statements); research journals; and press releases; trade, business, and professional associations. Secondary sources were used to identify and collect useful information for this extensive and commercial study of the global market. Secondary research was mainly used to obtain key information about the industry’s total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, market trends, and critical developments by both the public and private organizations in the compression therapy market.
The secondary sources referred to for this research study include government sources, independent or public sources, paid/private databases, and research databases, among others. Secondary data was collected and analyzed to arrive at the overall market size of the compression therapy market, which was further validated by primary research. Some of the key secondary sources referred to during the preparation of this report are listed below-
- Governmental and Intergovernmental Sources & Databases such as World Health Organization (WHO), World Bank, Organisation for Economic Co-operation and Development (OECD), Centers for Disease Control and Prevention (CDC), National Health Service (NHS) among others
- Business and Research Articles: Springer Nature, The Lancet, PubMed, and US National Library of Medicine, among others
- Company Sources: Annual reports, SEC filings, regulatory filings, investor presentations, press releases, and financial statements, among others.
Primary Research
Extensive primary research was conducted after acquiring knowledge about the compression therapy market scenario. The compression therapy market comprises several stakeholders, such as end-product manufacturers, raw material providers, and end-users in the supply chain. The demand side of this market is characterized by its end-users, such as hospitals & clinics, pharmacies and retailers, e-commerce platforms, among others. The supply-side is characterized by raw material providers, integrators, and others. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
A breakdown of the primary respondents is provided below:
*C-level primaries include CEOs, CFOs, COOs, and VPs.
**Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue; as of 2021, Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion.
Source: MarketsandMarkets Analysis
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the compression therapy market and its dependent submarkets. These methods were also used extensively to determine the extent of various sub-segments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and demand have been identified through extensive secondary research, and their market share has been determined through both primary and secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All the possible parameters that affect the market segments covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
- The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
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Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the end-use industries.
Report Objectives
- To define, describe, and forecast the compression therapy market based on product, technique, application, distribution channel, and region
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges)
- To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the revenue of the market segments with respect to five major regions and their countries—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To strategically profile the key global players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as product launches, upgrades, and approvals; partnerships, agreements, and collaborations; acquisitions; and expansions in the compression therapy market
- To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes players on various parameters within the broad categories of business and product excellence strategy
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the compression therapy market report:
Product Analysis
- Product Matrix, which gives a detailed comparison of the product portfolios of the top 5 companies
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
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Growth opportunities and latent adjacency in Compression Therapy Market
Global Compression Therapy Market Size, Forecast 2026. Its data on Market Projection By Technology, Major key players, Growth, Revenue, CAGR, Regional Analysis, Industry Forecast
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