Compression Therapy Market: Growth, Size, Share, and Trends

In the last decade, the orthopedic industry has witnessed significant technological advancements that have enabled surgeons to carry out advanced orthopedic procedures, such as arthroscopic surgery (a minimally invasive surgery), total hip reconstruction procedures, minimally invasive disc surgery, and spinal fusion procedures for degenerative disorders. These advancements have played a major role in improving the quality of life for patients with painful and disabling conditions affecting the musculoskeletal system. Some other statistics related to orthopedic procedures include: Over 600,000 knee replacements are performed each year in the US (Source: Agency for Healthcare Research and Quality). By 2030, the total number of knee replacement surgeries in the US will grow by 673% to reach 3.5 million procedures per year (Source: American Academy of Orthopaedic Surgeons). Around 300,000 spinal fusion surgeries are performed annually in the US (Source: Imaging of the Post-operative Spine, an issue of Neuroimaging Clinics). The demand for various orthopedic procedures is expected to increase in the coming years, owing to the rising geriatric population. Since a majority of compression therapy products are used for the rehabilitation and faster recovery of patients after orthopedic surgeries, these trends are expected to support the growth of the compression therapy market during the forecast period.

DThe lack of uniform international pressure standards for compression therapy garments can create confusion when selecting the appropriate garment for treating various medical conditions. Different countries have established their own standards, such as the German RAL, the French ASQUL, and British standards, each with varying pressure specifications. For example, according to the British, French, and German standards, Class I compression hosiery should apply pressures of 14–17 mmHg, 15 mmHg, and 18–21 mmHg, respectively. Additionally, the US FDA does not have established standards for compression garments. Currently, the pressure exerted by stockings is determined by manufacturers on the basis of their laboratory measurements due to the lack of uniform standards for graduated compression stockings worldwide. In addition, factors such as the elasticity and stiffness of stocking material and the size and shape of a patient’s legs can affect the overall pressure exerted by the garment. Considering the lack of uniform standards in the market, a wide range of products are offered at different price points with varying levels of medical efficacy. The varying efficacy of these products can potentially hamper customer trust in compression therapy, thereby restraining the growth of this market.

Emerging economies such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities for players operating in the compression therapy market during the forecast period. Factors such as the presence of a large patient population, rising healthcare expenditure, increasing disposable income levels, and growing awareness among physicians, surgeons, and patients about the latest treatment options available for various orthopedic and vascular disorders are expected to drive the demand for compression therapy products in these countries. Asia is home to a large and rapidly growing patient population for target diseases, such as diabetes and cancer. Moreover, the geriatric population in Asia is expected to increase significantly in the coming years, which will further increase the prevalence of target diseases in the region. For instance, between 2015 and 2040, the diabetic population in Southeast Asia is estimated to increase from 78.3 million to 140.2 million; this figure is expected to increase from 153.2 million to 241.8 million across Western Pacific countries during the same period (Source: IDF). Considering the potential growth opportunities in these regions, prominent and emerging product manufacturers in the orthopedic and medical device industries are increasingly focusing on expanding their business across emerging Asian and LATAM countries to increase their profitability and strengthen their presence in the global compression therapy market

Several treatment options, including surgeries, ablation procedures, sclerotherapy, and ligation, are available for chronic venous diseases such as chronic venous insufficiency, varicose veins & spider veins, leg swelling and pain, and leg ulcers. Although compression therapy is considered the first-line treatment for these diseases, several alternative therapies offer benefits (over compression therapy) such as few or no complications, minimal pain during and after treatment, and reduced hospital stay. Also, unlike compression therapy, these alternative therapies cure the disease and not just the symptoms. For instance, varicose veins are mainly treated with ablation procedures, such as laser and radiofrequency ablation. These ablation procedures are performed with local anesthetics and typically require no sedation. Likewise, DVT is commonly treated with anticoagulants such as heparin and warfarin. Considering the potential benefits of these alternative therapies, their preference has increased among patients as well as healthcare providers over the years. This is considered a major challenge for the growth of the compression therapy market.