DJO Global, Inc. (US) and BSN medical (Germany) are Leading Players in the Compression Therapy Market
The global compression therapy market is expected to reach USD 4.9 billion by 2027 from an estimated USD 3.7 billion in 2022, at a CAGR of 5.5% from 2022 to 2027.
Factors driving the growth of this market includes the increasing presence of a target patient population, increasing cases of venous ulcer, rising number of sports related accidents and growing number of orthopedic procedures worldwide.
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However, low patient compliance for compression garments and the lack of universally accepted standards for compression products are anticipated to hinder the growth of the market.
Some of the prominent players in the compression therapy market include DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M (US), ConvaTec Inc. (US), ArjoHuntleigh (Sweden), Julius Zorn GmbH (Germany), Bio Compression Systems, Inc. (US), Cardinal Health, Inc. (US), and Smith & Nephew plc (UK) among others.
An analysis of market developments between 2019 and 2022 revealed that several growth strategies such as partnerships & agreements, joint ventures, and strategic acquisitions were adopted by market players to strengthen their service portfolios and maintain a competitive position in the compression therapy market.
DJO (US)
was a key player in the compression therapy market. The company offers several compression therapy products, such as compression garments, devices, and pumps for various chronic diseases. Its products are sold under various brands, such as DVT, Bell-Horn, and Aircast. DJO focuses on acquisitions to expand its product offerings in the compression therapy market. The company has acquired several distributors in various locations, including Australia, Canada, South Africa, and Tunisia. This has helped the company to expand its geographical reach and control the distribution and sales of its products in these countries.
BSN medical (Germany)
BSN medical is one of the leading players in the compression therapy market. BSN Medical focuses on acquisitions, product launches, and agreements to strengthen its position and increase its share in the compression therapy market. To create a market presence in Colombia, Canada, Brazil, Australia, Austria, and Japan, the company entered into joint venture agreements with Ortopédicos Futuro Colombia SAS (Colombia) and Terumo Medical Corporation (Japan). The company also collaborated with NASA to develop compression garments for astronauts to reduce the risk of rapid heart rate, low blood pressure, and lightheadedness post a long-duration spaceflight. Such initiatives help the company create a strong brand image in the compression therapy market
Related Reports:
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) - Global Forecast to 2027
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