Compression Therapy Market

Market Leaders - Compression Therapy Market

The compression therapy market size is expected to grow from an estimated USD 3.0 billion in 2021 to USD 3.9 billion by 2026, at a CAGR of 5.2%. The presence of a large target patient population, increasing number of sports injuries & accidents across the globe, and the rising number of orthopedic procedures are the major factors that are expected to drive the growth of the global compression therapy market during the forecast period. However, the lack of universally accepted standards for compression products and the low patient compliance for compression garments are the key factors hindering the growth of this market.

A few major players that have an extensive geographic presence dominate the compression therapy industry globally. The leading 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.

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The major strategies adopted by these players include new product launches, collaborations & agreements, mergers, investments & expansions. New product launches was the most commonly adopted strategy from January 2017 to July 2021.

In 2020, BSN medical (Germany) was a leading player in the compression therapy market. The company offers a broad range of compression products, including bandages, stockings, and socks, which are used to treat diabetes, lymphedema, and DVT. The company primarily focuses on acquisitions, product launches, and agreements to sustain its leadership position in the compression therapy market. Over the last few years, the company has made strategic acquisitions (such as the acquisition of Wright Therapy Products, Inc. (US), a manufacturer of compression therapy systems, in 2015) to strengthen its presence in the compression therapy market. The company has a strong presence in Germany, Colombia, France, Mexico, Pakistan, South Africa, Venezuela, New Zealand, and the US.

In 2020, 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.

Tactile Medical (US) is one of the major players operating in the compression pumps market; in recent years, the company has seen double-digit revenue growth in this market. Tactile Medical employs a direct-to-patient and provider model to deliver its solutions to patients and also trains them on the proper use of its compression therapy solutions. It is also emphasizing on creating awareness about its brand among patients by advertising through campaigns, exhibitions, and trade shows; conducting physician meetings; training and educating clinicians; and publishing additional clinical and economic outcome data. The company is currently selling its products only within the US. However, it is planning to pursue future international expansion in Europe and Canada.

Related Reports:

Compression Therapy Market by Technique (Static, Dynamic), Product (Garments (Stockings, Bandages, Wraps), Ortho Braces, Pump), Application (Varicose Vein, DVT, Lymphedema, Leg Ulcer), Distribution (Clinics, Pharmacies, E-Comm) - Global Forecasts to 2026

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Report Code
MD 5515
RI Published ON
8/12/2021
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