Global Compression Therapy Market

Global Compression Therapy Market, By Technique (Static Compression Therapy, Dynamic Compression Therapy), By Product (Compression Garments, Compression Pumps, Compression Braces), By Application (Lymphedema Treatment, Leg Ulcer Treatment, Varicose Vein Treatment, Deep Vein Thrombosis Treatment), By Distribution Channel (Hospitals & Clinics, Pharmacies & Retailers, E-Commerce Platforms), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2126
  • Available Format: PDF
  • Page: 200

Report Overview

The global compression therapy market gaining traction because of the driving factors such as increasing prevalence of vein disorders such as lymphedema, ulcers, varicose and spider veins, deep vein thrombosis, etc., along with the rising sport and other physical injury incidences.

The global compression therapy market was worth USD 3.4 billion in 2020 and is further projected to reach USD 4.7 billion by the year 2027, growing at a CAGR of 4.8% in the forecast period. The market is gaining traction because of various driving factors, including the increasing prevalence of vein disorders such as lymphedema, ulcers, varicose and spider veins, deep vein thrombosis, etc., along with the rising prevalence of sports injuries and other physical injuries. Furthermore, technological advancements and the development of rehabilitation centers are estimated to drive the growth of the global compression therapy market during the forecast period.

compression therapy market

Source: BlueWeave Consulting

Global Compression Therapy Market- Overview

Hilotherapy, also known as compression therapy, is a process that uses stockings or socks and controlled pressure in order to support the veins and increase circulation. Using compression and elevation, this type of therapy can reduce pain associated with sports injuries or vein problems. This method is widely used for the treatment of leg ulcers since it improves blood flow, which in turn reduces pain, swelling, and itching and speeds up healing. The benefits of compression therapy have been thoroughly studied and shown to positively impact people's health, such as preventing leg swelling when they stand or sit for extended periods.

Global Compression Therapy Market Forecast and Trends

Growth Drivers

Increasing Cases of Accidents and Sports Injuries

In the sports industry, compression therapy is widely used for enhancing performance, reducing soreness after exercises, and reducing the risk of blood clots in athletes. While exercising, athletes often wear compression stockings, which increase deep venous velocities, decrease blood pooling in calf veins and stimulate the skeletal muscle. With the growing popularity of sports events around the world, the demand forcompression therapy products is also flourishing, propelling market growth.

Growing Prevalence of Venous Disorders and Target Patient Population

One of the major factors driving the global compression therapy market is the increasing prevalence of venous disorders and lymphedema. A large percentage of the population suffers from medical conditions like blood clots, ulcers, superficial venous thrombosis, varicose and spider veins, and so on. Venous ulcers are considered one the most common chronic conditions in many countries like the USA or Northern Europe. The condition is estimated to affect around 280,000 people in the UK and more than 600,000 people in the USA over the age of 65. As a result, compression therapy is becoming increasingly popular across the globe.

Restraints

Presence of Alternative Treatment

Compression therapy is used for treating conditions such as lymphedema and venous disorders. However, compression therapy suffers huge losses due to the presence of other treatment options, resulting in a stagnant market.Lymphedema, for example, has other treatment options such as pneumatic compression, complete decongestive therapy (CDT), etc., along with compression therapy, which adversely affects the global compression therapy market.

Impact of COVID-19 on Global Compression Therapy Market

Globally, the COVID-19 pandemic has had a mixed effect on the global compression therapy market. This is due to a sharp drop in sports injuries and accidents following the cancellation or postponement of several sporting events during the pandemic.The demand for compression therapy declined as a result. Also, companies that had official therapy partnerships with sports teams suffered heavy losses during this period. However, a growing prevalence of deep vein thrombosis has also provided growth possibilities for the market.

Global Compression Therapy Market - By Technique

Based on techniques, the global compression therapy market is segmented into static compression therapy and dynamic compression therapy.The static compression technology segment has the largest market share due to its high effectiveness as well as user-friendliness. The technology is also widely used to treat sports-related injuries and edema, as it provides pain relief and pressure relief. The dynamic compression therapy segment, on the other hand, is gaining substantial traction because of the high recommendations from healthcare professionals and is expected to grow at a high CAGR during the forecast period.

Global Compression Therapy Market - By Product

Based on products, the global compression therapy market is segmented into compression garments, compression pumps, and compression braces. Among these, the compression garments segment captures the largest market share. This segment is further classified into compression stockings, compression bandages & wraps, and other compression garments. The demand for compression bandages is very prominent in the market as they are widely used during the treatment of lymphedema, venous disorders, and edema. Furthermore, it offers several advantages over other products such as cost-efficiency, high sustainability, etc.

Global Compression Therapy Market - Regional Insights

Geographically, the global compression therapy market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these continents, North America accounts for the largest market share because of the high prevalence of chronic diseases like cancer which is a leading cause of lymphedema, and the increasing geriatric population in the region. It has been estimated that around 600,000 patients aged 65 or more are affected by venous ulcers. Moreover, secondary lymphedema affects approximately 1 in 1000 Americans every year. The high prevalence of these disorders fuels the growth of the compression therapy market in North America.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading market players in the global compression therapy market are OFA Bamberg, Bauerfeind AG, Thermotek, Inc., Tactile Medical, Sanyleg S.R.L., Medi Gmbh& Co. KG, Julius Zorn GmbH, Convatec Inc., Cardinal Health, Inc., BSN Medical, DJO Global, Inc., Gottfried Medical, Inc., Bio Compression Systems, Inc., Medline Industries, Inc., Arjohuntleigh, Medtronic PLC, 3M Company, Paul Hartmann AG, Smith & Nephew PLC, and other prominent players.

Participants in the market are focused on expanding their product portfolios through product launches and approvals. Additionally, many companies partner with sports teams to increase their brand awareness and revenue by becoming official recovery companions and therapy partners. Furthermore, the adoption of competitive strategies like mergers, acquisitions, collaborations is also very prominent in this market.

Recent Developments

  1. In May 2021, Koya Medical, a US-based medical technology manufacturer, announced to have received FDA 510(k) clearance for its active therapy system Dayspring for the treatment of lymphedema and venous diseases.
  2. In May 2021, Boston Bruins, the Boston Ice Hockey team announced a partnership with Therabody, a US-based body wellness company, to become their official recovery partner and exclusive compression-therapy partner.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Technique, By Product, By Application, By Distribution Channel, By Region

Key Players

OFA Bamberg, Bauerfeind AG, Thermotek, Inc., Tactile Medical, Sanyleg S.R.L., Medi Gmbh& Co. KG, Julius Zorn GmbH, Convatec Inc., Cardinal Health, Inc., BSN Medical, DJO Global, Inc., Gottfried Medical, Inc., Bio Compression Systems, Inc., Medline Industries, Inc., Arjohuntleigh, Medtronic PLC, 3M Company, Paul Hartmann AG, Smith & Nephew PLC, and other prominent players.

By Technique

  • Static Compression Therapy
  • Dynamic Compression Therapy

By Product

  • Compression Garments
  1. Compression Stockings
  2. Compression Bandages & Wraps
  3. Other Compression Garments
  • Compression Pumps
  • Compression Braces

By Application

  • Lymphedema Treatment
  • Leg Ulcer Treatment
  • Varicose Vein Treatment
  • Deep Vein Thrombosis Treatment

By Distribution Channel

  • Hospitals & Clinics
  • Pharmacies & Retailers
  • E-Commerce Platforms

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

 

FAQs:

1. What is the current size of the global compression therapy market?

Answer: The global compression therapy market reached USD 3.4 billion in 2020.

2. What are the major factors driving the growth of the global compression therapy market?

Answer: Growing numbers of accidents and sports injuries and an increase in venous disorders are driving the growth of the global compression therapy market.

3. Who are the key players in the global compression therapy market?

Answer: The key players in the global compression therapy market areOFA Bamberg, Bauerfeind AG, Thermotek, Inc., Tactile Medical, Sanyleg S.R.L., Medi Gmbh& Co. KG, Julius Zorn GmbH, Convatec Inc., Cardinal Health, Inc., BSN Medical, DJO Global, Inc., Gottfried Medical, Inc., Bio Compression Systems, Inc., Medline Industries, Inc., Arjohuntleigh, Medtronic PLC, 3M Company, Paul Hartmann AG, Smith & Nephew PLC, and other prominent players.

4. Which product segment accounted for the largest share in the global compression therapy market?

Answer: The compression garments segment accounted for the largest share in the global compression therapy market.

5. Which region is at the highest growth rate in the global compression therapy market?

Answer: North America has the largest share in the global compression therapy market.