PUBLISHER: SkyQuest | PRODUCT CODE: 1562486
PUBLISHER: SkyQuest | PRODUCT CODE: 1562486
Global Compression Therapy Market size was valued at USD 3.9 billion in 2022 and is poised to grow from USD 4.11 billion in 2023 to USD 6.26 billion by 2031, growing at a CAGR of 5.40% during the forecast period (2024-2031).
Compression therapy is recommended to begin immediately following an injury to promote muscle health, enhance blood circulation, and prevent fluid accumulation in tissues. Compression pumps and tapes are commonly used to reduce swelling and inflammation after trauma. This therapy is gaining popularity for its effectiveness in speeding up recovery post-injury. The demand for compression therapy is rising, especially due to the increasing number of orthopedic surgeries. Additionally, the growing prevalence of venous disorders and the aging population are key factors driving the adoption of this treatment. As patients become more aware of available treatment options, the popularity of compression therapy continues to grow. Furthermore, technological advancements in compression therapy products are also contributing to their increased demand. Lymph node dissection, a common procedure in cancer treatments like breast and prostate cancer, disrupts the body's lymphatic filtration system, often leading to lymphedema-severe tissue or limb swelling due to lymph fluid buildup. According to the National Institutes of Health, over 250 million people worldwide suffer from this condition. Compression therapy is one of the most effective treatments for lymphedema, and as the prevalence of this condition increases, so too does the demand for compression therapy solutions.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Compression Therapy market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets 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.
Global Compression Therapy Market Segmental Analysis
Global Compression Therapy Market is segmented by Product, function, Application, Distribution Channel and region. Based on Product, the market is segmented into Compression Bandages, Compression Wraps, Compression Stockings, Compression Tapes, Compression Pumps, Compression Braces, and Other Compression Garments. Based on Application, the market is segmented into Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment, and Other Applications. Based on Distribution Channel, the market is segmented into Pharmacies & Retailers, E-commerce Platforms, Hospitals & Clinics, and Home Care Settings. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Drivers of the Global Compression Therapy Market
The growing elderly population, increasingly vulnerable to various health issues, is a key driver of market growth. According to Age International, average life expectancy has risen by nearly 20 years over the last five decades. This has resulted in 962 million people aged 60 and older, a figure expected to double by 2050, reaching over 2 billion. As people age, their bodies often require specialized treatments like compression therapy, particularly for conditions such as spinal compression fractures. The rising demand for these therapies is directly linked to the aging population and their increased need for medical care to manage age-related health concerns.
Restraints in the Global Compression Therapy Market
The compression therapy market is projected to experience gradual growth during the forecast period, largely due to the availability of alternative treatment options. These alternatives offer patients different therapeutic approaches, potentially slowing the demand for compression therapy. Additionally, the market may encounter further challenges as issues related to wearer discomfort can lead to lower compliance among users. This discomfort could discourage consistent use of compression therapy, creating obstacles for market expansion in the coming years.
Market Trends of the Global Compression Therapy Market
The latest high-frequency chest compression (HFCC) technology is designed to help cystic fibrosis (CF) patients clear mucus from their airways and improve lung function. This system includes a variable air pulse delivery mechanism and an inflatable, non-stretch vest that the patient wears around the chest to facilitate treatment. The vest is paired with chest bandages that are applied under full tension. These bandages are marked with printed ovals or rectangles, which serve to enhance the accuracy and effectiveness of the bandage's extension during treatment, ensuring better compression results.