Compression Therapy Market Demand Rise Due to Chronic Venous Insufficiency

Compression therapy is a widely used treatment method aimed at improving blood circulation in the limbs, reducing pain, and preventing or managing conditions such as chronic venous insufficiency, lymphedema, deep vein thrombosis (DVT), and varicose veins. It typically involves the use of specially designed garments, including compression stockings, bandages, and wraps, which apply controlled pressure to affected areas—usually the legs.

The compression therapy market is experiencing significant growth, driven by the rising prevalence of venous and lymphatic disorders, technological advancements, and increasing awareness about the benefits of compression therapy. According to Fortune Business Insights, the compression therapy market was valued at USD 3.02 billion in 2018 and is projected to reach USD 6.62 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period. In 2018, North America dominated the market, accounting for a share of 34.77%.

Top Companies in the Market

SIGVARIS

3M

Arjo

PAUL HARTMANN Pty. Ltd

medi GmbH & Co. KG

Essity Aktiebolag (publ)

Smith & Nephew

Bio Compression Systems, Inc.

Tactile Systems Technology, Inc.

Other Players

Market Drivers & Restraints

Drivers

Increasing Prevalence of Venous and Lymphatic Disorders: Conditions such as venous leg ulcers and lymphedema are becoming more common due to factors like immobility, obesity, and aging populations. Compression therapy is recognized as an effective treatment for these conditions

Technological Advancements: The development of advanced compression garments and devices has improved patient compliance and treatment outcomes. Innovations include multi-component systems that offer enhanced efficacy.

Restraints

High Cost of Compression Pumps: The expense associated with advanced compression devices can be a barrier to adoption, particularly in developing regions.

Lack of Awareness in Developing Countries: Limited knowledge about compression therapy and its benefits hinders market growth in certain areas.

Key Industry Development

In May 2021, Koya Medical received FDA clearance for its compression therapy system designed for the lower extremities, marking a significant advancement in the treatment options available for patients.

Market Report Coverage

The report provides a comprehensive analysis of the compression therapy market, including detailed segmentation by product, application, end-user, and region. It offers insights into market trends, growth drivers, challenges, and competitive landscape.

Market Competitive Landscape

The market is characterized by the presence of several key players who are focusing on strategic initiatives such as product launches, partnerships, and mergers to strengthen their market position. For instance, in January 2020, AIROS Medical Inc. received FDA approval to market its updated AIROS 8 Sequential Compression Therapy Device and garment system.

Market Segments

By Product

Compression Garments: This segment holds the largest market share, driven by the widespread use of compression bandages, stockings, and other garments in treating various conditions.

Compression Pumps: These devices are gaining popularity due to their effectiveness in managing lymphedema and other disorders.

Others: Includes compression braces and tapes used in specific therapeutic applications.

Explore the full research report with detailed insights and TOC:https://www.fortunebusinessinsights.com/compression-therapy-market-102689

By Application

Lymphedema: This segment dominated the market in 2018, attributed to the rising prevalence of lymphedema and growing adoption of advanced products for its treatment.

Venous Leg Ulcer: Growing prevalence of this condition, along with the introduction of new compression therapy devices for its treatment, is expected to drive the growth of this segment during the forecast period.

Deep Vein Thrombosis (DVT): Compression therapy is used to prevent and treat DVT by improving blood flow in the veins.

Others: Includes conditions like varicose veins and other circulatory disorders.

By End User

Hospitals & Clinics: This segment is anticipated to hold the largest share in the market during the forecast period owing to the rise in the hospitalization rate and the higher adoption of compression therapy in hospitals.

Nursing Care Centers: These facilities use compression therapy for patients with chronic conditions requiring long-term care.

Home Care: The home care segment is likely to register significant growth due to reasons such as the increase in the geriatric patient pool and growing preference for home care settings products for the treatment of venous and lymphatic disorders.

Others: Includes ambulatory surgical centers and specialty clinics.

Market Regional Insights

North America: Dominated the market with a 34.77% share in 2018, attributed to the high prevalence of lymphedema and venous diseases, coupled with advanced healthcare infrastructure.

Europe: Follows closely, driven by increasing adoption of compression garments and supportive healthcare policies.

Asia-Pacific: Expected to witness significant growth due to rising healthcare awareness and improving medical facilities.

Future Market Scope

The compression therapy market is poised for continued growth, fueled by ongoing technological innovations, increasing prevalence of chronic conditions, and expanding awareness of compression therapy benefits. The integration of smart technologies and the development of cost-effective solutions are expected to further enhance market expansion.

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