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Compression Therapy Market worth over $3bn by 2027

  • Published Date: January 20, 2021

Compression Therapy Market size is set to surpass USD 3.1 billion by 2027, according to a new research report by Global Market Insights Inc.

Rising technological advancements across the globe will boost the market growth. Industry players are focusing on the development of the advanced products with enhanced effectiveness that is augmenting the demand for compression therapy products. For instance, AIROS Medical Inc., developed an updated AIROS 8 Sequential Compression Therapy Device and garment system.

Rise in number of orthopedic procedures across the globe will spur the compression therapy market expansion. As per the statistics published by the Center for Disease Control and Prevention (CDC), in the U.S., each year more than 30 million people suffer from osteoarthritis. Thus, increase in prevalence of orthopedic disorders is fostering the number of people undergoing orthopedic surgeries, thereby impelling the adoption rate and demand for compression therapy products. For example, intermittent pneumatic compression (IPC) is an effective modality for influencing fracture and soft tissue healing post orthopedic procedures and is being increasingly adopted to treat patients.

Rise in utilization of compression tapes will drive the market value

Global Compression Therapy Market By Product

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Compression tapes segment held a significant revenue share in 2020 owing to their growing utilization in treatment of lymphatic disorders of the lower limb, high cost efficiency, elasticity, extensibility and high-tension sustainability. Furthermore, the availability of multilayer, long and short-stretch compression tapes is leading to their increased utilization.

Browse key industry insights spread across 200 pages with 286 market data tables & 16 figures & charts from the report, Compression Therapy Market Size By Product (Compression Garments {Compression Bandages, Compression Stockings [Compression Class I, Compression Class II, Compression Class III]}, Compression Braces, Compression Tapes, Compression Pumps), By Technology (Static Compression Therapy, Dynamic Compression Therapy), By Application (Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:

Growing preference for dynamic compression therapy will enhance the market revenue

Dynamic compression therapy segment in the compression therapy market exceeded USD 350 million in 2020 led by high venous return and external control. Moreover, compression therapy with products incorporated with dynamic technology are preferred by patients due to long-term efficacy.

Increasing prevalence of deep vein thrombosis influence the market demand

Deep vein thrombosis treatment segment will showcase growth rate of 4.9% through 2027 impelled by the growing incidences of deep vein thrombosis (DVT) across the globe. According to the Centers for Disease Control and Prevention (CDC), the annual incidence of deep vein thrombosis in the U.S. is around 1 to 2 per 1,000 people. Rising geriatric population is also contributing to the growing incidences of DVT worldwide.

Improving healthcare infrastructure in China is anticipated to fuel the regional growth

China held significant share in the Asia Pacific compression therapy market and accounted for around USD 150 million in 2020 propelled by the exponentially growing number of patients suffering from chronic diseases in the country. In addition, factors such as presence of low-cost manufacturers in China along with improving healthcare infrastructure are contributing to the industry growth. Growing geriatric population, increasing patient pool of venous and lymphatic disorders and rising disposable income is contributing to the business expansion in the country.

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major players operating in the market are 3M Company, BSN Medical, Cardinal Health, Inc., DJO Global, Inc., Medi GmbH & Co. KG, Paul Hartmann AG, Sigvaris, and Tactile Medical among others. These industry leaders are proposing innovative product launches in order to generate significant revenue and increase their geographical presence. 

Authors: Sumant Ugalmugle, Rupali Swain