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Compression Therapy Market size to exceed $4Bn by 2030

  • Published Date: August 16, 2022

Compression Therapy Market size is predicted to surpass USD 4 billion by 2030, according to a new market study published by Global Market Insights Inc.
 

Rising sports injuries and accidents will drive market demand. More people are becoming health conscious and are participating in sports activities to keep themselves fit. This has led to a surge in sports related trauma. The National Safety Council had informed in 2021 that nearly 3.2 million Americans had sports injuries and required treatments across healthcare facilities. Compression therapy solutions can help enhance the outcome of patient treatments.
 

An increase in the number of traffic accidents or trauma has augmented the need for compression therapy products for better treatment and speedy recovery. According to the Insurance Institute for Highway Safety (IIHS), 35,766 motor fatal vehicle crashes took place in the U.S. in 2020 alone. Further, a gradual rise in the number of orthopedic procedures among the geriatric population will augment the industry trends. However, factors such as reduced compliance due to the discomfort of wearers could negatively impact the compression therapy industry forecast.
 

Compression braces used for speedy recovery post injury and surgeries

The report states that the compression braces segment accounted for around 23% share of compression therapy market in 2021 and is projected to be over USD 983 million by 2030. The demand for compression braces has increased significantly in recent years, owing to benefits such as low cost, applicability in a broad range of clinical operations, and ease of application. Compression braces are extensively used in injuries or procedures performed on joints, including knee, elbow, and ankle surgeries.
 

Browse key industry insights spread across 213 pages with 285 market data tables & 18 figures & charts from the report, “Compression Therapy Market Analysis 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, COVID-19 Impact Analysis, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030” in detail along with the table of contents
https://www.gminsights.com/industry-analysis/compression-therapy-market
 

Application in venous ulcer therapy expands dynamic compression demand

Compression therapy market share from the dynamic compression technology segment exceeded USD 384 million in 2021. This technology provides a therapeutic, controlled external pressure to a limb, trunk, and/or the face. Dynamic compression therapy is useful in lymphedema, venous ulcer management, and prophylactically for reducing edema and support the return of venous blood to the heart. About 250 million people around the word suffer from lymphedema, indicating the potential demand for compression therapy products.
 

Role of compression therapy in treating deep vein thrombosis

Compression therapy industry revenue from the deep vein thrombosis (DVT) application surpassed USD 284 million during 2021. The expanding geriatric population is adding to the DVT cases worldwide. As of 2022, 16.5% of the total population in the U.S. was aged 60 years and above. The CDC states that the annual incidence of deep vein thrombosis in the U.S. is around 1 to 2 per 1,000 people. This factor will positively impact the adoption of compression therapy products to improve a patient’s blood flow and address the disease burden.
 

High incidence of varicose vein augments APAC compression therapy industry share

Asia Pacific compression therapy market size will exceed USD 1,100 million by 2030. Large population density, substantial volume of geriatric people and rising prevalence of venous diseases in the region is expanding the technology demand. As per the Journal of Family Medicine for Primary Care, in 2020, the number of varicose vein cases in Asia were 30% higher as compared to most western countries.
 

Increasing investments in the regional healthcare sector has enabled companies to boost research and development activities. For example, in November 2021, the Government of India announced plans to invest USD 8.05 billion over the next 5 years to strengthen the health industry. Such initiatives will boost the access to technologically advanced compression therapy devices.
 

The study recognizes major participants in the compression therapy market, such as 3M Company, ArjoHuntleigh, Cardinal Health, Inc, BIO Compression Systems, Inc, Alcare Company Ltd, ConvaTec Inc, DJO Global (Colfax Corporation), Essity AB, Julius Zorn GmbH, Medi GmbH & Co. KG, PAUL HARTMANN AG, Sanyleg S.R.L, Sigvaris AG, Smith & Nephew PLC, and Tactile Medical. Strategic alliances, partnerships, and acquisitions will help these organizations widen their product portfolios.
 

Authors: Sumant Ugalmugle, Rupali Swain