The Compression Therapy by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s insights into Compression Therapy, the market has witnessed robust growth in recent years, surging from $4 billion in 2023 to a projected $4.36 billion in 2024, showcasing a compelling Compound Annual Growth Rate (CAGR) of 8.9%. This upward trajectory in the historical period is primarily attributable to factors such as the burgeoning aging population, heightened prevalence of chronic venous diseases, increased awareness of therapeutic advantages, a surge in diabetes and obesity-related conditions, and the expanding scope of indications for compression therapy.
Projections for the compression therapy market indicate a formidable growth trajectory in the coming years, with an anticipated ascent to $6.21 billion by 2028, underpinned by a noteworthy CAGR of 9.2%. The forecasted surge is driven by escalating healthcare expenditures, improved access to medical services, a burgeoning geriatric demographic, a rising incidence of lymphedema and various chronic conditions, an extended footprint in sports and fitness applications, and heightened adoption of compression therapy within hospital settings.
The rise in the geriatric population is contributing to the growth of the compression therapy market. The share of the aged population in many countries across the globe is rapidly growing. The old population is vulnerable to different chronic diseases. Compression therapy is a simple and efficient way to enhance vein support and increase blood flow efficiency in the lower limbs. Compression therapy is most commonly used in the elderly population with chronic venous illness. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. Therefore, the increasing geriatric population is expected to aid the growth of the compression therapy market.
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The compression therapy market covered in this report is segmented –
1) By Product: Compression Pumps, Compression Stockings, Compression Bandages, Compression Tapes
2) By Technique: Static Compression Therapy, Dynamic Compression Therapy
3) By Application: Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment, Other Applications
Top 5 Major Players:
Noteworthy trends in this forecast period encompass the evolution of wearable and smart compression devices, customized therapy solutions, integration with wound care management, and an emphasis on patient comfort and compliance, fostering collaborations between manufacturers and healthcare providers for enhanced patient outcomes.
Significant trends poised to shape the landscape in the forecasted period encompass the evolution of wearable and intelligent compression devices, tailored solutions in compression therapy, seamless integration of compression therapy in wound care management, a focus on enhancing patient comfort and compliance, and collaborative initiatives between manufacturers and healthcare providers aimed at optimizing patient outcomes.
Leading players within the compression therapy market are at the forefront of innovation, actively developing groundbreaking products such as wearable compression systems. These advancements serve the dual purpose of expanding customer bases, boosting sales, and augmenting overall revenue. A notable example is the Dayspring active compression system introduced by Koya Medical Inc., a U.S.-based medical technology firm. Launched in April 2022, this pioneering device stands out for its capacity to administer continuous or intermittent compression therapy to specific body areas, notably the limbs, while accommodating the body’s natural movements during treatment. Distinguishing itself from conventional pneumatic compression pumps, the Dayspring system liberates patients from stationary constraints, enabling them to partake in daily activities while undergoing treatment. Designed to address lymphedema and venous diseases in the lower extremities, the Dayspring system has secured FDA approval as the first-of-its-kind non-pneumatic active dynamic compression treatment. Its composition features a comfortable, breathable mesh garment utilizing proprietary Flexframe technology for controlled and personalized compression, coupled with an intelligent rechargeable controller boasting Bluetooth capabilities. Augmented by companion software for treatment customization and record assessment, the Dayspring system exemplifies a paradigm shift in the landscape of compression therapy.
The compression therapy market report table of contents includes:
1. Executive Summary
2. Compression Therapy Market Characteristics
3. Compression Therapy Market Trends And Strategies
4. Compression Therapy Market – Macro Economic Scenario
5. Global Compression Therapy Market Size and Growth
….
31. Global Compression Therapy Market Competitive Benchmarking
32. Global Compression Therapy Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Compression Therapy Market
34. Compression Therapy Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Compression Therapy Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Compression Therapy Market, Segmentation By Technique, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Compression Therapy Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…
Table 74: 3M Company Financial Performance
Table 75: ArjoHuntleigh AB Financial Performance
Table 76: Bio Compression Systems Inc. Financial Performance
Table 77: BSN Medical GmbH Financial Performance
Table 78: Cardinal Health Inc. Financial Performance
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