Compression Therapy Market Size & Share, by Product (Compression Pumps, Compression Stockings); End-user (Hospital, Home Care) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4858
  • Published Date: Apr 28, 2023
  • Report Format: PDF, PPT

Global Compression Therapy Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Compression Therapy Market SIze is estimated to garner a revenue of ~USD 10.79 billion by the end of 2035 by growing at a CAGR of ~8.20% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 4.19 billion in the year 2023. The market growth is mainly owing to an aging population, a rise in the incidence of chronic diseases, and an increasing demand for non-invasive treatments. In 2019, an estimated 1.6 million people died from diabetes worldwide, up from 1.3 million in 2010. Cardiovascular diseases (CVDs) are the leading cause of death globally, with an estimated 17.9 million deaths in 2019. The market is a growing sector in the healthcare industry that focuses on treating various medical conditions such as lymphedema, deep vein thrombosis, and chronic venous insufficiency. Compression therapy involves applying pressure to the affected area of the body using specially designed garments, stockings, or bandages.

In addition to this, the number of people with cancer is expected to rise to 27.5 million worldwide by 2040, up from 17 million in 2018. According to the WHO, an estimated 463 million adults were living with diabetes in 2019, and the number is projected to rise to 700 million by 2045. The global prevalence of obesity has nearly tripled since 1975, with an estimated 1.9 billion adults overweight, of which over 650 million are obese. These statistics highlight the growing burden of chronic diseases on global health and the need for effective prevention and management strategies. The rise in chronic diseases is one of the major factors driving the growth of the compression therapy market, as more patients seek non-invasive treatments to manage their conditions.


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Global Compression Therapy Market: Key Insights

 

Base Year

2022

Forecast Year

2023-2035

CAGR

~8.20%

Base Year Market Size (2023)

~ USD 4.19 Billion

Forecast Year Market Size (2035)

~ USD 10.79 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

 


Global Compression Therapy Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increase in Incidence of Chronic Diseases: Chronic diseases such as lymphedema, deep vein thrombosis, and chronic venous insufficiency are on the rise, driving the demand for compression therapy products. According to the World Health Organization (WHO), chronic diseases account for 60% of all deaths globally.
  • Aging Population: The world's population is aging rapidly, with the number of people aged 65 and above projected to reach 1.5 billion by the year 2050, up from 703 million in the year 2019. This demographic shift is expected to increase the demand for compression therapy products, as the elderly are more susceptible to chronic diseases.
  • Increasing Healthcare Spending – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. The boom is estimated to continue during the forecast period.
  • Spike in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for compression therapy. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.
  • Growing Preference for Non-Invasive Treatments: Patients are increasingly seeking non-invasive treatments for their medical conditions, as these treatments are less risky and have fewer side effects compared to invasive procedures. Compression therapy is a non-invasive treatment option for managing a range of medical conditions, leading to an increase in demand for these products. A survey conducted in 2019 found that non-invasive procedures, such as Botox and fillers, accounted for 86% of all cosmetic procedures performed in the United States.

Challenges

  • Compliance issues: Compression therapy products need to be worn consistently and correctly to be effective, but many patients struggle to comply with the recommended regimen due to discomfort, inconvenience, or lack of understanding of the treatment.
  • Adverse effects
  • Competition from alternative treatments


Global Compression Therapy Market Segmentation

The market is segmented and analyzed for demand and supply by end user into hospital, home care, and others. Out of the five types of end users, the hospital segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the large number of patients requiring treatment for various conditions. The hospitals are also growing rapidly in number, which is estimated to positively influence segmental growth. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care.

The global compression therapy market is also segmented and analyzed for demand and supply by product into compression pumps, and compression stockings. Amongst these two segments, the compression pumps segment is expected to garner a significant share of around ~60% in the year 2035. The growth of the segment can be accredited to the technological advancements. The development of portable and wearable compression pumps has made them more convenient and accessible to patients. These devices can be worn discreetly under clothing and can be used at home or on the go, enabling patients to manage their conditions more effectively. As awareness of the benefits of compression therapy increases, more patients and healthcare providers are turning to compression pumps as a non-invasive treatment option. This is driving the demand for these products and contributing to their growth. Governments and insurance companies are increasingly recognizing the benefits of compression therapy and are introducing policies to encourage its use. This includes reimbursement policies for compression pumps, which can make them more affordable and accessible to patients. These growth drivers are expected to continue driving the growth of the compression pumps segment in the forecast years, making it an attractive market for manufacturers and investors.

 

Our in-depth analysis of the global compression therapy market includes the following segments:

            By End User

  • Hospital
  • Home Care
  • Others

 

   

            By Product

  • Compression Pumps
  • Compression Stockings

 


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Global Compression Therapy Market Regional Synopsis

The compression therapy in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the increase in the aging population. According to the United Nations, the number of people over the age of 65 in the Asia Pacific region is expected to triple by 2050. This is expected to increase the prevalence of age-related conditions such as arthritis, edema, and varicose veins, driving the demand for compression therapy. The incidence of chronic diseases such as diabetes, cardiovascular disease, and cancer is on the rise in the Asia Pacific region. Compression therapy is an effective treatment for many of these conditions, and as the demand for non-invasive treatments increases, so will the demand for compression therapy. Many countries in the Asia Pacific region are investing in their healthcare infrastructure, which is expected to improve access to healthcare and increase the adoption of compression therapy. This includes initiatives to improve primary healthcare, increase the number of hospitals and clinics, and expand insurance coverage.

The compression therapy in the North America region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the increasing awareness. As awareness of the benefits of compression therapy increases, more patients and healthcare providers in North America are turning to these products as a non-invasive treatment option. This is driving the demand for compression therapy and contributing to its growth in the region. Governments and insurance companies in North America are recognizing the benefits of compression therapy and are introducing policies to encourage its use. This includes reimbursement policies for compression therapy products, which can make them more affordable and accessible to patients. The development of new compression therapy products such as advanced wound care dressings, portable and wearable compression devices, and 3D printing technologies is driving the growth of the compression therapy market in North America. These growth drivers suggest that the market in North America is poised for significant growth in the coming years, providing opportunities for manufacturers and investors.

Further, compression therapy in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the growing prevalence of chronic diseases. The incidence of chronic diseases such as diabetes, obesity, and cardiovascular disease is on the rise in Europe. Compression therapy is an effective treatment for many of these conditions, driving demand for compression therapy products. Europe is home to several leading manufacturers of compression therapy products, and there is a focus on developing new and innovative products. This includes products such as advanced wound care dressings, portable and wearable compression devices, and 3D printing technologies. As awareness of the benefits of compression therapy increases, more patients and healthcare providers in Europe are turning to these products as a non-invasive treatment option. This is driving the demand for compression therapy and contributing to its growth in the region. Governments and insurance companies in Europe are recognizing the benefits of compression therapy and are introducing policies to encourage its use. This includes reimbursement policies for compression therapy products, which can make them more affordable and accessible to patients.

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Top Featured Companies Dominating the Global Compression Therapy Market

top-features-companies
    • 3M Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BSN Medical
    • Medtronic PLC
    • Bio Compression Systems, Inc.
    • Sigvaris, Inc.
    • Medi GmbH & Co. KG
    • Tactile Medical
    • DJO Global, Inc.
    • Sanyleg S.r.l.
    • Paul Hartmann AG

In-the-news

In The News

  • Medtronic PLC: Medtronic announced that it had received FDA clearance for its VenaSeal Closure System to treat symptomatic venous reflux disease. The VenaSeal Closure System is a minimally invasive treatment that uses medical adhesive to close diseased veins, offering a new treatment option for patients with chronic venous insufficiency.
  • BSN Medical: BSN Medical announced that it had launched its JOBST FarrowWrap® in the United States. The JOBST FarrowWrap® is a customizable compression wrap designed to provide sustained compression for patients with lymphedema and other conditions that cause swelling in the limbs. The wrap is made from breathable, moisture-wicking materials and can be adjusted to fit individual patient needs, offering a more comfortable and effective treatment option.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4858
  • Published Date: Apr 28, 2023
  • Report Format: PDF, PPT

Key Questions Answered in the Report

1) What are the major factors driving the growth of the compression therapy market?

Ans: An increasing aging population and a rise in the incidence of chronic diseases are the major factors driving the market growth.

2) What would be the CAGR of compression therapy market over the forecast period?

Ans: The market size of compression therapy is anticipated to attain a CAGR of ~10.79% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the compression therapy market growth?

Ans: The high cost of products is estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of compression therapy market in future?

Ans: Which region will provide more business opportunities for the growth of the compression therapy market in the future?

5) Who are the major players dominating the compression therapy market?

Ans: The major players in the market are Medi GmbH & Co. KG, Tactile Medical, DJO Global, Inc., Sanyleg S.r.l., Paul Hartmann AG, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the compression therapy market?

Ans: The market is segmented by product, end-user, and by region.

8) Which segment captures the largest market size in the end user segment in the compression therapy market?

Ans: The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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