Compression Therapy Market Size, Share and Industry Analysis, By Product (Compression Garments {Compression Bandages, Compression Stockings, and Others}, Compression Pumps, and Others), By Application (Venous Leg Ulcer, Deep Vein Thrombosis (DVT), Lymphedema, and Others), By End User (Hospitals & Clinics, Nursing Care Centers, Home Care, and Others), and Regional Forecast, 2019-2032

The global compression therapy market size was valued at USD 3.02 billion in 2018 and is projected to reach USD 6.62 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period based on our analysis in the existing report. North America dominated the global market with a share of 34.77% in 2018.

Compression therapy uses a controlled pressure on the lower extremities to increase blood flow and efficiency of the lymphatic and venous system. It is the most established and the most important method of treatment for venous and lymphatic diseases. According to an article published by the National Center for Biotechnology Information (NCBI) in 2018, lymphedema is a pandemic and affects approximately 250 million patients worldwide. 

The rise in prevalence of vein disorders such as venous leg ulcer, lymphedema, deep vein thrombosis, etc., increasing geriatric population, and the rise in the adoption of pressure therapies for the treatment of these vein disorders are the key factors likely to drive the compression therapy market growth during the forecast period.

MARKET TRENDS

Growing Adoption of Compression Garment in Venous Disorder Management to Drive the Growth

Disorders such as venous leg ulcers and lymphedema are hard to heal. However, innovations in products and growing adoption of it as an effective treatment option have been observed as one of the significant compression therapy market trends. This therapy has been clinically proven to accelerate venous leg ulcer (VLU) healing time and to decrease the recurrence rate. It also effectively manages the lymphedema. Also, robust research activities by top market players in product developments are resulting in growing introduction of novel products in the market.

MARKET DRIVERS

Increasing Prevalence of Lymphatic Disorders and Venous Leg Ulcers to Boost the Market Growth

The prevalence of lymphatic and venous disorders is increasing at a rapid pace, globally. The factors contributing the development of these disorders include immobility, previous deep vein thrombosis, pregnancy, obesity, and varicose veins. Also, factors such as chronic venous insufficiency, breast cancer, and surgeries lead to the lymphatic disorders. Thus, increasing prevalence of these diseases and rising awareness regarding advanced treatments such as compression garments and other devices are likely to drive the market growth. For instance, according to an article published by Vascular Medicine, venous leg ulceration is the most commonly occurring medical condition worldwide which affects around 1.5% of the general population and up to 5% of the geriatric population.

New Developments in Products to Fuel the Market Growth

Various new developments in compression therapy are projected to propel this therapy market growth during the forecast period. Conventional treatment options such as single-component compression systems are advanced compression therapy systems which are multi-component and bi-layer. The multi-component system is made up of a crepe layer, wool padding, an elastic bandage, and an elastic cohesive bandage. 

The interface pressure under the bandages increases with addition of each layer of compression, making multiple system superior and more effective to single component system. Also, increasing number of industry giants are focusing on the development of the advanced compression therapy systems with enhanced effectiveness. For example, in January 2020, AIROS Medical Inc., a medical technology manufacturer specializing in this therapy devices, received FDA approval to market its updated AIROS 8 Sequential Compression Therapy Device and garment system.

MARKET RESTRAINT

High Cost of Compression Pumps & Lack of Awareness about Compression Therapy in Developing Countries to Hinder Growth

Limited knowledge about compression an effective treatment option for management of lymphatic and venous disorders in many developing countries is likely to restrict the compression therapy market growth. Moreover, one of the major hindrances in the growth of the market is the high cost attributed to the compression pumps. However, increasing competition leading to pricing pressure and growing initiatives by leading players in rising the awareness about the availability of this therapy in the market for the treatment of venous leg ulcer, lymphedema, etc. are likely to leverage expansion opportunities in coming years.

SEGMENTATION

By Product Analysis

Compression Garments Segment to Hold a Leading Market Share

In terms of product, the market has been segmented into compression garments, compression pumps, and others. Among them, the compression garment segment is held dominating share of this market. Growing adoption of advanced compression therapy products and rising geriatric population with lymphatic disorders are some of the major factors driving the compression garments segment's growth. The compression pumps segment is expected to witness the highest growth rate, owing to the increased number of launches by the market players and its rising adoption due to the various benefits offered by these pumps for effective treatment of lymphedema. For instance, In May 2017, Tactile Systems Technology, Inc. launched the first and only pneumatic compression device Flexitouch for lymphedema treatment in U.S.

By Application Analysis

Lymphedema Segment to Dominate During the Forecast Period

Based on application, the market is segmented into venous leg ulcer, DVT, lymphedema, and others. The lymphedema segment dominated the market in 2018. The growth is attributed to the rising prevalence of lymphedema and growing adoption of advanced products for its treatment. Compression pumps are increasingly recognized as an effective treatment for lymphedema as they help in improving the venous pumps in lymphatic patients. According to an article published by the National Center for Biotechnology Information (NCBI) in 2018, lymphedema is a pandemic and affects approximately 250 million patients worldwide.

Venous leg ulcer is among the other major application areas of this therapy. 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.

By End User Analysis

Higher Adoption of Compression Therapy in Hospitals to Enable the Dominance of the Segment

Based on end-user, the market segments include hospitals & clinics, nursing care centers, home care, and others. The hospital 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. Also, easy availability of advanced products, presence of skilled healthcare providers, and favorable reimbursement for this therapy are likely to contribute to hospitals segment to lead the market. The home care segment is likely to register a lift in 2026, marking the highest CAGR. This is 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.

REGIONAL ANALYSIS

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America market size for compression therapy, stood at USD 1.05 billion in 2018.  This dominance is attributable to the factors such as high investment in research and development, new product launches, and high prevalence of the venous diseases in the countries such as the U.S. High prevalence of diseases such as venous leg ulcer, lymphedema coupled with growing geriatric population in this region will drive the market growth of compression therapy in this region by 2026. For instance, according to Lymphatic Education & Research Network, there are approximately 10 million Americans suffering from lymphedema. Europe is expected to hold the second position in this market during the forecast period. Rise in the number of new product launches by dominant players is likely to drive for the expansion of the market in the region.

As per the market research, Asia-Pacific is projected to expand at the highest growth rate in the compression treatment market. Growing geriatric population, increasing disposable income, and increasing patient pool of chronic venous and lymphatic disorders are likely to propel to the market growth in the region. The market in Latin America and the Middle East & Africa is expected to expand at moderate CAGR owing to the increasing penetration of the advanced products, high unmet need, and improving healthcare infrastructure.

KEY INDUSTRY PLAYERS

Strong Focus on Inorganic Market Growth Strategy To Maintain the Dominance of Industry Leaders

Dominating players in this market include Sigvaris, EssityAktiebolag (publ), Arjo, and PAUL HARTMANN Pty. Ltd. The key players are engaged in the development of new product launches and expansion of distribution channels to establish their footprints across all the regions. Additionally, a strong focus on the strategic expansion of product portfolio through mergers, acquisitions & partnerships is likely to provide them strong foothold in this market.

LIST OF KEY COMPANIES PROFILED:

• SIGVARIS


• 3M


• Arjo


• PAUL HARTMANN Pty. Ltd


• medi GmbH & Co. KG


• EssityAktiebolag (publ)


• Smith & Nephew


• Bio Compression Systems, Inc.


• Tactile Systems Technology, Inc.


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• May 2021 – The FDA has given clearance to Koya Medical's Compression Therapy System for the Lower Extremities.


• February 2021 –DeRoyal signed a USD 1.2 million agreement with Tyndall and RCSI SWaT researchers. The main objective of this partnership was to transform compression wound therapy.


• July 2020 – AIROS Medical Inc., announced the launch of its updated compression therapy products. The company's new AIROS 6 Sequential Compression Therapy device and Arm Plus garments had been approved by the Food and Drug Administration for the first time in three years.


• November 2020 – Theragun, Inc. had acquired RP Sports, one of the leaders in clinical pneumatic compression.  Theragun, Inc. has acquired RP Sport’s groundbreaking clinical technology product line, RecoveryPump.

REPORT COVERAGE

The compression therapy market report offers qualitative and quantitative insights on this market and a detailed analysis of its size & growth rate for all possible segments. Along with this, the report provides an elaborative analysis of the market dynamics, restraints, competitive landscape, regional analysis, and opportunities. It further offers the regulatory scenario for key countries, key industry developments such as mergers & acquisitions, an overview of compression therapy by critical countries, snapshots on the novel & upcoming innovations in compression therapy.

Report Scope & Segmentation