Market Size of Compression Therapy Industry
Study Period | 2021 - 2029 |
Market Size (2024) | USD 4.01 Billion |
Market Size (2029) | USD 5.29 Billion |
CAGR (2024 - 2029) | 5.70 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Compression Therapy Market Analysis
The Compression Therapy Market size is estimated at USD 4.01 billion in 2024, and is expected to reach USD 5.29 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).
COVID-19 has significantly impacted the growth of the compression therapy market due to the increase in venous disorders caused in hospitalized patients by being in similar positions for a long time during their hospital stay. For instance, according to a study published in the National Library of Medicine, in January 2022, despite sufficient prophylaxis, upper extremity deep vein thrombosis (UEDVT) develops in COVID-19 patients. Furthermore, according to an article published by Contagion Live, in April 2022, the risks of deep vein thrombosis (DVT), pulmonary embolism, and bleeding events were increased by 3 or more months after the COVID-19 infection. Additionally according to The Guardian, in April 2022, COVID-19 was associated with a fivefold increase in the risk of deep vein thrombosis. Thus, with the increase in DVT due to COVID-19, the demand for compression therapy products increased during the pandemic. However, even though the market is gradually stabilizing as COVID-19 cases are declining, there is still an increase in hospital admission, which is expected to impact the market's growth.
Factors such as the growing burden of sports injuries and road accidents, technological advancements in wound management, and growth in the development of preventive and rehabilitative care are significant factors that are expected to drive growth in the market over the forecast period. For instance, according to the study published in the IJERPH, in May 2021, a total of 44% of adolescent athletes who took part in the study suffered an injury in Spain. The most common injuries were lumbar muscle strains (12.24%), ankle sprains (11.98%), and bone fractures (9.31%). Ankles (36.12%), knees (19.32%), and shoulders (6.47%) had the highest concentration of injuries. In all such cases, compression therapy is used to improve blood flow and body movement during the treatment. Furthermore, according to a WHO update, in 2021, rehabilitation is an essential part of universal health coverage along with the promotion of good health, prevention of disease, treatment, and palliative care which include compression therapy. There are several advantages associated with compression therapy, which are anticipated to augment the market's growth.
In addition, strategic activities such as product approval and launches are expected to drive the growth of this market over the forecast period. For instance, in April 2022, Koya Medical launched an active compression system for lymphedema and venous disease. It features a soft, breathable mesh garment with Koya's proprietary Flexframe spring-like segments for delivering compression technology. Such launches in the market will lead to increased adoption by sportspeople and others, driving the market's growth. Thus, the abovementioned factors such as the growing burden of sports injuries and road accidents, and growth in the development of preventive and rehabilitative care are expected to drive the market. However, the availability of alternative treatments and negligence, and lack of awareness regarding compression therapies are the factors expected to restrain the market growth.
Compression Therapy Industry Segmentation
As per the scope of the report, compression therapy is a simple and effective means of increasing blood flow activity in the lower limbs through strengthening vein support. It's a form of wound care that aims to gently apply pressure to the ankles and legs by wearing specifically designed stockings. It is used to treat edema and other venous and lymphatic disorders of the lower limb. The Compression Therapy Market Is Segmented By Technology (Static Compression Therapy, and Dynamic Compression Therapy), Product (Compression Garments, Compression Pumps, and Compression Braces), Application (Venous Leg Ulcers, Deep Vein Thrombosis Treatment, Lymphedema Treatment, and Other Applications) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
By Technology | |
Static Compression Therapy | |
Dynamic Compression Therapy |
By Product | |
Compression Garments | |
Compression Pumps | |
Compression Braces |
By Application | |
Venous Leg Ulcers | |
Deep Vein Thrombosis Treatment | |
Lymphedema Treatment | |
Other Applications |
Geography | ||||||||
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Compression Therapy Market Size Summary
The compression therapy market is poised for significant growth over the forecast period, driven by a combination of factors including the increasing prevalence of venous disorders, sports injuries, and road accidents. The market has experienced a surge in demand due to the impact of COVID-19, which heightened the incidence of deep vein thrombosis among hospitalized patients, thereby boosting the need for compression therapy products. As the market stabilizes with declining COVID-19 cases, the ongoing rise in hospital admissions continues to support market expansion. Technological advancements in wound management and the development of preventive and rehabilitative care further contribute to the market's growth trajectory. Strategic initiatives such as product launches and approvals are expected to enhance market penetration, with companies introducing innovative solutions like Koya Medical's active compression system.
North America is anticipated to maintain a substantial share of the market, driven by heightened awareness of venous ulcers, sports injuries, and road accident-related conditions. The region's growing number of sports-related injuries is expected to increase the adoption of compression therapy, thereby fueling market growth. Companies are actively engaging in partnerships, collaborations, and product launches to innovate and expand their presence in the market. The competitive landscape is characterized by the presence of both global and regional players, with significant contributions from companies like 3M, Paul Hartmann AG, and Smith & Nephew PLC. These dynamics, coupled with the introduction of advanced technologies and products, are set to propel the compression therapy market forward, with robust growth anticipated in the coming years.
Compression Therapy Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Burden of Sports Injuries and Road Accidents
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1.2.2 Technological Advancements in Wound Management
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1.2.3 Growth in Development of Preventive and Rehabilitative Care
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1.3 Market Restraints
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1.3.1 Availability of Alternative Treatments
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1.3.2 Negligence and Lack of Awareness Regarding Compression Therapies
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Technology
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2.1.1 Static Compression Therapy
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2.1.2 Dynamic Compression Therapy
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2.2 By Product
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2.2.1 Compression Garments
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2.2.2 Compression Pumps
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2.2.3 Compression Braces
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2.3 By Application
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2.3.1 Venous Leg Ulcers
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2.3.2 Deep Vein Thrombosis Treatment
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2.3.3 Lymphedema Treatment
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2.3.4 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 France
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2.4.2.2 Germany
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2.4.2.3 United Kingdom
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Compression Therapy Market Size FAQs
How big is the Compression Therapy Market?
The Compression Therapy Market size is expected to reach USD 4.01 billion in 2024 and grow at a CAGR of 5.70% to reach USD 5.29 billion by 2029.
What is the current Compression Therapy Market size?
In 2024, the Compression Therapy Market size is expected to reach USD 4.01 billion.