Market Trends of Compression Therapy Industry
This section covers the major market trends shaping the Compression Therapy Market according to our research experts:
Compression Garments Segment is Expected to Witness High Growth Over the Forecast Period
Compression garments have been widely used in medical treatments. In many sportswear, it is an important addition to athletics and fitness activities. It is expected to enhance the performance of the athletes, decrease the possibility of injury, and accelerate the recovery process. In many burn cases, compression garments are very helpful in minimizing the formation of hypertrophic scars and enhancing the maturation process of scars. Furthermore, according to the study published in BMC Sports Science, Medicine and Rehabilitation, in March 2021, all athletes in the study utilized compression garments primarily to avoid injury recurrence, but they also utilized them to alleviate the symptoms of a present sports injury. Most athletes said the compression garments had a beneficial effect on them. Compression garments were utilized more during athletic involvement than afterwards. Thus, the adoption of compression garments in sports activities and after injuries are expected to drive segmental growth.
In addition, a rise in initiatives from the key market players to adopt the latest technology in compression therapy garments will lead to increased adoption of these products, thereby driving the growth of this segment. For instance, in March 2022, the "Move Skin" Spring and Summer 2022 collection from Danskin (by Goldwin Ltd. Japan) was introduced online and in several retail locations. This is the first collection in Japan to incorporate LYCRA FitSense technology, a water-based dispersion screen printed onto LYCRA fiber stretch clothing to offer lightweight, tailored support. Therefore, owing to the abovementioned factors, this segment is expected to witness robust growth during the forecast period.
North America is Expected to Dominate the Compression Therapy Market Over the Forecast Period
North America is expected to hold a significant share in terms of revenue generation over the forecast period. Some primary reasons include good awareness regarding early diagnosis of venous ulcers, arthritis, sports injuries, and patients suffering from road accidents. For instance, as per the 2021 statistics by the Brain Injury Research Institute, about 1.6 million to 3.8 million recreation and sport-related concussions occur each year in the United States. Furthermore, according to Sports Injury Statistics update 2022, in the United State, out of 30 million children and teens participate in organized sports, more than 3.5 million injuries occur each year, which cause some loss of time of participation. Hence, the rising number of sports injuries in this region will lead to increased adoption of compression therapy during the healing of injuries, thereby driving the market growth in this region.
Additionally, companies are engaged in partnerships, collaborations, acquisitions, mergers, and product launches to innovate in the telemedicine market driving growth in the forecast period. For instance, in January 2022, AIROS Medical, Inc., a designer, manufacturer, and distributor of compression therapy devices, and Fist Assist Devices, LLC (Fist Assist), an innovative medical device company, launched an e-commerce website, www.fistassistusa.com, for the sale of the Fist Assist FA-1 compression device in the United States. This will increase sales of compression therapies via online platforms, driving market growth in this region. Thus, owing to the abovementioned factors, the market is expected to show growth in the North American region.
