Compression Therapy Market by Product (Compression Bandages & Wraps, Compression Braces, Compression Garments), Technology (Dynamic Compression, Static Compression), Application, Distribution - Global Forecast 2024-2030
Description
Compression Therapy Market by Product (Compression Bandages & Wraps, Compression Braces, Compression Garments), Technology (Dynamic Compression, Static Compression), Application, Distribution - Global Forecast 2024-2030
The Compression Therapy Market size was estimated at USD 3.54 billion in 2023 and expected to reach USD 3.72 billion in 2024, at a CAGR 5.19% to reach USD 5.05 billion by 2030.
Compression therapy involves the application of controlled pressure to the limbs or other parts of the body to alleviate pain, manage chronic venous diseases, and speed up recovery from certain medical conditions. Medical indications such as varicose veins, deep vein thrombosis (DVT), lymphedema, and leg ulcers as a result of chronic venous insufficiency (CVI) represent primary areas where compression therapy is applied. Escalating prevalence of venous disorders and diabetes-related foot ulcers, which create substantial demand for compression treatments. Technological strides in compression devices and materials are bolstering market expansion, allowing for more innovative and effective products. Moreover, a globally aging demographic naturally inclined towards a greater need for compression therapy, aligning with increased healthcare spending that makes advanced treatments more accessible. Sporting activities increase awareness of the benefits of compression therapy in injury prevention and expedited rehabilitation. Enhanced public knowledge paired with easily accessible, user-friendly products also propel this market forward. Potential market opportunities are ripe in the burgeoning field of smart textiles and wearable technologies, rich with unexplored applications for compression therapy. The rise in healthcare infrastructure within developing nations and strategic industry partnerships equally serve as catalysts for market growth. Nonetheless, this sector faces challenges, including stringent regulatory environments and inconsistent reimbursement landscapes that may impede progress. The lack of industry-wide standardization also impacts product adoption. Limited market penetration in emerging economies due to underdeveloped healthcare systems and distribution inadequacies presents further hurdles, as does intense competition and price sensitivity that can impair profitability. Additionally, advancements in customization, such as 3D printing, promise personalized compression therapy solutions. To maintain momentum, producers are encouraged to substantiate their products with clinical evidence, fostering trust and acceptance among healthcare professionals and patients.
Regional Insights
The compression therapy market in the United States, and Canada is mature and driven by a high prevalence of venous diseases and sports injuries, coupled with advanced healthcare infrastructure. The consumer need in the US is geared towards innovative and more comfortable compression products that can be integrated into a dynamic lifestyle. Customer purchasing behavior tends to favor products with clinical backing and FDA approval. There is ongoing investment in research and development of smart compression devices, as evidenced by the latest patents that integrate wearable technology. The Asia Pacific market for compression therapy is expanding, driven by a growing diabetic population and increased healthcare spending. Recent investments and initiatives are focusing on local manufacturing and distribution networks to enhance market penetration. The European Union presents a robust market for compression therapy with high product standards and significant opportunities for industry players. The adoption of new technologies and products follows stringent regulatory approvals leading to a preference for scientifically validated compression therapy options. There is also a strong trend of sustainable and eco-friendly product offerings, aligning with European consumer values. The growth in the Middle East's compression therapy market is influenced by increased healthcare infrastructure and a rising incidence of chronic diseases. The wealthier customer segments tend toward high-end products, while awareness campaigns target the broader population. International collaborations are evident, fostering innovation and market expansion in the region.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Compression Therapy Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growing Aging Population and Presence of a Large Target Patient Population
- Increase in the Number of Sports Injuries and Accidents
- Growing Awareness among Patients Regarding Treatment Options
- Market Restraints
- Side Effects with the Use of Compression Therapy Products
- Market Opportunities
- Recent Technological Advancements in Compression Therapy Products
- Rising Number of Orthopedic Procedures
- Market Challenges
- Availability of Alternative Treatments
- Market Segmentation Analysis
- Product: Compression bandages and wraps are primarily used for the first-aid treatment
- Technique: Compression hosiery and compression bandages significantly used to provide static compression therapy
- Application: Significant application in deep vein thrombosis as a non-invasive and prominent treatment
- Distribution Channel: e-Commerce emerged as a efficient solution for market expansion in emerging countries
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Compression Therapy Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Compression Therapy Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Two 3M Veraflo Therapy dressings receive first-ever FDA clearance for hydromechanical removal of non-viable tissue
In a groundbreaking advancement for compression therapy, 3M Health Care has achieved an unprecedented milestone with the FDA approval of its 3M Veraflo Therapy. This pioneering treatment includes the 3M Veraflo Cleanse Choice Complete Dressing and the 3M V.A.C. Veraflo Cleanse Choice Dressing, which are both specifically designed for the hydromechanical removal of infectious materials, non-viable tissue, and wound debris. This innovative approach has been shown to minimize the need for repetitive surgical debridements. Moreover, it fosters the growth of granulation tissue, thereby enabling a conducive environment for effective wound healing. This marks a significant advancement in the management of complex wounds, representing a major leap forward for patient care in compression therapy.
AIROS Medical Receives FDA Clearance to Market New Peristaltic Pneumatic Compression Device, Truncal Garments for Lymphedema Treatment
AIROS Medical, Inc. announced the FDA's 510(k) clearance for its AIROS 8P Sequential Compression Therapy device along with an expanded range of garments, including those catering to lower truncal regions. This latest development stands to benefit the 5-10 million Americans affected by lymphedema, and the millions more suffering from chronic venous insufficiency (CVI). The 8P model, building on the success of its predecessor, introduces a pants-like truncal garment ideal for patients experiencing swelling in the lower legs, abdomen, and pelvis. Additionally, the device now features a Peristaltic Mode, optimizing upper body therapy with a gentle wave-like compression pattern that is often recommended by healthcare professionals.
Aspen Medical Products Partners with NICE Recovery Systems to Launch Integrated Bracing and Cold Compression Solution
Aspen Medical Products has joined forces with NICE Recovery Systems, a trailblazer in sports injury recovery, to forge a pioneering strategic alliance. This collaboration is set to revolutionize the patient care landscape by integrating NICE's cutting-edge cold compression technology with Aspen's top-of-the-line bracing products. The fusion of these technologies offers enhance post-surgical and injury recovery processes by synergizing cold therapy with dynamic pneumatic compression.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Compression Therapy Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Compression Therapy Market, highlighting leading vendors and their innovative profiles. These include 3M Company, AIROS Medical, Inc., Arjo, Bio Compression Systems, Inc., Cardinal Health, Inc., ConvaTec Group PLC, DJO, LLC, Essity Aktiebolag (publ), Julius Zorn GmbH, KOYA MEDICAL, L&R Group, medi GmbH & Co. KG, Medtronic PLC, Milliken & Company, Mölnlycke Health Care AB, Paul Hartmann AG, Sanyleg SRL, Sigvaris Group, Smith & Nephew PLC, Tactile Systems Technology, Inc., Thuasne SA, and Zimmer Biomet.
Market Segmentation & Coverage
This research report categorizes the Compression Therapy Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product
- Compression Bandages & Wraps
- Compression Braces
- Compression Garments
- Compression Pumps
- Compression Stockings
- Technology
- Dynamic Compression
- Static Compression
- Application
- Deep Vein Thrombosis Treatment
- Leg Ulcer Treatment
- Lymphedema Treatment
- Varicose Vein Treatment
- Distribution
- E-Commerce Platforms
- Hospitals & Clinics
- Pharmacies & Retailers
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
181 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing Aging Population and Presence of a Large Target Patient Population
- 5.1.1.2. Increase in the Number of Sports Injuries and Accidents
- 5.1.1.3. Growing Awareness among Patients Regarding Treatment Options
- 5.1.2. Restraints
- 5.1.2.1. Side Effects with the Use of Compression Therapy Products
- 5.1.3. Opportunities
- 5.1.3.1. Recent Technological Advancements in Compression Therapy Products
- 5.1.3.2. Rising Number of Orthopedic Procedures
- 5.1.4. Challenges
- 5.1.4.1. Availability of Alternative Treatments
- 5.2. Market Segmentation Analysis
- 5.2.1. Product: Compression bandages and wraps are primarily used for the first-aid treatment
- 5.2.2. Technique: Compression hosiery and compression bandages significantly used to provide static compression therapy
- 5.2.3. Application: Significant application in deep vein thrombosis as a non-invasive and prominent treatment
- 5.2.4. Distribution Channel: e-Commerce emerged as a efficient solution for market expansion in emerging countries
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 6. Compression Therapy Market, by Product
- 6.1. Introduction
- 6.2. Compression Bandages & Wraps
- 6.3. Compression Braces
- 6.4. Compression Garments
- 6.5. Compression Pumps
- 6.6. Compression Stockings
- 7. Compression Therapy Market, by Technology
- 7.1. Introduction
- 7.2. Dynamic Compression
- 7.3. Static Compression
- 8. Compression Therapy Market, by Application
- 8.1. Introduction
- 8.2. Deep Vein Thrombosis Treatment
- 8.3. Leg Ulcer Treatment
- 8.4. Lymphedema Treatment
- 8.5. Varicose Vein Treatment
- 9. Compression Therapy Market, by Distribution
- 9.1. Introduction
- 9.2. E-Commerce Platforms
- 9.3. Hospitals & Clinics
- 9.4. Pharmacies & Retailers
- 10. Americas Compression Therapy Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Compression Therapy Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Compression Therapy Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Two 3M Veraflo Therapy dressings receive first-ever FDA clearance for hydromechanical removal of non-viable tissue
- 13.3.2. AIROS Medical Receives FDA Clearance to Market New Peristaltic Pneumatic Compression Device, Truncal Garments for Lymphedema Treatment
- 13.3.3. Aspen Medical Products Partners with NICE Recovery Systems to Launch Integrated Bracing and Cold Compression Solution
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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