The global compression therapy market in terms of revenue was estimated to be worth $3.7 billion in 2022 and is poised to reach $4.9 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027.
Factors such as growing number patients suffering with deep vein thrombosis, varicose veins, and lymphedema, an increasing number of orthopedic surgeries, rising incidence sports injuries and accidents and the availability of clinical evidence supporting the use of compression therapy in the management of different diseases are anticipated to support the growth of market
The compression bandages segment is estimated to account for the largest share of the compression therapy market, by product, in 2021
Based on product, the compression therapy market is segmented into compression garments, compression braces, and compression pumps. The compression bandages segment is estimated to account for the largest share of this market in 2021 owing growing use of compression garments in a wide range of indications, such as varicose veins, edema, DVT, and lymphedema,
Varicose vein treatment is captured the highest market share of the compression therapy market, by technique, in 2021
Based on applications, the compression therapy market is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The varicose vein treatment segment accounted for the largest share of the compression therapy market in 2021.
The large share of this segment can primarily be attributed to high preference among healthcare providers for compression therapy as the first line of treatment for varicose veins and the procedural advantages offered by compression therapy products in the effective treatment of varicose veins.
Home care setting segment is estimated to grow at the highest CAGR during the forecast period
Based on distribution channel, the compression therapy market is segmented into hospitals clinics, pharmacies retailers, e-commerce platforms, and home care settings. In 2022, the hospitals clinics segment is expected to account for the largest share of compression therapy market. The home care settings is fast emerging as a distribution channel for various compression therapy products owing to the rising demand for products for preventive care and increasing number of people are opting for compression devices for home use.
North America is capture the largest market for compression therapy market in 2021
The global compression therapy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market in 2021.
Rapid growth in the geriatric population, rising number of orthopedic and spinal surgeries, and the presence of various compression therapy product manufacturers in the region. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the rapid expansion of the target patient population in several Asia Pacific countries.
The major players operating in the global compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M Company (US), ConvaTec Inc. (US), ArjoHuntleigh (Getinge Group, Sweden), and Julius Zorn GmbH (Germanay).
Source: https://www.marketsandmarkets.com/Market-Reports/compression-therapy-market-146548022.html
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