According to the report by Expert Market Research (EMR), the global compression therapy market size reached a value of approximately USD 3.5 billion in 2022. Aided by the increasing prevalence of venous diseases and sports injuries and the expanding applications of compression therapy in various healthcare settings, the market is projected to further grow at a CAGR of 5.44% between 2023 and 2031 to reach a value of USD 5.6 billion by 2031.
Compression therapy involves the application of external pressure to the limbs or other parts of the body to increase blood flow, reduce swelling and inflammation, and accelerate healing. This therapy is commonly used in the management of conditions such as lymphedema, deep vein thrombosis (DVT), varicose veins, and sports injuries. Apart from medical uses, compression therapy also finds utility in sports and fitness as it aids in recovery and performance enhancement.
The global compression therapy market growth is being propelled primarily by the increasing incidence of venous diseases and sports injuries worldwide. With the aging global population and rising sedentary lifestyles, conditions like DVT and varicose veins have seen an upsurge, boosting the demand for compression therapy. Furthermore, the popularity of sports and physical activities, along with the associated risk of injuries, has expanded the market scope for compression therapy products like bandages, stockings, and wraps.
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In addition to this, advancements in compression therapy products are playing a vital role in accelerating compression therapy market expansion. Innovative designs that offer greater comfort and improved efficacy, and the advent of smart compression devices that provide real-time feedback, have made compression therapy more accessible and effective. This progress in product development is likely to continue, further driving the market growth.
Moreover, the growing awareness about the benefits of compression therapy among both healthcare professionals and patients has been instrumental in compression therapy market expansion. Education initiatives by healthcare organisations, product manufacturers, and governments have resulted in a more comprehensive understanding of the importance of compression therapy in treating various conditions and improving overall health.
Lastly, the demand for non-invasive and cost-effective treatment options in healthcare is also contributing to the compression therapy market development. Compared to surgical procedures, compression therapy is a low-risk, affordable method that can be self-administered, making it a preferred choice for patients and healthcare providers alike.
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Market Segmentation
The market can be divided based on technology, application, products, and region.
Market Breakup by Technology
- Static Compression Therapy
- Dynamic Compression Therapy
Market Breakup by Application
- Venous Leg Ulcers
- Deep Vein Thrombosis Treatment
- Lymphedema Treatment
- Other Applications
Market Breakup by Products
- Compression Garments
- Compression Pumps
- Compression Braces
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global compression therapy companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- 3M
- Paul Hartmann AG
- Smith & Nephew PLC
- Medline Industries
- DJO Global
- Bio Compression Systems
- Cardinal Health
- Arjo
- BSN Medical
- Medi gmbh
- Tactile Medical
- Medtronic Plc
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