Compression Therapy Market- Industry Share & Trends 2030
The worldwide compression therapy market is poised to achieve a market worth of US$ 3.01 billion in 2022, with projections to escalate to US$ 4.59 billion by 2030. This growth is underpinned by a consistent and optimistic compound annual growth rate (CAGR) of 5.4%, ensuring sustained market expansion throughout the forecast period spanning from 2022 to 2030.
Strong demand from diabetics and the
Highlighting the key influencing factors, the study opines that the growing diabetic population across the globe has increased the demand for compression stockings and diabetic socks. Moreover, innovations like NPWT (Negative Pressure Wound Therapy) have turned out to be the modus operandi for managing acute and chronic wounds. Also, advancements in pneumatic compression therapy have proven to be effective and safe in treating lymphedema (caused by HNC – head and neck cancer) as stated by “Supportive Care in Cancer”.
Key Takeaways from Compression Therapy Market Study
The static compression therapy held the largest market share in 2019 and the trend is expected to continue in the forecast period (2020-203
Chronic ulcers are expected to hold more than 69% of market share in terms of revenue in 2020
Among all distribution channel, institutional sales is the leading segment followed by retail sales. Retail sales segment is anticipated to grow at CAGR of 6% over the forecast period
North America and Europe are collectively expected to hold more than 67% of revenue share in 2020 while East Asia is expected to show greater growth potential in the forecast period.
Expansion with Research: The Latest Trend
The compression therapy market players are onto the expansion spree to stand out.
For instance –
In May 2020, British Medical Journal published a study that stated that anti-embolism stockings are all the more effective with respect to DVT (deep vein thrombosis). This finding is bound to influence players to go for production of anti-embolism stockings in the forecast period
Avanos Medical Inc., in the year 2018, announced acquiring CoolSystems, Inc. The products post acquisition were marketed as “Game Ready”
Huntleigh Healthcare Ltd.’s IPC (Intermittent Pneumatic Compression) products under the “Hydroven” brand are a noteworthy addition to vascular assessment systems
Key Participant Insights
The global market is set to broaden its scope in the forecast period, stimulated by high prevalence rate of diabetes, rising geriatric population globally and adoption of advanced compression therapy systems which can be used as bi-layer and multi-layer for conventional treatment option. In addition to this, strict guidelines limits the design space for potential conceptual ideas and availability of alternate therapies has augmented the sales of compression products.
The key market players covered by FMI include:
Paul Hartmann AG,
Sigvaris AG,
Cardinal Health Inc.
3M Health Care Ltd.
Key Segment
Product Type
Pneumatic Compression Therapy
Non-Segmented Pneumatic Compression Pumps
Pneumatic Compression Sleeves
Lower Pneumatic Compression Sleeves
Upper Pneumatic Compression Sleeves
Segmented Pneumatic Compression Pumps
Segmented Pneumatic Compression Pumps with Calibrated Gradient
Segmented Pneumatic Compression Pumps without Gradient
Static Compression Therapy
Anti-Embolism Stockings
Compression Bandages
Compression Garments
Lower Compression Garments
Upper Compression Garments
Compression Therapy Market by Indication:
Chronic Ulcers
Venous Leg Ulcers
Diabetic Foot Ulcers
Pressure Ulcers
Non-healing Surgical Wounds
Traumatic Wounds
Burn Cases
Compression Therapy Market by Distribution Channel:
Institutional Sales
Hospitals
Clinics
Ambulatory Surgical Centers
Nursing Facilities
Retail Sales
Hospital Pharmacies
Retail Pharmacies
Online Sales
Compression Therapy Market by Region:
North America Compression Therapy Market
Latin America Compression Therapy Market
Europe Compression Therapy Market
East Asia Compression Therapy Market
South Asia & Pacific Compression Therapy Market
Middle East & Africa (MEA) Compression Therapy Market
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