Compression Therapy Market Size, Share & Trends Analysis Report By Technology (Static Compression Therapy, Dynamic Compression Therapy), By Product (Compression Pumps, Compression Stockings), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global compression therapy market size was valued at USD 4.14 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030, according to Grand View Research, Inc. Rise in the prevalence of vein disorders such as leg ulcers, deep vein thrombosis, lymphedema, varicose veins, and blood clots is a high impact driver. Products, especially stockings and bandages are being increasingly used to treat the aforementioned disorders, thus driving the market growth. The COVID-19 pandemic had a great impact on human life and economic activities. The rapid spread of the virus and the immense threat that the virus possessed to human life resulted in a large number of hospitalizations across different countries. This rise in the number of hospitalized patients had a positive impact on the compression therapy market. 

As hospitalized patients had to stay in one position for a very long time during their hospital stay, it led to a rise in the prevalence of venous disorders. For instance, according to a research article published in 2022, by PLOS, a non-profit organization in the U.S., upper extremity deep vein thrombosis can occur in COVID-19 patients despite adequate prophylaxis, especially in patients undergoing helmet CPAP ventilation.

Potential benefits associated with the application of compression therapy products in the treatment of the target diseases, such as reduction of leg and foot volume, venous reflux, and hypertension, are expected to propel the demand during the forecast period. In addition, the availability of various alternatives or modalities, ranging from bandages and stockings to pneumatic devices, to achieve efficient treatment provides several options to patients with varying conditions.

The market is predominantly driven by the growing number of orthopedic procedures due to a significant rise in the number of accidents and the obese population globally. The increasing geriatric population is highly susceptible to orthopedic conditions thereby contributing to the high number of orthopedic procedures. Moreover, varicose veins are also a common vein disorder in the geriatric population. For instance, according to a research article published by Chicago Vein Institute, in 2022, an estimated 50% of the U.S. population over 50 years old has varicose veins. These factors are leading to an upsurge in the consumption of the products.

In addition, compression is routinely applied in orthopedic surgeries to alleviate pain, reduce swelling, and facilitate rapid functional recovery. The aforementioned benefits are primarily responsible for the high penetration of the related products in the management of musculoskeletal injuries and are applied in succession to orthopedic operative procedures.

The increasing application of compression garments in sports medicine is expected to provide the market with lucrative growth opportunities. Compression therapy is being increasingly used to prevent inflammation and swelling following injury or trauma. These products are also highly utilized to increase blood circulation in the body and prevent the coagulation of fluids in tissue space, thus promoting muscle health.

Technology Insights

Static technology dominated the technology segment in 2022 with a market share of 64.5%, owing to the high convenience and user-friendly attributes of this technology. The sizable share garnered by this segment is attributable to the greater accessibility of these products in treating edema and sports-related injuries to enable pain and pressure relief. Benefits associated with static technology are also believed to drive the inclination of patients as well as physicians, thus accounting for a dominant share.

Moreover, the substantial share captured by this segment is also presumed to be a consequence of the high susceptibility of the growing diabetic and geriatric population base to the development of lymphedema, deep vein thrombosis, and chronic venous insufficiency.

Dynamic technology is expected to witness exponential growth during the forecast period as a consequence of the benefits associated, deeming it a more appropriate choice in the future. These benefits include external control, high venous return, and sustained effect.

Product Insights

In 2022, compression bandages held the dominant share of over 43.8% in the product segment. The aforementioned is believed to be a result of their high adoption in the treatment of edema and venous and lymphatic disorders of the lower limb. Benefits such as high-tension sustainability and high-cost efficiency, extensibility, and elasticity associated with bandages are presumed to be responsible for their adoption in a wide range of venous ailments.

In addition, the availability of a wide range of bandages, such as multilayer, long-stretch, and short-stretch, to fulfill patient requirements and yield better outcomes is leading to high segment growth. Bandages are considered a gold standard in the treatment of lymphedema and the occurrence of the majority of the vascular diseases led to the uptake of these bandages, which contributed to the dominant share in 2022.

Compression pumps are anticipated to exhibit significant CAGR over the coming years owing to the rise in the number of cases of lymphedema and other venous disorders. Moreover, pumps are designed to facilitate the delivery of controlled pressure as per the severity of the disorder, thereby rendering it more effective in comparison to the other alternatives.

Furthermore, pumps are increasingly being incorporated as an alternative to failed conservative measures. Single-compartment and multiple-chamber nonprogrammable lymphedema pumps are in certain cases, where patients are unresponsive to conventional options such as compressive garments, termed as medically necessary in the treatment of lymphedema and venous ulcers.

Regional Insights

North America captured a dominant share of the overall market of 43.0% in 2022. The growing geriatric population and obesity are responsible for the share attained by this region over the previous years. The presence of favorable government reimbursement plans and growing healthcare awareness levels are also key growth contributor factors across this region.

Moreover, the increasing burden of chronic vein disorders (CVD) is also a major factor driving the growth of the market in this region. For instance, according to a research article published in 2022, CVD is a major health problem in western countries and its prevalence ranges from 5-30% in the adult population. 

Asia Pacific is anticipated to witness a lucrative growth rate throughout the forecast period. The market is driven by high investments in R&D by key players as well as consistent initiatives to commercialize products at a relatively lower price. In addition, rising disposable income that raises the probability of usage of these products, and continuous upgradation of healthcare infrastructure is predicted to provide the market with remunerative growth opportunities.

Key Companies & Market Share Insights

In order to establish a strong position and strengthen their overall presence, manufacturers in the market are concentrating on carrying out various strategic initiatives. This includes partnership & collaboration, acquisition & mergers, expansion and increasing investment in R&D. Expansion of R&D capabilities helps the key players to develop and launch innovative products, which in turn helps to broaden their product portfolio and sustain a strong position in the market.

For instance, in June 2022, Stryker announced the opening of its new research & development facility in India. The 150,000-square-foot facility aims to help accelerate innovation in India and globally, and further support the company’s mission to make healthcare better. Some prominent players in the compression therapy market include:

• Cardinal Health

• Julius Zorn GmbH

• Hartmann AG

• Medi GmbH & Co.

• SIGVARIS

• BSN Medical GmbH

• ArjoHuntleigh

• 3M Health Care

• Spectrum Healthcare

• Bio Compression Systems, Inc.

• Stryker

• Gottfried Medical

Compression Therapy Market Report Scope

Global Compression Therapy Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global compression therapy market report based on technology, product, and region:

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Static Compression Therapy

  • Dynamic Compression Therapy 

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Compression Pumps

  • Compression Stockings

  • Compression Bandages

  • Compression Tape

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • India

    • China

    • South Korea

    • Thailand

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait