Compression Therapy Market Size, Share & Trends Report

Compression Therapy Market Size, Share & Trends Analysis Report By Technology (Static Compression Therapy, Dynamic Compression Therapy), By Product, By Region, And Segment Forecasts, 2018 - 2025

  • Published Date: Feb, 2018
  • Base Year for Estimate: 2016
  • Report ID: 978-1-68038-502-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 90

Industry Insights

The global compression therapy market size was valued at USD 2.9 billion in 2016 and is expected to witness a lucrative CAGR of 5.2% over the forecast period. Rise in prevalence of vein disorders such as leg ulcers, deep vein thrombosis, lymphedema, varicose veins, and blood clots is a high impact rendering driver. Products, especially stockings and bandages are being increasingly used to treat the aforementioned disorders, thus driving growth. According to the Department of Vascular Surgery, chronic vein abnormalities are present in approximately 50% of the individuals. 

North America compression therapy market

Potential benefits associated with application of these 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 growing number of orthopedic procedures due to a significant rise in the number of accidents and obese population globally. The increasing geriatric population is highly susceptible to orthopedic conditions thereby contributing to the high number of orthopedic procedures. These factors are leading to an upsurge in the consumption of the products. According to American Academy of Orthopedic Surgeons in 2006, knee and hip replacements are predicted to raise upto 673% and 174%, respectively, in the next 2 decades. This unprecedented growth in orthopedic procedures exemplifies the demand for 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 the injury or trauma. These products are also highly utilized to increase the blood circulation in the body, prevent coagulation of fluids in tissue space, thus promoting muscle health.

Technology Insights

Static technology dominated the technology segment in 2016 owing to the high convenience and user-friendly attributes of this technology. The sizable share garnered by this segment is attributable to 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 patient 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. In addition, presence of organizations consistently striving to promote awareness levels pertaining to its usability in certain indications. For instance, as per the National Medical Policy of Health Net, Inc., a government healthcare insurance provider recommended the usage of intractable lymphedema in the arms due to mastectomy for breast cancer.

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

Also, with healthcare professionals increasingly recommending the utilization of dynamic technology is anticipated to escalate. For instance, in 2008, American College of Physicians conducted a study on antithrombotic therapy for venous thromboemebolic disease, which exhibited positive results

Product Insights

In 2016, bandages held the dominant share of over 46.0% 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 wide range of venous ailments.

In addition, availability of wide range of bandages, such as multilayer, long-stretch, and short-stretch, to fulfill patient requirements and yield better outcomes are leading to high segment growth. Bandages are considered as a gold standard in the treatment of lymphedema and occurrence of majority of the vascular diseases led to the uptake of these bandages, which contributed to the dominant share in 2016.

Global compression therapy market

Compression pumps are anticipated to exhibit significant CAGR over the coming years owing to the rise in number of cases of lymphedema and others venous disorders. Moreover, pumps are designed to facilitate the delivery of controlled pressure as per severity of the disorder, thereby rendering it more effective in comparison to the other alternatives. In addition, as per Journal of the American Medical Association (JAMA) Dermatology, pump usage leads to considerable reduction in the hospital stay duration, cellulitis infection and outpatient visit rates.

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

The North America captured dominant share of the overall market in 2016. Growing geriatric population and high incidence of chronic venous disorders and obesity is responsible for the share attained by this region over the previous years. Presence of favorable government reimbursement plans and growing healthcare awareness levels are also key growth contributor factors across this region.

In addition, presence of wide number of established pharmaceutical companies, which are consistently striving for extensive commercialization and enhancing their geographical reach, is presumed to be a key factor responsible for heightened growth over this region. The U.S. held the largest share of in the North American compression therapy market in 2016 owing to burden of chronic target diseases in the U.S., which is driving the clinical urgency to use compression products. According to a research published in NCBI, the prevalence of chronic venous disorders was reported as the highest in the Western countries, which varies between 15.0% to 40.0% in females and 1.0% to 17.0% in males.

The Asia Pacific is anticipated to witness lucrative growth rate throughout the forecast period. The market is driven by high investments on 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 are predicted to provide the market with remunerative growth opportunities.

Japan held a substantial share of the Asia Pacific compression therapy market over the forecast period. This is presumed to be a consequence of technological innovations coupled with rising collaboration between global players and the expansion of the distribution network of their major products, such as compression pumps.

Compression Therapy Market Share Insights

Some of the key players are Medi GmbH & Co., Paul Hartmann AG, Julius Zorn GmbH, ArjoHuntleigh, SIGVARIS, Medtronic Plc, and BSN Medical GmbH. These players are deploying regional & distribution channel expansion, new product development and collaborative strategies to gain a greater share of the market.

In addition, the key players are increasingly becoming inclined toward maintaining competition through outsourcing. Manufactures are consistently striving to establish their production facilities into emerging economies thereby lowering their production costs and capitalize on untapped opportunities. For instance, BSN medicals acquired FarrowMed Medical solutions in June 2015. This acquisition was carried out to facilitate BSN medical in expansion of lymphedema treatment solutions and provide competitive edge in venous disease management and lymphedema segments.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Germany, UK, France, Japan, China, India, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global compression therapy market report on the basis of technology, product, and region:

  • Technology Outlook (Revenue, USD Million, 2014 - 2025)

    • Static Compression Therapy

    • Dynamic Compression Therapy

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Compression Pumps

    • Compression Stockings

    • Compression Bandages

    • Compression Tapes

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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