Compression therapy is recognized as a gold standard for the treatment of lymphedema, chronic venous insufficiency, and deep vein thrombosis as it is easy-to-use, safe, and provides effective treatment in a short time span. In addition, rapidly increasing lymphedema and deep vein thrombosis cases would boost the global demand for compression therapy products.
The global compression therapy estimated to be worth US$ 2,929.8 Mn by 2017 end and could expand at a CAGR of 5.4% over the forecast period of 2017–2025. North America accounted for the largest market share and was valued at US$ 1,323.3 Mn in 2016, and may grow with a CAGR of 5.5% over the forecast period.
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- Smith & Nephew
- Medtronic, Inc.
- ArjoHuntleigh (Getinge AB)
- Bio Compression Systems, Inc.
- BSN Medical
- medi GmBH & Co KG
- PAUL HARTMANN AG
- 2XU Pty. Ltd.
- Santemol Group Medikal
Preventive reactive healthcare to benefit compression therapy market
Growth of the global compression therapy is primarily driven by rising sports injuries boost demand for compression therapy products, increase in the number of orthopedic surgeries escalates demand for compression therapy and also rising awareness about use of compression therapy and others. This preference towards preventive healthcare over reactive, external partnerships in research driving compression therapy development and growth of compression therapy in health management associations.
However, lack of favorable reimbursement policies restricts market growth, vast product recalls and reported errors and lack of proper treatment/diagnosis options for disease might hamper the growth of the global compression therapy over the forecast period.
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Compression bandages squeeze out other products in compression therapy market
Compression Bandage held a significant share of around 44.5% in 2016 and is projected to dominate throughout the forecast period, registering higher CAGR as compared to other segments.
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Static Technology dominates Dynamic Technology in compression therapy market
Static hold a significant share of around 83.2% in 2016 and is expected to dominate throughout the forecast period, registering higher CAGR as compared to other segments. This type of compression therapy is used for the treatment of edema, continuous arterial circulation, and chronic venous insufficiency. Bandages, tapes, hosieries, and stocking are primarily included in the static compression therapy products. Among all of the above, elastic garments are mostly utilized as static compression stockings primarily applied in the lower limb to achieve effective compression.
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Hospitals largest end users in the compression therapy market
Hospitals hold a significant share of around 34.7% in the compression therapy market in 2016 and are likely to retain their commanding position throughout the forecast period, registering a higher CAGR as compared to other segments.
Focus on North America in the compression therapy market
Geographically, North America is predicted to be the largest regional market by 2017 end and is on track to expand at a CAGR of 5.5% over the forecast period. Asia-Pacific is poised to be the fastest growing market in terms of revenue growth in the global compression therapy, registering a CAGR of 5.6% over the forecast period.
Compression Therapy Market Taxonomy