Compression Therapy Market to grow at a CAGR of 8.4% during the forecast period to reach up to USD 6.8 billion by 2031

Posted on 2022-07-21 by Sandeep in Healthcare, Pharmaceuticals // 0 Comments

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New York, 2022-Jul-21 — /EPR Network/ — Global Compression Therapy Market size was valued at USD 3.0 billion in 2021 and it is anticipated to grow at a CAGR of 8.4% during the forecast period to reach up to USD 6.8 billion by 2031.

The global compression therapy market report from Global Insight Services is the single authoritative source of intelligence on Compression Therapy Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Compression therapy uses controlled pressure on the lower extremities to increase blood flow and efficiency of the lymphatic and venous system. It is the most established and the most important method of treatment for venous and lymphatic diseases. According to an article published by the National Center for Biotechnology Information (NCBI) in 2018, lymphedema is a pandemic and affects approximately 250 million patients across the globe.

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Market Trends and Drivers

The presence of a large target patient population is boosting the market growth of the global compression therapy market. The target population for compression therapy products includes patients suffering from lifestyle-related diseases and vascular diseases, like obesity, diabetes, lymphedema, DVT, and varicose veins. The rising geriatric population across the globe is the primary factor supporting market growth as geriatric individuals are more susceptible to various health conditions. These factors are driving the demand and adoption of various treatment procedures, including compression therapy, among patients. Moreover, compression therapy products are increasingly being preferred as the first line of treatment for major target indications and for post-surgery rehabilitation.

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Global Compression Therapy Market Segmentation

The report analyses the global compression therapy market based on product, technique, application, distribution channel, and region.

Based on the distribution channel, it is segmented into pharmacies & retailers, hospitals & clinics, and E-commerce platforms. The e-commerce platforms is likely to boost the growth of the market during the forecast period. The cost advantages of distributing products through e-commerce platforms, a strong and fast-expanding logistical network maintained by e-commerce companies across the globe. The increasing strategic initiatives and investments undertaken by e-commerce companies as well as market players to strengthen their presence across emerging markets are boosting the growth of the market.

Geographical Analysis of Global Compression Therapy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region accounted for the major market share during the forecast period. The growing number of patients suffering from DVT, varicose veins, and lymphedema coupled with the increasing incidence of sports injuries and the presence of a number of compression therapy product manufacturers in the region are propelling the market growth.

Major Players in Compression Therapy Market

The key players in the global compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Paul Hartmann AG (Germany), Sanyleg S.r.l. (Italy), 3M (US), ConvaTec Inc. (US), ArjoHuntleigh (Sweden), Julius Zorn GmbH (Germany), Bio Compression Systems, Inc. (US), Cardinal Health, Inc. (US), and Smith & Nephew plc (UK).

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