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The global compression therapy market size was valued at USD 3.01 billion in 2018 and is projected to reach USD 4.51 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period.
Compression therapy uses a 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 worldwide. The rise in prevalence of vein disorders such as venous leg ulcer, lymphedema, deep vein thrombosis, etc., increasing geriatric population, and the rise in the adoption of pressure therapies for the treatment of these vein disorders are the key factors likely to drive the compression therapy market growth during the forecast period.
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Growing Adoption of Compression Garment in Venous Disorder Management to Drive the Growth
Disorders such as venous leg ulcers and lymphedema are hard to heal. However, innovations in products and growing adoption of it as an effective treatment option have been observed as one of the significant compression therapy market trends. This therapy has been clinically proven to accelerate venous leg ulcer (VLU) healing time and to decrease the recurrence rate. It also effectively manages the lymphedema. Also, robust research activities by top market players in product developments are resulting in growing introduction of novel products in the market.
Increasing Prevalence of Lymphatic Disorders and Venous Leg Ulcers to Boost the Market Growth
The prevalence of lymphatic and venous disorders is increasing at a rapid pace, globally. The factors contributing the development of these disorders include immobility, previous deep vein thrombosis, pregnancy, obesity, and varicose veins. Also, factors such as chronic venous insufficiency, breast cancer, and surgeries lead to the lymphatic disorders. Thus, increasing prevalence of these diseases and rising awareness regarding advanced treatments such as compression garments and other devices are likely to drive the market growth. For instance, according to an article published by Vascular Medicine, venous leg ulceration is the most commonly occurring medical condition worldwide which affects around 1.5% of the general population and up to 5% of the geriatric population.
New Developments in Products to Fuel the Market Growth
Various new developments in compression therapy are projected to propel this therapy market growth during the forecast period. Conventional treatment options such as single-component compression systems are advanced compression therapy systems which are multi-component and bi-layer. The multi-component system is made up of a crepe layer, wool padding, an elastic bandage, and an elastic cohesive bandage. The interface pressure under the bandages increases with addition of each layer of compression, making multiple system superior and more effective to single component system. Also, increasing number of industry giants are focusing on the development of the advanced compression therapy systems with enhanced effectiveness. For example, in January 2020, AIROS Medical Inc., a medical technology manufacturer specializing in this therapy devices, received FDA approval to market its updated AIROS 8 Sequential Compression Therapy Device and garment system.
High Cost of Compression Pumps & Lack of Awareness about Compression Therapy in Developing Countries to Hinder Growth
Limited knowledge about compression an effective treatment option for management of lymphatic and venous disorders in many developing countries is likely to restrict the compression therapy market growth. Moreover, one of the major hindrances in the growth of the market is the high cost attributed to the compression pumps. However, increasing competition leading to pricing pressure and growing initiatives by leading players in rising the awareness about the availability of this therapy in the market for the treatment of venous leg ulcer, lymphedema, etc. are likely to leverage expansion opportunities in coming years.
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Compression Garments Segment to Hold a Leading Market Share
In terms of product, the market has been segmented into compression garments, compression pumps, and others. Among them, the compression garment segment is held dominating share of this market. Growing adoption of advanced compression therapy products and rising geriatric population with lymphatic disorders are some of the major factors driving the compression garments segment's growth. The compression pumps segment is expected to witness the highest growth rate, owing to the increased number of launches by the market players and its rising adoption due to the various benefits offered by these pumps for effective treatment of lymphedema. For instance, In May 2017, Tactile Systems Technology, Inc. launched the first and only pneumatic compression device Flexitouch for lymphedema treatment in U.S.
Lymphedema Segment to Dominate During the Forecast Period
Based on application, the market is segmented into venous leg ulcer, DVT, lymphedema, and others. The lymphedema segment dominated the market in 2018. The growth is attributed to the rising prevalence of lymphedema and growing adoption of advanced products for its treatment. Compression pumps are increasingly recognized as an effective treatment for lymphedema as they help in improving the venous pumps in lymphatic patients. 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 worldwide.
Venous leg ulcer is among the other major application areas of this therapy. Growing prevalence of this condition, along with the introduction of new compression therapy devices for its treatment, is expected to drive the growth of this segment during the forecast period.
Higher Adoption of Compression Therapy in Hospitals to Enable the Dominance of the Segment
Based on end-user, the market segments include hospitals & clinics, nursing care centers, home care, and others. The hospital segment is anticipated to hold the largest share in the market during the forecast period owing to the rise in the hospitalization rate and the higher adoption of compression therapy in hospitals. Also, easy availability of advanced products, presence of skilled healthcare providers, and favorable reimbursement for this therapy are likely to contribute to hospitals segment to lead the market. The home care segment is likely to register a lift in 2026, marking the highest CAGR. This is due to reasons such as the increase in the geriatric patient pool and growing preference for home care settings products for the treatment of venous and lymphatic disorders.
North America Compression Therapy Market Size, 2015-2026 (USD Billion)
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Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America market size for compression therapy, stood at USD 1.05 billion in 2018. This dominance is attributable to the factors such as high investment in research and development, new product launches, and high prevalence of the venous diseases in the countries such as the U.S. High prevalence of diseases such as venous leg ulcer, lymphedema coupled with growing geriatric population in this region will drive the market growth of compression therapy in this region by 2026. For instance, according to Lymphatic Education & Research Network, there are approximately 10 million Americans suffering from lymphedema. Europe is expected to hold the second position in this market during the forecast period. Rise in the number of new product launches by dominant players is likely to drive for the expansion of the market in the region.
As per the market research, Asia-Pacific is projected to expand at the highest growth rate in the compression treatment market. Growing geriatric population, increasing disposable income, and increasing patient pool of chronic venous and lymphatic disorders are likely to propel to the market growth in the region. The market in Latin America and the Middle East & Africa is expected to expand at moderate CAGR owing to the increasing penetration of the advanced products, high unmet need, and improving healthcare infrastructure.
Strong Focus on Inorganic Market Growth Strategy To Maintain the Dominance of Industry Leaders
Dominating players in this market include Sigvaris, EssityAktiebolag (publ), Arjo, and PAUL HARTMANN Pty. Ltd. The key players are engaged in the development of new product launches and expansion of distribution channels to establish their footprints across all the regions. Additionally, a strong focus on the strategic expansion of product portfolio through mergers, acquisitions & partnerships is likely to provide them strong foothold in this market.
An Infographic Representation of Compression Therapy Market
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The compression therapy market report offers qualitative and quantitative insights on this market and a detailed analysis of its size & growth rate for all possible segments. Along with this, the report provides an elaborative analysis of the market dynamics, restraints, competitive landscape, regional analysis, and opportunities. It further offers the regulatory scenario for key countries, key industry developments such as mergers & acquisitions, an overview of compression therapy by critical countries, snapshots on the novel & upcoming innovations in compression therapy.
Value (USD billion)
By End User
Fortune Business Insights says that the market size stood at USD 3.01 billion in 2018 and is projected to reach USD 4.51 billion by 2026.
The value of this market was at USD 3.01 billion in 2018.
The market is projected to grow at a CAGR of 5.2% in the forecast period (2019-2026).
The compression garment segment is the leading segment in this market by product type.
Increase in prevalence of venous and lymphatic disorders and growing research & de-velopment activities in this field are driving the growth of the market.
Sigvaris, Essity Aktiebolag (publ), Arjo, and PAUL HARTMANN Pty. Ltd are some of the top players in the market.
North America is expected to hold the highest share in the market.
Growing adoption of compression bandages and stockings for the treatment of venous leg ulcer and lymphedema and strategic investments by key players in expanding the treatment options are some of the top market trends.
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