A segment within the medical devices industry that uses compression garments and devices for improved blood circulation and managing medical conditions like venous insufficiency and lymphedema. It reduces swelling and prevents blood clots in affected areas.
According to the new market research report "Compression Therapy Market by Technique, Product (Bandages, Wraps, Stockings, Tapes, Ortho Braces, Pump), Application (Varicose Vein, DVT, Lymphedema Ulcer), Distribution Channel (Hospitals, Clinics, Pharmacies, E-Commerce) - Global Forecast to 2027"
The global compression therapy market in terms of revenue was estimated to be worth $3.7 billion in 2022 and is poised to reach $4.9 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027.
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Road accidents and sports injuries are among the major causes of death and disability across the globe. Accident cases are often associated with severe or mild injuries to the skeletal system. In such cases, compression therapy products are generally used to support the healing process and promote faster patient recovery.
Globally, an increasing number of people are actively participating in sports and physical activities (as a result of the growing awareness about health and fitness). This trend has, in turn, increased the incidence of sports injuries and injuries related to other physical fitness activities. In the US alone, ~8.6 million sports injuries are registered annually (source: US Department of Health and Human Services, data as of 2021).
Market key Players
The major players in the compression therapy market are DJO Global, Inc. (US), BSN medical (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), SIGVARIS (Switzerland), Sanyleg S.r.l. (Italy), 3M Company (US), ConvaTec Inc. (US), ArjoHuntleigh (Getinge Group, Sweden), and Julius Zorn GmbH (Germany).
Report Objectives
- To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
- To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To strategically analyze the market structure and profile the key players of the market and comprehensively analyze their core competencies
- To forecast the size of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
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