Compression Therapy Market is predicted to reach US$ 4.59 Billion by 2030 | FMI

The global Compression Therapy Market is expected to reach US$ 3.01 billion in 2022 and US$ 4.59 billion by 2030, expanding at a CAGR of 5.4%, indicating consistent positive market growth over the forecast period (2022-2030).

Highlighting the key influencing factors, the study opines that the growing diabetic population across the globe has increased the demand for compression stockings and diabetic socks. Moreover, innovations like NPWT (Negative Pressure Wound Therapy) have turned out to be the modus operandi for managing acute and chronic wounds. Also, advancements in pneumatic compression therapy have proven to be effective and safe in treating lymphedema (caused by HNC – head and neck cancer) as stated by “Supportive Care in Cancer”.

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Key Takeaways from Compression Therapy Market Study

The static compression therapy held the largest market share in 2019 and the trend is expected to continue in the forecast period (2020-2030)

Chronic ulcers are expected to hold more than 69% of market share in terms of revenue in 2020

Among all distribution channel, institutional sales is the leading segment followed by retail sales. Retail sales segment is anticipated to grow at CAGR of 6% over the forecast period

North America and Europe are collectively expected to hold more than 67% of revenue share in 2020 while East Asia is expected to show greater growth potential in the forecast period.

"Acquisitions and launch of compression products along with increasing demand for compression therapy offering increased mobility, enhance athletic performance and safety profiles are driving the growth of global compression therapy market” says the FMI Analyst

Expansion with Research: The Latest Trend

The compression therapy market players are onto the expansion spree to stand out.

For instance –

In May 2020, British Medical Journal published a study that stated that anti-embolism stockings are all the more effective with respect to DVT (deep vein thrombosis). This finding is bound to influence players to go for production of anti-embolism stockings in the forecast period

Avanos Medical Inc., in the year 2018, announced acquiring CoolSystems, Inc. The products post acquisition were marketed as “Game Ready”

Huntleigh Healthcare Ltd.’s IPC (Intermittent Pneumatic Compression) products under the “Hydroven” brand are a noteworthy addition to vascular assessment systems

Key Companies Profiled:

Paul Hartmann AG

Sigvaris AG

BSN Medical GmbH

Cardinal Health Inc.

3M Health Care Ltd

Key Segments of Compression Therapy Industry Survey

Compression Therapy Market by Product:

Pneumatic Compression Therapy

Non-segmented Pneumatic Compression Pumps

Pneumatic Compression Sleeves

Lower Pneumatic Compression Sleeves

Upper Pneumatic Compression Sleeves

Segmented Pneumatic Compression Pumps

Segmented Pneumatic Compression Pumps with Calibrated Gradient

Segmented Pneumatic Compression Pumps without Gradient

Static Compression Therapy

Anti-embolism Stockings

Compression Bandages

Compression Garments

Lower Compression Garments

Upper Compression Garments

Compression Therapy Market by Indication:

Chronic Ulcers

Venous Leg Ulcers

Diabetic Foot Ulcers

Pressure Ulcers

Non-healing Surgical Wounds

Traumatic Wounds

Burn Cases

Compression Therapy Market by Distribution Channel:

Institutional Sales

Hospitals

Clinics

Ambulatory Surgical Centers

Nursing Facilities

Retail Sales

Hospital Pharmacies

Retail Pharmacies

Online Sales