Compression therapy devices are medical devices used to apply pressure to the legs or other parts of the body to improve circulation and reduce swelling. These devices include compression stockings, compression pumps, and compression sleeves. The market for compression therapy devices is expected to grow in the coming years due to an increase in the aging population, a rise in chronic diseases such as diabetes and obesity, and a growing awareness of the benefits of compression therapy. Factors that may hinder the growth of the market include a lack of reimbursement for these devices and the high cost of some of the devices.
Worldwide revenue from the compression therapy devices market stands at US$ 3.1 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 5.2% to reach a valuation of US$ 5.4 Bn by the end of 2033.
|Compression Therapy Devices Market Size (2022)||US$ 3.1 Bn|
|Projected Market Value (2033)||US$ 5.4 Bn|
|Global Market Growth Rate (2023-2033)||5.2% CAGR|
|Market Share of Top 5 Countries||53.5%|
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One of the key drivers of the compression therapy devices market is the increasing prevalence of chronic conditions such as diabetes and obesity, which can lead to circulation problems and an increased risk of DVT. As the number of people affected by these conditions continues to rise, there is a growing demand for compression therapy devices.
Another important factor driving the growth of the compression therapy devices market is the growing awareness about the benefits of compression therapy. Compression therapy is non-invasive, relatively inexpensive, and can be performed at home, making it an attractive option for many patients.
- Mölnlycke Health Care AB
- Arjo (Huntleigh Healthcare Limited)
- Brownmed, Inc.
- Essity Aktiebolag (publ) (BSN Medical Inc.,)
- Cardinal Health.
- Daesung Maref Co., Ltd
- AIROS Medical, Inc. (Devon Medical Products)
- Enovis (DJO Global, Inc)
- FlowAid Medical Technologices
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The market is segmented by product, applications and end-users. The product segment includes compression stockings, compression bandages, compression pumps and others. Applications are segmented into venous insufficiency, lymphedema, and deep vein thrombosis. End-users are segmented into hospitals, homecare, and others.
The compression therapy devices market is also characterized by the presence of several major players, such as Medtronic, SIGVARIS, BSN medical, and DJO Global. These companies offer a wide range of compression therapy devices, including compression stockings, compression bandages, and compression pumps.
In conclusion, the compression therapy devices market is expected to continue to grow in the coming years, driven by increasing prevalence of chronic conditions such as diabetes and obesity, and growing awareness about the benefits of compression therapy. This type of therapy is non-invasive, relatively inexpensive and can be performed at home, making it an attractive option for many patients. As the market is becoming more competitive, the companies are focusing on innovation, development and expansion of their product portfolio to cater to the needs of the end-users.
The overall market for compression therapy products is highly fragmented, with several competitors producing compression therapy products. To promote their products, key players such as Molnlycke Health Care AB and 3M Company are expanding their business into untapped markets and acquiring smaller companies. Other companies are following in their footsteps to do mergers and acquisitions, partnerships and collaborations, and new product launches in order to meet consumer demand and grow their customer base.
The following are some key development strategies employed by industry participants in the Compression Therapy Market:
- 3M Company signed a three-year collaboration agreement with Wrapmate in May 2021.
- On November 9, 2018, Brownmed announced the release of Spark Kinetic Sleeves, which combine compression and kinesiology to help improve circulation, performance, and support in a variety of daily activities.
- In May 2020, the Arm Plus garments were released by AIROS Medical, Inc. and received FDA 510(k) clearance. Arm, shoulder, chest, and back lymphedema are treated with this garment.
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Key Segments Covered in Compression Therapy Devices Industry Research
- Pneumatic Compression Therapy
- Static Compression Therapy
- Anti embolism/Compression Stockings
- Compression Bandages
- Compression Garments
- Lower Compression Garments
- Upper Compression Garments
- 18-21 mmHg
- 23-32 mmHg
- 34-49 mmHg
- more than 50 mmHg
- Institutional Sales
- Ambulatory Surgical Centers
- Nursing Facilities
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
- Specialized Orthopedic Stores
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