Compression Therapy Market worth $3.9 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 13, 2021 /PRNewswire/ -- According to the new market research report "Compression Therapy Market by Technique (Static, Dynamic), Product (Garments (Stockings, Bandages, Wraps), Ortho Braces, Pump), Application (Varicose Vein, DVT, Lymphedema, Leg Ulcer), Distribution (Clinics, Pharmacies, E-Comm) - Global Forecasts to 2026", published by MarketsandMarkets™, the market is expected to grow from an estimated USD 3.0 billion in 2021 to USD 3.9 billion by 2026, at a CAGR of 5.2%.
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171 – Tables
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The large patient population suffering from deep vein thrombosis, varicose veins, and lymphedema; increasing incidence of sports injuries and accidents; and the availability of clinical evidence supporting the use of compression therapy in the management of different diseases are the major factors driving the growth of the global market.
Compression garments segment is estimated to account for the largest share of the compression therapy market, by product, in 2021
Based on product, the market is segmented into compression garments, compression braces, and compression pumps. The compression garments segment is estimated to account for the largest share of this market in 2021, primarily due to the use of compression garments in a wide range of indications, such as varicose veins, edema, DVT, and lymphedema.
Dynamic compression therapy segment to witness the highest growth in the market, by technique
On the basis of technique, the compression therapy market is segmented into static and dynamic compression therapy. The dynamic compression therapy segment is estimated to grow at the highest CAGR during the forecast period, primarily due to the rising number of hip replacement surgeries globally and the favorable clinical evidence related to the use of IPC devices in various treatments.
Varicose vein treatment is the largest application segment in the compression therapy market
On the basis of application, the market is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The varicose vein treatment segment is estimated to account for the largest share of the market in 2021, primarily due to the high and growing prevalence of varicose veins and the wide use of compression therapy products in the treatment of varicose veins.
E-commerce platforms segment is estimated to grow at the highest CAGR in the market, by distribution channel
Based on the distribution channel, the compression therapy market is segmented into pharmacies & retailers, hospitals & clinics, and e-commerce platforms. The e-commerce platforms segment is estimated to grow at the highest CAGR during the forecast period. Globally, e-commerce is fast emerging as a major distribution channel for various compression therapy products owing to the cost advantages of distributing products through e-commerce platforms, strong and fast-expanding logistical networks maintained by e-commerce companies across major markets, and the increasing strategic initiatives and investments undertaken by e-commerce companies as well as market players to strengthen their presence across emerging markets.
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North America is estimated to be the largest regional market for compression therapy products in 2021
The global compression therapy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market in 2021. The market in North America is primarily driven by the rapid growth in the geriatric population, rising number of orthopedic and spinal surgeries, and the presence of various compression therapy product manufacturers in the region. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the rapid expansion of the target patient population in several Asia Pacific countries.
The major players operating 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 Company (US), ConvaTec Inc. (US), ArjoHuntleigh (Getinge Group, Sweden), and Julius Zorn GmbH (Germany).
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