The Global Compression Therapy Market is valued to reach USD 4.5 Billion by 2025, growing at CAGR of 5.01% over the forecast period 2020–2026. Key factors driving the market are increasing geriatric population, rise in orthopedic procedures due to increase in the number of accidents and obese population coupled with rising incidence of sports injuries and accidents.
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Compression therapy a simple and effective principle that increases blood flow activity in the lower limbs. It reduces reflux in the diseased superficially and also reduces pathologically elevated venous pressure. In addition, it reduces inflammation and improves moment of joints and tendons. Treatment is prescribed to treat thrombosis, phlebitis, post vein surgery and indicated for the treatment of varicose veins, prevention of deep vein thrombosis and to heal venous leg ulcers. Compression therapy is prescribed to prevent venous trouble during pregnancy and long distance travel.
Increasing number of cases of varicose veins, leg ulcers, deep vein thrombosis is expected to drive the market for global compression therapy market over the forecast period. Moreover, increasing number of collaborations, strategic acquisition by leading companies with manufacturers to expand the territories is anticipated to further drive the growth of the global compression therapy market over the forecast period. Furthermore, increasing number of sports injuries and growing ageing population is further expected to propel the market growth over the forecast period.
Technological advancements by manufacturers focusing on providing patient comfort is expected to create new opportunities for major players operating in the global compression therapy market over the forecast period.
- The increasing cases of chronic venous insufficiency, lymphedema, and deep vein thrombosis, among others due to the growing geriatric and diabetic population is expected to be one of the prime factors accelerating the market growth.
- The application of compression therapy devices for the treatment of various ailments such as varicose vein, lymphedema, leg ulcer, and deep vein thrombosis is creating an irreplaceable position for these products in the areas of medical treatments. The ease of use and high efficiency offered in the treatment are increasing the popularity of these products in the medical field. These factors are boosting the growth of the market.
- Limitations of compression therapy include side effects caused by the usage of these products such as skin dryness, itching, and slipping is likely to hamper market growth.
- Moreover, elderly patients with comorbidities face difficulties in the usage of compression therapy products such as compression stockings, which in turn, is expected to limit the growth of the market.
- Availability of patient-friendly compression therapy garments, such as compression wraps & bandages, and compression stockings is boosting the growth of the market.
- Rise in R&D activities by the manufacturers of these garments to make their products available in an array of designs and user-friendly to treat trauma or pain management is driving market growth.
- Healthcare organizations are taking initiatives to promote awareness about the usage of compression therapy and promote the usage of compression therapy products. This, in turn, is likely to create opportunities in the market. For example, the compression stockings are classified as general medical purposes as a class I device by FDA. This classification is performed by FDA to exempt the products from FDA 510k pre-market notification requirements.