Compression Therapy Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

According to Vision Research Reports, the global Compression Therapy Market size surpassed at US$ 3.2 bn in 2020 and is expected to grow at a CAGR of 6.3% from 2021 to 2028.

Blobal Compression Therapy Market size is projected to surpass US$ 5.3 billion by 2028, owing to rising sports injuries, increase in the number of orthopedic surgeries, and rapidly growing obese population boost demand for compression therapy products globally. However, lack of favorable reimbursement policies pertaining to vascular disease treatment with compression products would hamper market growth.

Overview

• Compression therapy is a medical procedure, wherein external pressure is applied to the skin and underlying structure (organ) to promote the normal flow of venous blood in the body. It aims to increase venous and lymphatic fluid in the limb through the utilization of external force (exerted by compression products).
• Based on technology, the compression therapy market has been segmented into static and dynamic compression technology. The static technology segment accounted for the largest share of the global compression therapy market in 2020 primarily due to the low cost, easy availability, and high demand for static compression products.
• North America dominated the global Compression Therapy market in 2020 and the trend is anticipated to continue during the forecast period. Rising prevalence of vascular diseases (venous ulcers, lymphedema, and deep vein thrombosis) and increasing demand for various advanced compression therapy products are driving the compression therapy market in the region.
• The compression therapy market in Asia Pacific is anticipated to expand at the fastest rate during the forecast period compared to that in North America and Europe. Increase in geriatric population in countries such as Japan, China, and Singapore is propelling the demand for accurate and reliable compression therapy products, thereby driving the market in the region.

Increase in the number of orthopedic surgeries to Drive Market

• The number of orthopedic surgeries performed globally has increased significantly due to various social and environmental factors (accident, bone disease). Hence, orthopedic procedures such as knee construction, partial hip replacement, and spinal fusions have witnessed considerable increase.
• Moreover, spinal surgeries are becoming increasingly popular; around 432,000 spinal fusions are performed in the U.S. every year. Compression therapy products are the primary choice for orthopedic surgery as these provide faster healing, reduce swelling and inflammation, and decrease acute or chronic pain. Therefore, increasing number of orthopedic surgeries is expected to propel demand for compression therapy during the forecast period.

 Static Technology Segment to Dominate Market

• Based on technology, the global Compression Therapy market has been divided into static and dynamic. The static segment dominated the global Compression Therapy market in 2020 and the trend is projected to continue during the forecast period. The easy availability and high demand for the products along with factors such as easy to use and high preference by doctors are attributed to the dominance of the static compression therapy segment.

North America to Dominate Global Market

• In terms of region, the global Compression Therapy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Compression Therapy market in 2020, followed by Europe.
• North America accounted for major share of the global Compression Therapy market in 2020, owing to increasing prevalence of vascular diseases (venous ulcers, lymphedema, and deep vein thrombosis) and rising demand for various advanced compression therapy products propel the growth of the market in the region. In addition, rise in lymphedema and DVT cases are poised to boost demand for compression therapy in North America. Vascular diseases present a significant challenge to acute care hospitals and clinics in the U.S due to hospital-acquired infections.
• The Compression Therapy market in Asia Pacific is anticipated to expand at a high CAGR from 2021 to 2028. Increasing geriatric population in countries such as Japan, China, and Singapore have accelerated the demand for accurate and reliable compression therapy products, thereby driving the market in the region. In addition, rising disposable income and increase in health care infrastructure in countries such as India, China, and Malaysia is expected to support market growth.

Competitive Landscape

• The global Compression Therapy market is fragmented in terms of number of players. Key players in the global market include 3M Health Care, ArjoHuntleigh, Bio Compression Systems, Inc., BSN Medical, Covidien plc, medi GmbH & Co KG, PAUL HARTMANN AG, and SIGVARIS MANAGEMENT AG, among others.

Market Segmentation

By Technology

• • Static
  • Dynamic

By Product

• • Compression Pumps
    • Intermittent
    • Sequential
  • Compression Stockings
  • Compression Bandages
  • Compression Tapes

By Region

• • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific          
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Scope

The Compression therapy market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Compression therapy market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Compression therapy market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Compression therapy market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Compression therapy market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Compression therapy capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Compression therapy by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Compression therapy market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Compression therapy market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Compression therapy market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Compression therapy industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Compression therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Compression therapy market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Compression therapy market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Compression therapy market. These factors have benefited the growth of the global market for Compression therapy. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Compression therapy. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Compression therapy are as follows:

• History Year: 2017-2020
• Base Year: 2020
• Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.