Latin America Compression Therapy Market (By Technology: Static Compression Therapy, Dynamic Compression Therapy; By Product) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The Latin America compression therapy market was surpassed at USD 206.57 million in 2021 and is expected to hit around USD 294.86 million by 2030, growing at a CAGR of 4.03% from 2022 to 2030

Increase in incidence of chronic diseases and geriatric population are key driving factors. In addition, increasing healthcare expenditure in developing economies of the region and presence of untapped opportunities are factors expected to further boost growth.

Brazil accounted for over 23.01% share in 2021, owing to high adoption of compression stockings. According to a research published in NCBI, compression stockings are extensively used in Brazil to treat venous disorders. In addition, these products are easily available and are known to provide positive results, further promoting the use of compression therapy products across the country. Moreover, improving healthcare infrastructure, economic development, and increasing patient awareness are factors supporting rapid market growth.

Some of the key players are ArjoHuntleigh, Medi GmbH & Co, and Medtronic plc. They are primarily focused on new product launches and distribution enhancement strategies to expand their customer base and increase product accessibility in developing economies.

Scope of The Report

Technology Insights

In terms of technology, the Latin America compression therapy market is bifurcated into static and dynamic compression therapies. Static therapy dominated the market in 2021 and is expected to continue leading the market over the forecast period, owing to their patient-centric and convenient aspects.

Static therapy offers various advantages to patients and physicians. It helps physicians treat several types of sports injuries through effective pressure & pain relief, speedy functional recovery, and reduction of swelling. Compression significantly reduces muscular vibration and can prevent or delay muscle soreness.

Dynamic technologies imitate the lymphatic system and promote fluid movement. Dynamic therapy is anticipated to witness exponential growth over the forecast period, supported by increasing benefits such as improved venous return, strong external control, and sustained effect. Increasing preference for pneumatic compression therapy is expected to drive this segment.

A study conducted by the American College of Physicians in 2008 exhibited positive results of dynamic compression therapy. These benefits included the treatment of peripheral arterial disease, reduced calf muscle function, and restricted ankle mobility that made patients intolerant to static compression bandaging. The aforementioned factors are positively influencing segment growth.

Product Insights

Static therapy is divided into bandages, tapes, stockings, and other garments. The benefits of static compression are expected to boost preference for them, allowing this segment to account for a dominant share in the market. By product, bandages segment dominated the static compression therapy market, owing to ease of use in comparison to other methods such as heparin treatment. Dynamic therapy is segmented into sleeves, segmented pumps with gradients & without gradients, and non-segmented pumps. The compression sleeves segment is expected to hold the majority share under the dynamic compression category.

Pumps with and without gradients are forecasted to witness strong growth over the forecast period, owing to an increasingly competitive industry and high adoption of the pumps in the treatment of venous & lymphatic disorders and sports injuries. As per the Journal of the American Medical Association (JAMA) Dermatology, the use of pumps can lead to a considerable reduction in infections, hospital stay duration, & outpatient visit rates. Besides, pumps allow controlled delivery of pressure as per disease severity, thereby being more effective in comparison to alternatives. An example of such a pump is the SportPump, a gradient pump designed to improve athletic performance and help treat injuries. Also, pumps are increasingly being incorporated into treatments as an alternative to failed conservative measures. Single compartment and multiple-chamber nonprogrammable lymphedema pumps are being used in cases where patients are unresponsive to conventional options such as compressive garments, termed as medically necessary in the treatment of lymphedema and venous ulcers.

Regional Insights

The Latin American region includes Brazil, Mexico, Argentina, and Colombia. Brazil accounted for the maximum share of the market and is expected to witness considerable growth over the forecast period, due to the high demand for stockings in the treatment of various venous disorders. The country’s prominent market share can be attributed to high healthcare spending, a growing geriatric population, and an increase in the prevalence of other chronic disorders. The easy availability of stockings is further propelling product demand and growth.

Mexico is expected to hold a larger share over the coming years. Manufacturers in the country are focused on distribution enhancement strategies to widen their customer base. An increase in cases of diabetes in the region, coupled with the increasing prevalence of other disorders & sports injuries, is affecting growth in the region. A rise in the adoption of strategies for expansion and innovations in existing product lines is also expected to boost the compression therapy market in the region over the forecast period.

Key Players

• Medi GmbH & Co.
• Julius Zorn GmbH
• SIGVARIS, ArjoHuntleigh
• BSN Medical GmbH
• Paul Hartmann AG
• Medtronic Plc

Market Segmentation

• By Technology Outlook

• Static Compression Therapy
• Dynamic Compression Therapy
• By Static Compression Therapy Product Outlook
• Compression Bandages
• Compression Tape
• Compression Stockings
• Others (Compression Garments)
• By Dynamic Compression Therapy Product Outlook
• Non-Segmented Compression Pumps
• Segmented Compression Pumps with Gradients
• Segmented Compression Pumps without Gradients
• Compression Sleeves
• By Latin America Compression Therapy Country Outlook
• Brazil
• Mexico
• Argentina
• Colombia