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Compression Therapy Market Is Booming Worldwide 2021-2028 | Getinge AB, 3M, BSN Medical, Medtronic

November 30th, 2021 Coherent Market Insights Releases

Compression Therapy Market

Overview

Compression therapy refers to the use of critically designed stockings that are used to increase the blood activity in the limbs and other parts of the body by improving the vein support. Compression garments provide a specific amount of advanced pressure that aid in controlling the leg swelling as well as discomfort caused due to venous diseases. For pneumatic compression therapy, compression pumps are used to treat leg ulcers, whereas the static compression therapy uses stockings, bandages, diabetic shoes, and socks as per patient requirement. Generally, compression therapy is typically used in the treatment of lymphedema, varicose veins, venous leg ulcers, deep vein thrombosis (DVT), venous thromboembolism (VTE), and gravitational eczema. According to Vascular Disease Foundation, chronic venous insufficiency majorly affects 50% of the adult population worldwide. This therapy is also preferred by sportspersons and athletes for treating musculoskeletal and spinal injuries.

Technological advancements in compression therapy include various product launches and innovations that user-friendly and easy to adopt. For instance, in 2016, COOLSYSTEMS, INC. developed ACCEL technology helping in integrated pneumatic compression and cold therapy. Also the NormaTec recovery system developed by Normatec in 2016 uses the latest pulse technology for dynamic compression therapy. Profore, a compression system developed by Smith & Nephew in 2015, comprises extra padding layer to provide protection to vulnerable areas such as the Achilles tendon and pretibial crest. Moreover, multiple sustained high-compression elastic bandages are used for compression therapy instead of conventional inelastic compression or single component compression systems. This is due to the fact that elastic bandages are convenient for patients in terms of limb movements as compared to inelastic bandages.

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Market Drivers

Growing awareness regarding venous diseases combined with injuries caused due to adventure sports and activities is expected to drive growth of the global compression therapy market during the forecast period.  According to Safe Kids Worldwide, a global organization which is committed to prevent injuries in children, around 1.3 million cases of sports injuries in youngsters are registered in the U.S every year. Moreover, growing aging population and increasing prevalence of diabetes are also supporting the growth of the compression therapy market in the region. According to the International Diabetes Federation, the prevalence of diabetes is expected to grow from 366 million in 2011 to 552 million by 2030 worldwide that is expected to augment the market growth in the future. Also the rise in DVT cases add to the growth of the market. As per the Centers for Disease Control and Prevention (CDC), the annual incidence of DVT in the U.S. is 1 per 1000 people. The CDC also states that 60,000-100,000 patients suffered from DVT in 2016 in the U.S.

Moreover, rising research and development activities by key companies are expected to boost the market growth in the near future.  For instance, clinic trials are going on for the use of compression therapy in breast cancer-related lymphedema in the Medical University of Vienna. Furthermore, there are ongoing research studies to study the effect of pneumatic compression therapy on lymph movement in lymphedema-affected extremities at The Brown Institute for Molecular Medicine.

Regional Insights

Among regions, North America accounts for the largest share in the global compression therapy market. This is due to growing acceptance of new technologies and rising prevalence of obesity leading to vascular diseases. According to the American Academy of Orthopedic Surgeons (AAOS), around 600,000 knee arthroplasty surgeries were performed in 2010 in the U.S. Moreover, Asia Pacific is expected to witness significant growth, owing to increasing number of sports injuries in the region. According to the Asian Federation of Sports Medicine (AFSM), about 21,334 incidence of sports injuries occur annually in Asia. Such incidences coupled with patient awareness, affordability and accessibility would fuel the growth in Asia Pacific compression therapy market.

Competitive Section

Major players operating in the global compression therapy market are Getinge AB, 3M, BSN Medical, Medtronic, SIGVARIS, FlowAid Medical Technologies, Bio Compression Systems, IntelliSkin, ConvaTec, Devon Medical Products, ElastiMed, Kinesio, KT Health and Laboratories Innothera S.A.S. Companies are striving to increase their market share through inorganic and collaborative growth strategy.

Key companies in the market are focused on inorganic strategies, in order to enhance the market presence. For instance, in 2015, BSN Medicals acquired FarrowMed Medical Solutions. This helped BSN medical to expand its lymphedema treatment solutions portfolio in different regions. In May 2017, Footfalls & Heartbeats, a U.K. based smart fabrics manufacturing company partnered with Karl Otto Braun GmbH & Co. KG (KOB), to develop a smart bandage that can measure the pressure applied by compression bandage and enable live monitoring of compression therapy. KOB is a bandage and fabrics manufacturer based in Germany.

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Key Developments

  • In June 2018, Tactile Systems Technology, Inc. had entered into a purchase agreement with Wright Therapy Products to acquire patents for the pneumatic compression device technology.
  • In March 2016, BiaCare (US) had been acquired by SIGVARIS group to strengthen its position in a rapidly growing medically complex and compression applications market.
  • In May 2017, Footfalls & Heartbeats, a UK based smart fabrics manufacturing company partnered with Karl Otto Braun GmbH & Co. KG (KOB), to develop a smart bandage that can measure the pressure applied by compression bandage and enable live monitoring of compression therapy.
  • In 2016, COOLSYSTEMS, INC. developed ACCEL technology helping in integrated pneumatic compression and cold therapy
  • In October 2016, JOBST Relax was launched by BSN medical GmbH. This is a custom-knit compression garment used for the treatment of mild to moderate lymphedema.

Compression Therapy Market – taxonomy

The global compression therapy market is segmented on the basis of technology, product type, end user and region.

By Technology

  • Static Compression therapy
  • Dynamic Compression therapy

By Product Type

  • Compression pumps
  • Compression bandages
  • Compression stockings
  • Compression tapes

 By End User

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Home Care Settings

 By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

To Direct Purchase of this Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/544

Table of Contents:

  1. Research Objective and assumption
    o Research Objectives
    o Assumptions
    o Abbreviations
  2. Market Overview
    o Report Description
    • Market Definition and Scope
    o Executive Summary
    • Market Snippet By Product Type
    • Market Snippet By Application
    • Market Snippet By Technology
    • Market Snippet By End User
    • Market Snippet By Region
    o Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    o Market Dynamics
    • Drivers
    • Restraints
    • Market Opportunities
    o Technological Trends
    o PEST Analysis
    o Impact Analysis
  4. Global Compression Therapy Market, By Product Type, 2021 – 2028 (US$ Million)
    o Introduction
    • Market Share Analysis, 2016 and 2028 (%)
    • Y-o-Y Growth Analysis, 2021 – 2028
    • Segment Trends
    o Reagents & Consumables
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Software’s
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Instruments
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
  5. Global Compression Therapy Market, By Application, 2021 – 2028 (US$ Million)
    o Introduction
    • Market Share Analysis, 2016 and 2028 (%)
    • Y-o-Y Growth Analysis, 2021 – 2028
    • Segment Trends
    o Genomics
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Proteomics
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Diagnostics
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Drug Discovery
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
  6. Global Compression Therapy Market, By Technology, 2021 – 2028 (US$ Million)
    o Introduction
    • Market Share Analysis, 2016 and 2028 (%)
    • Y-o-Y Growth Analysis, 2021 – 2028
    • Segment Trends
    o Microarrays
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Microfluidics
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
  7. Global Compression Therapy Market, By End User, 2021 – 2028 (US$ Million)
    o Introduction
    • Market Share Analysis, 2016 and 2028 (%)
    • Y-o-Y Growth Analysis, 2021 – 2028
    • Segment Trends
    o Hospitals
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Diagnostic Labs
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Academic & Research Institutes
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
    o Biotechnology & Pharmaceutical Companies
    • Introduction
    • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact Us:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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