As per our research report, the global compression therapy market size is estimated to be growing at a CAGR of 5.46% from 2022 to 2027.
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Wearing compression stockings, socks, or elastic clothing to contain and support veins to improve blood circulation in the legs is known as compression therapy. It helps relieve leg edema and soreness while improving circulation and restoring normal leg function. In addition, the compression stockings reduce vein cavity size and lower venous pressure, reducing venous stasis and venous walk impairment. It is the most well-known and essential therapy approach for venous and lymphatic disorders.
The present global COVID-19 pandemic has had a substantial influence on markets in various businesses and sectors. The increase in venous disorders in hospitalized patients because of remaining in one position for lengthy periods during their hospital stay has substantially impacted the compression therapy market expansion. The pandemic has affected the orthopedics industry, as doctors are being reassigned to treat COVID-19 patients, limiting their ability to focus on ordinary patients. As a result of the lack of hospital staff and operating rooms, performing orthopedic and trauma surgery has become a significant difficulty. Several national and international sports have been postponed or canceled as a result. Demand for compression garments and products, which athletes prefer to use during sports to reduce swelling and pain, declined due to the cancellation of many competitions.
The rising prevalence of vein disorders such as venous leg ulcers, lymphedema, deep vein thrombosis, and others and the growing geriatric population and increased adoption of pressure therapies to treat these vein disorders are expected to fuel compression therapy market growth over the forecast period. In addition, increased incidence of sports injuries and accidents are propelling this market forward. In addition, compression therapy is becoming more popular as the number of orthopedic surgeries increases. In addition, patients with lifestyle-related disorders and vascular diseases, such as obesity, and diabetes, typically use compression therapy products. These factors influence patient demand for and adoption of various treatment modalities, including compression therapy. Furthermore, advances such as mobile intermittent pumps and inelastic boots are projected to improve patient compliance and efficacy, resulting in increased use of this therapy. In addition, major market players’ rigorous product development research results in unique product debuts. As a result, the market expansion will likely be fuelled by the rising frequency of chronic disorders and increased awareness of modern therapies such as compression garments and other devices.
The market is growing due to an increase in R&D activities by manufacturers of these garments to make their products available in various patterns and user-friendly for treating trauma or pain management. In addition, Healthcare groups are launching campaigns about compression therapy and encouraging people to use compression therapy devices. As a result, market opportunities are expected to emerge. In addition, alternative medicines have risen in popularity among consumers and healthcare providers due to their potential benefits.
Poor patient compliance with compression garments and the lack of widely approved standards for compression products are projected to limit the market’s growth throughout the forecast period. In addition, compression therapy products, such as compression stockings, are challenging to use for senior patients with comorbidities, which is projected to hinder the market growth. Furthermore, due to a lack of awareness of compression therapy as a potential therapeutic option for managing lymphatic and venous disorders, market growth in many developing countries is expected to be constrained. The high cost of compression pumps is also a significant impediment to the market’s progress.
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SEGMENTS COVERED UNDER THIS REPORT:
- Bandages & Wraps
- Other Garments
- Varicose Vein Treatments
- Deep Vein Thrombosis Treatments
- Lymphedema Treatments
- Leg Ulcer Treatments
By Distribution Channel:
- Pharmacies & Retailers
- Hospitals & Clinics
- E-Commerce Platforms
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
KEY MARKET INSIGHTS:
The compression garments segment is expected to hold because physicians increasingly use compression garments to treat lymphedema, venous leg ulcers, gravity eczema, varicose veins, venous thromboembolism, and deep vein thrombosis significant share of this market. In addition, the growing use of compression garments in sports medicine is boosting the segment’s growth.
The lymphedema treatment segment is predicted to grow at the quickest CAGR during the forecast period, owing to the rising incidence of lymphedema and end users’ high demand for compression therapy devices lymphedema treatment and management.
North America accounted for the most significant compression therapy market. This is attributed to an increase in the number of orthopedic and spinal surgeries performed, as well as an increase in the number of patients with DVT, varicose veins, and lymphedema, as well as the presence of several compression therapy product manufacturers in the area. Good government reimbursement plans and rising levels of healthcare awareness are also significant growth drivers in this region. In North America, the United States dominates the compression therapy goods market. In addition, the increased prevalence of obesity in the region’s population is credited with a considerable market share.
Europe is predicted to rank second in the compression therapy market throughout the forecast period. An increase in the number of new product releases by significant companies is expected to fuel market expansion in this region. Germany is a very active nation. There are a variety of international sports played there, increasing the number of people wounded due to sports.
Throughout the projection period, the Asia Pacific is expected to grow rapidly. Key companies’ substantial R&D spending and ongoing efforts to commercialize products at a cheaper cost drive the market. For target diseases like diabetes and cancer, Asia has a significant and quickly rising patient population. In addition, Asia’s senior population is predicted to grow dramatically in the coming years, increasing the prevalence of target diseases in the region.
Medi GmbH & Co., Medtronic Plc, Julius Zorn GmbH, SIGVARIS, Hartmann AG, BSN Medical GmbH, ArjoHuntleigh, 3M Health Care, Spectrum Healthcare, Bio Compression Systems, Inc., and Gottfried Medical are a few of the prominent companies operating in the global compression therapy market profiled in this report.
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Browse Regional Reports:
- North America Compression Therapy Market
- Europe Compression Therapy Market
- APAC Compression Therapy Market
- Latin America Compression Therapy Market
- MEA Compression Therapy Market
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