Global Compression Therapy Market Expands due to Rising Rate of Injuries; Market to Reach US$4.0 bn by 202314 Mar 2016
The global compression therapy market is progressing at a CAGR of 5.20% between 2015 and 2023. The market’s value in 2015 is expected to be close to US$2.6 bn, and will reach around US$4 bn by the end of 2023.
The report states that the primary growth driver for the global compression therapy market is the rising number of accidents and an overall increase in the instance of injuries. It is added that most injuries are divided fairly between sports injuries and orthopedic injuries. The report also states that the growing number of diabetics and obese people, who are more prone to injuries, is further boosting the global compression therapy market.
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The report explains compression therapy as a gold-standard treatment for multiple afflictions such as chronic venous deficiency, lymphedema, and deep vein thrombosis. The global compression therapy market benefits greatly through demand for its treatment procedures, as they are considered safe, easy to use, and display major improvements in a patient in a short span of time.
The global compression therapy market is, however, restrained by factors such as an inadequate supplementation of suitable reimbursement policies that are relevant to vascular diseases and their treatment, including compression therapy.
The report segments the global compression therapy market according to technology, product, and geography.
According to product type, the global compression therapy market was dominated by the segment of compression bandage products in 2014. This segment held the largest share in the global compression therapy market owing to ease of use, ready availability, and low cost. Compression bandages are widely used for the majority of vascular diseases. The future of the global compression therapy market is, however, expected to be led by the compression pump segment, which is growing at the highest CAGR within the given forecast period. Compression pumps are considered to be easy to use and tolerate, and safe.
Compression pumps are further dissected into sequential and intermittent compression pumps. Of these, the market was dominated by the sub-segment of intermittent compression pumps in 2014. They are considered to be the gold standard in the treatment of lymphedema.
The segmentation of the market by technology was dominated by static therapy, due to high demand, easy availability of the products, ease of use, and a large-scale preference for static products by doctors. On the other hand, dynamic compression therapy is advancing at the fastest CAGR in the given forecast period, owing to increase in innovation and comfort level of products.
The key players in the global compression therapy market are Sigvaris Management AG, Paul Hartmann AG, Medi GmbH & Co. KG, Bio Compression Systems, Inc., Medtronic plc, BSN Medical, ArjoHuntleigh, and 3M Health Care.
Key segments of the Global Compression Therapy Market
Global Compression Therapy Market, by Technology
Global Compression Therapy Market, by Product
Global Compression Therapy Market, by Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Latin America (LATAM)
Rest of LATAM
Middle East and Africa (MEA)
Rest of MEA
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