Compression Therapy Market To Generate $6,154 Million Revenue by 2030
- Published: March 2023
The compression therapy market size is expected to advance at a CAGR of 5.80% during 2022–2030, to reach USD 6,154 million by 2030. This is attributed to the increase in the number of people with vascular diseases, such as varicose veins, DVTs, and lymphedema, and the rise in the geriatric population. For instance, between 10 and 30% of the global population suffers from varicose veins.
Moreover, the rise in sports activities is driving the market growth because compression therapy is used by athletes to prevent the dislocation of the bones, while enabling proper moment of the body. Thus, some companies offer specially designed compression therapies for sportspersons. For instance, in June 2022, Mueller Sports Medicine launched the next generation of its high-performance compression therapy for both regular consumers and athletes.
Compression Garments Account for Highest Global Sales
Compression garments dominated the market in 2022. This is because of the wide variety of garments available for compression therapy, such as stockings, bandages, wraps, and braces, and their application for people with various diseases, such as DVTs, lymphedema, and varicose veins, and for people engaged in sports, such as football, cricket, hockey, and athletics. Moreover, compression stockings are used in the treatment of postural orthostatic tachycardia syndrome (POTS).
Moreover, product launches are expected to encourage the adoption of compression garments. For instance, in February 2022, Therabody launched a new generation of recoveryAir pneumatic compression boots with advanced technology, which helps people recover effectively.
Rise in Sports Activities Is Major Driving Force
The rise in the number of people engaged in sports activities is the other driver for the demand for compression therapy. Some sportspersons use compression garments to prevent strain on and the dislocation of the bones. Moreover, people use this therapy to massage their muscles, such as when on vacation. It is beneficial for the prevention of leg swelling in people who stand or sit for long times, management of varicose veins during pregnancy, and prevention of ulcers in the legs.
Compression Therapy Mainly Used in Lymphedema Treatment
Lymphedema, wherein body parts, most commonly the arms and legs, swell due to a buildup of lymphatic fluid, accounted for the largest share in the application segment. Lymphedema can occur due to parasites, radiation treatment for cancer, and the blockage of the lymph nodes by cancer cells. Compression therapy helps stop the worsening of lymphedema. Moreover, it helps people with varicose veins, an issue characterized by swelling and poor blood circulation in the lower extremities.
Asia-Pacific Is Expected To Witness Fastest Growth
Asia-Pacific is set to register the highest CAGR, of 6.9%, during the forecast period, attributed to the rise in the investments in the sports sector in this region. For instance, Odisha hiked its sports budget by INR 506 crore in FY 2022–2023.
Moreover, universities are showing interest in sports activities. For instance, in August 2022, the University of Canberra committed AUD 1 million as the next step in implementing its sports strategy. The strategy, which was launched in 2021, outlines the university’s vision for the participation of women in sports.
China is also investing heavily in sports venues for public use. In February 2022, China's National Development and Reform Commission (NDRC) announced plans to invest USD 331 million (CNY 2.1 billion) to build 185 sports parks, fitness centers, and public facilities for outdoor sports.
The major players in the market are DJO Global Inc., BSN medical GmbH, Medi GmbH & Co. KG, Tactile Medical, SIGVARIS GROUP, Paul Hartmann AG, Sanyleg Srl, 3M, ConvaTec Inc., Arjo, Julius Zorn GmbH, Bio Compression Systems Inc., Cardinal Health Inc., and Smith & Nephew plc.