Compression Therapy Market Expected to Reach $5.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Compression Therapy Market," The compression therapy market was valued at $3.2 billion in 2021, and is estimated to reach $5.4 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

The growth of the global compression therapy market is expected to be driven primarily by Compression Therapy Market Trends such as a rise in prevalence of target diseases like deep vein thrombosis, varicose veins and lymphedema, increase in number of populations approaching advanced age, rise in obesity incidences among adults and increase in the geriatric population.

Moreover, increasing awareness of compression therapy among the population, increase in the adoption of advanced throughput technologies and growth in the expenditure from these authorities gives a boost to the research activities which can help in the increased use of compression therapy, thereby driving the Compression Therapy Market Growth. For instance, in May 2020, AIROS Medical, Inc., announced the launch of its updated AIROS 6 Sequential compression therapy device and Arm Plus garments following multiple regulatory approval. AIROS received the U.S. Food and Drug Administration (FDA) 510(k) clearance to market its updated AIROS 6 sequential compression device and related accessory garments, including the arm plus garment that can be prescribed by a physician to treat lymphedema in the arm, shoulder, chest, and back.  

However, the availability of alternative treatments for compression therapy and lack of awareness regarding compression therapies in population hamper restricts the Compression Therapy Market Share. Conversely, increased application of compression therapy among the geriatric population is expected to provide lucrative opportunities for the growth of the market. 

The global compression therapy market is segmented into technique, application, distribution channel and region. On the basis of technique, the market is classified into static compression therapy and dynamic compression therapy. Static compression therapy is further classified as static garments and compression braces. Dynamic compression therapy is classified as dynamic garments and compression pumps. On the basis of application, the market is classified into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. On the basis of distribution channel, the market is classified as hospital pharmacies, retail pharmacies, E-Commerce and others. Region wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA. 

On the basis of technique, the market is classified into static compression therapy and dynamic compression therapy. The dynamic compression therapy segment is projected to exhibit the fastest market growth of Compression Therapy Market Size during the forecast period, owing to an increase in the adoption of static compression therapy and a rise in the number of patients of target diseases like deep vein thrombosis and lymphedema. For instance, according to the data by Centers for Disease Prevention and Control, in February 2023, the precise number of people affected by deep vein thrombosis (DVT) or pulmonary embolism (PE) is unknown, although as many as 900,000 people could be affected each year in the U.S. Hence, this increases in the number of target population can help in the adoption of the compression thereby increasing the growth of the market. 

On the basis of application, the market is classified into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The lymphedema treatment segment is anticipated to grow at the highest rate, owing to an upsurge in demand of compression therapy among patients of varicose veins. Moreover, the increase in the prevalence of varicose vein, and advancements in compression therapy also contribute to the growth of the market.   

On the basis of distribution channel, the market is classified into hospital pharmacies, retail pharmacies, E-commerce and others. The E-commerce segment is anticipated to grow at the highest rate, owing to an upsurge in demand for compression therapy products among E-Commerce platforms. Moreover, the increase in the prevalence of target diseases, and rise in the number of E-Commerce platforms also contribute to the growth of the market. 

On the basis of region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). In 2021, North America was the dominant region and is expected to remain dominant throughout the forecast period, owing to high expenditure in the research and development activities by the market players, increase in the number market players present in the region and surge in the product launches in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to increase in the number of patients of deep vein thrombosis which helps to accelerate the demand for compression therapy and the increasing number of strategies and trends adopted by the Compression Therapy Industry such as product launch and product approval. 

Key findings of the study 

• By technique, the static compression therapy segment accounted for major share of the compression therapy market in 2021.  

• By application, the lymphedema treatment segment is anticipated to grow with the highest CAGR throughout the forecast period. 

• By distribution channel, the E-commerce segment is anticipated to grow with the highest CAGR throughout the forecast period. 

• By region, North America occupied major share of the compression therapy market in 2021.