“Compression therapy market is projected to grow at a CAGR of 4.8%”
The global compression therapy market is projected to reach USD 4.2 billion by 2025 from USD 3.1 billion in 2019, at a CAGR of 4.8%. Factors such as the increasing incidence of sports injuries and accidents, significant increase in the burden of target diseases (such as lymphedema, DVT, and varicose veins), and the favorable clinical evidence for the use of compression therapy products in the management of several diseases are driving the growth of the compression therapy market across the globe.
“Compression pumps segment is expected to witness the highest growth rate during the forecast period”
On the basis of product, the compression therapy market is segmented into compression garments, compression braces, and compression pumps. Compression pumps form the fastest-growing product segment in the compression therapy market. The high growth in this segment is attributed to the rising incidence of cancer, increasing prevalence of chronic venous diseases such as lymphedema and DVT, and the growing number of hip and knee surgeries across the globe.
“Lymphedema treatment is the fastest-growing application segment in the compression therapy market”
On the basis of application, the compression therapy market is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The lymphedema treatment segment is estimated to grow at the highest CAGR during the forecast period, primarily due to the rising incidence of lymphedema, coupled with the increasing patient preference for compression therapy in lymphedema treatment.
“Asia Pacific is estimated to be the fastest-growing regional market for compression therapy products”
The global compression therapy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa). During the forecast period of 2019 to 2025, the Asia Pacific market is estimated to grow at the highest CAGR, primarily due to the high growth in the target patient population in several Asia Pacific countries.
Breakdown of Supply-side Primary Interviews: By Company Type, Designation, and Region
- By Company Type: Tier 1 – 25%, Tier 2 – 30%, and Tier 3 – 45%
- By Designation: C-level – 26%, Director Level – 30%, and Others (managers, executives, and demand-side professionals) – 44%
- By Region: North America – 34%, Europe – 26%, APAC – 23%, LATAM – 10%, Middle East – 4%, and Africa – 3%
In 2019, the global compression therapy market was dominated by BSN medical (Germany), DJO Global, Inc. (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), and SIGVARIS (Switzerland). Product launches, agreements, and collaborations were the major strategies adopted by market players to achieve growth in the market.
This report studies the compression therapy market based on product, technique, application, and distribution channel. The major market drivers and restraints are also covered in this report. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market, and forecasts the revenue of the market segments with respect to four main regions.
Reasons To Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis?industry trends, market ranking analysis of top players, and company profiles?which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the compression therapy market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the major players in the compression therapy market. The report analyzes the compression therapy market based on product, technique, application, distribution channel, and region
- Product Development: Detailed insights on the research and development activities and product launches in the compression therapy market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various compression therapy products across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the compression therapy market
- Competitive Assessment: In-depth assessment of strategies, products, distribution networks, and manufacturing capabilities of leading players in the compression therapy market