The Global Compression Therapy Market is Forecast to Exceed $2.5 Billion in 2018

Tuesday 13 March 2012, Amsterdam

The global market for compression therapy was valued at $2 billion in 2011 and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 5% to $2.7 billion in 2018, driven by the growing incidence of venous disease due to chronic wounds, a growing elderly population, diabetes and repeated wound trauma. The increase in awareness of venous diseases, aided by campaigns from various venous disease forums, societies and educational materials, and the use of compression therapy products as a preventive measure is also expected to encourage market growth. Intermittent Pneumatic Compression (IPC) pumps have also proved beneficial for preventing Deep Venous Thrombosis (DVT) and complications of venous stasis in patients after trauma, orthopedic surgery, neurosurgery, or who for other reasons are unable to walk. IPC use has expanded to ambulatory patients who suffer from Chronic Venous Insufficiency (CVI) of the legs and subsequent edema, stasis dermatitis, ulcerations, and cellulitis.

Sigvaris is the Leading Player in the Global Compression Therapy Market

Sigvaris leads the global compression therapy market with a share of 11% in 2011 and revenue of $206.5m. Its product portfolio comprises medical compression garments, such as hosiery and socks used to treat people suffering from various forms of venous disease and lymphatic disorders. Sigvaris’ dominance is likely to be due to its presence in a number of geographic locations and its wide distribution network, as well as its therapeutically beneficial, easy-to-apply and aesthetically pleasing compression hosiery products.

Static Compression Therapy Market to be the Fastest Growing Segment of the Overall Compression Therapy Market

Static compression therapy was valued at $1.7 billion in 2011, indicating a CAGR of 4% from 2004 and an 89% share of the market. It is forecast to reach $2.4 billion by 2018 at a CAGR of 4%. Ready-to-wear legwear, compression bandages, diabetic shoes and anti-embolism stockings are all included under static compression therapy.

Rise in Venous Disease to Increase the Incidence of Chronic Wounds in the Diabetic, Obese, and the Elderly Populations and Increase the Use of Compression Therapy Products

Chronic wounds are wounds that remain in the inflammatory stage for a significant period of time due to a breakdown in the production of collagen. They can cause severe emotional and physical distress and place a significant financial burden on patients and the healthcare system. They are caused by diabetes, vascular diseases, infection, immobility, trauma, surgery, burns and radiation injury.

There are three main types of chronic wounds: diabetic ulcers, venous ulcers and pressure ulcers.

Diabetes is a leading cause of chronic, non-healing wounds, causing conditions such as foot ulcers, which can further lead to wound infections and progressive tissue loss, resulting in amputation, morbidity, and/or death. A preventive measure that can be taken against diabetic ulcers of the foot is the use of diabetic shoes.

Obesity affects millions of adults and is directly linked to a number of life-threatening diseases. Recent results of the National Health and Nutrition Examination Survey (NHANES) indicate that an estimated 65% of US adults are either overweight or obese, defined as having a Body Mass Index (BMI) of 25 or more. Obese patients have a significantly higher frequency of Pulmonary Embolism (PE) as an immediate cause of death compared to non-obese patients. Studies have also shown that PE is the leading cause of death following gastric bypass surgical procedures.

DVT and venous ulcers are most commonly associated with aging, which is a key factor responsible for the growing number of patients at risk of blood clotting, ulcers and swelling. According to a study published by the American Heart Association (AHA) in October 2010, aging results in an increase in venous valve thickness and thus contributes to a decline in valve function, causing DVT. With aging, individuals also become less active and their cardiopulmonary system slows down.