Compression Therapy Market is predicted to reach US$ 4.59 Billion by 2030

The global Compression Therapy Market is expected to reach US$ 3.01 billion in 2022 and US$ 4.59 billion by 2030, expanding at a CAGR of 5.4%, indicating consistent positive market growth over the forecast period (2022-2030).

Highlighting the key influencing factors, the study opines that the growing diabetic population across the globe has increased the demand for compression stockings and diabetic socks. Moreover, innovations like NPWT (Negative Pressure Wound Therapy) have turned out to be the modus operandi for managing acute and chronic wounds. Also, advancements in pneumatic compression therapy have proven to be effective and safe in treating lymphedema (caused by HNC – head and neck cancer) as stated by “Supportive Care in Cancer”.

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Key Takeaways from Compression Therapy Market Study

The static compression therapy held the largest market share in 2019 and the trend is expected to continue in the forecast period (2020-2030)
Chronic ulcers are expected to hold more than 69% of market share in terms of revenue in 2020
Among all distribution channel, institutional sales is the leading segment followed by retail sales. Retail sales segment is anticipated to grow at CAGR of 6% over the forecast period
North America and Europe are collectively expected to hold more than 67% of revenue share in 2020 while East Asia is expected to show greater growth potential in the forecast period.

"Acquisitions and launch of compression products along with increasing demand for compression therapy offering increased mobility, enhance athletic performance and safety profiles are driving the growth of global compression therapy market” says the FMI Analyst

Expansion with Research: The Latest Trend

The compression therapy market players are onto the expansion spree to stand out.

For instance –

In May 2020, British Medical Journal published a study that stated that anti-embolism stockings are all the more effective with respect to DVT (deep vein thrombosis). This finding is bound to influence players to go for production of anti-embolism stockings in the forecast period

Avanos Medical Inc., in the year 2018, announced acquiring CoolSystems, Inc. The products post acquisition were marketed as “Game Ready”

Huntleigh Healthcare Ltd.’s IPC (Intermittent Pneumatic Compression) products under the “Hydroven” brand are a noteworthy addition to vascular assessment systems

Key Companies Profiled: