Global Compression Therapy Market to Reach $3.2 Billion by 2024

Compression therapy is the one of the most widely used treatment measures for people suffering from chronic vein insufficiency. The therapy involves the use of specially designed products such as stockings, socks, braces or pump for supporting veins and increasing blood circulation in the legs. Compression therapy relies on providing graduated compression to positively impact blood flow and the tissues in the body. Amid the COVID-19 crisis, the global market for Compression Therapy is projected to reach US$3.2 Billion by 2024, registering a compounded annual growth rate (CAGR) of 4.2% over the analysis period. United States represents the largest regional market for Compression Therapy, accounting for an estimated 38.9% share of the global total. The market is projected to reach US$1.3 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 7.5% over the analysis period.

Global market for compression therapy is being fueled mainly by the growing adoption of preventive care and/or rehabilitation as a long-term strategy to manage various types of venous diseases. With prevalence of target diseases such as deep vein thrombosis (DVT), varicose veins and lymphedema continuing to grow, there is growing demand for treatment methods including compression therapy to address these issues, thus driving demand for compression therapy products. With the use of compression therapy offering significant benefits in the treatment of various target diseases such as leg and foot ulcers, hypertension and venous reflux, the market is poised to grow. The market for compression products especially compression garments is witnessing high adoption in the field of sports medicine. The compression therapy is widely used for prevention of inflammation and to reduce swelling after trauma or injury. The large geriatric population, better awareness about healthcare, and availability of reimbursement coverage are factors favoring market growth in developed regions.

The market for Compression Garments is forecast to dominate market growth over the analysis period. The rising number of surgeries being performed and increase in sports-related injuries is fueling growth in the segment. Compression stockings are widely used type of compression garments, and are designed to reduce vein cavity and cut down venous pressure, thus playing a role in preventing venous stasis. The increasing commercial availability of aesthetically pleasing compression stockings and socks is also contributing to the market`s growth. Compression bandages are poised to make strong gains due to the high adoption of the products in treatment of venous and lymphatic disorders as well as edema of lower extremities. The products offer numerous advantages including high cost efficiency, high elasticity, extensibility, and high tension sustainability, all of which are fueling their use in treatment of venous ailments.