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Compression Therapy Global Market Report 2021: COVID-19 Growth And Change

Compression Therapy Global Market Report 2021: COVID-19 Growth And Change

  • September 2021
  • 175 pages
  • ID: 6144635
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the compression therapy market are 3M Health Care, ArjoHuntleigh, BSN Medical, Medi GmbH & Co KG, PAUL HARTMANN AG, SIGVARIS MANAGEMENT AG, Tactile Medical, DJO Global Inc., ConvaTec Inc., ArjoHuntleigh, Julius Zorn GmbH, Bio Compression Systems Inc, Medtronic Plc, Smith & Nephew PLC, Covidien plc, Sanyleg S.r.l., Cardinal Health Inc., and Thuasne SA.

The global compression therapy market is expected to grow from $3.23 billion in 2020 to $3.44 billion in 2021 at a compound annual growth rate (CAGR) of 6.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.28 billion in 2025 at a CAGR of 5.6%.

The compression therapy market consists of sales of compression therapy products and related services by entities (organizations, sole traders, and partnerships) that are engaged in the manufacturing of compression therapy products. Compression therapy is the application of elastic or inelastic wraps or garments that exert sustained external pressure over the lower extremities to relieve venous congestion thereby reducing edema and promoting the return of venous blood to the heart.

The main types of products in the compression therapy market are compression pumps, compression stockings, compression bandages, and compression tapes.Compression pumps are either used for acute care (in the hospital, temporary) or chronic care (long term, often at home or an extended care facility).

These pumps are designed to treat either venous insufficiency, lymphedema, or the treatment of DVTs, and differ in the cycle time of the squeeze.Major technology involved in compression therapy includes static compression therapy and dynamic compression therapy.

The compression therapy is applied in various areas including varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and others.

North America was the largest region in the compression therapy market in 2020.Europe was the second-largest market in the compression therapy market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Players in the compression therapy market are increasingly focusing on the launching of new compression therapy systems. For instance, in 2020, AIROS Medical, Inc., a US-based medical equipment player launched AIROS 6 Sequential Compression Therapy device and Arm Plus garments to treat patients with breast cancer. AIROS 6 device and Arm Plus garment will contract upper extremity post-mastectomy medication alternatives for patients with Lymphedema. The AIROS 6 utilizes pneumatic air compression to aerate accessory garments worn on the simulated area of the body. The aeration and contraction sequences, delivered at the pressure and time destined by a physician or lymphedema therapist, move the lymphatic fluid in the precise physiological direction.

In June 2019, Milliken & Company, a US-based company that designs, and manufactures specialty chemicals, floor covering, performance and protective textile materials, and healthcare for industrial manufacturers acquired Andover Healthcare for an undisclosed amount.Through this acquisition, Milliken & Company plans to expand its footprint to offer complementary products to its existing portfolio through compression systems and bandages of Andover Healthcare.

Andover Healthcare is a US-based manufacturer of cohesive bandages and compression systems spanning healthcare, animal health, and sports medicine markets.

The rise in the geriatric population is contributing to the growth of the compression therapy market.The share of aged population in many countries across the globe is rapidly growing.

The old population is vulnerable to different chronic diseases.Compression therapy is a simple and efficient way to enhance vein support and increase blood flow efficiency in the lower limbs.

Compression therapy is most commonly used in the elderly population with chronic venous illness.In the USA, 85% of adults aged 65 and over suffer from at least one chronic illness.

Also, according to a study by the United Nations, the total number of people age 80 years and above is expected to increase from 143 million in 2019 to over 426 million in 2050. Therefore, the increasing geriatric population is expected to aid the growth of the compression therapy market.

The countries covered in the compression therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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