Compression Therapy Market to be Worth $6.68 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Dec. 12, 2022 /PRNewswire/ -- The global compression therapy market size is projected to reach USD 6.68 billion by 2030 and is expected to expand at a CAGR of 6.2% from 2023 to 2030, according to Grand View Research, Inc. Technological innovations resulting in the increasing adoption of compression therapy garments are the major factors driving the growth of the compression therapy market. In addition, the growing prevalence of venous and lymphatic diseases is leading to higher adoption of compression therapy products which is also driving the sales of the market.

Key Industry Insights & Findings from the report:

• The static compression therapy segment accounted for a higher market share in 2022 owing to the high convenience and user-friendly attributes of this technology.
• The dynamic compression therapy segment is predicted to undergo significant growth owing to the increasing recommendations of this technology by healthcare professionals.
• Compressing bandages dominated the market in 2022 with the highest share owing to the availability of a wide range of these products.
• Compressing pumps segment is expected to experience maximum growth during the forecast period due to the constantly evolving technological advancement of this product.
• North America dominated the market due to the increasing prevalence of chronic venous disorders, especially in the U.S.
• Rising disposable income and increasing investments by key players in the Asia Pacific represent lucrative growth opportunities.

Read 120-page market research report, "Compression Therapy Market Size, Share & Trends Analysis Report By Technology (Static Compression Therapy, Dynamic Compression Therapy), By Product (Compression Pumps, Compression Stockings), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Compression Therapy Market Growth & Trends

For instance, according to the Lymphatic Education & Research Network, approximately 10 million Americans and hundreds of millions suffered from lymphedema and lymphatic diseases in 2022. The COVID-19 pandemic led to a rise in sales of compression therapy products with more people being hospitalized which led to an increase in the prevalence of venous disorders. Thus, resulting in a temporary rise in the sales of compression therapy products during the pandemic. However, a quick shift towards digital learning and an increasing inclination towards online work is resulting in lesser physical activities among individuals post the pandemic as well.

This in turn is leading to a larger section of the population being obese, creating a higher patient pool. As obese people are at a higher risk of developing chronic venous disorders. Thus, indicating a similar growth trend over the forecast period as well. Moreover, the growing government initiatives and increasing investments by key players in R&D are also expected to boost the growth of the compression therapy market over the forecast period.

Compression Therapy Market Segmentation

Grand View Research has segmented the global compression therapy market based on technology, product, and region:

Compression Therapy Market - Compression Therapy Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Static Compression Therapy
• Dynamic Compression Therapy

Compression Therapy Market - Compression Therapy Product Outlook (Revenue, USD Million, 2018 - 2030)

• Compression Pumps
• Compression Stockings
• Compression Bandages
• Compression Tape

Compression Therapy Market - Compression Therapy Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway
• Asia Pacific
• India
• China
• South Korea
• Thailand
• Australia
• Japan
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players of the Compression Therapy Market

• Cardinal Health
• Julius Zorn GmbH
• Hartmann AG
• Medi GmbH & Co.
• SIGVARIS
• BSN Medical GmbH
• ArjoHuntleigh
• 3M Health Care
• Spectrum Healthcare
• Bio Compression Systems, Inc.
• Stryker
• Gottfried Medical

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc