The global compression therapy market size is projected to reach USD 4.51 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. Rising prevalence of cancer will be a key growth driver for this market in the coming decade, finds Fortune Business Insights™ in its report, titled “Compression Therapy Market Size, Share and Industry Analysis By Product (Compression Garments {Compression Bandages, Compression Stockings, and Others}, Compression Pumps, and Others), By Application (Venous Leg Ulcer, Deep Vein Thrombosis (DVT), Lymphedema, and Others), By End User (Hospitals & Clinics, Nursing Care Centers, Home Care, and Others), and Regional Forecast, 2019-2026”. The global disease burden of cancer, according to the International Agency for Research on Cancer (IARC), rose by an estimated 18.1 million new cases in 2018.
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List of Top Players Covered in the Report:
- Tactile Systems Technology, Inc.
- Smith & Nephew
- medi GmbH & Co. KG
- Arjo
- SIGVARIS
- Bio Compression Systems, Inc.
- EssityAktiebolag (publ)
- PAUL HARTMANN Pty. Ltd
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Cancer therapy, especially for breast and prostate cancers, generally involves dissection of lymph nodes, which causes disruption in the filtering mechanism of the lymphatic system in the body. As a result, lymph fluid accumulates and causes massive swelling of limbs or tissues, a condition known as lymphedema. Worldwide prevalence of this condition, as reported by the National Institutes of Health, is around 250 million. One of the most commonly used treatment options for lymphedema is compression therapy and with increasing incidence of this condition, the demand for these therapies is set to steadily rise.
The compression therapy market report states that the value of the market was at USD 3.01 billion in 2018. Other highlights of the report include:
- Precise computation of market figures and values;
- Elaborative overview of the overall industry outlook;
- Exhaustive analysis of the key market drivers, trends, and restraints;
- Detailed segmentation of the market and comprehensive study of all segments; and
- In-depth research into the regional milieu and competitive developments in the market.
Competitive Landscape
Focused Investment in Innovate to Heat Up Competition
One of the leading compression therapy market trends is the high priority that key companies in this market are giving to R&D and innovation. This intense focus on creating novel solutions for increasingly complex health issues is enabling these players to strengthen their market presence and broaden their range of offerings.
Industry Developments:
- March 2020: SIGVARIS AG, the Swiss compression therapy specialist, launched a new line of their signature Coolflex products to accelerate the healing process of chronic vein disorders such lymphatic disorders in the arm. Made out of the company’s revolutionary compression material Spacer Fabric, the innovative family of solutions are lightweight, flexible, and cool to wear and can be used on calves, arms, and feet.
- August 2018: SIGVARIS introduced new upgrades for its COMPREFLEX® REDUCE product series. The line of offerings features individual components for thighs, boots, and knees, thereby covering the entire leg. Moreover, these products have been designed in such a way that they can be worn throughout the course of the therapy, thus reducing additional costs.
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