The Latest Compression Therapy Industry Statistics Explained
The global compression therapy market size was valued at USD 3.10 billion in 2021.
The statistic indicates that the global compression therapy market size in 2021 was valued at USD 3.10 billion, reflecting the total revenue generated by the sales of compression therapy products and services worldwide during that year. Compression therapy involves utilizing devices such as compression stockings, sleeves, and wraps to improve circulation, reduce swelling, and manage various medical conditions like deep vein thrombosis and edema. The market size figure underscores the significant demand for compression therapy solutions globally, driven by factors such as increasing prevalence of chronic diseases, rising awareness about venous disorders, and advancements in healthcare technology. This statistic provides valuable insights into the scale and scope of the compression therapy market, highlighting its substantial economic impact and growth potential for businesses operating within this industry.
The Compression Therapy market in the U.S. is estimated at US$1.1 Billion in 2021.
The statistic “The Compression Therapy market in the U.S. is estimated at US$1.1 Billion in 2021” indicates the total value of sales for compression therapy products and services in the United States for the year 2021. This figure represents the estimated revenue generated by various compression therapy products such as compression stockings, bandages, sleeves, and other related items used for managing conditions like edema, venous insufficiency, and lymphedema. The size of the compression therapy market suggests a significant demand for these products among consumers and healthcare providers in the U.S., reflecting the importance and popularity of compression therapy as a treatment option for various medical conditions.
The market is expected to grow at a CAGR of 4.8% from 2020 to 2027.
This statistic indicates that the market is projected to experience a Compound Annual Growth Rate (CAGR) of 4.8% between the years 2020 and 2027. The CAGR represents the year-over-year growth rate of the market when compounded annually. In this case, the 4.8% CAGR suggests that, on average, the market is expected to increase by 4.8% each year over the specified period. This growth rate allows for a more accurate assessment of the market’s potential expansion, as it considers the compounding effect of annual growth over multiple years. As such, this statistic provides valuable insight into the anticipated growth trajectory of the market and can be used by businesses, investors, and analysts to make informed decisions regarding future strategies and investments.
Europe stands as the second-largest market for compression therapy, valued at US$889.1 million in 2021.
The statistic indicates that Europe is the second-largest market for compression therapy in terms of market value, with sales worth US$889.1 million in 2021. This suggests that there is a significant demand for compression therapy products in Europe, reflecting a growing awareness and adoption of these products for various medical conditions such as chronic venous insufficiency, lymphedema, and deep vein thrombosis. The size of the market value also implies a competitive landscape with multiple companies vying for market share and offering a variety of compression therapy products to cater to the needs of consumers in Europe. Overall, the statistic highlights the prominence and importance of the European market in the compression therapy industry.
The static compression therapy segment accounted for the largest revenue share in 2020.
The statistic ‘The static compression therapy segment accounted for the largest revenue share in 2020’ indicates that among all the categories or segments within the therapy industry in 2020, static compression therapy generated the highest amount of revenue. This can imply that static compression therapy products or services were in high demand or were priced at a premium relative to other therapy alternatives, leading to a higher revenue share. The prominence of static compression therapy in terms of revenue share suggests that it was a significant player in the therapy market in 2020 and likely played a key role in driving overall industry growth and profitability during that period.
Gradient compression stockings are anticipated to show substantial growth from 2021 to 2027 with a CAGR of 5%.
The statistic indicates that there is an expected significant increase in the market for gradient compression stockings between 2021 and 2027, with a Compound Annual Growth Rate (CAGR) of 5%. This growth rate suggests a steady rise in demand for these specialized stockings over the specified period. Gradient compression stockings are designed to improve blood circulation and reduce swelling in the legs, making them popular among individuals with conditions such as varicose veins or deep vein thrombosis. The projected growth reflects an increasing awareness and utilization of these stockings for both therapeutic and preventive purposes, likely driven by aging populations, rising prevalence of chronic diseases, and a growing understanding of the benefits of compression therapy.
The use of compression therapy is highest among people aged 60 and above.
The statistic indicates that individuals aged 60 and above have the highest utilization rate of compression therapy compared to other age groups. Compression therapy is commonly used to improve circulation and manage various medical conditions such as venous insufficiency, lymphedema, and deep vein thrombosis. The higher prevalence of use among older adults could be attributed to age-related health challenges that may require the therapeutic benefits of compression garments. Additionally, older individuals may also be more proactive in managing their health conditions and seeking out treatments that can improve their quality of life. The statistic underscores the importance of considering age demographics when evaluating the adoption and effectiveness of compression therapy interventions.
The Asia Pacific market is expected to show the fastest growth in the compression therapy sector due to an increasing elderly population.
The statistic suggests that the compression therapy sector in the Asia Pacific market is anticipated to experience rapid growth primarily because of a rising elderly population in the region. As individuals age, they are more prone to various circulatory and vascular conditions that can benefit from compression therapy, such as venous ulcers or deep vein thrombosis. With a growing number of elderly individuals in the Asia Pacific region, there is an increasing demand for compression therapy products and services to manage these health issues effectively. This trend highlights the potential for significant market expansion in the compression therapy sector in the Asia Pacific region in the coming years.
The dynamic compression therapy segment is forecast to grow at a CAGR of 5.1% from 2021 to 2027.
This statistic indicates that the dynamic compression therapy segment, a medical treatment method that uses external pressure to enhance blood flow and reduce swelling in patients, is expected to experience a Compound Annual Growth Rate (CAGR) of 5.1% from the year 2021 to 2027. This suggests that the demand for dynamic compression therapy is projected to steadily increase over the specified timeframe, indicating potential growth opportunities within the market. Factors such as technological advancements, increasing awareness about the benefits of this therapy, and a growing aging population that may require such treatments could contribute to the projected growth rate. This forecast provides valuable insight for stakeholders in the healthcare industry, enabling them to make informed decisions regarding investments, product development, and market strategies within the dynamic compression therapy segment.
The bandages & wraps segment accounted for a share of 32.6% in the global compression therapy market in 2020.
In 2020, the bandages & wraps segment held a significant portion of the market share within the global compression therapy market, specifically accounting for 32.6%. This statistic indicates that bandages and wraps were a popular choice among consumers seeking compression therapy products during that year. The high market share suggests that these products were in demand and likely offered effective and desirable benefits for individuals in need of compression therapy, such as managing swelling, promoting circulation, and aiding in wound healing. Marketers and industry stakeholders can use this data to better understand consumer preferences and tailor their product offerings and marketing strategies accordingly to capitalize on the popularity of bandages and wraps within the compression therapy market.
The sport garments held 4% share in the compression therapy market in 2020.
The statistic that the sport garments held a 4% share in the compression therapy market in 2020 indicates the portion of the market that was attributed to sport garments specifically designed for compression therapy purposes. This implies that out of the total sales in the compression therapy market in 2020, 4% of it was accounted for by sport garments. This information gives insight into the popularity and utilization of sport garments for compression therapy among consumers and highlights the competitive landscape within the market where various products cater to different segments of the population with specific needs and preferences for compression therapy.
The Rest of the World markets including Latin America, Middle East and Africa combined make up around 16.5% of the market share in the molding & casting segment of compression therapy.
The statistic indicates that the Rest of the World markets, which include regions such as Latin America, Middle East, and Africa, collectively account for approximately 16.5% of the market share within the molding & casting segment of compression therapy. This suggests that these regions play a notable role in contributing to the overall market presence and competition in this specific segment. Understanding the market share distribution across different global regions can provide valuable insights for companies operating in the compression therapy industry, helping them tailor their strategies and offerings to effectively target and capitalize on opportunities in these diverse markets.
The home care settings sector has the largest market share at 53.1% in 2020 in the compression therapy market.
The statistic that the home care settings sector has the largest market share at 53.1% in the compression therapy market in 2020 indicates that more than half of the total market for compression therapy products and services is dominated by home care settings. This suggests that a significant portion of individuals receiving compression therapy treatments are choosing to have these services provided in the comfort of their homes rather than seeking care in clinical or hospital settings. This finding highlights the growing popularity and effectiveness of home-based care options in managing conditions that require compression therapy, potentially driven by factors such as convenience, cost-effectiveness, and the trend towards personalized healthcare services.
The compression therapy market in India is estimated to grow at a CAGR of 6.5% between 2021 and 2027.
This statistic indicates that the compression therapy market in India is expected to experience a Compound Annual Growth Rate (CAGR) of 6.5% over the period from 2021 to 2027. This implies that the market is projected to expand steadily at an average annual rate of 6.5% during this time frame. Such growth can be driven by various factors such as increasing awareness about compression therapy, rising prevalence of chronic diseases requiring such treatments, improvements in healthcare infrastructure, and advancements in technology. This forecast provides insights for stakeholders in the industry to plan strategies and investments accordingly to capitalize on the projected growth opportunities in the Indian compression therapy market.
The stockings market was valued at US$ 1,155.1 Mn in 2020 and expected to reach US$ 2,153 Mn by 2027.
The statistic provided indicates the market value of stockings in terms of US dollars for the years 2020 and the projected value for the year 2027. In 2020, the stockings market was valued at US$ 1,155.1 million, and it is anticipated to reach US$ 2,153 million by 2027, representing a growth trend in the market. This growth projection suggests an increasing demand for stockings, likely driven by factors such as changing fashion trends, growing awareness of the benefits of compression stockings for health, and potentially expanding market opportunities. This statistic provides valuable insights for businesses and stakeholders in the stockings industry to anticipate and capitalize on market trends and opportunities in the coming years.
Pneumatic compression pumps segment is anticipated to grow at the highest CAGR of 7.8% during the forecast period 2021-2028.
This statistic indicates that the market for pneumatic compression pumps is expected to experience the highest compound annual growth rate (CAGR) of 7.8% during the forecast period spanning from 2021 to 2028. This suggests that there is a strong demand and increasing trend in the adoption of pneumatic compression pumps within the market during this timeframe. Factors contributing to this anticipated growth could include technological advancements in the design and functionality of these pumps, a rise in awareness and diagnosis of conditions that require such devices, as well as an expanding elderly population who may benefit from these medical devices. Overall, this statistic highlights a projected opportunity and potential for significant growth within the pneumatic compression pumps segment in the upcoming years.
Latin America accounted for 8.1% of the total market value in 2020, and it is predicted to grow at a CAGR of 6.4% during the forecast period (2021-2027).
The statistic indicates that in 2020, Latin America contributed to 8.1% of the total market value, reflecting its significance in the global market. Furthermore, the region is expected to experience robust growth with a Compound Annual Growth Rate (CAGR) of 6.4% over the forecast period from 2021 to 2027. This projected growth suggests a positive outlook for Latin America’s market presence and showcases the potential opportunities for businesses and investors operating within the region. The forecasted expansion at a steady rate indicates a promising trajectory for economic development and business prospects in Latin America.
In Canada, compression therapy is predicted to reach a market size of US$137.7 Million by the year 2026.
The statistic indicates that the market size for compression therapy in Canada is forecasted to grow to US$137.7 million by the year 2026. This suggests a significant increase in the demand and adoption of compression therapy products in the Canadian market over the next few years. The growth in market size can be influenced by factors such as an aging population, an increase in chronic conditions that require compression therapy, advancements in technology leading to more effective products, and a growing awareness among healthcare professionals and patients about the benefits of compression therapy. Overall, this statistic points towards a positive and expanding market for compression therapy products in Canada.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.statista.com
2. – https://www.www.researchdive.com
3. – https://www.www.globenewswire.com
4. – https://www.www.fortunebusinessinsights.com
5. – https://www.www.precedenceresearch.com
