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E-Commerce Boom: Online Sales Propel Compression Therapy Market

Posted on September 4, 2023 By Editorial Team

The global compression therapy market is on the verge of significant growth, with revenue estimated at $3.7 billion in 2022, and it’s projected to reach $4.9 billion by 2027, exhibiting a steady compound annual growth rate (CAGR) of 5.5% during this period. This robust expansion is attributed to several key factors, including the rising incidence of sports injuries and accidents, a growing target patient population, and increased sales of compression therapy products through off-the-shelf and online channels.

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Driving Factors:

  1. Growing Incidence of Sports Injuries and Accidents: Sports injuries and accidents are major contributors to death and disability globally. Compression therapy products play a pivotal role in supporting the healing process and expediting patient recovery in cases of skeletal injuries resulting from accidents or sports-related activities. The increasing participation in sports and physical fitness, driven by a heightened awareness of health and fitness, has led to a surge in sports injuries. In the United States alone, approximately 8.6 million sports injuries are reported annually, making compression therapy products crucial in the rehabilitation process.

Challenges:

  1. Low Patient Compliance with Compression Garments: Despite the evident benefits of compression therapy, patient compliance remains a significant challenge. Patients often struggle to adhere to treatment protocols, particularly in long-term therapy where the primary goal is preventive care. Issues like pain, swelling, and skin irritation associated with the use of compression garments contribute to lower patient compliance over time.

Opportunities:

  1. Increased Sales of Off-the-Shelf and Online Products: Products such as low-pressure compression stockings, bandages, and wraps are gaining popularity through pharmacies, retailers (off-the-shelf), and e-commerce platforms because they don’t require authorization from medical professionals. These products are used preventively by patients to avoid injuries. The rising sales of compression therapy products through online channels and off-the-shelf retailers in mature markets present significant growth opportunities for manufacturers in this industry.

Market Segmentation:

  • Product: The global compression therapy market includes a range of products, with compression bandages expected to dominate the market. These bandages are the first line of treatment for venous diseases and are crucial in preventing their recurrence during compression therapy.

  • Application: Varicose vein treatment leads the market segment by application. The increasing prevalence of varicose veins, combined with risk factors such as age-related degeneration, obesity, and hypertension, fuels the demand for compression therapy products in this sector.

  • Region: North America is currently the largest market for compression therapy, with the Asia Pacific region expected to experience the highest CAGR during the forecast period. Factors contributing to this growth include a rising geriatric population, an increasing prevalence of orthopedic and diabetes-related diseases, and expanding healthcare expenditure in Asian countries.

Key Players: Some of the major players in the compression therapy market include DJO Global, Inc., BSN medical, medi GmbH & Co. KG, Tactile Medical, SIGVARIS, Sanyleg S.r.l., 3M Company, ConvaTec Inc., ArjoHuntleigh, and Julius Zorn GmbH.

Recent Developments: In the dynamic compression therapy landscape, key developments include DJO’s acquisition of hip and knee braces, Essity’s acquisition of ABIGO Medical, and DJO’s acquisition of MedShape, Inc., strengthening their product portfolios and positioning them for future growth.

As the compression therapy market continues to expand, driven by sports-related injuries and increased consumer accessibility through online and off-the-shelf channels, it presents a promising future for both manufacturers and patients seeking effective treatment and preventive solutions.

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