According to a new market report published by Persistence Market Research “Global Market Study on Compression Therapy - Asia to Witness Highest Growth by 2020”, the global compression therapy market was valued at USD 2,377.8 million in 2014 and is expected to expand at a CAGR of 5.2% from 2014 to 2020, to reach USD 3,232.3 million by 2020.
Compression therapy is a procedure entailing the delivery of external force to tired and aching legs and other relevant anatomical targets where compression is required for management. This therapy is used to treat venous and lymphatic diseases, such as lower limb edema, venous eczema, deep vein thrombosis, and diabetic foot ulcers.
Compression can be achieved by using garments such as bandages and stockings. These compression garments prevent blood from pooling in the legs, which, in turn, helps improve blood circulation. Compression garments are designed to apply differing amounts of pressure onto various parts of the leg.
Globally, the compression therapy market is witnessing significant growth due to increasing prevalence of diabetes, growing aging population, high incidence of sports injuries, rising awareness about various venous diseases, and advanced features of compression therapy garments and devices. However, inadequate reimbursement policies and risk of complications associated with compression therapy systems inhibit the growth of the market.
The global compression therapy market is anticipated to grow from an estimated USD 2,377.8 million in 2014 to USD 3,232.3 million by 2020 at a CAGR of 5.2% during the forecast period.
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North America is the largest region and Asia represents the fastest growing region in the compression therapy market. In terms of product segment, static compression therapy is the largest and dynamic compression therapy represents fastest growing segment in this market.
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The North American compression therapy market is is anticipated to grow from an estimated USD 1,102.2 million in 2014 to USD 1,515.4 million by 2020 at a CAGR of 5.4% during the forecast period.
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