COMPRESSION THERAPY MARKET ANALYSIS

Market Challenges And Opportunities

• Availability of alternative therapies
• Lack of awareness regarding compression therapies

Global Compression Therapy Market Restraint

Several alternative therapies have advantages over compression therapy, such as fewer or no side effects, reduced pain during and after treatment, and a shorter hospital stay.

Moreover, unlike compression therapy, these alternative therapies address the entire disease rather than just the symptoms. Laser and radiofrequency ablation, for example, are frequently used to treat varicose veins.

Global Compression Therapy Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 545,226,550 cases of coronavirus disease (COVID-19) were reported till 1 July, 2022, across the globe.

The present global COVID-19 epidemic has had a substantial influence on markets in a variety of sectors. In terms of global economic conditions, the geographical impact of the pandemic on enterprises, government laws and preventive regulations, demand from end users, supply chain and logistics issues, and the majority of industries are undergoing a moment of uncertainty.

Increasing in venous problems in hospitalized patients as a result of sleeping in one position for a long time during their hospital stay, Covid-19 has had a substantial impact on compression therapy market growth.

For instance, according to the study published in Plos One, titled 'Upper extremity deep vein thrombosis (UEDVT) in COVID-19: Incidence and correlated risk factors in a cohort of non-Intensive care unit (ICU) patients' in January 2022, despite sufficient prophylaxis, UEDVT can develop in COVID-19 patients, particularly those who use helmet continuous positive airway pressure (CPAP) ventilation therapy.

The private healthcare sector is facing challenges such as investing additional manpower, equipment, consumables, and other resources to ensure 100% preparedness for safety in hospitals and the eventual treatment of patients needing compression therapy, alongside the sharp drop in out-patient facilities, surgeries, and international patients.

Key Players

Major players operating in the global compression therapy market are BSN medical, SIGVARIS, medi GmbH & CO KG, Actile Medical, Innothera, PAUL HARTMANN AG, DJO Global, Inc., Devon Medical Products, ElastiMed, KT Health, IntelliSkin, 3M, Biocompression Systems, Inc., Medtronic and Other prominent players.