Compression Recovery Systems Market Size, Share, Growth, and Global Industry Analysis, By Type (Legs, Arms, and Others) By Application, (Sports Recovery and Medical Therapy), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

COMPRESSION RECOVERY SYSTEMS MARKET REPORT OVERVIEW

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The global compression recovery systems market size is predicted to value USD 1329.1 million in 2022 and is projected to touch USD 2464.09 million by 2031, exhibiting a growing CAGR of 7.1% during the forecast period.

Compression recovery systems are devices used to increase the blood flow and efficiency of the venous systems in the lower limbs by strengthening the vein support. It is used as wound care that gently applies pressure to the legs and ankles by wearing specifically designed stockings. It is widely used to treat muscle soreness, sports injuries, obesity, and road accidents. Advanced research also proved that this therapy offers a physiological change that helps improve muscular recovery. 

Compression recovery systems deliver the compression of natural sequential and help flush the waste, which is forecasted to surge growth in the market. The rising geriatric population and the rapid adoption of pressure therapies to treat vein disorders are anticipated to surge major growth in the global market. These systems are the bandages and stockings which work wonders in orthopedic procedures to relieve pain. Treatment by these systems ensures faster functional recovery than other treatments. 

COVID-19 Impact: Lack of Workforce During Lockdown Impeded Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with compression recovery systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the compression recovery systems market growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic created havoc worldwide and disrupted the demand and supply chain. The consumer goods industries saw significant development in production and services before the outbreak; on the contrary, the outbreak severely disrupted the consumer goods supply chain and production. Manual labor is used in the consumer goods industries to assemble the device. Thus, the sector suffered a drastic imbalance in product extraction. The stringent rules by the government to control the spread of the pandemic forced the population to stay indoors, which reduced the workforce in the compression systems market. 

LATEST TRENDS

"Rising Burden of Accidents to Drive Market Trend"

The market is anticipated to grow due to the rising number of road accidents, sports injuries, and obesity. The muscles get stretched during any sports activity or accident and create soreness in the muscles. The muscle soreness causes stiffness and pain in the muscle after exercise. Compression recovery systems are used to prevent pain and stiffness, and the rising inclination of youngsters toward sports activities is expected to escalate the compression recovery systems market growth. 

COMPRESSION RECOVERY SYSTEMS MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into legs, arms, and others.

Legs are expected to dominate other segments and hold more than 60% of the total market share.  

• By Application Analysis

Based on application, the market is classified into sports recovery and medical therapy. 

DRIVING FACTORS

"Constant Launch of New Therapy Devices to Bolster Market Growth"

The rising launch of advanced compression recovery systems devices is anticipated to boost the product demand. Additionally, the large patient population suffering from arthritis is forecasted to bolster the compression recovery systems market growth. The prevalence of diseases such as ulcers, scars, muscle soreness, and others are likely to boost the market growth. Furthermore, the quick results can be noticed in a few hours, and other options take 12-48 hours to show results. 

"Rising Prevalence of Lymphatic Disorders to Drive Product Demand "

The consistently rising prevalence of venous and lymphatic disorders is forecasted to drive the product demand. Obesity, varicose veins, immobility, and pregnancy contributes to the rising demand for the product in the market. The rising prevalence of these diseases and increasing awareness toward the treatments of the diseases by compression therapy is also anticipated to boost the market growth.  

RESTRAINING FACTORS

"Availability of Alternative Treatments to Retard Market Growth"

The presence of alternative treatment methods and the absence of awareness regarding these therapies is forecasted to hinder the market growth. Limited knowledge about these venous and lymphatic disorders systems in emerging countries may limit the market growth. Additionally, the market growth may be affected by the high cost associated with the compression recovery devices.

COMPRESSION RECOVERY SYSTEMS MARKET REGIONAL INSIGHTS

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"North America to Dominate Due to Rising Awareness for Early Diagnosis of Disease "

North America is forecasted to dominate the market due to good awareness for early diagnosis of diseases and injuries such as sports injury, internal injury, or venous ulcers. Industrialized nations have many patients suffering from these diseases, which are estimated to bolster the product demand in the region and contribute 48% of the total expansion of compression recovery systems market share. Moreover, the constantly rising number of road accidents  will likely surge compression recovery systems market growth. Furthermore, international companies in the region are expected to be another factor in surging growth. 

KEY INDUSTRY PLAYERS

"Companies to Emphasize On Gaining Collaboration to Expand Market Growth"

Key manufacturers are focused on constantly upgrading their product portfolio by launching advanced features in the compression recovery devices to differentiate their products from other companies products. Competitors also emphasize sustaining the market of heavy competition.  The key competitors are making various analytical approaches key competitors are making various analytical approaches. Major players also emphasize boosting their presence through investments, partnerships, agreements, joint ventures, expansions & investments, and partnerships. The emergence of advanced technology in the device is expected to escalate the product demand and support the compression recovery systems market growth.  

List of Market Players Profiled

• Hyperice (NormaTec) (U.S.)
• Mego Afek (Israel)
• Arjo (Sweden)
• DJO (U.S.)
• Rapid Reboot (U.S.)
• Air Relax (U.S.)
• Bio Compression (U.S.)
• Squid Compression (U.S.)
• RP Sports (RecoveryPump) (U.S.)
• RevitaPump (U.S.)
• Daesung Maref (Korea)
• BSN Medical (Wright Therapy) (U.S.)
• Tactile Medical (U.S.)
• Speed Hound (U.S.)
• Direct Healthcare Group (Talley) (U.K.)
• Longest Science & Technology (China)

INDUSTRY DEVELOPMENT

• January 2022- AIROS Medical Inc., a manufacturer, distributor, and designer of compression recovery systems, and Fist Assist Devices, LLC, a medical device company, introduced www.fistassistusa.com to sell Fist Assist FA-1 devices in the United States. This launch is expected to boost the sales of compression therapies through online platforms. 

REPORT COVERAGE

The report gives an overview of the ore extraction research methodology, market dynamics, and an  analysis. The report covers market drivers and the challenges expected to hinder market growth. Additionally, the report includes an assessment of the pandemic and the segmentation of the market on the basis of type and applications. Furthermore, the report represents the dominant segment, and it also covers the reason that supports the dominating segment.