China Compression Therapy Market Analysis

China Compression Therapy Market Executive Summary

China's Compression Therapy Market was valued at $99 Mn in 2022 and is estimated to reach $131 Mn in 2030, exhibiting a CAGR of 3.6% during the forecast period.

Compression therapy, a medical procedure commonly used on limbs, aims to enhance blood circulation and reduce swelling. It is frequently employed for conditions like lymphedema, venous disorders, and specific edemas, with the primary goal of improving venous blood flow and preventing fluid buildup in tissues. Depending on the severity and individual needs, compression therapy may take various forms, such as elastic stockings, sleeves, or bandages. Techniques like compression wraps involve applying multiple layers for graduated compression, while intermittent pneumatic compression (IPC) mimics natural muscle contractions to aid venous return. Consulting with a healthcare provider is crucial to determine the most suitable technique and compression level, especially when developing comprehensive treatment plans for issues like poor circulation, swelling, or fluid retention.

Venous disorders, particularly chronic venous disease (CVD), exhibit a high prevalence in China, affecting 48.5% of the population. The incidence of CVD rises notably with age, impacting up to 81.1% of individuals over 65 years old. Women experience a higher prevalence than men, with rates of 58.5% for women compared to 32.1% for men, making CVD the most common venous disorder in China. Deep Vein Thrombosis (DVT) is notable, affecting 0.82% of hospital discharges and 4% of patients admitted for any reason. Varicose veins, a common symptom of CVI, also affect a substantial portion of the population. Lifestyle factors such as obesity, physical inactivity, and prolonged sitting contribute to the development of venous disorders.

Compression therapy integration with telehealth platforms is a strategic initiative designed to improve patient accessibility and convenience. Notably, companies such as Juzo and Bauerfeind are at the forefront of this effort, providing telehealth solutions that facilitate remote monitoring and patient support in the management of compression therapy. This novel approach to compression therapy not only fits in with the current digital health trend but also adapts to patients' changing needs by providing a more customizable and patient-centred approach.

Market Dynamics

Market Growth Drivers

High Prevalence of Venous Disorders: China experiences a notably high occurrence of venous disorders, specifically Chronic Venous Disease (CVD), impacting potentially hundreds of Mns of individuals. This extensive patient demographic indicates a significant need for compression therapy products for both treatment and control.

Rising Geriatric Population: According to projections, in 2023, over 18.5% of China's population is 65 years of age or older. By 2040, this percentage is expected to rise to 28%, and by 2050, it will reach 40%. The demand for compression therapy is being driven in large part by China's aging population. China is dealing with a rapidly aging population, with a higher proportion of the population being predisposed to ailments like lymphedema, varicose veins, and cardiovascular diseases, all of which can benefit from compression therapy.

Increasing Healthcare Awareness: The expanding knowledge among both healthcare practitioners and the general populace regarding the advantages of compression therapy is driving the market's expansion. Educational initiatives and endorsements from medical experts and athletes are additional factors contributing to the market's growth.

Market Restraints

Low Patient Compliance: Consistently wearing compression apparel throughout the day may cause discomfort and restrictions, diminishing adherence and effectiveness of the treatment. This is particularly evident in non-medical scenarios such as sports recovery or daily wear. Insufficient patient education and awareness regarding the lasting advantages of compression therapy also play a role in fostering low compliance.

Competition from Alternative Therapies: In specific cases such as venous insufficiency, individuals may choose alternative treatments such as medication, sclerotherapy, or surgery, particularly when cost or convenience plays a crucial role. It is important to thoroughly assess the efficacy of these alternatives in comparison to compression therapy, taking into account the unique characteristics of each case.

Price Sensitivity: Affordability can pose a notable challenge for certain consumers, especially in non-medical contexts. Despite a gradual decline in prices, premium medical-grade compression garments remain costly for a significant portion of the population. It is imperative to address diverse needs by providing a broader array of products across various price ranges and investigating potential insurance coverage options.

Healthcare Policies and Regulatory Landscape

The National Medical Products Administration (NMPA), formerly known as the China Food and Drug Administration (CFDA), is primarily responsible for the supervision and control of therapeutic medications in China. In order to guarantee the efficacy, safety, and caliber of pharmaceuticals, the NMPA plays a critical role in evaluating and approving their marketing. The start of clinical trials also requires approval from the NMPA, with a focus on maintaining ethical and safety standards. To maintain the highest standards of consistency and quality in pharmaceutical manufacturing, the NMPA also strictly enforces adherence to Good Manufacturing Practices (GMP). Because the government is involved in negotiations regarding pricing and reimbursement policies, the National Healthcare Security Administration (NHSA) has the authority to determine how much therapeutic medications cost and how much they are reimbursed.

Competitive Landscape

Key Players

• Medi
• Sigvaris
• Juzo
• Bauerfeind
• Jobst
• Amoena
• LymphoCare
• Activa Healthcare
• Variteks
• Ofa Bamberg