Compression Therapy Market Overview
The global compression therapy market is rising pervasively. The market growth attributes to the increasing prevalence of leg injury or surgery, obesity disorders, varicose veins, and other bone-related diseases & disorders. The growing trend of sedentary lifestyles plays a causal role in deteriorating human health and, thus, the market’s development. Compression therapy is an effective technique to increase the blood flow in the lower limbs through strengthening vein support.
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It aims to gently apply pressure to the ankles and legs by wearing specially designed stockings. These dressings gradually stretch out vein walls and improve overall circulation, eliminating edema or swelling. Moreover, increasing awareness of the benefits of compression therapy escalates the growth of the market. According to Market Research Future (MRFR), the global compression therapy market was valued at USD 2600 MN in 2017, projected to grow further at a CAGR of 5.2% over the forecast period.
The rising adoption of compression therapy and advances in techniques of using compression products are prime factors helpful in the restoration of continuity and tensile strength to the injured tissues during the healing process. Also, to minimize their healthcare costs, people prefer lesser hospital stays, which creates substantial market demand. The rising geriatric populace is another key growth driver for market growth.
Continuous product launches by industry players bolster the market growth, making a range of products available.
The growing awareness among people associated with trust that these specially designed, technologically advanced products offer value & quality outcomes for patients, substantiates the market growth. Additionally, favorable reimbursement program designed to incentivize physicians and thus to promote the sale of products is, in turn, increase the market size. Furthermore, the preference of lesser hospital days and inclination towards products that enhance therapeutic outcomes provide impetus to the growth of the market.
Global Compression Therapy Market – Segments
The report is segmented into four dynamics;
By Technique : Static Compression and Dynamic Compression Therapy.
By Product : Compression Pumps, Compression Braces, Compression Garments (Compression Stockings, Compression Bandages & Wraps, others), and others.
By Application : Deep Vein Thrombosis Treatment, Varicose Vein Treatment, Lymphedema Treatment, Leg Ulcer Treatment, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Global Compression Therapy Market – Regional Market
North America dominates the global compression therapy market. The largest market share attributes to the presence of several well-established market players and healthcare sectors in the region. Besides, the well-spread awareness for the benefits of compression therapy for edema control impacts the market growth positively.
Moreover, the availability of technologically advanced compression therapy products and devices boost market growth. Also, factors such as the high prevalence of chronic arthritis and diseases related to bones and veins create enormous market demand. The North American compression therapy market is projected to retain its leading position in the global market throughout the assessment period.
Europe stands second in the global compression therapy market. The market is driven by rising research and development investments. Government schemes to minimize patient costs and prevalence of chronic orthopedic diseases drive the regional market growth. Additionally, the presence of reputed players and technological advances of products influences the growth of the market. The European compression therapy market is expected to create a substantial revenue pocket during the review period.
The Asia Pacific compression therapy market is growing rapidly. Factors such as the increasing cases of bone & nerves damaging injuries and awareness for the benefits of compression therapy propel the regional market growth. Moreover, technological advances and increasing per capita healthcare expenses positively impact regional market growth. Furthermore, the presence of prominent players, alongside the large patient pool in China and India boost the regional market growth. The APAC compression therapy market is projected to expand at a rapid CAGR over the forecast period.
Global Compression Therapy Market – Competitive Analysis
Highly competitive, the compression therapy market appears to be well established due to the presence of many notable industry players. Through the strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch, these players try to gain a larger competitive share in the market.
Compression Therapy Market Major players:
Players leading the global compression therapy market include Medtronic PLC, 3M, Bio Compression Systems, Inc., Medi GmbH & Co. Kg, BSN Medical, Paul Hartmann AG, Cardinal Health, Inc., Smith & Nephew PLC., Sigvaris, Tactile Medical, Sanyleg S.R.L., Convatec Inc., DJO Global Inc., Getinge AB, and Juzo, among others.
Compression Therapy Industry/ Innovation/ Related News
June 15, 2020 —- Medi USA, a medical device manufacturer, launched its newest flat-knit compression portfolio – mediven® cosy 450. The new flat-knit option product range offers flexible freedom of movement with strong wall stability. The assortment of mediven flat-knit compression includes the strongest and most reliable hold of the mediven 550. The lighter mediven Mondi 350 variant and the cosy 450 offer a supple feel with strong support.
Medi USA is part of medi GmbH & Co. KG, (Germany), a global leader in the manufacture of medical aids, sports textiles, and fashion products. Medi USA offers pharmaceutical products and technologies focused on compression therapies for chronic medical conditions, athletic performance, and fashion.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.4 Macroeconomic Indicators
4.5 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
LIST OF TABLES
Table 1 Compression Therapy Market Synopsis, 2018–2023
Table 2 Compression Therapy Market Estimates And Forecast, 2018–2023 (USD Million)
Table 3 Global Compression Therapy Market, By Region, 2018–2023 (USD Million)
Table 4 Global Compression Therapy Market, By Technique, 2018–2023 (USD Million)
Table 5 Global Compression Therapy Market, By Product, 2018–2023 (USD Million)
Table 6 Global Compression Therapy Market, Application, 2018–2023 (USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Compression Therapy Market
Figure 3 Market Dynamics For Global Compression Therapy Market
Figure 4 Compression Therapy Market Share, By Technique,2017
Figure 5 Compression Therapy Market Share, By Product,2017
Figure 6 Compression Therapy Market Share, Application, 2017
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