Published on : May 10, 2018
Albany, New York, May 10, 2018: Market Research Hub (MRH) has freshly broadcasted a study titled “Compression Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2024” to its massive repository. This precise report shows a clear overview of the market, including the drivers that are helping the growth of the market, restraints that are limiting the market and new trends that are following the global compression therapy market. This in-depth analysis of the market includes the market forecast for the year 2017-2025 while considering 2016 as the base year.
In the initial section, the study describes the scope of the analysis along with a general overview regarding application of compression therapy garments and devices among various other therapy options. Presently, compression therapy is a reliable method of treatment used for a variety of venous disorders and diseases, including varicose veins, deep vein thrombosis, and edema. In compressive therapy, an elastic garment is clung to the body part to exert gradual compression on the limb.
Various hospitals and clinics are increasingly purchasing various compression devices and garments, due to surge in injuries, venous, diabetic or lymphatic diseases. According to the research evaluations, the demand in the global compression therapy market will propagate at a notable CAGR of 5.44% during the forecast period of 2017 to 2024. Value-wise, the analyst of the report has estimated the opportunities in the compression therapy market, across the world, to generate a revenue of US$4.25 billion by the end of 2024, mounting from its assessment worth of US$2.93 billion as of 2017.
An aging population, growing obesity concerns, and sports-inflicted injuries are some of the primary drivers of the global compression therapy market, finds the study. Geographically, prime regions emphasized in the study are North America, Europe, Latin America Asia Pacific, Middle East & Africa (MEA), these are analyzed in terms of market revenue. As per the key estimations, North America accounted for the largest share of the global compression therapy market in 2017 and anticipated to grow maximum revenues in the future years. Besides, improving healthcare infrastructure in emerging economies in the Asia Pacific are anticipated to open vast new opportunities in the near future.
Moving further, the global compression therapy market has been segmented on the basis of product type and technology. By product type, the study covers compression bandages, compression pump, compression stocking, and compression tapes. The heterogeneity of treatments has given rise to various products types. Technology-wise, the market for compression therapy has been bifurcated into static and dynamic. Of them, the static compression therapy segment is projected to dominate the global market from 2017 to 2024 due to easy availability and high demand for the products.
In the end, the study includes the competitive assessment of the global compression therapy market. In a highly fragmented competitive landscape, the analyst of the report has rated Covidien plc, medi GmbH & Co KG., 3M Health Care, SIGVARIS MANAGEMENT AG., BSN Medical, ArjoHuntleigh, PAUL HARTMAN AG, and Bio Compression Systems, Inc. as a few notable companies in the global market.
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