Published on : Dec 15, 2017
Albany, New York, December 15, 2017: With the advancement of technology and increasing incidence in disease population, compression therapy is gaining wide acceptance as a method of choice among patients. The growth of the compression therapy is primarily driven by rising sports injuries increase demand for compression therapy products, rising awareness about the use of compression therapy and others. Market Research Hub (MRH) has freshly added a new report to its collection that includes an overview of compression therapy market including the drivers, restraints that are hindering the market development and also the trends following the market. The title of the study is “Global Market Study on Compression Therapy: Compression Bandage Expected to be the Most Lucrative Product Type Segment During 2017 – 2025” and this overall study helps the readers to understand the market in depth and get the data related to the CAGR and market revenue share during the forecast period.
The global compression therapy estimated to be worth US$ 2,929.8 Mn by 2017 end and could expand at a CAGR of 5.4% over the forecast period of 2017–2025. The research also adds that the compression therapy market is witnessing a flow with the increase in cases of lymphedema and deep vein thrombosis. The compression therapy helps in curing lymphedema, thrombosis and chronic venous insufficiency in a short time span.
Major Dynamics in Global Compression Therapy Market
From a geographical viewpoint, North America accounted for the largest market share and was valued at US$ 1,323.3 Mn in 2016, and may grow with a CAGR of 5.5% over the forecast period. The geographical segmentation includes regions like Europe, North America, Latin America, APAC and MEA.
The rise in sports injuries is one of the major drivers. It directly rises the demand for demand for compression therapy products. Also, the increase in orthopedic surgeries and awareness about compression therapy uses have been working as a driver to the market.
Apart from that, there are also a few factors that are restraining the advancement of compression therapy market like lack of proper reimbursements in the market, increase in the product recall cases, lack of options for treatments etc.
To simplify the wide compression therapy market, the researchers have segmented the market into various divisions based on different parameters like based on product type, technology, end-user and region. Segmentation by product type comprises compression tapes, compression pumps, compression bandages and compression stockings. Amongst, compression badge segment is expected to dominate the other segments with a higher growth rate. Based on the end user, segments are hospitals, clinics, and ambulatory surgical centers.
In the final section of the report, ‘Competitive Landscape' section is highlighted to provide a detailed analysis with a dashboard view, to access the key differentiators among the competitor firms. The study recognizes THUASNE, Julius Zorn GmbH, PAUL HARTMANN AG, ArjoHuntleigh, medi GmbH & Co. KG, SIGVARIS, Smith & Nephew plc, 3M Company, BSN medical GmbH and Medtronic plc as the major companies that are active in the global market for compression therapy. The report provides brief profiles of these and also many other leading companies in the market, which can be of great help to the struggling companies and to new entrants in the market.
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