Market Highlights
The Global compression
therapy market is expected to grow at an approximate CAGR of 5.2% during
forecast period, 2018–2023.
Increasing participation of market players is the key factor
driving the compression therapy market. For instance, in 2015, SIGVARIS
launched diabetic compression socks to provide maximum therapeutic relief for
diabetic patients.
Various other factors such as increasing incidence of sports
injuries and accidents, technological advancements, presence of a large target
patient population and rising patient awareness regarding the benefits of
compression therapy are also expected to propel the growth of the market.
However, low patient compliance for compression garments,
adoption of alternative therapies for specific target indications and lack of
universally accepted standards for compression products can hinder the market
growth over the forecast period.
Segmentation
The Global compression therapy market is segmented based on
technique, product, application and region.
The Global market for compression therapy, by technique is
segmented into static compression therapy and dynamic compression therapy.
The market, by product, is segmented into compression
garments, compression pumps and compression braces. The compression garments
segment is further classified as compression stockings, compression bandages
& wraps and others.
Based on application, the market is segmented into varicose
vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer
treatment and others.
Regional Analysis
he Americas dominated the global market for compression
therapy. This can be attributed to the presence of major market players within
the region.
Owing to the rising research and development investment and
increasing prevalence venous leg ulcers, European compression therapy market
stood second in 2017. According to the 2018 study published in the Burns &
Trauma journal, venous ulcers are a common chronic problem in many countries
especially in Northern Europe. The overall prevalence of this condition is
1%-3% in the population above 65 years of age.
Asia Pacific was projected to be the fastest growing region
in 2017. Factors such as growing healthcare sector, increasing penetration of
the market players within the region, and increasing healthcare expenditure
drives the regional markets of the Asia Pacific region. According to the data
suggested by the Australian Institute of Health and Welfare, Australia spent
nearly USD 181 billion on health in 2016–2017.
On the other hand, the Middle East and Africa held least
share in the global compression therapy market due to the low per capita
income, especially within the African region.
Key Players
Some of the key players in the global compression therapy
market are 3M, Medtronic PLC, Bio Compression Systems, Inc., BSN Medical, Medi
GmbH & Co. Kg, Paul Hartmann AG, Smith & Nephew PLC., Cardinal Health,
Inc., Sigvaris, Sanyleg S.R.L., Tactile Medical, Convatec Inc., DJO Global
Inc., Getinge AB, Juzo and others.
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Report @ https://www.marketresearchfuture.com/reports/compression-therapy-market-7185
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