Compression therapy is recognized as a gold standard for the treatment of lymphedema, chronic venous insufficiency, and deep vein thrombosis as it is easy-to-use, safe, and provides effective treatment in a short time span. In addition, rapidly increasing lymphedema and deep vein thrombosis cases would boost the global demand for compression therapy products. 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. 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.
Preventive reactive healthcare to benefit compression therapy market
Growth of the global compression therapy is primarily driven by rising sports injuries boost demand for compression therapy products, increase in the number of orthopedic surgeries escalates demand for compression therapy and also rising awareness about use of compression therapy and others. This preference towards preventive healthcare over reactive, external partnerships in research driving compression therapy development and growth of compression therapy in health management associations. However, lack of favorable reimbursement policies restricts market growth, vast product recalls and reported errors and lack of proper treatment/diagnosis options for disease might hamper the growth of the global compression therapy over the forecast period.
Compression bandages squeeze out other products in compression therapy market
Compression Bandage held a significant share of around 44.5% in 2016 and is projected to dominate throughout the forecast period, registering higher CAGR as compared to other segments.
Static Technology dominates Dynamic Technology in compression therapy market
Static hold a significant share of around 83.2% in 2016 and is expected to dominate throughout the forecast period, registering higher CAGR as compared to other segments. This type of compression therapy is used for the treatment of edema, continuous arterial circulation, and chronic venous insufficiency. Bandages, tapes, hosieries, and stocking are primarily included in the static compression therapy products. Among all of the above, elastic garments are mostly utilized as static compression stockings primarily applied in the lower limb to achieve effective compression.
Hospitals largest end users in the compression therapy market
Hospitals hold a significant share of around 34.7% in the compression therapy market in 2016 and are likely to retain their commanding position throughout the forecast period, registering a higher CAGR as compared to other segments.
Focus on North America in the compression therapy market
Geographically, North America is predicted to be the largest regional market by 2017 end and is on track to expand at a CAGR of 5.5% over the forecast period. Asia-Pacific is poised to be the fastest growing market in terms of revenue growth in the global compression therapy, registering a CAGR of 5.6% over the forecast period.
The Persistence Market Research (PMR) report on the Global Compression Therapy Market for the period 2017–2025 offer updates on the ongoing market trends and information regarding market opportunities in the global compression therapy market. The compression therapy market report analyses the global compression therapy market for the forecast 2017–2025 period. The report details the various product types, applications and end users through which it offers comprehensive insights on the competitive landscape in the Compression Therapy market.
Compression Therapy Market Taxonomy
About the Report
This report discusses the global compression therapy market performance by providing revenue contribution from various segments. This section comprises of PMR analysis of key trends, drivers, challenges, and opportunities that influence the growth of the global Compression Therapy market. Impact analysis of the key growth drivers and restraints are mentioned in this report to better provide clients with decision-making insights.
The overview section provides the definitions of compression pump, compression stocking, and compression bandage and compression tape. This section underlines factors influencing the growth of compression therapy market along with detailing of the key trends, drivers, challenges, and opportunities. Impact analysis of the trends is provided in the report to arm clients with information and insights. Distinguishing features of the report includes a list of major vendors manufacturing workstations, drivers, and restraints regional impact analysis, and competitive dashboard. Furthermore, PMR provides a competitive landscape to the companies and their strategic developments.
The report focuses on the growth trends of the Compression Therapy market by regions namely, North America, Latin America, Europe, Asia-Pacific, Middle East & Africa. It provides an outlook for 2017–2025 & sets the forecast for compression therapy market. The market research report discusses regional trends contributing to the growth of the compression therapy market worldwide, as well as analyses the extent to which drivers are influencing this market in each region.
The compression therapy report has taken into account the year-on-year growth to understand the predictability of the market and identify the right growth opportunities in the global Compression Therapy market. An analysis of absolute dollar opportunity and incremental opportunity is conducted for primary segments of this report. Absolute dollar opportunity is usually overlooked while forecasting the market. However, it is the most critical factor for analysing the level of opportunities that a manufacturer can look to achieve, as well as to identify potential resources from a sales and delivery perspective.
In the final section of the Compression Therapy market report, ‘Competitive Landscape' section is highlighted to provide a detailed analysis with a dashboard view, to access the key differentiators among the competitor firms. Detailed profiles of major manufacturing companies is included with company-specific long-term and short-term strategies, company profiles are equipped with their product offerings and recent developments in the Compression Therapy market.