PMR presents a revised forecast of the compression therapy market for the period 2017 – 2025 in its latest report titled ‘Compression Therapy Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)’. The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants actively involved in the compression therapy market. The global compression therapy market is projected to expand at a healthy CAGR of 5.4% and reach a market value of US$ 4,468.4 Mn by 2025 end.
Highest Response Rate Make Compression Bandages Vital in Compression Therapy Market
On the basis of product type, the market is segmented into compression pump, compression stocking, and compression bandages and compression tape. Compression bandage have the highest demand on account of the higher response rate of compression therapy. Companies are focusing on collaboration to develop new more effective products. The product type segment of compression therapy will be boosted by its higher response rate and increasing research activities for R&D leading to inorganic growth in the compression therapy market.
Static Technology Outpaces Dynamic Technology in Compression Therapy Market
Static technology is preferred by a significant margin in the compression therapy market and it holds a around 83.2% in 2016. Static technology is predicted to remain popular throughout the forecast period. Bandages, tapes, hosieries, and stocking are typically considered a part of static compression therapy products. Elastic garments are mostly utilized as static compression stockings primarily in the lower limbs to achieve effective compression.
Hospitals Hold a Lion’s Share in the Compression Therapy Market
Based on end user the market was segmented to hospitals, ambulatory surgical centers, clinics, online sales and other healthcare facilities. Hospitals have a major market share and are poised to register a CAGR of 5.8% in terms of value over the course of the forecast period owing to an increasing focus of availability.
Presence of Major Players Makes North America Critical in the Global Compression Therapy Market
North America region dominated the compression therapy which is estimated to measure around 47.1 % of the global market in 2016 and is expected to continue to dominate the overall market partly due to the presence of higher awareness and entry of players into the market by launching different products.
Competition Dashboard in the Global Compression Therapy Market
Global compression therapy is highly fragmented owing to the presence of various companies such as Smith & Nephew, 3M, Medtronic, Inc., ArjoHuntleigh (Getinge AB), Bio Compression Systems, Inc., BSN Medical, medi GmBH & Co KG, SIGVARIS, PAUL HARTMANN AG, Therafirm, 2XU Pty. Ltd. and Santemol Group Medikal.
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