Market Introduction: Compression Therapy Devices
Application of external pressure to limbs or other body parts with in intend to treat a chronic condition affecting veins is often referred to as compression therapy. While compression therapy is an internal part of orthopedic treatments for reduction of inflammation, prevention of swelling, alleviation of pain, and recovery of bodily functions at the earliest. Compression therapy devices represent a multibillion dollar market at a global level. Technological and design innovations in compression therapy devices for superior patient comfort will prominently drive the growth of compression therapy devices market in the near future.
Global Compression Therapy Devices Market: Key Dynamics
Predominantly used in the treatment of the various forms of varicose veins such as leg-ulcers, lymphedema, thrombosis, and phlebitis, compression therapy devices are also widely used in prevention of venous issues that arise while traveling over long distances as well as during pregnancy. With an expanding obese population, the prevalence of vascular ailments is on a constant upsurge, driving the demand for compression therapy devices. It is more likely that with booming awareness about adoption of compression therapy devices to effectively address venous veins, diabetic foot ulcers, and deep vein thrombosis will push the sales of compression therapy devices at a global level.
Growing inclination of diabetic population towards chronic wound management to eliminate the associated risk factors will also remain a significant factor improving the prospects for global compression therapy devices market over the years ahead. Static compression therapy devices, which are majorly adopted in cases of chronic venous insufficiency, continuous arterial circulation, and edema, are anticipated to witness robust sales - providing a strong impetus to the compression therapy devices market. Sports medicine is presumed to remain a significant contributor to compression therapy devices market revenue, observing visibly surging adoption of compression therapy devices to treatment of sports injuries.
As inadequate knowledge and awareness about the availability, usage, and advantages of compression therapy devices has been limiting widespread adoption especially within developing economies, key stakeholders and orthopedic experts are increasingly initiating regular product trainings, which is expected to fuel the popularity and sales of compression therapy devices. Another strong challenge restricting the growth of compression therapy devices market includes insufficient knowledge about primary indications of diseases.
The key products under static compression therapy devices for effective compression include tapes, bandages, stockings, elastic garments, and hosieries. Attractive opportunities are projected for manufacturers of compression therapy devices in the near future, as advanced compression therapy garments continue to gather momentum at a notable pace. Besides hospital settings playing a crucial role in encouraging sales of compression therapy devices, privately owned clinics are expected to drive the growth of compression therapy devices market in years ahead.
Global Compression Therapy Devices Market: Segmentation
The global market for compression therapy devices is classified in two key segments, viz. product-wise and end user-wise.
Compression Therapy Devices Market Size Analysis by Product
- Dynamic Compression Therapy
- Static Compression Therapy
Compression Therapy Devices Market Size Analysis by End User
- Ambulatory Surgical Centers
This section of the report is followed by regional segmentation of global compression therapy devices market that includes five market segments based on the geography, which are further analyzed country-wise.
Global Compression Therapy Devices Market: Regional Outlook
- North America – Canada and the US
- Western Europe – UK, Germany, Italy, Spain, France, Nordic, BENELUX
- Eastern Europe – Russia and Poland
- Latin America – Brazil, Mexico, Peru, Chile, Argentina
- Asia-Pacific – India, China, Australia, New Zealand, ASEAN
- Middle East and Africa – Turkey, GCC Countries, South Africa
Global Compression Therapy Devices Market: Key Participants
The global compression therapy devices market report provides extensive profiling of leading, established, and newly entering players in the competitive landscape of compression therapy devices market. Some of the companies listed in the report include –
- Smith & Nephew
- Hartmann Group
- BSN medical
- Gottfried Medical
A number of key companies competing in the global compression therapy devices market landscape are adopting inorganic growth strategies such as collaborations. While M&A investments have been in the bandwagon of developmental strategies, strategic partnerships will continue to grab interests of leading players in compression therapy devices market. A smart bandage developed post partnership (2017) of Karl Otto Braun GmbH & Co. KG (KOB) and Footfalls & Heartbeats (the UK-based smart fabric manufacturer) can accurately measure the pressure exerted by compression therapy devices such as bandage. The capability of this compression therapy device allows live compression therapy monitoring.
Report Highlights: Global Compression Therapy Devices Market
The research report on global compression therapy devices market presents a comprehensive assessment of the compression therapy devices market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on global compression therapy devices provides analysis and information according to market segments such as geographies, application and industry.
The report covers exhaustive analysis on -
- Key Segments of compression therapy devices market
- Compression therapy devices market dynamics
- Compression therapy devices market size
- Supply & demand scenario in compression therapy devices market
- Current trends/issues/challenges impacting compression therapy devices market performance
- Competition & companies involved in compression therapy devices market space
- Value chain
Regional analysis includes –
- North America (United States, Canada, Mexico)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Singapore, Malaysia, Philippines, Thailand, Vietnam)
- Europe (Germany, France, UK, Italy, Spain, Russia)
- Central & South America (Brazil, Rest of Central & South America)
- Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa)
This report on the compression therapy devices market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The global compression therapy devices market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report on compression therapy devices market also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights: Compression Therapy Devices Market
- Detailed overview of parent market
- Changing dynamics of compression therapy devices market in the industry
- In-depth segmentation of compression therapy devices market
- Historical, current and projected compression therapy devices market size in terms of volume and value
- Recent industry trends and developments impacting compression therapy devices market growth
- Competitive landscape governing compression therapy devices market
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth in compression therapy devices market
- A neutral perspective on compression therapy devices market performance
- Must-have information for market players to sustain and enhance their footprint in the global compression therapy devices marketplace
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