Global Compression Therapy Market Overview:
Compression therapy is used for patients with venous ulcers. This therapy is used to increase blood flow activity in the lower limbs through strengthening vein support. It helps to improve aching and release compression between the vein walls. It is a simple and effective mechanical principle that includes applying an elastic garment around the leg. This therapy is used to treat phlebitis, thrombosis, post vein surgery as well as to release all manifestations of chronic venous disease such as heavy legs, varicose veins, oedema, and leg ulcers. The increasing rate of chronic venous is driving the global compression therapy market growth. Some of the players profiled in the study are BSN medical (Germany), 3M Company (United States), ConvaTec Inc. (United Kingdom), ArjoHuntleigh (Sweden), DJO Global Inc. (United States), medi GmbH & Co KG (Germany), Tactile Medical (United States), PAUL HARTMANN AG (Germany), SIGVARIS (Switzerland), Sanyleg S.r.l. (Italy), Julius Zorn GmbH (Germany), Bio Compression Systems, Inc. (United States), Medtronic PLC (Ireland), Smith & Nephew PLC. (United Kingdom) and Sigvaris (Switzerland). According to Market Analyst at AMA, the Global Compression Therapy market may see a growth rate of 5.04%
On the basis of geography, the market of Compression Therapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Garment Material, the sub-segment i.e. Elastic will boost the Compression Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Hospitals will boost the Compression Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pressure, the sub-segment i.e. Mild (< 20mmHg) will boost the Compression Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Symptoms, the sub-segment i.e. Leg Injury or Surgery will boost the Compression Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technique Type, the sub-segment i.e. Static Compression Therapy will boost the Compression Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Cost-effectiveness of Compression Therapy
- Potential Impact of Compression Therapy on Ulcer Healing
- Technological Advancements in Orthopedic Procedures
- Rising Chronic Venous Diseases
Influencing Trend
- Support For Implementation in Emerging Countries as in India, Brazil and
- China
Restraints
- Low Patient Compliance for Compression Garments
Opportunities
- Development Potential of Compression Therapy in Emerging Markets
- Growing Patient Awareness Regarding the Benefits of Compression Therapy in Target Disease Management
- Reduced Muscle Recovery Time and Soreness
Challenges
- Significant Adoption of Alternative Therapies for Specific Target Indications
Key Market Developments:
In October 2018, Tactile Medical, a medical technology company focused on developing medical devices signed an exclusive license agreement with Sun Scientific, Inc. for certain intellectual property, including the Aero-Wrap compression therapy products. This partnership was aimed to leverage Tactile Medicals market leadership in treating chronic swelling and expanding strong distribution infrastructure in the United States.
The manufacturers of the compression therapy market continue to focus on innovation and technological advancements. The companies are offering products used in compression therapy coupled with competitive pricing is likely to assist in increasing market share over the forecast period.
Target Audience:
New Entrants/Investors, Analysts and Strategic Business Planners, Compression Therapy Providers, Medical and Clinical Research Laboratories, Dealers, Suppliers, Traders, and Distributors of Compression Therapy Products, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
Major Objectives Focused through this Study
To define, describe, and forecast the Global Compression Therapy market on the basis of product [Compression Stockings, Compression Bandages & Wraps, Compression Braces, Compression Pumps and Other] , application [Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Compression Therapy market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Compression Therapy industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are
.** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Compression Therapy market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.