Compression therapy is defined as wearing garments that are specially designed to support veins and increase blood circulation. This therapy is used to prevent venous disease or chronic venous disorders (CVD) such as swelling, heaviness, cramps, dermatitis, ulcer, and others.
The Global Compression Therapy Market accounted to USD 3.2 billion in 2016 growing at a CAGR of 5.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Compression Therapy Market
These devices are used in hospitals, clinics, research laboratories.
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Major market drivers and restraints: Global Compression Therapy Market
Rapidly aging population
Increasing healthcare expenditure
Easy incorporation and durability of products
Increasing affordability and availability
Market Segmentation: Global Compression Therapy Market
By product type the market for global compression therapy market is segmented into static compression therapy and dynamic compression therapy. The static compression therapy segment is further segmented into compression garments, compression bandages, anti-embolism stockings, diabetic shoes, and diabetic compression socks.
The dynamic compression therapy segment is further segmented into segmented compression pumps, non-segmented compression pumps, compression sleeves.
By end-user the global compression therapy market is segmented into hospitals, clinics, ambulatory centers.
On the basis of geography, global compression therapy market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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Competitive Analysis: Global Compression Therapy Market
The global compression therapy market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of global compression therapy market for Global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Compression Therapy Market
Some of the major players operating in global compression therapy market are Medi GmbH & Co., Medtronic Plc, SIGVARIS, Julius Zorn GmbH, Hartmann AG, 3M Health Care, Spectrum Healthcare, Bio Compression Systems, Inc., Gottfried Medical, BSN Medical GmbH, among others.
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