Compression Therapy Market Overview:
The global report on the compression therapy market discloses that the market was valued at USD 2600 million in 2017 and it is showing signs of proceeding ahead with 5.2% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) while going through the details of the market made special mentions about factors that can ensure growth in the coming years.
Arthritis is a major reason that would back the global market. Along with this, an increasing number of sports injuries may create demand for compression therapy. This would be a significant boost to the market. A high number of patients registering for associated markets, growing patient pool, and others would secure growth for the market.
But a lack of structure and alternative methods can deter the compression therapy market growth possibilities.
Compression Therapy Market Segmentation:
The global market report on the compression therapy market can be segmented into technique, product, and application. These segments are loaded with factorial details that can be used to provide tailwinds to the market.
By technique, the report on the compression therapy market can be segmented static compression therapy and dynamic compression therapy. The dynamic segment is getting a substantial boost due to the better inclusion of technologies.
By product, the global compression therapy market can be segmented into compression garments, compression pumps, and compression braces. The compression garment includes compression stockings, compression bandages & wraps, and others.
By application, the report on the compression therapy market can be segmented into varicose vein treatment, lymphedema treatment, deep vein thrombosis treatment, leg ulcer treatment, and others.
Compression Therapy Market Regional Analysis:
The global market on compression therapy would gain the most from the American market where the US and Canada would contribute the most to back their demographic requirements. Superior infrastructure, better investment capacity, hike in research & development projects, presence of several companies in the region, and others would provide a substantial backup to the regional growth of the market. This would be true for Europe as well where countries like the UK, France, Germany, and others are expected to boost the demand for growth. Their expenditure capacity to build a proper healthcare infrastructure is immense.
In the Asia Pacific region, various factors like emerging nations spending more on the healthcare sector, global players showing interest in the region to expand their business, growth possibilities with a huge patient pool, and others can boost the market growth possibilities. India, China, Australia, Japan, South Korea, and others are making significant progress to establish a growth pattern for the regional market. The Middle East & Africa would generate the least amount of revenue due to poor investment capacity.
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Compression Therapy Market Competitive Landscape:
The global compression therapy market is building its prospects by relying heavily on the strategical contributions of companies like Bio Compression Systems, Inc., 3M, Medtronic PLC, Paul Hartmann AG, Smith & Nephew PLC., BSN Medical, Medi GmbH & Co. Kg, Inc., Getinge AB, JSigvaris, Sanyleg S.R.L., Cardinal Health, DJO Global Inc., Tactile Medical, Convatec Inc., uzo and others. These companies are known for their participation in various mergers, acquisitions, collaborations, and other launching-related moves that could effectively create grounds for compression therapy market expansion. Detailed research, conducted by MRFR, would provide a sketch of how the market is accelerating.
Compression Therapy Industry News:
In February 2020, Orange Cryo Wellness announced that they are about to offer their patients the benefits of NormaTec Compression treatments. The latest treatment is known for its dynamic compression or pulsing, which is completely different from the traditional static model.