The global Compression Therapy market size is expected to be worth around US$ 13.96 billion by 2030, according to a new report by Vision Research Reports.
The global Compression Therapy market size was valued at US$ 12.9 billion in 2020 and is anticipated to grow at a CAGR of 15.2% during forecast period 2021 to 2030.
Increasing prevalence of chronic venous disorders such as deep vein thrombosis, leg ulcers, lymphedema and venous insufficiency is expected to serve as the key driver.
Growing sports and adventure related injuries are also expected to boost market growth over the forecast period. In Addition, the increasing incidence of diabetes is also likely to support the market demand as diabetic patients usually suffer from swelling in legs, ankles and feet.
Rising geriatric population base is identified as a driver for the compression therapy market owing to the high susceptibility of this age group towards developing chronic venous disorders. Additionally, advancements like use of mobile intermittent pumps and inelastic boots is likely to lead to better compliance and efficacy in patients thereby, leading to greater usage of this therapy.
Static technology dominated the technology segment in 2016 owing to the high convenience and user-friendly attributes of this technology. The sizable share garnered by this segment is attributable to greater accessibility of these products in treating edema and sports-related injuries to enable pain and pressure relief. Benefits associated with static technology are also believed to drive the inclination of patients as well as physicians, thus accounting for a dominant share.
Moreover, the substantial share captured by this segment is also presumed to be a consequence of the high susceptibility of the growing diabetic and geriatric population base to the development of lymphedema, deep vein thrombosis, and chronic venous insufficiency. In addition, presence of organizations consistently striving to promote awareness levels pertaining to its usability in certain indications. For instance, as per the National Medical Policy of Health Net, Inc., a government healthcare insurance provider recommended the usage of intractable lymphedema in the arms due to mastectomy for breast cancer.
Dynamic technology is expected to witness exponential growth during the forecast period as a consequence of benefits associated with, deeming it a more appropriate choice in the future. These benefits include external control, high venous return, and sustained effect.
Also, with healthcare professionals increasingly recommending the utilization of dynamic technology is anticipated to escalate. For instance, in 2008, the American College of Physicians conducted a study on antithrombotic therapy for venous thromboemebolic disease, which exhibited positive results
bandages held the dominant share of over 46.0% in the product segment. The aforementioned is believed to be a result of their high adoption in the treatment of edema and venous and lymphatic disorders of the lower limb. Benefits such as high tension sustainability and high-cost efficiency, extensibility, and elasticity associated with bandages are presumed to be responsible for their adoption in wide range of venous ailments.
In addition, availability of wide range of bandages, such as multilayer, long-stretch, and short-stretch, to fulfill patient requirements and yield better outcomes are leading to high segment growth. Bandages are considered as a gold standard in the treatment of lymphedema and occurrence of majority of the vascular diseases led to the uptake of these bandages, which contributed to the dominant share in 2016.
Compression pumps are anticipated to exhibit significant CAGR over the coming years owing to the rise in the number of cases of lymphedema and other venous disorders. Moreover, pumps are designed to facilitate the delivery of controlled pressure as per the severity of the disorder, thereby rendering it more effective in comparison to the other alternatives. In addition, as per the Journal of the American Medical Association (JAMA) Dermatology, pump usage leads to considerable reduction in hospital stay duration, cellulitis infection, and outpatient visit rates.
Furthermore, pumps are increasingly being incorporated as an alternative to failed conservative measures. Single compartment and multiple-chamber nonprogrammable lymphedema pumps are in certain cases, where patients are unresponsive to conventional options such as compressive garments, termed as medically necessary in the treatment of lymphedema and venous ulcers.
North America captured a dominant share of the overall market in 2016. Growing geriatric population and high incidence of chronic venous disorders and obesity is responsible for the share attained by this region over the previous years. Presence of favorable government reimbursement plans and growing healthcare awareness levels are also key growth contributor factors across this region.
In addition, presence of wide number of established pharmaceutical companies, which are consistently striving for extensive commercialization and enhancing their geographical reach, is presumed to be a key factor responsible for heightened growth over this region. The U.S. held the largest share of in the North American compression therapy market in 2016 owing to the burden of chronic target diseases in the U.S., which is driving the clinical urgency to use compression products. According to a research published in NCBI, the prevalence of chronic venous disorders was reported as the highest in the Western countries, which varies between 15.0% to 40.0% in females and 1.0% to 17.0% in males.
The Asia Pacific is anticipated to witness lucrative growth rate throughout the forecast period. The market is driven by high investments on R&D by key players as well as consistent initiatives to commercialize products at a relatively lower price. In addition, rising disposable income that raises the probability of usage of these products, and continuous upgradation of healthcare infrastructure is predicted to provide the market with remunerative growth opportunities.
Medi GmbH & Co., Paul Hartmann AG, Julius Zorn GmbH, ArjoHuntleigh, SIGVARIS, Medtronic Plc, and BSN Medical GmbH.
Static Compression Therapy
Dynamic Compression Therapy
Middle East & Africa
The Compression Therapy market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Compression Therapy market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Compression Therapy market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Compression Therapy market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Compression Therapy market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Compression Therapy capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Compression Therapy by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Compression Therapy market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Compression Therapy market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Compression Therapy market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Compression Therapy industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Compression Therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Compression Therapy market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Compression Therapy market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Compression Therapy market. These factors have benefited the growth of the global market for Compression Therapy. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Compression Therapy. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Compression Therapy are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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