Market Highlights
Market Research Future (MRFR) studied the Global compression therapy market 2020 for the review period 2018 to 2023. As per the analysis, the compression therapy market can thrive at 5.2% CAGR in the analysis period. By 2023, the compression therapy market can generate considerable revenue. A comprehensive COVID 19 impact study for the compression therapy market is presented in the report. The rise in number of new players in the compression therapy market can favor its growth. In addition, these players are highly focused on the introduction of modern therapeutics that can offer maximum relief to diabetic patients, which, in turn, can contribute to the market expansion in the review period. The rise in the application of compression therapy in the sports sector, as sports injuries and accidents rise, can support the expansion of the compression therapy in the analysis period. Advances in technology and expansion of patient population, along with surge in awareness about compression therapy among them can prompt the growth of the compression therapy market through the study period. On the contrary, low compliance for compression garments by patients and the availability of alternative therapies options can curb the application of compression therapy. This can hinder the market rise in the review period.
Market Segmentation
The segment evaluation of the market compression are product, technique, and application.
The compression therapy based segment of the compression therapy global market are dynamic compression therapy and static compression therapy. The prior segment can win considerable profits for the market in the upcoming year.
The market type based segment of the compression therapy global market are compression pumps, compression garments, and compression braces. The compression garments segments are compression bandages & wraps, and compression stockings among others. Across the analysis period, the compression pump segment can add value to the market.
The application based segments of the compression therapy market are deep vein thrombosis treatment, varicose vein treatment, leg ulcer treatment, and lymphedema treatment among. The surge in cases of varicose vein can draw patients towards compression therapy, thus can benefit the market in the near future.
Regional Analysis
In North America, the compression therapy market can be driven by the intense competition among different regional players. The need for innovation explains the high investment made by these key companies in the research and development, which can earn long-term high value for the regional market in the analysis period. As per MRFR regional assessment, the increase in cases of venous leg ulcers can impact the expansion of Europe compression therapy market. The rising omnipresence of venous ulcers patients as common chronic problem, especially in the North region, is creating need for compression therapy. The rise in geriatric patients count, along with the expansion of the aged-people populace are other factors that can influence the compression therapy market across the study period. In Asia Pacific, the expansion of healthcare sector and the adoption of disruptive medical technologies by different medical care providers are factors that are likely to be responsible for the high penetration of compression therapy in the region. The Middle East and Africa, can show steady rise in compression therapy market as per capita income is low in the region.
Key Players
Medtronic PLC, Cardinal Health, Inc., BSN Medical, Medi GmbH & Co. Kg, Paul Hartmann AG, Sigvaris, Sanyleg S.R.L., 3M, Bio Compression Systems, Inc., Smith & Nephew PLC., Tactile Medical, Convatec Inc., Getinge AB, Juzo, DJO Global Inc., and others are some reputed companies in the compression therapy market that are listed by MRFR.
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