Compression Therapy Market Revenue and Value Chain 2015-2025
Compression Therapy is a process of applying external pressure to the limbs or other parts of the body through which different chronic disease can be treated. Compression therapy is a very effective technique for disease indication such as, Deep Vein Thrombosis (DVT), Venous Thrombolism (VTE), Varicose Veins, Lymphedema, Chronic and Diabetic Ulcers.
A gradual pressure is being given to infected area or the veins which in turn increases the blood flow in the veins, increases the drainage of nocious substances, reduces pain and inflammation.
A common myth prevailing among people is that compression bandages and clothes hinder the blood circulation but in reality these products are designed in such a way that when applied properly they assist in blood flow.
The annual incidence of DVT is around 1 per 1000 people. As per Centers for Disease Control and Prevention (CDC), around 60,000-100,000 patients have DVT in United States.
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Compression Therapy Market: Drivers and Restraints
Compression therapy market is driven by aging population, high incidence of disease indications, rising awareness among patients and ease of application and durability of the products.
Other factors include regular product training to physicians that helps them to better understand the product and use of fancy garment to manufacture stockings and bandages.
Lack of knowledge about the disease indication among patients and inadequate reimbursement for compression therapy products from government agencies in developed countries will slow down the market in the forecast period.
Compression Therapy Market: Segmentation
Global Compression Therapy Devices is further segmented into these following types:
- Static Compression Therapy
- Compression Garments
- Upper Compression Garments
- Lower Compression Garments
- Compression Bandages
- Anti-Embolism Stockings
- Diabetic Shoes
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- Diabetic Compression Socks
- Dynamic Compression Therapy
- Segmented Compression Pumps
- Non-Segmented Compression Pumps
- Compression Sleeves
Compression Therapy Market: Overview
With the advancement of technology and increase incidence in disease population, compression therapy is gaining wide acceptance as a method of choice among patients. This market is expected to grow at a healthy CAGR in the forecast period (2015-2025)
Advances in garments, textile technology, compression stockings, and bandages aimed at improving patient comfort are expected to drive the market in the forecast period.
Compression Therapy Market: Region-wise Outlook
Depending on geographic regions, global compression therapy market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
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In terms of geography, North America dominates the compression therapy market, followed by Europe. Growing aging population and increasing prevalence of diabetes are also supporting the growth of compression therapy market in this regions. India, China, and Japan are expected to be the fastest-growing markets for compression therapy in Asia.
Compression Therapy Market: Key Players
Some of the key players in compression therapy market are SIGVARIS, BSN medical GmbH, Covidien Plc. PAUL HARTMANN AG, 3M Co., ArjoHuntleigh, Thuasne SA, Smith & Nephew plc and medi GmbH & Co.