Kenneth Research recently added a report on ‘Compression Therapy Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Compression Therapy Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 2025. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
The global Compression Therapy Market was valued at USD 2.33 billion in 2016 and is projected to reach USD 3.37 billion by 2025, growing at a CAGR of 4.2% from 2017 to 2025.
Compression therapy is basically known to work on two principles, which are increased pressure and temperature control. The Highest demand of the devices offering compression therapy is seen in sports and athletics. The Market is seeing rise because of increasing sport and fitness activities all over globe and also because of larger share of older age group in the entire population.
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1. Market Drivers
1.1 Large count of targeted patients
1.2 Growingnumber of sport injuries and accidents
1.3 Growing technological developments in orthopedics
1.4 Better results with Compression therapy with clinical evidences
2. Market Restraints
2.1 Lack of universally set standards for Compression products
2.2 Less support of patients
1. Global Compression Therapy Market, by Product:
1.1 Compression Garments
1.1.1 Compression Stockings
1.1.2 Compression Bandages & Wraps
1.1.3 Other Compression Garments
1.2 Compression Pumps
1.3 Compression Braces
2. Global Compression Therapy Market, by Application:
2.1 Varicose Vein Treatment
2.2 Deep Vein Thrombosis Treatment
2.3 Lymphedema Treatment
2.4 Leg Ulcer Treatment
2.5 Other Applications
3. Global Compression Therapy Market, by Technique:
3.1 Static Compression Therapy
3.2 Dynamic Compression Therapy
4. Global Compression Therapy Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. 3M Company
2. Medtronic PLC
3. Bio Compression Systems, Inc.
4. BSN Medical
5. Medi GmbH & Co. Kg
6. Paul Hartmann AG
7. Smith & Nephew PLC.
8. Cardinal Health, Inc.
10. Sanyleg S.R.L.
11. Tactile Medical
12. Convatec Inc.
13. DJO Global Inc.
14. Arjohuntleigh (Subsidiary of Getinge Group)
15. Julius Zorn GmbH
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Compression Therapy Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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