Compression Therapy Market To Witness Remarkable Measured Growth Worth 3.40 Billion USD by 2022

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Northbrook, USA, 2020-Jan-27 — /EPR Network/ —

The global compression therapy market size is projected to reach USD 3.40 billion by 2022 from 2.70 billion in 2017, at a CAGR of 4.7% during the forecast period. Factors such as the growing target patient population, significant sports injuries & accidents across the globe, and technological advancements in the orthopedic industry are driving the growth of this market.

Compression Therapy Market By Region

However, the lack of universally accepted standards for compression products and lower patient compliance for compression garments are the key factors hindering the growth of the market. Analysis of the market developments between 2014 and 2017 (June) reveals that several growth strategies such as product launches, strategic acquisitions, agreements, partnerships, collaborations, and market expansions are adopted by the market players to strengthen their product portfolio and maintain a competitive position in the compression therapy market.

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In this report, the market has been segmented by product, technique, application, and region.

Based on product, the market is segmented into compression garments, compression braces, and compression pumps. The compression pumps segment is poised to grow at the highest CAGR during the forecast period, owing to factors such as increasing incidence of cancer, rising prevalence of chronic venous diseases, and clinical evidence supporting the therapeutic efficacy of IPC pumps.

On the basis of technique, the compression therapy market is segmented into static and dynamic compression therapy. The dynamic compression therapy segment is expected to be the fastest-growing segment of the market during the forecast period. Rising number of hip replacement surgeries globally (coupled with the increasing geriatric population and high prevalence of orthopedic diseases) and the higher incidence of target conditions such as DVT and lymphedema are the key factors driving the growth of the dynamic compression therapy segment.

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On the basis of application, the compression therapy market is segmented into varicose vein treatment, deep vein thrombosis (DVT) treatment, lymphedema treatment, leg ulcer treatment, and other applications. The varicose vein treatment segment is estimated to account for the largest share of the global compression therapy market in 2017. The large share of this segment is majorly attributed to the growing prevalence of varicose veins, high preference for compression therapy as the first line of treatment for varicose veins among healthcare providers, and procedural advantages offered by compression garments in the effective treatment of patients.

The Asia-Pacific region is expected to emerge as the new revenue-generating segment for prominent market players during 2017–2022. The growth of this market is attributed to the factors such as rising per capita healthcare expenditure across emerging Asian countries, rapid expansion in the target patient population, and growing awareness about the different target disorders among healthcare professionals through conferences. During 2014–2017, significant market players expanded their market presence to Asia-Pacific countries.

Scope of the Report

This report categorizes the global compression therapy market into the following segments and sub segments:

Compression Therapy Market, by Technique

  • Static Compression Therapy
  • Dynamic Compression Therapy

Compression Therapy Market, by Product

  • Compression Garments
  • Compression Stockings
  • Compression Bandages & Wraps
  • Other Compression Garments*
  • Compression Braces
  • Compression Pumps

Compression Therapy Market, by Application

  • Varicose Vein Treatment
  • Deep Vein Thrombosis Treatment
  • Lymphedema Treatment
  • Leg Ulcer Treatment

Compression Therapy Market, by Region

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • RoE
  • Asia-Pacific
    • Japan
    • China
    • India
    • ROAPAC
  • Rest of the World (ROW)

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