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(MoneyNewsWire.Net, March 12, 2018 ) The global compression therapy market is projected to reach USD 3.40 Billion by 2022 from USD 2.70 Billion in 2017, at a CAGR of 4.7%. Factors such as the high adoption of rehabilitation/preventive care as a part of the long-term disease management strategy for venous diseases; rising prevalence of target diseases such as DVT, lymphedema, and varicose veins; commercialization of aesthetically superior compression stockings; and rising number of sclerotherapy-related surgeries are the key factors driving the growth of the market.
This report broadly segments the compression therapy market into product, technique, application, and region. On the basis of product, the market is categorized into compression garments (compression stockings, compression bandages & wraps, and other compression garments), compression pumps, and compression braces. In 2017, the compression garments segment is expected to account for the largest share of the market due to increasing number of sports injuries and growing number of plastic & aesthetic surgical procedures.
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On the basis of technique, the market is categorized into static and dynamic compression therapy. The static compression therapy segment is estimated to account for the largest market share in 2017. Availability of patient-friendly compression garments and procedural advantages in disease management are key factors driving the growth of the market.
Based on applications, the market is categorized into five segments, namely, varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The varicose vein treatment segment is expected to account for the largest market share in 2017. Rising incidences of obesity, age-related degeneration, and hypertension are major factors that increase the prevalence of varicose veins across the globe and stimulate market growth.
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This report covers the market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, North America is estimated to command the largest share of the market in 2017. The large share of the North American market can be mainly attributed to the presence of a number of compression therapy product manufacturers and growing prevalence of target conditions.
However, Asia-Pacific is expected to register the highest growth rate during the forecast period. This can primarily be attributed to the 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.
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The lack of universally accepted standards for compression products and lower patient compliance for compression garments are the key factors restraining the growth of the compression therapy market globally. The major players in the market are BSN medical (Germany), DJO Global Inc. (U.S.), medi GmbH & Co KG (Germany), Tactile Medical (U.S.), PAUL HARTMANN AG (Germany), and SIGVARIS (Switzerland). The other players in this market include Sanyleg S.r.l. (Italy), 3M Company (U.S.), ConvaTec Inc. (U.K.), ArjoHuntleigh (Getinge Group) (Sweden), and Julius Zorn GmbH (Juzo) (Germany).
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