NEW YORK, Aug. 28, 2017 /PRNewswire/ -- 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%. The factors driving the growth of the compression therapy market include the growing target patient population, significant sports injuries & accidents across the globe, and technological advancements in the orthopedic industry. However, 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 compression pumps segment is expected to witness the highest growth rate during the forecast period."
During the forecast period, compression pumps are expected to grow at the highest CAGR. Factors such as the increasing incidence of cancer, rising prevalence of chronic venous diseases, and growing number of hip and knee surgeries are expected to drive the growth of the compression pumps market during the forecast period.
"The lymphedema segment to grow at the highest CAGR during the forecast period."
On the basis of applications, the lymphedema treatment segment is estimated to grow at the highest CAGR during the forecast period. The growing adoption of compression therapy for lymphedema treatment is attributed to the rising patient population for primary and secondary lymphedema, coupled with the increasing patient preference for compression therapy in lymphedema treatment (owing to the clinical benefits offered by compression therapy products).
"Asia-Pacific is expected to register the highest growth rate during the forecast period."
Geographically, the compression therapy market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to register the highest growth rate during the forecast period, owing 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.
Breakdown of supply-side primary interviews: by company type, designation, and region:
• By Company Type - Tier 1 – 25%, Tier 2 – 30% and Tier 3 – 45%
• By Designation – C-level – 26%, Director Level – 30%, Others – 44%
• By Region – North America - 34%, Europe – 26%, APAC – 23%, RoW – 17%
In 2016, the global compression therapy market was dominated by BSN medical (Germany), DJO Global Inc. (U.S.), medi GmbH & Co KG (Germany), Tactile Medical (U.S.), PAUL HARTMANN AG (Germany), and SIGVARIS (Switzerland). Product launches, agreements, and collaborations were the major strategies adopted by market players to achieve growth in the market.
This report studies the compression therapy market based on product, technique, and application. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for the market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the compression therapy market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn help firms garner greater market shares. Firms purchasing the report could use anyone or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the major players in the compression therapy market. The report analyzes the compression therapy market based on product, technique, application, and region
• Product Development: Detailed insights on the research and development activities and product launches in the compression therapy market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various compression therapy products across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the compression therapy market
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