Compression Therapy Market to Clock CAGR of 6.1% from 2019 to 2027, Use of Therapy among Athletes to Promote Recovery from Injuries on Rise, Says TMR
- Growing clinical potential of compression therapy in vascular disease treatment notably in venous leg ulcers to spur growth, market to reach US$ 5,157.4 Mn by 2027-end and demand for static compression products high
- Asia Pacific to expand at an impressive CAGR during 2019 - 2027, growth underpinned by prevalence of vascular diseases
ALBANY, N.Y., Nov. 10, 2020 /PRNewswire/ -- Rise in clinical potential for managing sports injuries among athletes and sports persons is one of the key avenues for players in the compression therapy market. The therapy has also become a mainstay of treatment in a number of vascular diseases, particularly venous leg ulcers.
Rise in orthopedic surgeries and favorable reimbursement policies in vascular disease treatment has set the pace for the expansion in the compression therapy market.
The valuation of the compression therapy market stood at US$ 3.2 Bn in 2018 and is projected to clock CAGR of 6.1% from 2019 to 2027. Growing demand in people with sports injuries will expand the avenue for market players. By 2027, the global valuation is expected to touch US$ 5,157.4 Mn.
Compression Therapy Market: Key Driving Factors and Promising Avenues
The high rate of hospitalization from sports injuries in athletes and others is a key driver for the demand in compression therapy market. Rise in population participating in sports in various parts of the world has also been imparting growth impetus.
Growing clinical potential of compression therapies in amateur and professional sport patients is boosting the growth of the market.
Rising epidemic of obesity has propelled the number of people with vascular diseases. The increase in risk of vascular diseases, including venous ulcers, lymphedema, and deep vein thrombosis, has also fueled the prospects in the compression therapy market.
Prevalence of orthopedic surgeries has also boosted the use of compression therapy to aid recovery. Particularly, the therapy has shown to be effective in speeding up healing, reducing swelling and inflammation, and decreasing chronic pain.
Growing clinical potential of newly developed compression therapy products will open up new avenues in the market
Proliferating demand for static compression products spur the growth of the market.
Explore 84 pages of top-notch research, incisive insights, and detailed country-level projections on Compression Therapy Market (Technology - Static and Dynamic; Product - Pumps (Intermittent and Sequential), Bandages, Stocking (Gradient and Anti-Embolism), and Tapes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/1537
Compression Therapy Market: Regional Assessment
On the regional front, North America held the dominant share in 2018 in the global compression therapy market. Prevalence of vascular diseases has spurred the adoption of compression therapies. Further, constant research on compression therapies for sports injuries in the regional market has also cemented the potential of the regional market.
Asia Pacific is emerging as a remarkably lucrative regional market. The growth is expected to be more attractive than either North America or Europe. Rapidly aging population is some of its economies and the rapidly growing awareness of the static compression products have helped in the expansion of opportunities.
The competitive landscape is increasingly fragmented, mainly due to the presence of several players. Several players are expanding their research in the utility of compression products in athletic performance. In coming years, the entry of new players is expected to up their ante for incumbent players.
Several players are relentlessly working on making frequent launches in technologically advanced products. Some of the promising players in the compression therapy market are SIGVARIS Management AG, medi GmbH & Co KG, Covidien plc, BSN Medical, Bio Compression Systems, Inc., ArjoHuntleigh, and 3M Health Care.
The Compression TherapyMarket has been segmented as follows:
Global Compression Therapy Market, by Technology
Global Compression Therapy Market, by Product
Global Compression Therapy Market, by Region
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Varicose Vein Treatment Market: As per the study, the global varicose vein treatment market was valued at ~US$ 1.5 Bn in the year 2018 and is projected to increase at a CAGR of ~4.7% over the forecast period, increase in awareness about varicose veins and rise in the prevalence of varicose vein and related venous diseases are anticipated to boost the growth of the global market
Vascular Closure Devices Market: According to the report, the global vascular closure devices market was valued at US$ 0.8 Bn in 2018 and is projected to expand at a CAGR of ~7% from 2019 to 2027. Vascular closure devices are a new technology that is paving the way to new arenas in interventional surgery. Prior to the adoption of vascular closure devices, mechanical and manual compression techniques were utilized to facilitate access site hemostasis.
Radial Artery Compression Devices Market: The global radial artery compression devices market is expected to grow at a healthy CAGR of ~8% during the forecast period. The market growth can be primarily attributed to a plethora of factors, including improved patient safety & comfort, a significant rise in the global aging population, lower post-procedural complications, and research & development activities.
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