The compression therapy market is estimated to observe considerable growth opportunities during the forecast period of 2019-2027.
The compression therapy market is estimated to observe considerable growth opportunities during the forecast period of 2019-2027. The growing incidences of medical injuries among fitness enthusiasts, athletes, and sportspersons are adding value to the growth of the compression therapy market.
Compression products are generally used by many fitness freaks and athletes to decrease body pain, improve athletic performance, and increase mobility. Thus, the associated advantages with these products will bring substantial growth for the compression therapy market.
Research and development activities play a vital role in the overall growth of the compression therapy market. The players invest largely in these activities for deriving good insights and to add various features to the devices. All these factors ultimately lead to better revenues and increase the growth rate of the compression therapy market.
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Strategic collaborations have an important part in the growth of the compression therapy market. The players indulge in mergers, acquisitions, joint ventures, and partnerships for strengthening their influence across the compression therapy market. The players also expand their production capacities to assure seamless distribution to all the end-user industries. Thus, these factors assure considerable growth for the compression therapy market.
In this study, the compression therapy market has been segmented into compression pump (intermittent and sequential), compression bondage, compression stocking, and compression tape. Static and dynamic are the technology types.
Transparency Market Research’s (TMR’s) report on the compression therapy market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on compression therapy by TMR suggests a stable growth period.
According to the TMR experts, the market for compression therapy is prognosticated to expand at 6.1% CAGR during the forecast period of 2019-2027. In the context of valuation, the compression therapy market is estimated to reach a valuation of US$ 5,157.4 Mn by 2027 and stood at US$ 3,067.3 Mn in 2018.
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Rising Number of Orthopedic Surgeries to Drive Growth of Compression Therapy Market
The number of orthopedic surgeries performed around the world has increased extensively over the years. Orthopedic procedures such as spinal fusions, knee construction, partial hip replacement, and other techniques are gaining considerable traction. The expanding popularity of spinal surgeries will add value to the compression therapy market growth trajectory. They assure reduced swelling, faster healing, and inflammation. These aspects bode well for the growth of the compression therapy market.
Static Technology Segment to Observe Dominating Stance
Static compression is one of the preferred products used by healthcare professionals due to easy availability. The static segment dominated the global market for compression therapy in 2018 and a similar trend is estimated to continue during the forecast period. Thus, all these factors bring substantial growth avenues for the compression therapy market.
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North America to Emerge as Largest Growth-Generating Region
The compression therapy market in North America is expected to emerge as a dominant growth contributor during the forecast period. The growing prevalence of vascular diseases such as lymphedema, venous ulcers, deep vein thrombosis, and others will bring good growth prospects for the compression therapy market in North America.
Asia Pacific is also estimated to expand at a high CAGR during the forecast period of 2019-2027. The increasing geriatric population in countries such as Singapore, Japan, and China has boosted the demand for reliable and accurate compression therapy products. In addition, the expanding healthcare infrastructure and the rising disposable income in numerous countries are expected to bring promising growth.
Some well-entrenched players in the compression therapy market are SIGVARIS MANAGEMENT AG,. Bio Compression Systems, Inc., 3M Health Care, Covidien plc, medi GmbH & Co KG, and ArjoHuntleigh.
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