The study on the global market for Compression Therapy evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market for Global Compression Therapy significantly. The expansion in the various related industry is also expected to reflect positively on the sales of Global Compression Therapy product over the next few years.
Compression therapy is rapidly emerging as a non-drug alternative to medication for patients with blood circulation issues and sportspersons looking to maximize their training and stay in peak form. It is particularly suitable for the elderly population where other options of treatment of therapy may not be as effective. Leading biomedical and biotechnology players are constantly innovating to bring novel solutions based on compression therapy to the market.
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The global compression therapy market is garnering momentum and it is set to experience notable growth in the coming years. Future developments in the industry will largely be driven by the occurrence of numerous chronic diseases worldwide as well as the presence of a large elderly population base.
Compression therapy make use of controlled pressure to improve blood flow in the lower limbs and increase the flow of blood to the heart. It, at the same time, supports the patient’s veins and reduces swelling, resulting in faster recovery from injuries such as fractures, sprains, or tears.
In terms of the product landscape, the global compression therapy industry is classified into compression braces, compression garments, compression pumps, and compression tapes. Compression braces had accounted for a revenue share of around US$547 million during 2020 and their demand is likely to grow at a CAGR of around 4.8% through 2027. They are highly effective in alleviating acute as well as chronic pain and improving the ability to perform in sports, training, and other forms of physical activity.
The global compression therapy industry, on the basis of technology, can be bifurcated into static and dynamic therapy. The dynamic compression therapy market size was estimated to be worth US$356 million in 2020 and will expand at a 5.1% CAGR up to 2027. The technology is known to deliver long-term therapy and sustained effect to patients, enabling faster recovery and improved outcomes.
The different applications of compression therapy include deep vein thrombosis treatment, lymphedema treatment, varicose vein treatment, and leg ulcer treatment, among others. The global compression therapy industry share from leg ulcer treatment application was valued at about US$164 million in 2020 and is projected to record a healthy 5% CAGR over 2020-2027. This growth will be largely driven by the increasing occurrence of venous leg ulcers.
Different types of compression therapy methods are known to provide improved healing of leg ulcers as well as prevention of leg ulcers from coming back. Geographically, the compression therapy industry in the Middle East and Africa was estimated to be worth US$105 million in 2020 and will expand at a CAGR of nearly 5% through 2027. The regional trends can be mainly associated with ongoing research activities for the development of novel products and therapeutic solutions for several diseases and injuries.
Analysis of regional landscape:
- Based on geographical terrain, the Compression Therapy market is segmented into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
- A performance summary of each region..
- Insights into the total sales, growth rate, and revenue generated by each geography is provided.
Key Questions Answered in Compression Therapy Market Report:
- What is the size and CAGR of the global Market?
- What are the key driving factors of the most profitable regional market?
- Which are the leading segments of the global market?
- How will the global market advance in the coming years?
- What are the main strategies adopted in the global market?
- What is the nature of competition in the global market?
Summary of the regional outlook documented in this report:
- Consumption pattern and consumption rate with respected to each region.
- Predicted consumption rates over the forecast period.
- Market forecasts of key regions are detailed in the report.
- Consumption market share solely based on the regional contribution.
- Market share held by the listed geographies.
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