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Big Boom in Compression Therapy Market is growing at a CAGR of 5.2% in forecast period with major key players in the market Medi GmbH & Co., Paul Hartmann AG, Julius Zorn GmbH, Arjo Huntleigh, SIGVARIS
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The global compression therapy market size was valued at USD 3.9 billion in 2019 and is expected to witness a lucrative CAGR of 5.2% over the forecast period.
Compression therapy involves wearing socks, stockings, or elastic garments intended to contain & support veins to increase blood circulation in legs. It is used for treatment of leg swelling and discomfort and provides improved circulation for restoration of normal leg function. The compression stockings enable reduction of vein cavity and decreases venous pressure thereby preventing venous stasis and impairment of venous walks.
Static technology dominated the technology segment in 2019 owing to the high convenience and user-friendly attributes of this technology. The sizable share garnered by this segment is attributable to greater accessibility of these products in treating edema and sports-related injuries to enable pain and pressure relief. Benefits associated with static technology are also believed to drive the inclination of patient as well as physicians, thus accounting for a dominant share.
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The North America captured dominant share of the overall Compression Therapy Market in 2019. Growing geriatric population and high incidence of chronic venous disorders and obesity is responsible for the share attained by this region over the previous years. Presence of favorable government reimbursement plans and growing healthcare awareness levels are also key growth contributor factors across this region.
Some of the key players in Compression Therapy Market are Medi GmbH & Co., Paul Hartmann AG, Julius Zorn GmbH, Arjo Huntleigh, SIGVARIS, Medtronic Plc, and BSN Medical GmbH. These players are deploying regional & distribution channel expansion, new product development and collaborative strategies to gain a greater share of the market.
Key Segments of compression therapy market are:
o Technology Outlook (Revenue, USD Million, 2020 - 2027)
o Static Compression Therapy
o Dynamic Compression Therapy
o Product Outlook (Revenue, USD Million, 2020 - 2027)
o Compression Pumps
o Compression Stockings
o Compression Bandages
o Compression Tapes
o Regional Outlook (Revenue, USD Million, 2020 - 2027)
o North America
o U.S.
o Canada
o Europe
o UK
o Germany
o France
o Asia Pacific
o Japan
o China
o India
o Latin America
o Brazil
o Mexico
o Middle East & Africa
o South Africa
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