Global Compression Bandages Market to Gain Impetus from Increasing Number of Chronic Diseases | Fortune Business Insights

As per the National Institutes of Health, venous ulcers account for almost 70 to 90% cases of all lower leg ulcers. This creates the need for compression or tensor bandages. The rising incidences of major and minor injuries is propelling the growth of the global compression bandages market, says Fortune Business Insights in their new report. The report is titled,” Compression Bandages Market Size, Share and Global Trend by Product (Handheld Compression Bandages, Compression Bandages with Built-In Printers, Others), by End User (Hospitals, Clinics, Others) and Geography Forecast till 2027.”

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Some of the key players in the Global Compression Bandages Market:

• Andover Healthcare
• Mölnlycke Health Care AB
• PAUL HARTMANN AG
• Smith & Nephew
• Cardinal Health
• BSN Medical
• Beiersdorf AG
• ConvaTec Inc.
• 3M
• Baxter International Inc

As per the study, the diabetic foot ulcer segment is anticipated to lead the global market in the forecast duration on account of the rising prevalence of diabetes and increasing demand for compression bandages which helps in edema management.

REPORT COVERAGE:

The Compression Bandages Market report offers an in-depth analysis of the Compression Bandages industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Compression Bandages market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Compression Bandages Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The Report offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Compression Bandages market to figure out and study the market’s needs, market size, and competition.

Key Segmentation:

By Product
• Short Stretch Bandages
• Long Stretch Bandages
• Multilayer Compression Bandages

By Material
• Polyster
• Latex
• Cotton
• Others

By Application
• Wound Management
• Deep Vein Thrombosis (DVT)
• Lymphedema
• Others

By End-user
• Hospitals & Ambulatory Surgical Centers
• Clinics
• Nursing Care Centers & Skilled Nursing Facilities
• Home Care
• Others

By Country
• UK
• Germany
• France
• Italy
• Spain
• Sweden
• Netherlands
• Switzerland
• Poland
• Ukraine
• Portugal
• Rest of Nordic
• Rest of Europe
DRIVING FACTORS:

Innovation in Compression Bandages by Various Companies Boosting Market

Major developments in the company includes innovative product launches that will not only bode well for patients in pain but also generate huge revenues for the global market. To cite an example, the company SIGVARIS announced the launch of three compression bandages that are inelastic in nature in February 2018. The product names of these three new inelastic compression bandages are COMPREFLEX REDUCE,COMPREFLEX ARM and COOLFLEX NF.

Another instance anticipated to attract more attention to the market is that engineers at the American University of MIT announced in May 2018, that the designing of compression bandages can change colors in order to signal the level of pressure of the wound covered. Such inventions are likely to bode well for the global market during the forecast period.

Rising Prevalence of Diabetes and Obesity to Drive Market

Compression bandages are stretchable in nature and are often used as the first line of treatment for many medical conditions such as trauma, ischemic ulcers, venous leg ulcers, wound management, lymphedema, and others. The rise in number of such incidences is a major factor propelling the global market.

The American Diabetes Association (ADA) estimated about 1.5 million people to be diagnosed with diabetic foot ulcer annually. Hence, the rising prevalence of diabetes and obesity are considered major growth drivers for the market.

However, the rise in popularity of gauze wraps and self-adherent bandages may hamper the market in the coming years. Nevertheless, the safety and affordability of compression bandages are likely to generate more revenue in the future.

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Asia Pacific to Register as Fastest Growing Region with Reference to Affordability and Safety that Compression Bandages Offer

Geographically, the North American market is dominating the current compression bandages market. The increasing number of minor incidents and chronic diseases is propelling demand for first line medical treatment, hence the need for compression bandages arrives. This is boosting the North American market in future as well. In addition to that, governments of developed nations namely Canada, and the U.S., provide favorable reimbursement policies to its citizens, which in turn is also driving the regional market. Furthermore, the presence of strong and well-established players in North America is anticipated to help the regional market continue its dominance over the next years as well.

The Asia Pacific market for compression bandages is anticipated to emerge as the fastest growing market in the forecast duration. This is attributable to the rising adoption of various options available for treating venous leg. The rise in prevalence of diabetic patient population, coupled with, the surging demand for affordable treatment options is boosting the Asia Pacific market. Furthermore, the rise in disposable incomes of people has propelled them to opt for better healthcare and medical options available and this is envisioned to help Asia Pacific emerge as the fastest growing sector in the coming years.

The COVID-19 pandemic has caused huge losses for several companies by halting their manufacturing processes. The governments of various companies are persistently striving to prevent the transmission of coronavirus by promoting social distancing and sanitization measures. Our reports would help you in gaining more insights into the effects of COVID-19 on every market.

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You can Find an In-depth Analysis on “Diabetic Foot Ulcer Treatment Market” by Dr Daniel Stewart Here: https://www.linkedin.com/pulse/telemedicine-promising-technology-healthcare-industry-stewart/

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