Compression Therapy Market Research Report Forecast to 2024
Currently, the global compression therapy market is highly fragmented on account of the presence of numerous local and global companies. To gain a competitive edge, astute players are resorting to mergers and acquisitions and collaborations. They are also increasing focusing on the relatively untapped markets in Asia Pacific. Further, entry barriers to new players in the market is relatively low on account of lack of proper regulations for the commercialization of products and forward integration by raw material suppliers.
Transparency Market Research forecasts the global market for compression therapy to expand at a CAGR of 5.3% from 2016 to 2024 to attain a value of US$4.24 bn by 2024 from US$2.69 bn in 2015.
This 84 page report gives readers a comprehensive overview of the Compression Therapy Market. Browse through 31 data tables and 17 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/compression-therapy-market.html
Depending upon the technology leveraged, the global compression therapy market can be bifurcated into static and dynamic. Of the two, the static compression products holds out a strong promise of growth. This is because static garments are preferred more by doctors for patient care on account of clinical evidence supporting them. Patients also prefer static compression hosiery as they are crafted from comfortable materials and impart a better look. Other factors leading to their swift uptake is their affordability and easy availability.
The different types of compression therapy products available in the market are compression pumps, compression tapes, compression stocking, and compression bandages. Compression pumps can be further segmented into intermittent and sequential. Similarly, compression stocking can be classified further into gradient and anti-embolism. Of these, bandages hold a sway over the market. In 2015, it held a whopping 43.1% of the market.
Get accurate market forecast and analysis on the Compression Therapy Market. Request a sample to stay abreast on the key trends impacting this market: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1537
From a geographic standpoint, North America spells maximum opportunity in the global market for compression therapy. It accounted for almost 47.2% of the market in 2015 and was trailed by Europe, with a 32.2% share. The market in the U.S. provides ample room for growth on account of the widespread prevalence of obesity that ups the risk of vascular diseases. As per the American Academy of Orthopedic Surgeons (AAOS), around 600,000 knee arthroplasty surgeries were conducted in the U.S. in 2010 and by 2030 the number is slated to exceed 3 million.
Besides North America and Europe, Asia Pacific and Latin America are other key markets that hold out strong promise of growth on account of widespread unmet demands. The countries of Brazil, Mexico, South Korea, China, and India will help to power maximum growth in the regions. Other factors stimulating the market in Asia Pacific are rising investment in healthcare infrastructure, growing disposable income, and higher occurrence of chronic ailments.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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