The global compression therapy market is anticipated to grow from an estimated USD 2,377.8 million in 2014 to USD 3,232.3 million by 2020 at a CAGR of 5.2% during the forecast period.
Albany, NY -- (SBWIRE) -- 09/28/2015 -- Compression therapy is a procedure entailing the delivery of an external force to tired and aching legs and other relevant anatomical targets where compression is required for management. This therapy is used to treat venous and lymphatic diseases, such as lower limb edema, venous eczema, deep vein thrombosis, and diabetic foot ulcers.
Compression can be achieved by using garments such as bandages and stockings. These compression garments prevent blood from pooling in the legs, which, in turn, helps improve blood circulation. Compression garments are designed to apply differing amounts of pressure to various parts of the leg.
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Increasing prevalence of diabetes, growing aging population, high incidence of sports injuries, rising awareness about various venous diseases, and the advanced features of compression therapy garments and devices are the major drivers of the global compression therapy market. On the other hand, inadequate reimbursement policies and risk of complications associated with compression therapy devices are some of the major restraints for the compression therapy market.
In terms of geography, North America dominates the compression therapy market, followed by Europe. This is due to increasing number of sports injuries and a growing aging population in the region. According to Safe Kids Worldwide, a global organization dedicated to preventing injuries in children, every year about 1.3 million cases of sports injuries among youngsters are registered in the U.S. Moreover, increasing prevalence of diabetes and rising obesity are also supporting the growth of compression therapy market in North America.
The compression therapy market in Europe is expected to witness moderate growth attributable to rising incidence of sports injuries in the region. In Europe, Germany, France, the U.K., Italy, and Spain account for the majority share of the compression therapy market. The compression therapy market is expected to expand at a significant rate over the next few years. This is due to the rising number of sports injuries in various countries, such as India, and especially the Southeast Asian countries. Moreover, a growing aging population and increasing prevalence of diabetes are also supporting the growth of compression therapy market in the region. India, China, and Japan are expected to be the fastest-growing markets for compression therapy in Asia.
This report provides in-depth analysis and estimation of the compression therapy market for the period from 2014 to 2020, considering 2014 as the base year for calculation. In addition, data pertaining to current market dynamics, including market drivers, restraints, trends, and recent developments, have been provided in the report. The compression therapy market is categorized based on static compression therapy, dynamic compression therapy, and geography. Based on static compression therapy, the market is further categorized into compression bandages, compression garments, diabetic shoes, and others. Based on dynamic compression therapy, the report comprises non-segmented pneumatic pump and segmented pneumatic pumps. On the basis of geography, the report identifies and analyzes the market size and predictions for North America, Europe, Asia, and the Rest of the World (RoW).
Some of the major players in the compression therapy market are SIGVARIS, BSN medical GmbH, PAUL HARTMANN AG, Julius Zorn GmbH, ArjoHuntleigh, THUASNE, Smith & Nephew plc, medi GmbH & Co. KG, and Medtronic plc. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
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