Global Pneumatic Compression Therapy Market to Surpass US $670 Mn in Revenues by 2025
The global pneumatic compression therapy market is projected to expand at a CAGR of 6.6% in terms of value during the forecast period.
Albany, NY -- (SBWire) -- 10/05/2017 --Increasing prevalence of varicose vein disease and growing emphasis on health and wellness in developing countries is boosting the growth of Global Pneumatic Compression Therapy Market globally. Global revenues are projected to rise at a steady CAGR during the forecast period 2017 to 2025. These insights are according to a new report added to the repository of Market Research Reports Search Engine (MRRSE). The report is titled, "Global Market Study on Pneumatic Compression Therapy: Pneumatic Compression Sleeve Segment Anticipated to Remain the Most Lucrative Segment by Product Type During 2017-2025". According to the report, the global pneumatic compression therapy market will surpass US$ 670 Mn in revenues by 2025-end.
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Growing adoption of pneumatic compression sleeves and favorable reimbursement for pneumatic compression therapy will continue to boost the prospects of this market during the forecast period. Focus on developing healthcare infrastructure in developing countries is also contributing to the growth of the market.
Innovation in compression products is a key factor that is likely to have a bearing on the growth of this market during the forecast period. Currently, manufacturers are looking to diversify end-use applications so that scope of the research is extended.
On the basis of product, pneumatic compression sleeves will continue to account for leading revenue share. This segment accounts for over half of global revenues by product type, and the trend is expected to remain so during the forecast period. Valued at over US$ 200 mn, the pneumatic sleeves segment is projected to grow at over 7% CAGR during the forecast period.
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By distribution channel, the key segments include hospitals, e-commerce, and clinics. Hospitals remain the dominant channel for pneumatic compression therapy globally, followed by clinics and e-commerce. A notable development in the field of pneumatic compression therapy has been the sale of products through online channels. This is likely to open new opportunities for the growth of the market during the forecast period.
North America remains one of the most lucrative regions for the growth of global pneumatic compression therapy market. The market in North America is likely to grow at over 6% through 2025 and rake in over US$ 450 mn in revenues. Leading players in the global pneumatic compression therapy market include Medtronic, ArjoHuntleigh (Getinge AB), Tactile Medical, Talley Group Limited, Medline Industries, Inc., DJO Global, Inc., Bio Compression Systems, Inc., XIAMEN SENYANG CO., LTD, Mego Afek ltd., Devon Medical Products, EUREDUC, and Bösl Medizintechnik. The leading players in this market are focusing on product innovation and M&As to consolidate their position in the market.
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