The global market for compression therapy is treading along a positive growth path on account of the rise in sports and strenuous activities. In compressive therapy, an elastic garment is clung to the body part to exert gradual compression on the limb. The treatment of muscular pain has found immense utility through these therapies that are easy to administer for both, the patient and the physician. As a large population endorses compression therapies. The demand within the market is expected to accelerate in the coming years. Health practitioners have found that there is greater compliance from patients when it comes to treatment through compressive therapies. Thereby, the rising investments in healthcare coupled with the willingness of the patients to resort to compressive therapies shall keep bolstering the growth prospects of the market.
The global market for compressive therapies is segmented based on the following parameters: product type, technology, and geography. The heterogeneity of treatments has given rise to various products types. The technologies used are undergoing constant innovation to devise the best products.
The report outlines several factors that lead to the progress of the market. With a view to offer a window to holistically analyze the market, the report backs each assertion with facts and figures. Moreover, the opportunities that rest in the market have been elucidated to help the market players in spotting the growth spaces. Market share, market value, and growth rate are some of the key performance indicators that have been highlighted in the report.
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Global Compression Therapy Market: Key Trends and Opportunities
Orthopedic problems have become a major concern for the medical fraternity. The success rate of compressive therapies in alleviating orthopedic disorders have been acknowledged by healthcare professionals. This is an important standpoint that drives the growth of the global market. Moreover, the uptake of sports and a propensity towards strenuous exercises has also been a prudent factor that propels demand for compressive therapies. Obesity is the root cause of a number of subsidiary problems and disorders within the human body. Since compressive therapies are extensively recommended to obese patients, the market is anticipated to gain a strong consumer base from these patients. Post-surgery activities prescribed by surgeons often include compressive therapies, which further enhances demand.
The prevalence of chronic diseases has placed a negative toll in the overall global health index. This calls for better treatments mechanisms. The hope offered by compressive therapies in relieving the prolonged ailments of patients would play a pivotal role in increasing demand within the market.
Global Compression Therapy Market: Regional Outlook
On a regional footing, there are abundant growth opportunities in North America that accounted for 47 % of the total market share in 2017. U.S. is a significant contributor to the bright prospects of the North American market because of the daunting obesity rates in the U.S. Europe has also shown sparks of excellence in the market with a total market share of 32.20% in the same year. Other key regions include Asia Pacific, the Middle East and Africa, and Latin America. The emerging economies of Asia Pacific offer tremendous growth opportunities due to a rising disposable income and an upward graph of healthcare development.
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Global Compression Therapy Market: Competitive Landscape
The market is highly fragmented that obstructs the entry of new players in the market. The functional players in the market are expected to resort to mergers, acquisitions, and strategic alliances in order to expand their geographical reach. The contemporary market players are Covidien plc, BSN Medical, SIGVARIS MANAGEMENT AG.,3M Health Care, ArjoHuntleigh, PAUL HARTMAN AG, Bio Compression Systems, Inc., and medi GmbH & Co KG.
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