Technavio, a tech-focused market research firm, has published a new report on the global compression therapy market, which is expected to grow at a CAGR of more than 5% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global compression therapy market into the following key regions: The Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global compression therapy market are elaborated below
Compression therapy market in Americas: The market for compression therapy in the Americas is driven by the growing incidence of various conditions such as diabetes, DVT, and PE. The developed countries such as the US are increasingly adopting pneumatic compression pumps, which are more effective than the compression bandages.
According to Barath Palada, a lead analyst at Technavio, specializing in research on cardiovascular and metabolic disorders, “Vendors in the market are pursuing inorganic growth strategies such mergers and acquisitions to broaden their offerings. BSN Medical, for instance, completed the acquisition of Wright Therapy Products in November 2015 to expand its product line to pneumatic compression therapy segment.”
Compression therapy market in EMEA: Rising awareness coupled with the region’s established healthcare infrastructure is the fundamental driving force behind the growth of the compression therapy market in EMEA. Developed economies such as the UK, Spain, Italy, Germany, and France account for a majority of the demand for compression pumps in this region.
Compression therapy market in APAC: The compression therapy market in APAC is dominated by countries like Australia and Japan. The rising incidence of chronic conditions such as diabetes and VTE coupled with recent product launches are anticipated to reflect positively on the market for compression therapy in APAC during the forecast period.
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Leading vendors operating in the global compression therapy market are:
- 3M
- BSN Medical
- Getinge
- Medtronic
- SIGVARIS
Other prominent vendors in the market include Adidas, Bio Compression Systems, ConvaTec, Devon Medical Products, ElastiMed, FlowAid Medical Technologies, IntelliSkin, Kinesio, KT Health, Laboratoires Innothera, Medical Compression Systems, Nike, PAUL HARTMANN, Smith & Nephew, Tactile Systems Technology, Thuasne, VERT, Zensah, and Zimmer-Biomet.
A more detailed analysis is available in the Technavio report titled, ‘Global Compression Therapy Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Lifestyle Drugs Market 2017-2021
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