TechNavio recognizes the following companies as the key players in the Global Compression Therapy Market: 3M Healthcare Ltd., BSN Medical GmbH, Covidien plc, Sigvaris Inc., and Smith & Nephew plc
Commenting on the report, an analyst from TechNavio’s team said: “Vendors in the Global Compression Therapy market are adopting product bundling strategies, where two or more products or services are combined together to achieve product differentiation and to provide better product offerings. Moreover, patients prefer such packaged offerings to individual products because they are cost effective. Thus, along with elastic stockings, compression bandages, and elastic wraps, vendors are offering ready-to-wear leg wear. This marketing strategy has helped several vendors to gain a competitive advantage over other vendors. This trend is expected to have a strong impact on the market in the future. ”
According to the report, one of the major drivers is the increase in the aging population. The increase in the aging population results in the increasing prevalence of chronic wounds such as pressure ulcers, diabetic ulcers, and venous ulcers.
Further, the report states that the market is highly fragmented with the presence of numerous vendors with significant market shares. These vendors range from large corporations, which produce a broad range of advanced high-end compression therapy products on a worldwide scale, to small and medium-sized companies, which concentrate on a single product line in a specific geographic region. The leading vendors are currently operating on less profit because of intense competition. Moreover, there is severe pricing pressure, which leads to a reduction in vendors’ margins. Thus, intense competition among vendors is a major challenge faced by the market, and it is expected to pose a strong challenge to the market growth during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-compression-therapy-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Compression Therapy Market 2012-2016
