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.
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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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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.
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On a regional
footing, there are abundant growth opportunities in North America
that accounted for 47.20% of the total market share in 2015. 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.
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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