Competitive Scenario: Compression Therapy Market Revenue, Growth Rates, and Industry Challenges in 2027
Pune, New York, USA, November 27 2020 (Wiredrelease) Research Dive –:Global compression therapy market is expected to garner a massive growth in the upcoming years. Sports injuries is the main influencing factor behind the growth of the market. Compression garment will be the most lucrative. Lymphedema will be the most beneficial. Clinic segment will earn the highest revenue. North America will dominate the market.
Research Dive has recently published a report entitled “Compression Therapy Market, by Product (Garment, Braces, Pump), Application (Varicose Vein Treatment, Deep Vein Thrombosis Treatment, Lymphedema Treatment, Leg Ulcer Treatment, Others), End-User (Clinic, Pharmacy, E-Commerce, Ambulatory Surgical Center, Home Care Setting): Global Opportunity Analysis and Industry Forecast, 2020–2027”
The global compression therapy market is anticipated to garner a revenue of $4620 million at a CAGR of 4.80% during the forecast period.
North America is going to dominate the market during the forecast period because of the presence of a large number of leading manufacturers of the industry in this region.
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Key Segments of the market
The report has divided the market based on product, application, end-user, and regional outlook.
– In the product segment, compression garment will be the most lucrative. The compression garment is estimated to dominate the market shares as it is most commonly used in a variety of symptoms, such as varicose veins, edema, DVT, and lymphedema, as well as other health diseases.
– By application, lymphedema segment will be the highest profitable. This is because of the rising lymphedema cases and high demand for compression therapy products for treating and controlling lymphedema.
– By end-users, the clinic segment will earn the highest revenue. The healthcare practitioners are constantly promoting the use of innovative technologies in compression therapy, which is expected to enhance the growth of the segment.
Athletes and sportspeople use compression therapy as they minimize muscle pain, enhance strength, and improves athletic performance. Healthcare practitioners use compression therapy products regularly for amateur and professional sports patients, as well as for their daily clinic patients. These are the factors behind the growth of the compression therapy market.
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Inadequate reimbursement policies are working as the restraining factor of the compression therapy market.
The rising rate of obesity in the world population is predicted to create various opportunities for the growth of the market in upcoming years.
Key players of the market
The report also enlists the leading players of the compression therapy market which include Sigvaris Management AG, Medtronic plc, Paul Hartmann AG, Bio Compression Systems Inc., Gottfried Medical Inc., Spectrum Healthcare, Colfax Corp., BSN Medical GmbH, The 3M Co., Tactile Systems Technology Inc., and many others.
The report also summarizes other important aspects including financial performance, product portfolio, SWOT analysis, and recent strategic moves and developments of the leading players.
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