Global compression therapy market is anticipated to register exponential growth over the coming seven years due to increasing incidences of diabetes, growing geriatric population base and attached advantages such as ease in applicability of products, reliability and durability of therapy. Additionally, use of multiple garments in bandage manufacturing and increasing number of initiatives pertinent to product training for physicians are expected to propel the growth of global compression therapy market over the forecast period.
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The global compression therapy market is divided into static compression therapy and dynamic compression therapy. The static compression therapy market is segmented into diabetic shoes, compression garments, compression bandages, diabetic socks and anti embolism stockings. The compression bandages market is anticipated to witness fastest growth over the forecast period due to rising incidence rate of limb injuries and fractures occurring from diabetes and sports. The dynamic compression therapy market is categorized into compression sleeves, segmented pneumatic pump and non segmented pneumatic pump. The dynamic compression market segment is expected to witness lucrative growth over the coming seven years as they are effective in preventing leg ulcers and related disorders.
Regionally, as of 2014, North America held the highest growth share owing to favourable government policies and increasing incidences of sports injuries & diabetes. Growing geriatric population base and healthcare awareness are expected to provide a favorable market growth platform to European region. Asia pacific region is anticipated to witness fastest growth over the forecast period due to increasing incidences of diabetes in India & China and rising personal disposable income in this region. Also, Latin America region is expected to register rapid market growth over the coming seven years owing to revamped healthcare facilities, increasing R&D investments and healthcare awareness in this region.
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The key players in global compression therapy market are Julius Zorn Inc., BSN Medical GmbH, Medtronic plc, Smith & Nephew plc, THUASNE, Paul Hartmann AG, Covidien plc, Denver Sports Recovery, 3M Company, Sigvaris, Medi GmbH & Co. KG, Natural Rubber Co. and ArjoHuntleigh. The companies are engaged in exhaustive R&D operations, collaborations and product modification to increase their market share. For example, Medtronic introduced Kyphon Express II Platform in 2014 that includes Cement Delivery System. It is used for the treatment pertaining to vertebral compression fractures resulting in neurological complications, chronic pain and immobility in patients.
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