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India Static Compression Therapy Market – Insights

Compression therapy is a form of wound care in which specifically designed stockings are worn to gently apply pressure to the ankles and legs. Static compression therapy products include, compression garments, compression stockings, and compression socks. Bandages are easy to wear and are affordable. Bandages are made from elastic material and used on various parts of the body to reduce swelling.  

India static compression therapy market is estimated to account for US$ 138.6 Mn in terms of value in 2019 and is expected to reach US$ 241.8 Mn by the end of 2027.

India Static Compression Therapy Market: Drivers

High incidence of diabetes is expected to aid in growth of India static compression therapy market over the forecast period. For instance, according to the National Diabetes and Diabetic Retinopathy Survey report published in October 2019, the prevalence of diabetes in India was 11.8% during 2015-2019 and the prevalence of known diabetes cases was 8.0% and new diabetes cases was 3.8% during the period.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the United Nations April 2019 data, the share of geriatric population in India is expected to increase to nearly 20% in 2050

India Static Compression Therapy Market: Restraints

Lower healthcare spending is expected to hinder growth of India static compression therapy market. For instance, according to the National Health Profile 2019 released in November 2019, in 2016, public spending on health was 1.17% of the GDP, whereas nations classified as Lower Income Countries by the World Bank spent 1.57% of their GDP on health that year.

Moreover, lack of knowledge and low awareness about the use of the static compression products such as bandages and stockings is expected to hinder growth of the market.

India Static Compression Therapy Market: Opportunities 

Players in the market may focus on increasing product awareness with major focus on enhancing the distribution channel through strategic partnerships.

Moreover, correct application of compression bandages requires trained professionals. However, India has a poor doctor-patient ratio. Therefore, proper training is expected to aid in growth of the market.

India Static Compression Therapy  | Coherent Market Insights

Compression bandages segment in India static compression therapy market was valued at US$ 78.3 Mn in 2018 and is expected to reach US$ 148.4 Mn by 2027 at a CAGR of 7.4% during the forecast period.

Market Trends/Key Takeaways

The product awareness for stockings is low. Sales of diabetic socks and stockings is comparatively higher through online pharmacies, whereas sales of bandages is higher through retail pharmacies, owing to higher availability and accessibility to this channel in semi urban and remote areas. This trend is changing and more users are opting for online pharmacies and online company stores to make purchases.

The product awareness for bandages is high in India, whereas as that for socks is moderate. Shift in the adoption rate of static compression therapy products is slow. Adoption rate of stockings and diabetic socks is increasing and is expected to outpace that of compression bandages. This is attributed to ease of wearing compression garments and availability of newer fashionable stockings in the market.  

India Static Compression Therapy  | Coherent Market Insights

India Static Compression Therapy Market: Competitive Landscape

Major players operating in India static compression therapy market include, 3M, BSN Medical, Sigvaris AG, and Vissco Healthcare.

India Static Compression Therapy Market: Key Developments  

Major players in the market are focused on launching new products to expand their product portfolio. For instance, in April 2018, Sigvaris AG launched the new version of SAMSON stockings for women and men with new colors, improved characteristics, and a new look. The product is has skin-friendly cotton that keeps away moisture and offers long lasting comfort.

The compression bandages are used to apply pressure to produce a desired clinical effect after trauma. Compression bandages are also known as pressure bandages and are used to control conditions such as edema, lymphedema and reduce swelling in the treatment of venous disorders of the leg. They also can be easily adjusted to fit different limb size and individual patient’s compression needs. The pressure bandage are highly recommended in the medical settings, owing to the wide availability of options such as the difference in compression pressure allowing efficient treatment for severe to acute injuries.

Restraints of the India Static Compression Therapy Market

Population in India is generally not aware about therapies such as compression bandages, and stockings, and they prefer traditional treatment options. Thus, lack of knowledge and low awareness about the use of the static compression products such as bandages and stockings is expected to hinder growth of the market.   

Key features of the study:

  • This report provides in-depth analysis of the India static compression therapy market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the India static compression therapy market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include 3M, BSN Medical, Sigvaris AG, and Vissco Healthcare.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The India static compression therapy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • India Static Compression Therapy Market, By Product Type:
    • Compression Bandages
    • Compression Garments
      • Upper Garments
      • Lower Garments
        • Compression Stockings
        • Diabetic Socks
  • India Static Compression Therapy Market, By Distribution Channel:
    • Retail Pharmacies
    • Online Pharmacies
  • Company Profiles
    • 3M*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • BSN Medical
    • Sigvaris AG
    • Vissco Healthcare

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Distribution Channel
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. India Static Compression Therapy Market, By Product Type, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Compression Bandages
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Compression Garments
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
        • Upper Garments
        • Lower Garments
          • Compression Stockings
          • Diabetic Socks
  5. India Static Compression Therapy Market, By Distribution Channel, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Retail Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Online Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Competitive Landscape
    • Company Profiles
      • 3M
        • Company Overview
        • Product Type Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • BSN Medical
        • Company Overview
        • Product Type Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Sigvaris AG
        • Company Overview
        • Product Type Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Vissco Healthcare
        • Company Overview
        • Product Type Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 23 market data tables and 21 figures on “Static Compression Therapy Market – India forecast to 2027.

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