Compression therapy involves the use of specifically designed stockings that are used to increase the blood flow activity in the limbs or other parts of the body by strengthening vein support. Compression garments provides a certain amount of graduated pressure that helps to control the leg swelling and discomfort caused by venous diseases. In case of pneumatic compression therapy, compression pumps are used to treat leg ulcers, while static compression therapy uses bandages, stockings, diabetic shoes and socks as per patient requirement. Compression therapy is majorly used in the treatment of varicose veins, deep vein thrombosis (DVT), lymphedema, venous leg ulcers, gravitational eczema and venous thrombolism (VTE). Compression therapy is majorly used for the active treatment of ulcers and in preventing its recurrence. According to Vascular Disease Foundation, chronic venous insufficiency majorly affects 50% of the adult population worldwide. This therapy is also preferred by sportspersons and athletes for treating musculoskeletal and spinal injuries.
Recent advancements in compression therapy includes various product innovations and new technologies that are user friendly and adapts according to patient requirements. In 2016, COOLSYSTEMS, INC. developed ACCEL technology helping in integrated pneumatic compression and cold therapy. Also the NormaTec recovery system developed by Normatec in 2016 uses the latest pulse technology for dynamic compression therapy. Profore, a compression system developed by Smith & Nephew in 2015, comprises extra padding layer to provide protection to vulnerable areas such as the Achilles tendon and pretibial crest.
Furthermore, now multiple sustained high compression elastic bandages are used for compression therapy rather than traditional inelastic compression or single component compression systems. This is mainly owing to the fact that elastic bandages provide more patient convenience in terms of limb movement over the inelastic bandages.
Compression therapy market taxonomy:
On the basis of technology, the compression therapy market is classified into:
On the basis of product type, the compression therapy market is classified into:
On the basis of end user, the compression therapy market is classified into:
Increase in awareness about venous diseases and injuries due to adventure activities and sports are driving the growth of compression therapy market. For instance, according to Safe Kids Worldwide, a global organization which is committed to prevent injuries in children, around 1.3 million cases of sports injuries in youngsters are registered in the U.S every year. Moreover, growing aging population and increasing prevalence of diabetes are also supporting the growth of the compression therapy market in the region. According to the International Diabetes Federation, the prevalence of diabetes is expected to grow from 366 million in 2011 to 552 million by 2030 worldwide that is expected to augment the market growth in the future. Also the rise in DVT cases add to the growth of the market. As per the Centers for Disease Control and Prevention (CDC), the annual incidence of DVT in the U.S. is 1 per 1000 people. The CDC also states that 60,000-100,000 patients suffered from DVT in 2016 in the U.S.
Further, increasing research activities also drive the market. For instance, clinic trials are going on for the use of compression therapy in breast cancer-related lymphedema in the Medical University of Vienna. Furthermore, there are ongoing research studies to study the effect of pneumatic compression therapy on lymph movement in lymphedema-affected extremities at The Brown Institute for Molecular Medicine
Epidemiological and patient accessibility factors to drive growth in different regions
By geography, North America holds the major market share due to rapid acceptance of new technologies and increasing prevalence of obesity leading to vascular diseases. Obesity in individuals leads to progression of knee osteoarthritis (OA) leading to a type of asymptomatic vascular disease. According to the American Academy of Orthopedic Surgeons (AAOS), around 600,000 knee arthroplasty surgeries were performed in 2010 in the U.S. Furthermore, growth in Asia Pacific region is expected to be driven majorly by rising sports injuries. According to the Asian Federation of Sports Medicine (AFSM), about 21,334 incidence of sports injuries occur annually in Asia. Such incidences coupled with patient awareness, affordability and accessibility would fuel the growth in Asia Pacific compression therapy market.
Inorganic growth strategy adopted by market players
Key players in the global compression therapy market include Getinge AB, 3M, BSN Medical, Medtronic, SIGVARIS, FlowAid Medical Technologies, Bio Compression Systems, IntelliSkin, ConvaTec, Devon Medical Products, ElastiMed, Kinesio, KT Health and Laboratoires Innothera S.A.S. Companies are striving to increase their market share through inorganic and collaborative growth strategy. For instance, FarrowMed Medical solutions was acquired by BSN medicals in 2015. This helped BSN medical to expand its lymphedema treatment solutions portfolio.in different regions. In May 2017, Footfalls & Heartbeats, a UK based smart fabrics manufacturing company partnered with Karl Otto Braun GmbH & Co. KG (KOB), to develop a smart bandage that can measure the pressure applied by compression bandage and enable live monitoring of compression therapy. KOB is a bandage and fabrics manufacturer based in Germany.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized firstname.lastname@example.org
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.