Compression Therapy Devices Market Share, Size, Trends, and Forecast by 2031

MARKET OVERVIEW

Compression therapy devices are used to treat chronic diseases such as, lymphedema, leg-ulcers, phlebitis, thrombosis, and other forms of varicose veins. These devices are also used to prevent venous issues during pregnancy and for long distance travel. Depending on the pathology, medical compression therapy can be used in different forms such as, socks, stockings, tights, or bandages. Compression pumps are also available in the market which are kept around the affected area. The pump helps in unblocking the trapped fluid and gently compresses the area, reduces the pain and helps to mimic the way the body works generally.

MARKET SCOPE

The "Global Compression Therapy Devices Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the compression therapy devices market with detailed market segmentation by treatment, application, end user, and geography. The report provides key statistics on the market status of the leading compression therapy devices market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on treatment, the global compression therapy devices market is segmented into static compression therapy and dynamic compression therapy.
  
•   By application the market is further segmented into varicose veins treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment and others.
  
•   Based on end user, the market is bifurcated into hospitals, ambulatory surgical centers and others
  

MARKET DYNAMICS

Drivers

•   Increasing prevalence of vascular diseases among the obese population, such as, venous veins, leg ulcers, foot ulcers, deep vein thrombosis and diabetic foot ulcers
  
•   Rising awareness for chronic wound associated risk factors
  
•   Growing obese population
  

Restraints

•   Alternative Therapies for Specific Target Indications
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The compression therapy devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Compression therapy devices market in these regions.

IMPACT OF COVID-19 ON COMPRESSION THERAPY DEVICES MARKET

The impact of the COVID-19 pandemic in the European region has slightly affected negatively to the medical device industry. Various companies have shut down their productions, hence are unable to manufacture to meet the rising demand. The pandemic has also affected the upcoming European Union Medical Device Regulation (2017/745). Therefore, the dates of introducing new regulations and guidelines have been postponed from May 2021 to May 2021. In addition, the supply of important equipment and consumables are stagnant. However, dependency on the suppliers from other countries has turned into a long process of deliveries of medical devices and its consumables. Therefore, several medical companies were not able to meet the demand for medical equipment and personal protective equipment across the countries. In addition, the lockdown situation in highly affected countries such as Italy and Spain, the UK, and Germany has lower down the economies of the countries. Therefore, it is expected that the growth of the market is likely to be slower in the following few years.

MARKET PLAYERS

The report covers key developments in the compression therapy devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from compression therapy devices market are anticipated to lucrative growth opportunities in the future with the rising demand for compression therapy devices in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the compression therapy devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   3M
  
•   Smith & Nephew
  
•   Medtronic
  
•   SIGVARIS
  
•   HARTMANN USA, Inc.
  
•   medi GmbH & Co. KG
  
•   BSN medical
  
•   ArjoHuntleigh
  
•   Juzo
  
•   Gottfried Medical, Inc.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Compression Therapy Devices Report Scope