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Rising prevalence of diabetes is one of the key factors resulting in the high growth of the compression therapy market. According to the Center for Disease Control and Prevention (CDC), the U.S. recorded more than 30 million people affected with diabetes, which totals to approximately 10% of the entire U.S. population. Further, according to Insights and Reports Leonard Floyd Shirt , the global diabetic population crossed the 450 million mark in 2015. People suffering from diabetes are highly susceptible to developing peripheral arterial disease, which results in the reduction of blood flow to the legs. Battling these conditions have given rise to the adoption of compression therapy products and is thereby fuelling the market growth of the same. Further, according to Insights and Reports, U.S. witnesses more than 900,000 people suffering from Deep Vein Thrombosis (DVT) and more than 80 Eddie Jackson Shirt ,000 people die from the disease. These factors are highly responsible for the growth of the compression therapy market.
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However, lack of reimbursement policies for compression therapy products by the government agencies is a major factor responsible for market slowdown at present.
Market Segmentation and Analysis
Based on technology, the compression therapy market has been classified into static compression therapy and dynamic compression therapy. Static compression accounted for the major market share in 2016 and is expected to hold its position throughout the forecast period as well.
Based on product type, the compression therapy market has been classified into compression garments, compression bandages Tarik Cohen Shirt , diabetic shoes, anti-embolism stockings, compression socks, compression sleeves, compression tapes Anthony Miller Shirt , segmented compression pumps and non-segmented compression pumps. Compression bandages accounted for the major market share in 2016 and is expected to continue leading the market throughout the forecast period as well.
Further, based on end-user, the market has been segmented into clinics and diagnostic centers, hospitals, and surgical centers among others.
North America led the compression therapy market in 2016 and is expected to retain its stronghold throughout the forecast period as well. Rising geriatric population is one of the key factors driving the growth of the compression therapy market in the region. U.S. is the major contributor to the growth of this industry. Further Jordan Howard Shirt , appropriate public healthcare facilities, coupled with high per capita spending on healthcare is another key factor pushing the market growth for compression therapies.
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Asia Pacific, however is expected to be the fastest growing region for compression therapies. Highly populous countries such as India and China are expected to spearhead the growth of the market. Rising incidences of sports related injuries, and rising diabetic population are some of the key factors responsible for the growth of the compression therapy market in the region. According to Insights and Reports, the type 2 diabetic population in India cross the 50 million mark in 2016. Further Mitchell Trubisky Shirt , the type 2 diabetic population in the country is expected to touch 90 billion by the end of 2030.
Some of the key players operating in the field of compression therapy market include 3M Company. Medtronic Plc, BSN Medical, Medi GmbH & Co. Kg, Paul Hartmann A.G., Bio Compression Systems Inc. and various others.
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