Factors such as the increasing incidence of sports injuries and accidents, significant increase in the burden of target diseases (such as lymphedema, DVT, and varicose veins), and the favorable clinical evidence for the use of compression therapy products in the management of several diseases are driving the growth of the compression therapy market across the globe.
New York, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Compression Therapy Market by Technique, Application, Distribution - Global Forecasts to 2026" - https://www.reportlinker.com/p05077134/?utm_source=GNW
Compression pumps segment is expected to witness the highest growth rate during the forecast period
On the basis of product, the compression therapy market is segmented into compression garments, compression braces, and compression pumps.Compression pumps form the fastest-growing product segment in the compression therapy market. The high growth in this segment is attributed to the rising incidence of cancer, increasing prevalence of chronic venous diseases such as lymphedema and DVT, and the growing number of hip and knee surgeries across the globe.
Lymphedema treatment is the fastest-growing application segment in the compression therapy market
On the basis of application, the compression therapy market is segmented into varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and other applications. The lymphedema treatment segment is estimated to grow at the highest CAGR during the forecast period, primarily due to the rising incidence of lymphedema, coupled with the increasing patient preference for compression therapy in lymphedema treatment.
Asia Pacific is estimated to be the fastest-growing regional market for compression therapy products
The global compression therapy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa). During the forecast period of 2021 to 2026, the Asia Pacific market is estimated to grow at the highest CAGR, primarily due to the high growth in the target patient population in several Asia Pacific countries.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 48%, Tier 2- 36%, and Tier 3- 16%
• By Designation: C-Level- 10%, Director Level- 14%, and Others- 76%
By Region:North America- 40%, Europe- 32%, Asia Pacific - 20%, Lain America - 5%,Middle East & Africa – 3%
*Others include sales managers, engineers, and regional managers.
Note: Tier 1 Company—Revenue > USD 5 billion, Tier 2 Company—Revenue between USD 1 and USD 5 billion, and Tier 3 Company—Revenue < USD 1 billion
Thecompression therapymarket is dominated by a few major players that have an extensive country presence such as BSN medical (Germany), DJO Global, Inc. (US), medi GmbH & Co. KG (Germany), Tactile Medical (US), and SIGVARIS (Switzerland). Product launches, agreements, and collaborations were the major strategies adopted by market players to achieve growth in the market.
This report studies the compression therapy market based on product, technique, application, and distribution channel.The major market drivers and restraints are also covered in this report.
It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market, and forecasts the revenue of the market segments with respect to four main regions.
Why Buy this Report?
1. The report identifies and addresses the key markets for the compression therapy market, which would help equipment manufacturers and service providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help themin making better strategic decisions.
Read the full report: https://www.reportlinker.com/p05077134/?utm_source=GNW
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