Compression Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Compression therapy is essential for managing treatments for chronic venous insufficiency among various others. The illness also known as the venous valvular reflux is becoming more widespread as conditions like diabetes continue to affect millions around the world. According to Center for Disease Control and Prevention (CDC), there are 30 million diabetic patients in the US. Moreover, 25% these are not aware of their condition. Furthermore, over 84 million US adults exhibit symptoms of prediabetes. And, 90% of these are not aware of their condition. Moreover, the condition exhibits a close association with illnesses like extreme ulceration. It is estimated that annual costs for treatments like chronic venous insufficiency range from $2 billion each year. Additionally, various randomised trials have proven the efficacy of compression therapies with success rates as high 97% in healing. Moreover, the treatment also benefits skin changes, weeping, and patients with edema. The growing incidences of diabetes, and rising obesity in urban areas globally will be major drivers of growth for clinical nutrition market.
BD (Becton, Dickinson and Company) has announced premarket approval for its new Venovo venous stent, a new promising treatment for iliofemoral venous occlusive disease. The stent promises new opportunities for players in the global compression therapy market. it is a flexible nitinol stent, which maintain femoral veins and reopen blockage of iliac to regulate blood flows. Its treatment is expected to allow clinicians to treat large diameter, and long lesion lengths.
InterVene, a startup has received $15 million in funding to further its quest of a catheter-based treatment for correcting failed one-way valves in the veins of the leg. The new solution promises to build deep vein reflux and build new valves out of tissues. The new valves will arise out of patient’s own vein walls, and will eliminate the need for implants. The new device known as BlueLeaf promises to create bicuspids valves during a single procedure to remove the need of conventional open surgery.
The increasing efficacy of compression pumps, rising demand for dynamic compression therapies, and increased incidences of diseases like lymphedema will drive significant traction for the compression therapy market during 2018-2028. The pumps can facilitate delivery of individualised pressure, a growing need for patients with difference level of compression needs. Moreover, the treatment has proven more effective as compared to its alternatives, and continues to open new opportunities for dynamic compression systems, which conventionally have remained secondary treatment methods to static compression methods. According to recent research published in JAMA or the high-usage of pump-based compression systems leads to lower incidences of cellulitis infection, reduced hospitalization, and physician visits per patients.
The global compression therapy market report will cover all regions of the globe including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the rising incidences of diabetes, and prevalent obesity in North America region will drive significant growth for players in the compression therapy market. The rising incidences of diabetes, and innovative compression therapy devices, and streamlining of FDA approval process, will create tremendous opportunities for growth for players in the compression therapy market. Asia Pacific with its expanding access to healthcare due to improving healthcare infrastructure, increased private investments in reimbursement mechanisms, and rising disposable incomes will register the fastest CAGR during the forecast period.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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