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.
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