Pressure Bandages Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Pressure Bandages Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : November, 2020 | Medical Devices | PPT format

Report Digest


Global Pressure Bandages Market: Snapshot

The rising incidence of venous leg ulcers has emerged as a serious clinical problem worldwide, draining substantial financial resources. While it is possible to treat a majority of ulcers using compression bandages of moderate categories, physiotherapists often recommend pressure bandages for 2 to 3 days to reduce swelling and pain in cases of acute injuries. As per a study by Circulation Foundation, 2015, venous diseases are underlying cause of nearly two-third of all leg ulcers. The study also revealed that arterial disease and other causes such as rheumatoid arthritis and diabetes account for a significant number of leg ulcer cases. Therefore, the rising prevalence of diseases that can cause leg ulcers is a key factor fuelling the adoption of pressure bandages. This is expected to give impetus to the global pressure bandages market.

According to studies, obese population are at a greater risk of developing vascular diseases. Therefore, the use of pressure bandages is significantly high among them as they try to protect themselves against venous disease. Considering this, the demand for pressure bandages is expected to rise in response to the increasing pool of obese population. Other than this, the rising incidents of chronic wounds is expected to increase the use of pressure bandages, thus enabling the market record an accelerated pace of gains. Also the increasing cases of foot ulcer are likely to fuel the demand for pressure bandages in the coming years.

Some of the leading companies operating in the market are focusing on expanding their line of products to gain competitive advantages. Over the last couple of years several prominent manufacturers have shifted their focus towards introducing advanced wound management treatments and techniques. These products are likely to have greater ability of absorbing moisture thereby increasing the rate of healing. Such strategies adopted by the key players are likely to bode well for the global pressure bandages market.

Global Pressure Bandages Market: Overview

Pressure bandages, also popularly known as compression bandages, are dressings used as first-line of treatment to stop severe blood loss from a wound in emergency situations. The application of pressure helps in the prevention of excessive blood loss as well as any buildup of infections, and further assist in normal blood clotting. These bandages are preferably used for limbs as they allow better application and may be critical in saving lives in traumatic wound injuries before any professional help arrives. Pressure bandages are made of natural latex so as to avoid any allergic reaction to patient’s skin. They rose in popularity among militaries and Special Forces in war zones in various parts of the world where they became a choice of first aid in the management of traumatic wound injuries.

Global Pressure Bandages Market: Key Trends

The drive for pressure bandages stems from the substantially rising application in preventing hemorrhage. The rise in traumatic sports injuries and accidents causing profuse loss of blood is a notable factor bolstering the demand for compression bandages. The promising application of pressure bandages in the treatment of venous leg ulcers is a significant trend accentuating the market. They are initially preferred by physiotherapists for most acute injuries for reducing swelling. Pressure bandages have emerged as the matter of choice in a wide variety of venous leg ulcers among populations, especially in developed nations. The compression therapy used in pressure bandages is a clinically proven way for improving the venous function without affecting arterial function. Advances in expertise in using the therapy will open promising prospects in the market.

Global Pressure Bandages Market: Market Potential

In standard medical practice, pressure bandages are considered as the mainstay of treatment in venous leg ulcers management. Venous disease of the leg is the most common cause of all leg ulcers world over. In worldwide healthcare markets, a number of companies are focusing on developing cutting-edge technologies for improving the effectiveness of treatments for venous leg ulcers. Such initiatives are aimed at reducing the considerable burden venous leg ulcers exert on healthcare system, especially in developing and developed countries. In the U.K., this is greatly supported by venture capital firms who are making large volumes of funding to private companies and their efforts are based on publicly-funded research.

UK Innovation & Science Seed Fund (UKI2S), an early-stage venture capital fund has in March 2018 sought to invest in seven companies. The investment is made under £8.5m investment accelerator, Innovate UK, supported by in-grant funding and equity from the U.K. government. One of the companies benefitting from the governmental funding is SFH Oxford, a company actively pursuing innovations in treating venous leg ulcers. The company is developing a sensor-powered technology that will be instrumental in improving the application of compression or pressure bandages. This will greatly help in enhancing the efficacy of pressure bandages for treating the leg ulcer and reduce the morbid effect it has on the patient’s quality of life.

Global Pressure Bandages Market: Regional Outlook

Some of the key regional markets for pressure bandages could be North America, Latin America, the Middle East, Asia Pacific, Europe, and Africa. Of the various regions, North America is expected to be a prominent market. The demand for pressure bandages is fueled by the rising prevalence of diabetes in the regional population. Coupled with this, the growing morbidity of venous leg ulcers in the patient population is also favoring the growth of the regional market. The wider availability of products and the substantial technological advances made in treatment modalities are notable factors driving the growth of the North America market.

Global Pressure Bandages Market: Competitive Analysis

A number of players are launching products that can be conveniently applied and provide uniform compression. The products developed can be made to be effective for extended time period. Several companies are also focused on developing innovative technologies for compressor bandages to gain a competitive edge over others. Some of the top players operating in the pressure bandages market are BSN Medical, Tytek Medical, Persys Medical, Johnson & Johnson, Cardinal Health, Inc., ConvaTec, Inc., 3M, Smith & Nephew, and Medtronic Plc.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?