|[August 28, 2013]
Research and Markets: Compression Therapy Market to 2019
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/2bwj7z/compression)
has announced the addition of the "Compression
Therapy Market to 2019 - Growth Due to Increased Awareness in Venous
Disease Management Offset by Reimbursement Issues" report to
The Global Compression Therapy Market is Forecast to Reach $3.4 Billion
The global compression therapy market was valued at $2.4 billion in 2012
and is forecast to reach $3.4 billion by 2019 at a Compound Annual
Growth Rate (CAGR) of 5%. It will be driven primarily by the
increasingly large population that is both elderly and diabetic and
leading to a high incidence of venous diseases.
There is a lack of awareness among patients and physicians about the
importance of compression therapy in the management and acceleration of
wound healing. However, campaigns organized by companies and non-profit
organizations have helped to raise awareness of the complications
associated with venous diseases and the importance of compression
therapy in their management. Advances in garments, textile technology,
compression stockings, and bandages aimed at improving patient comfort
are expected to drive future growth.
It is imperative that governments worldwide provide better access to
compression therapy, as it can help to significantly reduce a coutry's
healthcare burden. Inadequate or a total lack of reimbursement for
compression therapy, even in developed economies such as the US and
Europe, will continue to slow down demand during the forecast period.
The US Remains the Largest Market for Compression Therapy
In 2012, the US was the largest market for compression therapy and
accounted for 49% of global market revenue. It will remain the largest
market during the forecast period, growing from a value of $1 billion in
2012 to $1.6 billion by 2019 at a CAGR of 6%. Europe and Asia-Pacific
are expected to account for slightly smaller shares by 2019 as the share
of the US increases slightly to strengthen its leading position.
Inadequate reimbursement for compression therapy in the US is however a
major restraint for future growth. Medicare currently does not reimburse
compression therapy products, with the exception of some special
conditions of chronic venous insufficiency such as venous ulcers, also
known as stasis ulcers. Future growth is expected to be driven by
growing awareness of the importance of compression therapy in the
management and acceleration of wound healing rates.
Technical advances in garments, textile technology, compression
stockings, and bandages aimed at improving patient comfort will also
boost growth during the forecast period.
Key Topics Covered:
1.1 List of Tables
1.2 List of Figures
3 Global Compression Therapy Market: Device Overview
4 Global Compression Therapy Market: Market Characterization
5 Global Compression Therapy Market: Segment Analysis and Forecasts
6 Global Compression Therapy Market: Country Analysis and Forecasts
7 Global Compression Therapy Market: Reimbursement System
8 Global Compression Therapy Market: Distribution System
9 Global Compression Therapy Market: Competitive Assessment
10 Global Compression Therapy Market: Product Pipeline Analysis
11 Global Compression Therapy Market: Consolidation Landscape
- BSN Medical GmbH
- Covidien plc
- Julius Zorn, Inc.
- Laboratoires Innothera
- Medi GmbH & Co. KG
- Paul Hartmann AG
- Sigvaris, Inc.
- Smith & Nephew Plc
- Thuasne SA
For more information visit http://www.researchandmarkets.com/research/2bwj7z/compression
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