The global compression bandages market is projected to gain momentum from the rising incidence of deep vein thrombosis, venous ulcers, and lymphedema. This information is published in a report by Fortune Business Insights, titled, “Compression Bandages Market Size, Share & Industry Analysis, By Product (Short Stretch Bandages, Long Stretch Bandages, Multilayer Compression Bandages), By Material (Polyster, Latex, Cotton, Others), By Application (Wound Management, Deep Vein Thrombosis, Lymphedema, Others), By End-user (Hospitals & Ambulatory Surgical Centers, Clinics, Nursing Care Centers & Skilled Nursing Facilities, Home Care, Others) and Regional Forecast, 2019-2026.” The market is projected to reach USD 1.84 Billion by 2026, thereby exhibiting a CAGR of 5.3% during the forecast period. However, the compression bandages market size was worth USD 1.21 Billion in 2018. Additionally, an increasing adoption of compression therapy by healthcare providers to manage target diseases would positively impact the market.
The report covers:
- Global Compression Bandages Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Essity (BSN medical GmbH)
- Paul Hartmann AG
- Smith & Nephew plc
- Mölnlycke Health Care AB
- Lohmann & Rauscher GmbH & Co. KG
- Braun Melsungen AG
- Cardinal Health
- ConvaTec Group PLC
- Other prominent players
Short Stretch Bandages Segment to Dominate Owing to Reusability & Reasonable Price
In terms of product, the compression bandages market is grouped into multilayer compression bandages, long stretch bandages, and short stretch bandages. Out of these, the short stretch bandages segment held a share of 37.7% in the year 2018. It is due to its cost-effectiveness and reusability. It is likely to retain its position during the forecast period. Long stretch compression bandages, on the other hand, will showcase a significantly higher CAGR due to the rapid inclination of healthcare professionals and patients towards these products.
For more information in the analysis of this report, visit: https://www.globenewswire.com/news-release/2019/11/12/1945104/0/en/Compression-Bandages-Market-to-Reach-USD-1-84-Billion-by-2026-Rising-Prevalence-of-Lymphedema-to-Boost-Growth-says-Fortune-Business-Insights.html
North America to Dominate: Rising Geriatric Population to Surge Demand
The compression bandages market is geographically fragmented into Latin America, the Middle East and Africa, Europe, Asia Pacific, and North America. Amongst these, North America is anticipated to dominate the market during the forecast period. It had also generated the highest revenue in 2018. The growth is attributed to the increasing geriatric population, which in turn, is rising the prevalence of venous diseases. Moreover, the easy accessibility of compression bandages and the presence of renowned market players in the U.S. are projected to boost compression bandages market growth in this region.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Key Indications, 2017
- Cost Burden of Chronic Wounds in Europe, 2018
- New Developments in Wound Care
- Pricing Overview- End User
- Key Industry Developments
Asia Pacific to Register as Fastest Growing Region with Reference to Affordability and Safety that Compression Bandages Offer
Geographically, the North American market is dominating the current compression bandages market. The increasing number of minor incidents and chronic diseases is propelling demand for first line medical treatment, hence the need for compression bandages arrives. This is boosting the North American market in future as well. In addition to that, governments of developed nations namely Canada, and the U.S., provide favorable reimbursement policies to its citizens, which in turn is also driving the regional market. Furthermore, the presence of strong and well-established players in North America is anticipated to help the regional market continue its dominance over the next years as well.
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