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North America Leads Global Compression Therapy Market, to be worth US$1,515.4 million by 2020

The North American compression therapy market is is anticipated to grow from an estimated USD 1,102.2 million in 2014 to USD 1,515.4 million by 2020 at a CAGR of 5.4% during the forecast period.
Published 26 August 2015

New York City, New York, August 26, 2015: Escalating incidence of sports injuries around the world and advanced features of compression therapy devices and garments has boosted the growth of the global compression therapy market, states Persistence Market Research in its latest report. The study, titled “Global Market Study on Compression Therapy: Asia to Witness Highest Growth by 2020”, indicates that the worldwide market for compression therapy will rise to US$3,232.3 million in 2020, growing from US$2,377.8 million in 2013. If these values hold true, the market is estimated to develop at a modest 5.2% CAGR during that period.

By geography, the global compression therapy market is segmented into North America, Europe, Asia, and Rest of the World. North America has emerged as the leader in the compression therapy market owing to rise in aging population, growing prevalence of diabetes, and alarming levels of obesity. The rising number of sports injuries in the region, especially in the U.S., is also a major factor boosting the growth of the compression therapy market in North America. According to Safe Kids Worldwide, around 1.3 million cases of sports injuries among young people are registered every year in the U.S. alone. Safe Kids Worldwide is a global organization working towards preventing injuries in children. The PMR report indicates that registering a 5.4% CAGR from 2014 to 2020, the North America compression therapy market is poised to grow from US$1,102.2 million in 2014 to US$1,515.4 million by 2020.

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Europe is another significant region contributing towards the growth of the compression therapy market. This region is also driven by the same forces as North America – rising prevalence of diabetes, growth of geriatric population, and surge in sports injuries. The European Injury Database states that every year, an estimated 4.5 million people above the age of 15 are treated for sports injuries in hospitals. This has greatly boosted the demand for compression therapy in Europe.

Asia Pacific has been identified as the fastest developing regional market for compression therapy, fueled by growing aging population and rising prevalence of diabetes. Similar to North America and Europe, the Asia Pacific compression therapy market is also driven by the rise in sports injuries. The Asia Federation of Sports Medicine, which is a part of the International Federation of Sports Medicine, states that every year, an average of 21,334 sports injuries occur in the region.

On the basis of product, the compression therapy market is divided into dynamic compression therapy and static compression therapy. Dynamic compression therapy is further categorized into segmented pneumatic pumps, non-segmented pneumatic pumps, and others. Static compression therapy is also further broken down into diabetic shoes, compression garments, compression bandages, and others.

GmbH & Co. KG, THUASNE, BSN medical GmbH, SIGVARIS, Julius Zorn GmbH., Smith & Nephew plc, 3M Company, ArjoHuntleigh, Medtronic plc, and PAUL HARTMANN AG are some of the prominent players in the compression therapy market. These companies are profiled in the research report on the basis of attributes such as company overview, financial performance, products and services, and key developments.

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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.

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