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Global Compression Therapy Market: Rapidly Growing Obese Population affected by Deep Vein Thrombosis to Increase Valuation of Market to US$4.0 Million by 2023

A new Published market report by Transparency Market Research is Global Compression Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2020
Published 04 December 2015
Compression therapy refers to the application of external pressure to the skin and underlying organs to promote normal flow of venous blood in the body. It is usually prescribed for the treatment of diseases such as chronic venous insufficiency, lymphedema, and deep vein thrombosis. The rapidly growing obese population across the world has boosted the growth of the global compression therapy market. The overall market is expected to grow at a CAGR of 5.2% during the period between 2015 and 2023. The global compression therapy market stood at US$2.5 billion in 2015 and is projected to be worth US$4.0 billion by 2023. 
Lack of Favorable Reimbursement Policies to Hinder Growth of Global Compression Therapy Market
Obesity and deep vein thrombosis are closely related. It is estimated by the World Health Organization that more than 1.9 billion adults across the globe were overweight in 2014. Of these, more than 600 million were obese. The rising obese population affected with deep vein thrombosis is expected to propel the growth of the compression therapy market. Rising sports injuries as well as increase in the number of orthopedic surgeries will escalate the demand for compression therapy. However, the global compression therapy market will be restricted by the lack of favorable reimbursement policies by insurance providers. The market has a huge opportunity to grow in emerging economies. 
Dynamic Compression Therapy Segment to Grow at Highest Rate
On the basis of technology, the global compression therapy market has been segmented into dynamic compression therapy and static compression therapy. During the next couple of years, static compression therapy is expected to dominate the overall market owing to high preference by doctors. However, the demand for dynamic compression therapy is growing rapidly, as the treatment is effective and requires less frequent bandage changes. Rising demand for comfortable and innovative compression therapy is expected to push the dynamic compression therapy segment to grow at the highest rate during the aforementioned forecast period. 
Demand for Compression Pumps to be Highest in Global Compression Therapy Market
On the basis of product type, the global compression therapy market has been divided into compression stockings, compression pumps, compression tapes, and compression bandages. Compression bandage was the largest product segment in 2014 owing to stress-free usage, easy availability, and low cost. 
However, in the near future, the compression pump segment is projected to grow at the highest CAGR due to rising demand for compression pumps in the treatment of lymphedema. Compression pumps are of two types – sequential compression pumps and intermittent compression pumps. The demand for intermittent compression pumps is expected to grow significantly during the period between 2015 and 2023.
Emerging Economies to Drive Demand from Global Compression Therapy Market
Geographically, the compression therapy market has been divided into five key regions: Europe, Asia Pacific, the Middle East and Africa, Latin America, and North America. The emerging economies in Asia Pacific, Latin America, and the Middle East and Africa are expected to drive the demand from the market.
Some of the key players in the global compression therapy market are BSN Medical, Bio Compression Systems, Smith and Nephew, and 3M Healthcare. 
Browse Full Global Compression Therapy Market Report With Complete TOC @

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