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

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

  • Transparency Market Research
  • January 2038
  • Pharmaceutical
  • 0 pages

Report Description

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Compression therapy is used as a first line of treatment for venous leg ulcers and ischemic ulcers. Advantages such as simple application procedure, enhanced patient concordance, and reduced slippage make compression bandages an effective treatment method for chronic wound management. Compression bandages can be re-usable or disposable. The compression induces vascular changes at the wound site by forcing blood and plasma from the interstitial spaces back into the lymphatic and vascular compartments.

Rise in prevalence of venous leg ulcer, increase in physicians’ interest in improving quality of patients’ life, rise in manufacturer focus on business expansion in potential developing regions, and affordability of compression bandages are the major factors expected to drive the global compression bandages market during the forecast period. However, rise in adoption of advanced wound care active therapies to reduce the risk of infection is likely to restrain the global compression bandages market during the forecast period.

The global compression bandages market can be segmented based on product, material, application, region, and end-user. Based on product, the global compression bandages market can be divided into multilayer compression bandages, short stretch compression bandages, and long stretch compression bandages. The multilayer compression bandages segment is anticipated to expand at a rapid pace primarily due to increase in focus of manufacturers on developing products with a higher life cycle and lower frequency of replacements. In terms of material, the global compression bandages market can be classified into polyester, latex, and others. The other material types include cotton and other material types. Based on application, the global compression bandages market can be categorized into wound management, trauma, deep vein thrombosis, lymphedema, and others. The wound management segment can be further divided into venous ulcers, arterial ulcers, diabetic foot ulcers, and other lower limb ulcers. In terms of end-user, the global compression bandages market can be segmented into hospitals, long term care centers, clinics, skilled nursing facilities, ambulatory surgical centers, home-use, and other outpatient settings. The hospital segment is estimated to hold major market share throughout the forecast period, due to the improving health care infrastructure in developing countries and increasing group purchasing policies employed by multispecialty hospitals.

In terms of region, the global compression bandages market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a dominant market share during the forecast period owing to presence of favorable reimbursement policies, significant economic burden of chronic wounds, and strong brand value of existing major market players with established distribution networks. The compression bandages market in Asia Pacific is likely to expand at a rapid CAGR in terms of value during the forecast period. Some of the major reasons behind this are significant population base for diabetes and obesity resulting in rise in incidence rates of chronic wounds, increase in patient demand for affordable care, and rise in physician preference for compression therapy in treatment of venous leg ulcers with an objective of improving quality of patients’ life, among others.

The wound care treatment is characterized with unmet clinical need of edema and exudate management. The major market players are focused on development of innovative products to address this unmet medical need, which serve as major opportunities for the growth of global compression bandages market during the forecast period. The strong emergence of local manufacturers offering products at lower average selling prices is resulting in reduced exports and rise in domestic sales of compression bandages. This is seen as a characteristic trend among high expansion potential developing countries in global compression bandages market. The prominent players operating in the global compression bandages market are 3M, Cardinal Health, ConvaTec Inc., BSN medical, PAUL HARTMANN AG, Smith & Nephew plc, Andover Healthcare, Inc., Mölnlycke Health Care AB, Beiersdorf AG, Baxter International Inc, among others.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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