The compression bandages global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Compression Bandages Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The compression bandages market size has grown strongly in recent years. It will grow from $1.54 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to prevalence of chronic diseases, advancements in material and design, regulatory support, medical advancements.
The compression bandages market size is expected to see strong growth in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growing healthcare expenditure, expansion of e-commerce, customization and personalization, focus on preventive healthcare. Major trends in the forecast period include rising demand for fashionable compression stockings, shift towards sustainable materials, digital health integration, telemedicine and remote consultations.
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Scope Of Compression Bandages Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Compression Bandages Market Overview
Market Drivers –
The increasing prevalence of chronic wounds is expected to propel the growth of the compression bandage market going forward. Chronic wounds are injuries to the skin that fail to progress through the normal stages of wound healing and persist for an extended period of time. The prevalence of chronic wounds is rising due to aging populations and unhealthy lifestyles, including poor diet and a lack of exercise. Compression bandages help manage chronic wounds by reducing swelling, improving circulation, alleviating pain, and preventing complications. Compression bandages can assist in wound contraction and closure by providing external support to the wound bed and surrounding tissues. For instance, in January 2024, according to Memorial Hospital of Carbon County, a US-based critical access hospital, approximately 6.7 million individuals were presently suffering from chronic wounds, and this figure is projected to increase by over 2% over the next decade. Additionally, chronic wounds represent a cost of more than $50 billion to the healthcare system. Therefore, the increasing prevalence of chronic wounds is driving the growth of the compression bandage market.
Market Trends –
Major companies operating in the compression sleeves market are developing innovative products, such as Trailblazer calf sleeves, to serve customers with advanced features better. The Trailblazer calf sleeves stimulate blood flow, expedite recovery, and offer anti-odor technology, moisture-wicking properties, and abrasion resistance. For instance, in December 2021, BioSkin, a US-based medical equipment manufacturer, launched the Trailblazer calf sleeves. These sleeves deliver pain-relieving compression to the lower leg muscles, tendons, and ligaments; they stimulate blood flow and expedite recovery. Engineered with medical-grade compression, these sleeves are tailored to enhance recovery and optimize performance. These calf sleeves are crafted from a double layer of smooth Italian warp-knit fabric with a high degree of stretch. They are designed to flex with the muscles in the lower leg, providing pain-relieving compression to the muscles, tendons, and ligaments.
The compression bandages market covered in this report is segmented –
1) By Product: Short Stretch Bandages, Long Stretch Bandages, Multilayer Compression Bandages
2) By Material: Polyester, Latex, Cotton, Other Materials
3) By Application: Wound Management, Deep Vein Thrombosis, Lymphedema, Other Applications
4) By End-User: Hospitals And Ambulatory Surgical Centers, Clinics, Nursing Care Centers And Skilled Nursing Facilities, Home Care, Other End-Users
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Regional Insights –
North America was the largest region in the compression bandages market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compression bandages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the compression bandages market are Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic Plc, Essity AB, Medline Industries Inc., B. Braun Melsungen AG, Smith & Nephew plc, Coloplast A/S, Paul Hartmann AG, ConvaTec Group Plc, Mölnlycke Health Care AB, Integra LifeSciences Corporation, Beiersdorf AG, Lohmann & Rauscher GmbH & Co. KG, DJO Global Inc. , Thuasne Group, BSN medical GmbH, Talley Group Limited, DeRoyal Industries Inc., Arjo AB, Bauerfeind AG, L&R Group, medi GmbH & Co. KG, Oppo Medical Inc.
Table of Contents
1. Executive Summary
2. Compression Bandages Market Report Structure
3. Compression Bandages Market Trends And Strategies
4. Compression Bandages Market – Macro Economic Scenario
5. Compression Bandages Market Size And Growth
…..
27. Compression Bandages Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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