Pune, Nov. 12, 2019 (GLOBE NEWSWIRE) -- The global Compression Bandages Market size 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 analyzes and tracks strategic developments undertaken by key market players, such as joint ventures, agreements, acquisitions, new product launches, mergers, collaborations, and partnerships. It offers elaborate information about the significant factors influencing growth, namely, Compression Bandages Market trends, opportunities, drivers, hindrances, and industry-specific other challenges. It further aid in highlighting the micro markets with respect to contributions and future prospects of the entire market.
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List of prominent companies operating in the Compression Bandages Market are as follows:
- Essity (BSN medical GmbH)
- Paul Hartmann AG
- Smith & Nephew plc
- Mölnlycke Health Care AB
- Lohmann & Rauscher GmbH & Co. KG
- B. 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.
Furthermore, demand for multilayer compression bandages is projected to skyrocket in the coming years. It would occur due to its high usability in those patients who are affected by lymphedema and chronic wounds. These bandages are capable of providing maximum support and larger elasticity for immediate cure of various crucial diseases.
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.
Milliken & Company Acquires Andover Healthcare to Expand its Innovative Product Portfolio
Milliken & Company, a diversified industrial manufacturer, based in South Carolina, announced that it has successfully acquired Andover Healthcare, a leading manufacturer of bandages and tapes for sports medicine, animal health, and healthcare markets, headquartered in Salisbury, in June 2019. The acquisition enables both companies in bringing innovative, comprehensive, and streamlined solutions to the healthcare providers. The companies share a goal to create a positive impact on the masses across the world with patient-driven, technologically advanced, and high-quality products.
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Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- 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
- Global Compression Bandages Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Short Stretch Bandages
- Long Stretch Bandages
- Multilayer Compression Bandages
- Market Analysis, Insights and Forecast – By Material
- Market Analysis, Insights and Forecast – By Application
- Wound Management
- Deep Vein Thrombosis
- Market Analysis, Insights and Forecast – By End User
- Hospital & Ambulatory Surgical Centers
- Nursing Care Centers & Skilled Nursing Facilities
- Home Care
- Market Analysis – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Have a Look at Related Reports:
Europe 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
Advanced Wound Care Market Size, Share and Global Trend By Product (Advanced Wound Dressings, Wound Care Devices & Active Wound Care), Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, Others), End User and Geography Forecast till 2025
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