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The maturity of the U.S. compression therapy market is necessitating the introduction of advanced technologies to break the growth plateau. Manufacturers are using the concept of evidence-based medicine to educate physicians and encourage the adoption of new technologies. Growing health awareness among consumers has spurred the demand for early diagnosis and preventive approaches. This, coupled with the increasing incidence of obesity and chronic wounds, is fuelling the compression therapy market.
New analysis from Frost & Sullivan (medicaldevices.frost.com), U.S. Compression Therapy Market, finds that market earned revenues of over $673.7 million in 2008, and estimates this to reach $1.16 billion in 2015. The study covers market dynamics, revenue forecast analysis, and patient population trends for the static and dynamic compression therapy segments.
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Chronic venous disease (CVD) of the lower extremity affects an estimated 40 percent of the U.S. population, accounting to 4.6 million lost working days every year.
"Compression therapy has evolved to be the mainstay of treatment and management of chronic venous insufficiency and venous ulcers," explains Frost & Sullivan Research Analyst Archana Swathy. "Currently, compression therapy is being aggressively adopted in the prevention of post-operative deep vein thrombosis (DVT)."
As hospitals strive to control costs through early discharges, the demand for home-use therapy products is on the rise. Consumers are displaying a preference for multi-functional, high-quality products that also offer the benefits of reduced treatment time. The current market need is patient-friendly products that suit patient lifestyles and afford better compliance to therapy. The development of mobile compression systems will improve market prospects, as they will cater to consumers who intend to stay active even while undergoing therapy.
Aesthetically pleasing and easy-to-use compression garments will go a long way in enabling patient compliance to treatment. There also exists a pressing need to establish clinical evidence that highlights the advantages of intermittent pneumatic compression (IPC), in comparison with other treatment modalities. This approach would be beneficial in enhancing market penetration of dynamic compression products.
"There is a significant lack of differentiation among compression therapy products currently available in the market," observes Archana. "The need for highly distinctive products should ideally result in manufacturers developing compact portable devices that would significantly enhance the healing process."
The lack of sufficient awareness among healthcare practitioners about the significance of new compression technologies is restraining market progression. Building awareness among physicians and care providers regarding the benefits afforded by dynamic compression therapy, such as cost effectiveness and clinical efficiency, is vital for the growth of innovative technologies.
U.S. Compression Therapy Market is part of the Medical Devices Growth Partnership Service program, which also includes research in the following markets: U.S. Hip Implant Market, U.S. and Western Europe Adhesion Prevention Products Market, U.S. Soft Tissue Repair Markets - Meniscus and Cartilage, Cardiovascular Business Digest - U.S. Heart Valve Market, and U.S. Infusion Pumps Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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U.S. Compression Therapy Market / N5D4
Contact:
Jake Wengroff
Corporate Communications – North America
P: 210.247.3806 / F: 210.348.1003
E: jake.wengroff[.]frost.com.
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