Fortune Business Insights has published a premium research report on, 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 global Compression Bandages Market is projected to gain momentum from the rising incidence of deep vein thrombosis, venous ulcers, and lymphedema. The market is projected to reach USD 1.84 Billion by 2026, thereby exhibiting a CAGR of 5.3% during the forecast period.
list of key companies mentioned in asthma drugs market report,
- Essity (BSN medical GmbH)
- Paul Hartmann AG
- Smith & Nephew plc
- Mölnlycke Health Care AB
- Lohmann & Rauscher GmbH & Co. KG
- Braun Melsungen AG
- Cardinal Health
- ConvaTec Group PLC
- Other prominent players
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.
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.
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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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