India Static Compression Therapy Market Research focuses on the key trends prevailing in the India Static Compression Therapy Industry sector. The existing Industry scenario has been studied and future projections with respect to the sector have also been investigated. Market study report comprises evaluation of numerous influential factors including industry overview in terms of historic and present situation, key manufacturers, product/service application and types, key regions and marketplaces, forecast estimation for global market share, revenue and CAGR.
𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/3532
Compression therapy is a proven medical treatment for various types of edema. It benefits many different patients. There are many different types, and the type of treatment that are depend on several factors, including mobility, exercise level, and the needs of body. Compression therapy is a medical procedure that helps improve circulation and ease symptoms associated with venous illness. It’s an effective treatment for spider veins, leg sores, and heavy feet. It also increases the effectiveness of prescribed treatments and doesn’t have any harmful side effects.
India static compression therapy market is estimated to account for US$ 138.6 Mn in terms of value in 2019 and is expected to reach US$ 241.8 Mn by the end of 2027.
India Static Compression Therapy Market: Drivers
Growing incidence of diabetes is uplifting growth of India static compression therapy market. For instance, according to the National Diabetes and Diabetic Retinopathy Survey report published in October 2019, the prevalence of diabetes in India was 11.8% during 2015-2019 and the prevalence of known diabetes cases was 8.0% and new diabetes cases was 3.8% during the period.
Moreover, growing aging population is again expected to aid in growth of the market. For instance, according to the United Nations April 2019 data, the share of geriatric population in India is expected to increase to nearly 20% in 2050
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 @ https://www.coherentmarketinsights.com/insight/request-pdf/3532
India Static Compression Therapy Market: Restraints
Lower healthcare spending is projected to restricted growth of India static compression therapy market. For instance, according to the National Health Profile 2019 released in November 2019, in 2016, public spending on health was 1.17% of the GDP, whereas nations classified as Lower Income Countries by the World Bank spent 1.57% of their GDP on health that year.
Moreover, lack of knowledge and low awareness regarding the use of the static compression products such as bandages and stockings is projected to hinder growth of the market.
India Static Compression Therapy Market: Opportunities
Players in the market are focusing on raising product awareness with major focus on expanding the distribution channel through strategic partnerships.
Moreover, correct usage of compression bandages requires trained professionals. However, India has a poor doctor-patient ratio. Therefore, proper training is expected to aid in growth of the market.
Compression bandages segment in India static compression therapy market was valued at US$ 78.3 Mn in 2018 and is expected to reach US$ 148.4 Mn by 2027 at a CAGR of 7.4% during the forecast period.
Market Trends/Key Takeaways
There is a low product awareness regarding stockings. Sales of diabetic socks and stockings is comparatively higher through online pharmacies, whereas sales of bandages is higher through retail pharmacies, due to higher availability and accessibility to this channel in semi urban and remote areas. This trend is changing and more users are adopting online pharmacies and online company stores to make purchases.
The product awareness for bandages is high in India, whereas as that for socks is moderate. Shift in the adoption rate of static compression therapy products is slow. Adoption rate of stockings and diabetic socks is growing and is projected to outpace that of compression bandages. This is due to ease of wearing compression garments and availability of newer fashionable stockings in the market.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐮𝐥𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 (Flat USD 2000 OFF)@ https://www.coherentmarketinsights.com/promo/buynow/3532
India Static Compression Therapy Market: Competitive Landscape
Major players operating in India static compression therapy market include, 3M, BSN Medical, Sigvaris AG, and Vissco Healthcare.
India Static Compression Therapy Market: Key Developments
Key players in the market are focused on introducing new products to expand their product portfolio. For instance, in April 2018, Sigvaris AG launched the new version of SAMSON stockings for women and men with new colors, improved characteristics, and a new look. The product is has skin-friendly cotton that keeps away moisture and offers long lasting comfort.
𝐀𝐛𝐨𝐮𝐭 𝐂𝐨𝐡𝐞𝐫𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
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