Static compression therapy
products are highly effective in the treatment of varicose veins and spider
veins. The adoption of compression bandages is higher compared to compression
socks and stockings due their low cost. Stockings used in static compression
therapy are effective in the treatment of varicose veins and spider veins.
Socks are effective for leg pain in diabetic patients.
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
Increasing prevalence of venous
ulcers and other vein diseases is expected to propel growth of India static
compression therapy market over the forecast period. For instance, according to
the study, ‘Estimation of Prevalence of Varicose Veins Formation and Associated
Risks in North Indian Population’, published in 2019 in Research & Reviews:
A Journal of Health Professions, the prevalence of varicosities formation was
noted high in the Northern Indian population with around one-third of women (in
the study group) and one fifth of men found affected by this disorder.
India Static Compression Therapy
Market: Opportunities
Older debilitated patients with
comorbidities find it difficult to use compression stockings. Market players
can focus on developing products that are convenient for the geriatric age
group to enhance their market share.
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India Static Compression Therapy Market:
Restraints
Availability of substitutes is
expected to hider growth of India static compression therapy market. The
substitute for static compression therapy is dynamic compression therapy.
Moreover, increasing use of compression devices could hamper demand for bandages
and stockings.
Key Takeaways:
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. The compression bandages provide compression to the injured blood
vessels by facilitating blood clot formation, thereby treating rapid blood loss
or haemorrhage. Compression bandages are highly suited at stabilizing wounds on
limbs. The bandages also find application in treating venomous snake bites, to
avoid venom progression into the bloodstream. Pressure bandages are ideal
emergency tools for severe injuries such as sports injuries and accidents.
The retail pharmacies segment
held dominant position in India static compression therapy market in 2018,
accounting for 63.6% share in terms of value, followed by online pharmacies.
There is a presence of large number of retail pharmacies in the country who
readily make available newer products in the market. Moreover, increasing
spending capacity of the population is also expected to support growth of the
segment over the forecast period.
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Market Trends
Major players in the market are
offering sizing mobile apps. For instance, Sigvaris AG offers Sizing App, which
helps users find the suitable compression stockings and provides size recommendations
and product suggestions.
The use of static compression
therapy in gym is a new trend. It helps to increase blood flow to specific
parts of the body, thereby providing more oxygen and nutrients to those areas
for speedy recovery, relieving pain, and improving performance during various
gym activities.
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
Major players in the market are
focused on launching new products to expand their product portfolio. For instance,
in May 2018, Sigvaris AG launched DELILAH, a support stockings in the
fine-structured 140D FLAT.
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