Product Launches, Acquisitions, and Agreements were the Key Growth Strategies Adopted by Leading Market Players in the Global Compression Therapy Market
The global compression therapy market is projected to reach USD 3.40 billion by 2022 from 2.70 billion in 2017, at a CAGR of 4.7% during the forecast period. Factors such as the growing target patient population, significant sports injuries & accidents across the globe, and technological advancements in the orthopedic industry are driving the growth of this market. However, the lack of universally accepted standards for compression products and lower patient compliance for compression garments are the key factors hindering the growth of the market.
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Analysis of the market developments between 2014 and 2017 (June) reveals that several growth strategies such as product launches, strategic acquisitions, agreements, partnerships, collaborations, and market expansions are adopted by the market players to strengthen their product portfolio and maintain a competitive position in the compression therapy market. Among these business strategies, product launches, acquisitions, agreements, and collaborations were the most widely adopted growth strategies by players in the market.
BSN medical (Germany) is the leader in the compression therapy market with its broad range of compression products. It provides bandages, stockings, and socks which are used to treat diabetes, lymphedema, and DVT. The company primarily focuses on acquisitions, product launches, and agreements to sustain its leadership position in the compression therapy market. The company also focuses on inorganic growth strategies such as agreements, strategic acquisitions, and collaborations. BSN medical collaborated with Ortopédicos Futuro Colombia SAS to strengthen its market position in Colombia, Ecuador, and neighboring compression therapy markets.
SIGVARIS (Switzerland) is involved in the manufacturing, marketing, and sales of medical compression garments. The company has its geographic presence in Germany, Austria, the U.K., Canada, China, Australia, and Mexico. To strengthen its market in the treatment of lymphedema and chronic venous insufficiency, the company is focusing on acquisitions and expansions. In 2016, SIGVARIS acquired Bia Care (U.S.), a manufacturer of compression therapy products to strengthen its market share in the global and North American compression therapy market.
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https://www.marketsandmarkets.com/Market-Reports/compression-therapy-market-146548022.html
The global compression therapy market is projected to reach USD 3.40 billion by 2022 from 2.70 billion in 2017, at a CAGR of 4.7% during the forecast period. Factors such as the growing target patient population, significant sports injuries & accidents across the globe, and technological advancements in the orthopedic industry are driving the growth of this market. However, the lack of universally accepted standards for compression products and lower patient compliance for compression garments are the key factors hindering the growth of the market.
Download FREE Brochure:
https://www.marketsandmarkets.com/pdfdownload.asp?id=146548022
BSN medical (Germany) is the leader in the compression therapy market with its broad range of compression products. It provides bandages, stockings, and socks which are used to treat diabetes, lymphedema, and DVT. The company primarily focuses on acquisitions, product launches, and agreements to sustain its leadership position in the compression therapy market. The company also focuses on inorganic growth strategies such as agreements, strategic acquisitions, and collaborations. BSN medical collaborated with Ortopédicos Futuro Colombia SAS to strengthen its market position in Colombia, Ecuador, and neighboring compression therapy markets.
SIGVARIS (Switzerland) is involved in the manufacturing, marketing, and sales of medical compression garments. The company has its geographic presence in Germany, Austria, the U.K., Canada, China, Australia, and Mexico. To strengthen its market in the treatment of lymphedema and chronic venous insufficiency, the company is focusing on acquisitions and expansions. In 2016, SIGVARIS acquired Bia Care (U.S.), a manufacturer of compression therapy products to strengthen its market share in the global and North American compression therapy market.
Know More:
https://www.marketsandmarkets.com/Market-Reports/compression-therapy-market-146548022.html
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