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India Static Compression Therapy Market Analysis| Coherent Market Insights

Compression bandages segment in India static compression therapy market is estimated to reach at CAGR of 7.4% during the forecast period.

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India Static Compression Therapy Market Analysis| Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. INDIA STATIC COMPRESSION THERAPY MARKET ANALYSIS India Static Compression Therapy Market,ByProduct Type (Compression Bandages, Compression Garments (Upper Garments, Lower Garments (Compression Stockings, Diabetic Socks))), By Distribution Channel (Retail Pharmacies, Online Pharmacies) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. 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. Drivers • High incidence of diabetes is expected to aid in growth of India static compression therapy market over the forecast period. 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, increasing geriatric population is also 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

  4. Market Restraints • Lower healthcare spending is expected to hinder 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 about the use of the static compression products such as bandages and stockings is expected to hinder growth of the market.

  5. Market Opportunities • Players in the market may focus on increasing product awareness with major focus on enhancing the distribution channel through strategic partnerships. • Moreover, correct application 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.

  6. Market Trends • The product awareness for stockings is low.Salesof diabetic socks and stockings is comparatively higher through online pharmacies,whereassales of bandages is higher through retail pharmacies,owingto higher availability and accessibility to this channel in semi urban and remote areas. This trend is changing and more users are opting for 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.Shiftin the adoption rate of static compression therapy products is slow. Adoption rate of stockings and diabetic socks is increasing and is expected to outpace that of compression bandages. This is attributed to ease of wearing compression garments and availability of newer fashionable stockings in the market.  

  7. Competitive Section Major players operating in India static compression therapy market include, 3M, BSN Medical, Sigvaris AG, and Vissco Healthcare.

  8. Key Developments Major players in the market are focused on launching 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.

  9. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference: https://www.coherentmarketinsights.com/market-insight/india-static-compression-therapy-market-3532

  10. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  11. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

  12. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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