Compression Bandages Market Size, Share & Industry Analysis, By Product (Short Stretch Bandages, Long Stretch Bandages, Multilayer Compression Bandages), By Material (Polyester, 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 2019-2032

The global compression bandages market size was valued at USD 1.21 Billion in 2018 and is projected to reach USD 2.53 Billion by 2032, exhibiting a CAGR of 5.4% during the forecast period (2018-2032). Europe dominated the compression bandages market with a market share of 28.13% in 2018.

The concept of compression therapy is based on the simple and effective principle of applying elastic bandage around the leg for the reduction of edema, chronic wounds, and deep vein thrombosis. The potential ability of compression therapy on ulcer treatment has been highlighted in various studies across the world for the past few decades. In simple words, compression therapy involves squeezing of the limbs, thereby reducing edema and aiding venous ulcers.

In the current market scenario, local and multinational companies are involved in manufacturing, distributing, and supplying different varieties of compression bandages. The companies are now focused on the development of cost-effective, user-friendly, therapeutically effective, and advanced compression bandages for the patients suffering from chronic venous ulcers, lymphedema, and deep vein thrombosis. Increasing prevalence of lymphedema, venous ulcers, and deep vein thrombosis worldwide has been a rising concern. It is thus, increasing the demand for effective compression bandages.

Compression therapy has helped the market players to draw an effective strategy for the technological development and manufacturing of effective compression bandages. Owing to high demand for compression bandages, the sales and distribution of the companies are set to grow at a faster rate. The current compression bandages market trends include bandage pressure optimization and conducting awareness campaigns. Besides, the companies are manufacturing strong pressure bandages for the treatment of lymphedema, deep vein thrombosis, and chronic leg ulcers.

MARKET DRIVERS

“Increasing Prevalence of Chronic Wounds and Lymphedema to propel the Compression Bandages Market”

Venous ulcers are considered to be a common chronic disorder that, over the time, leads to venous incompetence, leucocyte plugging of the capillaries, lipodermatosclerosis, tissue hypoxia, and microvascular dysfunction if untreated. Venous leg ulcers are extremely common in the United States. There is also a rising incidence of venous diseases, such as DVT and venous ulcers in the European countries. According to the National Health Service (NHS), chronic venous leg ulceration has an estimated prevalence of 0.1% to 0.3% in the U.K., while the disease affected 0.1% of the population in France in 2016.

Lymphedema is another prominent disease indication for which compression bandages are highly preferred. According to the NHS, approximately 200,000 people are affected by lymphedema in U.K. annually. Hence, the rising prevalence of lymphedema and chronic wounds worldwide is projected to boost the uptake of compression bandages during the forecast period.

 “Introduction of clinically effective pressure bandages by key manufacturers to drive the compression bandages market”

The optimal management of edema associated with venous diseases and lymphedema is essential to improve the quality of life. Compression therapy is a principal treatment option for such disorders which reduces and stabilizes the swellings in legs, arms, etc. Various medical device companies, such as Smith & Nephew Plc, BSN Medical, etc. are engaged in introducing novel compression bandages for the clinical management of wounds, venous diseases, and lymphedema in a cost-effective manner.

The effectiveness of compression bandages depends on the pressure it exerts on the affected area. The manufacturers are thus emphasizing on introducing compression bandages of a broader pressure-range. The companies are also manufacturing compression bandages using a blend of more than two materials to improve their elasticity. The newly introduced bandages are made up of cotton, polyester, and elasticated yarn, used in varying amounts to differentiate stretch. Moreover, the emergence of manufacturers of compression bandages in developing countries is projected to improve the accessibility of the products throughout the world in the coming years, which in-turn will have a positive impact on the overall market.

SEGMENTATION

By Product Analysis

“Short Stretch Bandages to Generate the Highest Revenue in the Coming Years”

Based on product, the market segments include short stretch bandages, long stretch bandages, and multilayer compression bandages.

Among these, short stretch bandages held a dominating market share in the year 2018 owing to their preference due to their reusability and cost-effectiveness. Long stretch compression bandages segment is expected to register a higher CAGR owing to the gradual shift of patients and healthcare professionals towards long stretch compression bandages during the forecast period.

On the other hand, demand for multilayer compression bandage is also expected to surge during the forecast period owing to its greater usability in patients with chronic wounds and lymphedema. The multiple layers provide larger elasticity and support for immediate cure of the diseases.

By Material Analysis

“Cotton to Exhibit a Remarkable CAGR During the Forecast Period”

In terms of material, the market segments include polyester, latex, cotton, and others. Latex segment accounted for the highest market share in 2018. However, significant penetration of cotton short stretch bandages is anticipated to boost the cotton segment in the forecast period.

Compression bandages are manufactured using latex to increase its durability, elasticity, and effectivity. Due to rising latex allergy in patients, manufacturers are now focusing on the development of latex-free compression bandages. Cotton offers a variety of advantages over latex and polyester as it is soft and durable. Cotton padding, along with polyester layer of the compression bandage, offer greater elasticity and required pressure. Cotton also has the ability to sustain higher pressure that is applied for the treatment of venous ulcers and lymphedema. Owing to the demand for latex-free compression bandages, the demand for cotton is growing and thus it will increase the revenue of cotton in the forecast period.

By Application Analysis

“Deep Vein Thrombosis is Anticipated to Exhibit Maximum CAGR During the Forecast Period”

Various applications include wound management, deep vein thrombosis (DVT), lymphedema, and others. Lymphedema segment dominated the compression bandages market in 2018. The growth is attributed to the increasing prevalence of breast cancer, which will boost the risk of lymphedema in the population during the forecast period. However, deep vein thrombosis is anticipated to register a higher CAGR during the forecast period.

An accurate medical diagnosis is essential for the effective treatment of lymphedema. Compression bandages help in reducing the capillary filtration, increasing lymphatic reabsorption, and improving venous pumps of the lymphatic patients. Rising lymphedema patients in the developed as well as in emerging market, is likely to boost the overall market. Additionally, leg ulcer wounds are the major occurrence of chronic wounds. It represents that 70% - 90% of leg ulcers would uplift the use of compression bandages and propel the global elastic bandages market during the forecast period.

By End-user Analysis

“Hospitals and Ambulatory Surgical Centers to Lead the Compression Bandages Market”

On the basis of end-user, the market is categorized into hospitals and ambulatory surgical centers, clinics, nursing care centers & skilled nursing facilities, home care, and others. Among these, the hospitals and ambulatory surgical centers segment dominated the market in 2018. The home care segment is likely to register a lift by 2026, marking a faster CAGR.

Patients with lymphedema, deep vein thrombosis, and venous ulcers initially approach hospitals or ambulatory surgical centers for treatment. Owing to skilled healthcare professionals and trained nurses in the hospitals, patients receive effective and appropriate treatment. Also, quicker availability of important types of compression bandages and provision of cost-effective bandages would set the hospital & ambulatory surgical centers to lead the compression bandages market. Moreover, due to direct availability of compression bandage to the consumers in the coming years, along with dressing facilities provided by nurses to the consumers is expected to have a faster growth of the home care segment during the forecast period.

REGIONAL ANALYSIS

North America generated the highest revenue in 2018 with the highest market share in the global market. It is anticipated to continue its dominance during the forecast period attributing to the rising geriatric population affected by venous diseases in the region. The increased prevalence of lymphedema, deep vein thrombosis, and chronic leg ulcers has increased the usage of compression bandages in the region. It is responsible for the higher market growth. Moreover, the presence of major players in the U.S. and easy accessibility of compression bandages is contributing to the market growth in the region.

Asia Pacific, on the other hand, is anticipated to register a faster growth with the highest CAGR in the global market. China and India are considered to exhibit the higher CAGR during the forecast period. The penetration of market players, constant efforts in launching effective compression bandages, and rising government initiatives to increase awareness regarding the management of chronic wounds, lymphedema, and DVT would uplift the elastic compression bandages market in the region.

Europe generated a revenue of USD 340.4 Million in 2018 owing to the larger presence of compression global bandage manufacturers, availability of a variety of compression bandages, and greater awareness among the population about effectual management of venous ulcers and lymphedema. Latin America and the Middle East would exhibit a comparatively slower growth rate owing to the lack of awareness and reach of compression bandages to the population in the region. Also, dearth of skilled nurses for application of compression bandages is expected to hinder the market growth in the region.

INDUSTRY KEY PLAYERS

“Essity (BSN medical GmbH), Paul Hartmann AG, and Smith & Nephew plc dominated global market”

Essity (BSN medical GmbH) is actively developing clinical and cost-effective compression bandages for the patients to treat venous ulcers, lymphedema, and deep vein thrombosis. Products such as JOBST, Comprilan, ELODUR, and others help in managing edema and ulcers effectively. Along with its strong, diverse product portfolio, company is leading in the global market. Paul Hartmann AG is also one of the leading medical devices company with its expertise in wound management and compression therapy. Paul Hartmann’s diverse product portfolio of short stretch, long stretch, and multilayer compression bandages is in huge demand in the global compression bandage market.

List Of Key Companies Covered:

• Essity (BSN medical GmbH)


• Paul Hartmann AG


• Smith & Nephew plc


• Mölnlycke Health Care AB


• Lohmann & Rauscher GmbH & Co. KG


• B. Braun Melsungen AG


• 3M


• Cardinal Health


• ConvaTec Group PLC


• Other Prominent Players

REPORT COVERAGE

Increased prevalence of venous ulcers, lymphedema, and deep vein thrombosis along with an effort to introduce clinically effective compression bandages by market players for successful management of associated disease indications are anticipated to increase the global compression bandage market value during the forecast period.

Along with this, the report provides an elaborative analysis of the compression bandages market dynamics and competitive landscape. Various key insights presented in the report are the prevalence of key indications, cost burden of chronic wounds, new developments in wound care, pricing overview- end-user, margin data, key industry development, SWOT analysis, competitive landscape, and company profiles.

Report Scope & Segmentation

INDUSTRY DEVELOPMENTS:

• June 2019: Milliken & Company announced the acquisition of Andover Healthcare, Inc., one of the leading providers of compression systems and cohesive bandages to provide innovative and comprehensive solutions for patient care.


• May 2019: 3M entered into a definitive agreement for the acquisition of Acelity Inc. and its KCI subsidiaries to expand its presence in compression bandages and wound care market.


• January 2019: Mölnlycke Health Care AB acquired M&J Airlaid Products A/S, which will enable the company to diversify its product portfolio and enhance R&D capabilities.


• January 2018: Lohmann & Rauscher International GmbH & Co. KG acquired the compression division SWISSLASTIC AG ST. GALLEN, which resulted in inclusion of the company’s wound care products into Lohmann & Rauscher International GmbH & Co. KG portfolio.