An Incisive, In-depth Analysis on the Pressure Bandages Market
This study offers a comprehensive, 360 degree analysis on the Pressure Bandages market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Pressure Bandages market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Key insights on the global pressure bandages market
The global pressure bandages market revenue is expected to grow at a CAGR of 3.3% over the forecast period. Although the growth rate of the market is likely to remain sluggish during the study period, it has been observed that the global market for pressure bandages is likely to grow steadily between 2017 and 2027. To establish their presence in the global market, the key market players have adopted sound strategies like promotional campaigning and exhibitions. Long-term supply agreements with downstream players is the key differentiating strategy of companies operating in the global pressure bandages market.
Availability of expanded product lines along with growing adoption of products associated with advanced pressure bandages to boost the global market during the forecast period
To grab maximum market share, leading companies in the global pressure bandages market have started introducing new and expanded line of products. Since the past few years, the focus of pressure bandages manufacturers has shifted towards the introduction of advanced wound management treatment protocols. These advanced products have the ability to absorb moisture, thereby increasing the chances of healing the wound in a speedy manner.
The risk of developing vascular diseases is high among the obese population due to the pressure exerted by the weight of the body on various organs. The use of pressure bandage products is high among the obese population to protect themselves from venous disease and vascular ulcers. An increasing obese population across the globe is another factor fuelling the demand for pressure bandages.
Government spending on healthcare services has increased in the last few years. The adoption of pressure bandages has been growing among North America’s population. This factor is driving revenue growth of the pressure bandages market. Increasing incidents of chronic wounds especially in the U.S. is the result of a growing ageing population. In the year 2015, it was observed that in the U.S alone, around 72% patients were hospitalised owing to the presence of pressure ulcers. Rising cases of leg or foot ulcer and venous or pressure ulcers is further likely to propel the growth of the global market for pressure bandages.
High demand for low-frequency dressing change in acute care settings to act as a restraint in the growth of the global pressure bandages market
The usage of cotton gauze, which is a traditional wound management product has reduced of late, as compared to other synthetic products in acute care settings. Due to the possibility of contamination of the wound, caregivers prefer less frequent dressings. This particular factor is creating a negative impact on the worldwide market for pressure bandages. Also, people in certain regions are less aware about the treatment of foot ulcer, pressure ulcer and venous ulcer. People also tend to neglect the usage of bandages, which is the most important component of the treatment. A lack of awareness is likely to hamper the growth of the global pressure bandages market.
An increasing use of long stretch bandages by sportspersons is expected to fuel demand during the period of assessment
Of the different product types, short stretch bandages dominated the pressure bandages market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. On the other hand, with an attractiveness index of 0.6, the multi-layer compression systems segment is expected to remain the least attractive segment in the global market in revenue terms during projected period. The long stretch bandages segment is the fastest growing product type with a CAGR of 3.4% registered during the assessed period. One of the important factors boosting revenue growth of long stretch bandages is an increase in musculoskeletal injuries worldwide. Long stretch bandages provide constant pressure and constrict the veins. These bandages also prevent superficial blood clots in the treatment of phlebothrombosis and are hence popular especially among sportspersons.
This report on the global pressure bandages market studies the global as well as regional markets in detail. Our analysts have focussed on the various forecast factors and have offered their unique perspectives and assumptions on the forces driving the market. Pricing analysis, value chain analysis and a list of active participants is included in this report. To present a clear picture of the market to our clients, our analysts have included detailed information about market size, value forecast, drivers, restraints, trends and opportunities across all the seven regions that have been covered in this report. Apart from regional insights, we have also provided comprehensive information on various market segments and sub-segments. For a better understanding of the entire market, we have segmented the market based on product, application, raw material, distribution channel, and region.
A panoramic view of the global pressure bandages market provides detailed information on the global market size and revenue growth
This report includes an overview of the global pressure bandages market which consists of market size and forecast, Y-o-Y growth and absolute $ opportunity. The analysts have taken a 3600 view of the key market dynamics including micro-economic factors, supply and demand side drivers, restraints, opportunities and key trends impacting the global pressure bandages market. Another section of the report comprises the market definition and taxonomy. Product-wise Weighted Average Selling Price (ASP) has been considered to deduce market values. Top-down approach has been used to assess market numbers for each product category, while bottom-up approach has been used to counter validate the market estimations. We have taken inputs from sources such as the World Bank as well as various companies’ annual and financial reports while deriving data pertaining to the global pressure bandages market. Key market splits have been deduced from extensive surveys and primary research. Towards the end of the report, we have provided strategic recommendations for both existing and new market players to emerge sustainably profitable.
Market Taxonomy
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Thorough analysis of market numbers and revalidation of data is an exclusive feature of this report
Each primary interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of pressure bandages is deduced on the basis of the product type, where the average price of each type of pressure bandage is inferred across all the seven assessed regions. The market value of the global pressure bandages market is thus calculated from the data deduced from the average selling price and market volume. For the 10-year forecast of the global pressure bandages market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast include the size of the current market, inputs from the supply side and the demand side and other dynamics shaping the scenario of the global market. In the compilation of the report, the forecasts are conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the client with pertinent insights on future opportunities likely to emerge in the global pressure bandages market.
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