United Kingdom Wound Care Management Market Outlook to 2017 - Advanced Wound Management, Wound Closure Devices, Pressure Relief Devices and Others
- Published: January 2012
- Region: Great Britain, United Kingdom
This Frost & Sullivan research service titled Compression Therapy Devices Market in Western Europe provides comprehensive analysis of the total market including key industry challenges, market drivers and restraints. The main segments covered include static and dynamic compression therapy devices. Also covered are forecasts and trends across different geographic regions including Germany, the United Kingdom, France, Italy, Spain, Benelux and Scandinavia.
An Ageing Population and Technological Developments Drive Compression Therapy Devices Market
The Western European compression therapy devices market is in its growth phase, bolstered by an ageing population and the increasing number of patients with venous and lymphatic conditions. Better understanding of pathologies and treatment options, paralleled by the demand for early diagnosis and prevention, will further boost market prospects.
Nearly a quarter of Western Europe’s population is over 60 years. This demographic group will be a primary end user of compression therapy devices due to the high incidence of venous and lymphatic conditions among them. “Technological advances in material science and chemistry, such as improvements in synthetic materials, along with heightened awareness about the proper application of compression garments, will support the effective treatment of venous and lymphatic conditions, improved compliance and overall market expansion”, notes the analyst of this research. “Technological advances will also have a particularly beneficial impact on the stockings segment; high-quality, easy-to-apply, comfortable products with excellent aesthetic appearance will result in enhanced penetration rates”. While favourable demographic factors will be a key market driver, greater awareness about compression therapy as a standard treatment procedure for venous and lymphatic conditions will further advance market prospects. Furthermore, pressure to reduce the costs associated with the treatment of chronic venous insufficiencies will boost demand for compression therapy devices.
Selective Reimbursement and Low Awareness Pose Challenge to Market Expansion
Leveraging the market’s considerable growth potential will depend on healthcare professionals and patients being aware of this treatment method. “Although awareness about compression therapy for venous and lymphatic conditions is increasing, it still remains low, especially in home care and community care settings,” explains the analyst. “If physicians need to recommend and prescribe this therapy, then there needs to be frequent and strong interaction between medical professionals, manufacturers and patient groups.” Another challenge to the overall market pertains to regional variations in reimbursement. For instance, across most of Italy, there is no reimbursement for bandages and elastic stockings. In France, only a proportion of the cost is reimbursed while, in countries like Spain, there is no reimbursement for dynamic compression devices.
As competition intensifies, manufacturers will have to focus on offering value-added services. Direct interaction will promote brand awareness among user groups and has the potential to expand the use of compression therapy devices, especially in regional markets. “A key strategy would be for large multinational companies to acquire small market participants, while smaller companies with state-of-the-art offerings could also enter into synergistic partnerships,” concludes the analyst. “This approach would help companies expand their services and product portfolio and expand their client base.”
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Static compression therapy devices
- Dynamic compression therapy devices
By Geographical Region
- United Kingdom
- Scandinavia SHOW LESS READ MORE >
1. Executive Summary
2. Market Overview
3. Total Compression Therapy Devices Market
3.1 External Challenges: Drivers and Restraints
3.2 Forecasts and Trends
3.3 Market Share and Competitive Analysis
4. Static Compression Therapy Devices Segment Breakdown
5. Dynamic Compression Therapy Devices Segment Breakdown
6. Germany Breakdown
7. The United Kingdom Breakdown
8. France Breakdown
9. Italy Breakdown
10. Spain Breakdown
11. Benelux Breakdown
12. Scandinavia Breakdown
13. The Last Word (Conclusions and Implications)