Pressure Bandages Market Size Estimated to Reach $279.8 Million by 2026

NewYork, NY -- (SBWire) -- 10/13/2021 --Pressure Bandages Market size is estimated to reach $279.8 million by 2026, growing at a CAGR of 4.8% during the forecast period 2021-2026. Pressure bandages are an essential first-aid technique used in healthcare settings to assist healing after a serious injury. These bandages provide compression by facilitating blood clot formation to the injured blood vessels. Pressure bandages are increasingly being adopted in hospitals and home care settings owing to the rise in the incidences of deep vein thrombosis and leg ulcers. The rise in the adoption of short stretch bandages that deliver high working pressure and low resting at the site of application, increase in awareness about the benefits of polyester multi-layer compression systems, rise in the recommendation of pressure bandages for the treatment of leg ulcers to reduce pain and swelling, and the growing investment by the key players to develop advanced pressure bandages are the factors that are set to drive the growth of the Pressure Bandages Market for the period 2021-2026.

Pressure Bandages Market Segment Analysis-By Product Type

The Pressure Bandages Market based on the Product Type can be further segmented into Short Stretch Bandages, Long Stretch Bandages, and Multi-layer Compression Systems. The Short Stretch Bandages segment held the largest share in 2020 owing to the factors such as the increase in the demand for short stretch bandages that deliver high working pressure and low resting at the site of application and the rise in the adoption of low-elasticity bandages. The cost-effectiveness of the short stretch bandages is driving the growth of the Pressure Bandages Market. The Multi-layer Compression Systems segment is estimated to be the fastest-growing segment with a CAGR of 5.4% over the period 2021-2026. This growth is owing to the factors such as the growing awareness about the benefits of multi-layer compression systems and the rise in the research and development activities to develop advanced multi-layer compression systems.

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Pressure Bandages Market Segment Analysis-By Application

The Pressure Bandages Market based on the Application can be further segmented into Lymphedema, Deep Vein Thrombosis, Leg Ulcers, and Others. The Leg Ulcers segment held the largest share in 2020 owing to the factors such as the growing demand for polyester short stretch bandages for the treatment of leg ulcers and the rise in the incidences of chronic leg ulcers. The increase in the recommendation of pressure bandages for the treatment of leg ulcers to reduce pain and swelling is driving the growth of the Pressure Bandages Market. The Deep Vein Thrombosis segment is estimated to be the fastest-growing segment with a CAGR of 5.7% over the period 2021-2026. This growth is owing to the factors such as the rise in the demand for multi-layer compression systems and the growing adoption of convenient pressure bandages for the treatment of deep vein thrombosis.

Pressure Bandages Market Segment Analysis-By Geography

The Pressure Bandages Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 29% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the adoption of short stretch bandages that deliver high working pressure and low resting at the site of application and the growing demand for polyester multi-layer compression systems. The increasing adoption of convenient pressure bandages for the treatment of deep vein thrombosis is driving the growth of the Pressure Bandages Market. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the demand for polyester short stretch bandages for the treatment of leg ulcers and the growing investment by the key players to develop advanced pressure bandages.

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Pressure Bandages Market Drivers

Rise in the Incidences of Chronic Leg Ulcers.

The rise in the incidences of chronic leg ulcers has propelled the demand for pressure bandages owing to the increase in the recommendation of pressure bandages for the treatment of leg ulcers to reduce pain and swelling. Short stretch bandages made with polyester are increasingly being adopted for the treatment of various leg ulcers, which is one of the major factors driving the growth of the Pressure Bandages Market.

Increase in the Demand for Convenient Pressure Bandages.

Pressure bandages are highly extensible, easy to apply, and can accommodate changes in leg expansion, geometry, and contraction to allow easy movement. These bandages also sustain pressure for extended periods and allow optimal management of various diseases. Moreover, the key players are focusing on developing convenient polyester multi-layer compression systems, which is further propelling the growth of the Pressure Bandages Market.
Pressure Bandages Market Challenges

Rise in the Adoption of Low-frequency Dressings.

The key players in the market are increasing their investment to carry out various research and development activities for developing advanced short stretch bandages, long stretch bandages, and multi-layer compression systems. However, the rise in the adoption of low-frequency dressings in acute care settings owing to the possibility of contamination of wounds is one of the major factors that is estimated to reduce the growth of the Pressure Bandages Market.

Pressure Bandages Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Pressure Bandages Market. Key companies of this market are Medtronic Plc, 3M, ConvaTec, Inc, Johnson & Johnson, Nitto Denko Corporation, BSN Medical, Persys Medical, Cardinal Health, Inc, Stryker Corporation, and Becton Dickinson and Company among others.

Acquisitions/Product Launches:

In January 2020, ConvaTec, Inc has launched ConvaMax™ pressure bandages that are used in the management of highly exuding wounds, such as pressure ulcers, leg ulcers, dehisced surgical wounds, and diabetic foot ulcers.

Key Takeaways

Geographically, the North America Pressure Bandages Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of polyester multi-layer compression systems.

The increase in the demand for short stretch bandages that deliver high working pressure and low resting at the site of the application is driving the Short Stretch Bandages segment. However, the rise in the adoption of low-frequency dressings in acute care settings is one of the major factors that is said to reduce the growth of the Pressure Bandages Market.

Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Pressure Bandages Market report.

Related Reports:

A. Adhesive Bandages Market

https://www.industryarc.com/Report/15278/adhesive-bandages-market.html

B. Medical Dressings Market

https://www.industryarc.com/Report/16157/medical-dressings-market.html

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