Spain Compression Bandages and Wraps Market Report 2031
The Spain compression bandages and wraps market size is projected to reach US$ 42.68 million by 2031 from US$ 33.09 million in 2023. The market is expected to register a CAGR of 3.2% during 2023–2031. Advancements in compression bandages are likely to remain as one of the key trends in coming years.
Spain Compression Bandages and Wraps Market Analysis
The factors supporting the growth of the market include increasing sports participation and active lifestyle as well as the ease of use and the high efficacy of the treatment, expanding the popularity of these products in the medical field. The availability of patient-friendly compression therapy products, such as compression bandages, contributes to market growth. The rise in R&D activities by manufacturers to create compression products that are easy to use and available in different designs for treating trauma or pain management plays a major role in growing the market.
Spain Compression Bandages and Wraps Market Overview
Many athletes and individuals with active lifestyles use compression bandages to prevent injuries caused by sports. The surge in sports and fitness engagement is one of the factors that fuel the growth of the Spain compression bandages and wraps market. As participation in sports increases, the incidence of sports-related injuries and muscle fatigue decreases. As per the Statistics 2022, Survey of Sporting Habits In Spain 2022, the results in the 2022 edition of the Survey of Sporting Habits indicate that approximately 6 out of 10 people aged 15 years old and over practiced sports in the last year, accounting for 57.3% either regularly or occasionally. The participation rates in sports clearly show that those who usually play sports do it frequently; 23.8% of the population do it daily, and 52.5% at least once a week. Furthermore, 56.2% of the population play sports at least once a month and 56.7% at least once a quarter. Athletes and fitness enthusiasts in Spain increasingly turn to compression garments to expedite recovery and enhance performance, supporting the demand for compression therapy products.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Spain Compression Bandages and Wraps Market: Strategic Insights
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Spain Compression Bandages and Wraps Market: Strategic Insights
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Spain Compression Bandages and Wraps Market Drivers and Opportunities
Increasing Cases of Venous Conditions
Obesity, physical inactivity, prolonged sitting, and other lifestyle factors are identified as contributing factors in the development of venous disorders such as leg ulcers, varicose veins, and deep vein thrombosis. A study titled “Validity of Chronic Venous Disease Diagnoses and Epidemiology Using Validated Electronic Health Records from Primary Care,” published in 2021 in the National Center for Biotechnology Information (NCBI), conducted in Spain, Catalonia, surveyed a population of 5.8 million and reported more than 5.6% of the total prevalence and incidence of varicose veins. The prevalence rates for chronic venous disease, chronic venous insufficiency, and venous leg ulcer were 9.54%, 3.87%, and 0.33%, respectively. The incidence rates for chronic venous disease, chronic venous insufficiency, and venous leg ulcer were 7.91/1,000 person-years; 3.37/1,000 person-years; and 0.23/1,000 person-years; respectively. As per Statista, in 2020, more than 500,000 women aged 65–74 were diagnosed with varicose veins in Spain. The prevalence of venous disease is increasing with age, with the highest rates observed in individuals aged 65 and above. With growing chronic venous disease, there is a substantial patient base seeking compression therapy products for effective treatment and management. Further, as per a study titled “An estimate of the economic burden of venous leg ulcers associated with deep venous disease,” published in 2021 in NCBI, the total annual incidence of new or recurrent deep venous disease-related venous leg ulcers (DRV) in Spain was found to be at 85,000 in 2019. The majority of leg ulcers are caused by problems in the veins, leading to an accumulation of blood in the legs. People suffering from venous disorders apply these bandages and wraps with the goal of increasing blood flow in the veins and facilitating the return of blood to the heart. This aids in preventing the buildup of fluid in the tissues, especially in cases of fluid retention-induced swelling. Compression wraps involve applying several layers of bandages to provide gradual compression. Also, compression bandages are wrapped with gradient pressure to treat and prevent varicose veins, venous leg ulcers, and deep vein thrombosis. Thus, the rising cases of various venous diseases drive the Spain compression bandages and wraps market.
Growing Initiatives to Raise Awareness Among Medical Professionals
Initiatives by various organizations across Spain help promote awareness regarding the use of compression therapy and compression products, including bandage pressure optimization. The strong pressure bandages can be utilized for the treatment of venous leg ulcers, lymphedema, and deep vein thrombosis. Patients who develop venous leg ulcers experience substantial suffering and a reduced quality of life. Many patients suffering from leg ulcers are not receiving the appropriate treatment, resulting in delayed healing times, a higher risk of complications, and treatment costs. Awareness campaigns and events are essential to raise knowledge and advance the understanding and management of venous leg ulcers among healthcare professionals. Through collaboration, education, and practical training, these events have significantly contributed to improving patient outcomes and the quality of wound care across Spain.
In 2023, Five Leg Ulcer & Compression Days Events were conducted across Spain from April to November. These events were held in Madrid, Santiago de Compostela, Vigo, Valencia, and Alicante. The training targeted nurses were the key decision-makers regarding the compression systems used for patients in Spain. In total, 490 nurses participated in these remarkable training sessions, with 180 attendees in Madrid and 310 in the sessions held in November. The Leg Ulcer & Compression Days include workshops, symposia, and webinars that are dedicated to medical professionals, such as specialists, general practitioners, and nurses, dealing with patients having leg ulcers
. The key objectives of these training sessions are listed below:
- Increasing Awareness: The events highlight the country's high incidence of venous leg ulcers and the lack of suitable treatment for affected individuals.
- Guideline Adherence: Participants were educated on the most recent clinical guidelines and evidence-based practices recommended for managing venous leg ulcers.
- Hands-on Workshops: Practical workshops were held to demonstrate appropriate diagnosis techniques and the application of compression products, encouraging healthcare professionals to deliver effective care to patients.
These events served as a pivotal training session to increase awareness about the critical importance of early diagnosis and prompt treatment of venous leg ulcers, as well as the importance of compression products. Therefore, growing initiatives to raise awareness among medical professionals are likely to create opportunities for the Spain compression bandages and wraps market growth in the coming years.
Spain Compression Bandages and Wraps Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Spain compression bandages and wraps market analysis are product, application, and end user.
- Based on product, the Spain compression bandages and wraps market is bifurcated into bandages and wraps. The bandages segment held a larger market share in 2023 and is expected to register a higher CAGR in the market during 2023–2031.
- By application, the market is segmented into wound management, deep vein thrombosis, lymphedema, and others. The deep vein thrombosis segment held the largest share of the market in 2023. The lymphedema segment is expected to register the highest CAGR in the market during 2023–2031.
- Based on end user, the Spain compression bandages and wraps market is divided into hospitals and clinics, ambulatory surgical centers, home care, and others. The hospitals and clinics segment dominated the market in 2023 and is expected to register the highest CAGR during 2023–2031.
Spain Compression Bandages and Wraps Market Report Scope
Spain Compression Bandages and Wraps Market Report Coverage and Deliverables
The “Spain Compression Bandages and Wraps Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Spain compression bandages and wraps market size and forecast at the country level for all the key market segments covered under the scope
- Spain compression bandages and wraps market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Spain compression bandages and wraps market analysis covering key market trends and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Spain compression bandages and wraps market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The estimated value of the Spain compression bandages and wraps market can reach US$ 42.68 million by 2031.
Increasing occurrence of venous conditions and growing incidence of cancer leading to lymphedema are the most influential factors responsible for the market growth.
Essity AB, Paul Hartmann AG, Smith & Nephew Plc, Bimedica, Molnlycke Health Care AB, B Braun SE, 3M Co, Calvo Izquierdo SL, Cardinal Health Inc., and Convatec Group Plc are among the key market players in the Spain compression bandages and wraps market.
The Spain compression bandages and wraps market is estimated to register a CAGR of 3.2% from 2023 to 2031.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Spain Compression Bandages and Wraps Market Landscape
4.1 Overview
4.2 PEST Analysis
5. Spain Compression Bandages and Wraps Market – Key Market Dynamics
5.1 Spain Compression Bandages and Wraps Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Cases of Venous Conditions
5.2.2 Growing Incidence of Cancer Leading to Lymphedema
5.3 Market Restraints
5.3.1 Availability of Alternate Treatments
5.4 Market Opportunities
5.4.1 Growing Initiatives to Raise Awareness Among Medical Professionals
5.5 Future Trends
5.5.1 Advancements in Compression Bandages
5.6 Impact of Drivers and Restraints:
6. Spain Compression Bandages and Wraps Market Analysis
6.1 Spain Compression Bandages and Wraps Market Revenue (Euro Million), 2021–2031
7. Spain Compression Bandages and Wraps Market Analysis by Product
7.1 Bandages
7.1.1 Overview
7.1.2 Bandages: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
7.1.2.1 Spain: Spain Compression Bandages and Wraps Market Breakdown by Bandages
7.2 Wraps
7.2.1 Overview
7.2.2 Wraps: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
8. Spain Compression Bandages and Wraps Market Analysis – by Application
8.1 Deep Vein Thrombosis
8.1.1 Overview
8.1.2 Deep Vein Thrombosis: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
8.2 Lymphedema
8.2.1 Overview
8.2.2 Lymphedema: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
8.3 Wound Management
8.3.1 Overview
8.3.2 Wound Management: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
9. Spain Compression Bandages and Wraps Market Analysis – by End User
9.1 Hospitals and Clinics
9.1.1 Overview
9.1.2 Hospitals and Clinics: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
9.2 Ambulatory Surgical Centers
9.2.1 Overview
9.2.2 Ambulatory Surgical Centers: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
9.3 Homecare
9.3.1 Overview
9.3.2 Homecare: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
9.4 Others
9.4.1 Overview
9.4.2 Others: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million)
10. Company Profiles
10.1 Essity AB
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Paul Hartmann AG
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Smith & Nephew Plc
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Bimedica
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Molnlycke Health Care AB
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 B Braun SE
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 3M Co
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Calvo Izquierdo SL
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Cardinal Health Inc
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Convatec Group Plc
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
List of Tables
Table 1. Spain Compression Bandages and Wraps Market Segmentation
Table 2. Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million) – by Product Type
Table 3. Spain: Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million) – by Bandages
Table 4. Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million) – by Application
Table 5. Spain Compression Bandages and Wraps Market – Revenue and Forecast to 2031 (Euro Million) – by End User
Table 6. Appendix: Spain Compression Bandages and Wraps Market
List of Figures
Figure 1. PEST Analysis
Figure 2. Impact Analysis of Drivers and Restraints
Figure 3. Spain Compression Bandages and Wraps Market Revenue (Euro Million), 2021–2031
Figure 4. Spain Compression Bandages and Wraps Market Share (%) – by Product, 2023 and 2031
Figure 5. Bandages: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 6. Wraps: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 7. Spain Compression Bandages and Wraps Market Share (%) – by Application, 2023 and 2031
Figure 8. Deep Vein Thrombosis: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 9. Lymphedema: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 10. Wound Management: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 11. Others: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 12. Spain Compression Bandages and Wraps Market Share (%) – by End User, 2023 and 2031
Figure 13. Hospitals and Clinics: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 14. Ambulatory Surgical Centers: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 15. Homecare: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
Figure 16. Others: Spain Compression Bandages and Wraps Market– Revenue and Forecast to 2031 (Euro Million)
The List of Companies - Spain Compression Bandages and Wraps Market
- Essity AB
- Paul Hartmann AG
- Smith & Nephew Plc
- Bimedica
- Molnlycke Health Care AB
- B Braun SE
- 3M Co
- Calvo Izquierdo SL
- Cardinal Health Inc
- Convatec Group Plc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For