Global Compression Garments and Stockings Market, By Product Type (Compression Garments, Compression Stockings), Application (Varicose Veins, Wound Care, Burn Cases, Oncology, Other), Distribution Channel (Hospitals, Ambulatory Surgical Centers, Clinics, Online Sales, Other Healthcare Facilities)-Industry Trends and Forecast to 2029.
Market Analysis and Size
Patients and users suffering from various forms of venous diseases, injuries, and those who have undergone surgeries and require rehabilitation are expected to benefit from the introduction of new goods. This market is predicted to grow as a result of an increasing number of growth strategy initiatives. Manufacturers have been found using inorganic expansion strategies to expand their portfolio and reach out to consumers.
The obese population demography, which is at a high risk of developing vascular disorders, presents an opportunity for compression socks manufacturers. As a result, as the most frequent vascular condition, varicose veins dominates the present market share with 47.6%. Data Bridge Market Research analyses that the compression garments and stockings market was valued at USD 2.6 billion in 2021 and is further estimated to reach USD 3.96 billion by 2029, and is expected to grow at a CAGR of 5.4% during the forecast period of 2022 to 2029.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Compression Garments, Compression Stockings), Application (Varicose Veins, Wound Care, Burn Cases, Oncology, Other), Distribution Channel (Hospitals, Ambulatory Surgical Centers, Clinics, Online Sales, Other Healthcare Facilities)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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3M (US), BSN Medical (Germany), Nouvelle Inc. (US), Medical Z (US), medi GmbH & Co KG (Germany), Medtronic (Ireland), SIGVARIS GROUP (US), BIOCOMPRESSION SYSTEMS (US), PAUL HARTMANN AG (Germany), Therafirm. (US), Santemol Group Medikal (Turkey), 2XU (Australia), Smith & Nephew plc (UK), Julius Zorn, Inc. (US), Comfort Plus Corporation (Taiwan), VIM & VIGR (US), medi UK Ltd (UK), Cardinal Health. (US), E.C.I. ELASTIC CO., LTD. (Taiwan), Juzo (Germany), Design Veronique. (US), Medico International Inc. (US), Marena Group, LLC (US), SANYLEG SRL a socio unico (Italy)
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Market Opportunities
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Market Definition
Compression garments are a type of clothing that provides assistance to persons with poor circulation or who must stand for lengthy periods of time. To increase blood circulation, innovative elastic materials are frequently used. They maintain the muscle and aid to avoid the creation of a blood coat.
Compression Garments and Stockings Market Dynamics
Drivers
- Rise in the geriatric population
Compression garments and stockings are becoming increasingly popular among the geriatric population, who are suffering from arthritis as a result of the occurrence of other chronic conditions such as heart disease, diabetes, and obesity, and who require compression garments and stockings in their daily lives to live a better life.
- Growing of chronic diseases
According to a recent analysis by the Centers for Disease Control and Prevention (CDC), 900,000 persons in the United States may be impacted by deep vein thrombosis by 2020 as a result of their sedentary lifestyle. Deep vein thrombosis is estimated to kill 10% to 30% of the population within one month after diagnosis.
- Technological developments
Increased knowledge of the availability and benefits of compression garments, as well as developments in technology connected to orthopaedic operations, have contributed to the increase in demand.
Opportunities
In addition, the growing prevalence cases of obesity and rise in the trend of functional sportswear and sporting goods are further estimated to provide potential opportunities for the growth of the compression garments and stockings market in the coming years.
Restraints/Challenges
On the other hand, the increased prices regarding the garments and stockings and the application of strict rules and regulations for manufacturing is further projected to impede the growth of the compression garments and stockings market in the targeted period. However, the accessibility of substitute therapies and design restrictions might further challenge the growth of the compression garments and stockings market in the near future.
This compression garments and stockings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the compression garments and stockings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Compression Garments and Stockings Market
The COVID-19 had a negative impact on the compression garments and stockings market. COVID-19 is an unprecedented global public health crisis that has impacted practically every business, with long-term consequences that are expected to stifle industrial growth during the forecast period. This virus has harmed the compression garments and stockings market as well. The pandemic and lockdown resulted in the delay and cancellation of various national and international sports in the world. Cancellation in various tournaments leads to a drop in the demand for compression garments and stockings which athletes prefer to wear during sports to lessen swelling and pain.
Nonetheless, with decrease in COVID-19 cases the diagnostic equipment market is regaining and maintaining the development and distribution of these devices.
Recent Development
- In October 2020, following orthopaedic surgical repair of lower extremity fractures, 3M announced the availability of the PREVENA RESTOR AXIO.FORM Incision Management System, which is used to manage post-operative incisions as well as the surrounding soft tissue envelope.
Global Compression Garments and Stockings Market Scope and Market Size
The compression garments and stockings market is segmented on the basis of product type, application and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Compression Garments
- Compression Stockings
On the basis of product type, the compression garments and stockings market is segmented into compression garments and compression stockings.
Application
- Varicose Veins
- Wound Care
- Burn Cases
- Oncology
- Other
Based on application, the compression garments and stockings market is segmented into varicose veins, wound care, burn cases, oncology and others.
Distribution Channel
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Online Sales
- Other Healthcare Facilities
On the basis of distribution channel, the compression garments and stockings market is segmented into hospitals, ambulatory surgical centers, clinics, online sales and other healthcare facilities.
Compression Garments and Stockings Market Regional Analysis/Insights
The compression garments and stockings market is analysed and market size insights and trends are provided by country, product type, application and distribution channel as referenced above.
The countries covered in the compression garments and stockings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the compression garments and stockings market due to the increase in the aging population. Furthermore, the rise in the rate of sports injuries will further boost the growth of the compression garments and stockings market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth in the compression garments and stockings market due to the rise in the knowledge amongst the consumers related to the advantages of the products. Moreover, the growing online sales is further anticipated to propel the growth of the compression garments and stockings market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The compression garments and stockings market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for compression garments and stockings market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the compression garments and stockings market. The data is available for historic period 2010-2020.
Competitive Landscape and Compression Garments and Stockings Market Share Analysis
The compression garments and stockings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to compression garments and stockings market.
Some of the major players operating in the compression garments and stockings market are:
- 3M (US)
- BSN Medical (Germany)
- Nouvelle Inc. (US)
- Medical Z (US)
- medi GmbH & Co KG (Germany)
- Medtronic (Ireland)
- SIGVARIS GROUP (US)
- BIOCOMPRESSION SYSTEMS (US)
- PAUL HARTMANN AG (Germany)
- Therafirm. (US)
- Santemol Group Medikal (Turkey)
- 2XU (Australia)
- Smith & Nephew plc (UK)
- Julius Zorn, Inc. (US)
- Comfort Plus Corporation (Taiwan)
- VIM & VIGR (US)
- medi UK Ltd (UK)
- Cardinal Health. (US)
- E.C.I. ELASTIC CO., LTD. (Taiwan)
- Juzo (Germany)
- Design Veronique. (US)
- Medico International Inc. (US)
- Marena Group, LLC (US)
- SANYLEG SRL a socio unico (Italy)
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