compression garments and stockings market Report Overview
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The global compression garments and stockings market size was USD 2753.83 million in 2021 and will reach USD 3901.5 million by 2027, at CAGR of 5.98% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the compression garments and stockings market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Compression garments and stockings are pieces of clothing that fit tightly around the skin and apply pressure to the limbs or other parts of the body. They are used to improve blood flow, reduce swelling, support veins, and prevent or treat various medical conditions related to blood circulation.
There are different types of compression garments and stockings, such as socks, pantyhose, sleeves, gloves, bodysuits, etc. They also come in varying degrees of compression, ranging from mild to strong. The higher degrees of compression usually require a doctor’s prescription.
COVID-19 Impact: Pandemic Increased the Market Demand due to the Increase in the Demand for Compression Products
The COVID-19 pandemic has had a significant impact on the compression garments and stockings market share. The pandemic has increased the demand for compression products among patients who suffer from venous thromboembolism (VTE), a serious complication of Covid-19 that causes blood clots in the veins. Compression therapy is recommended as a preventive measure for VTE, as it improves blood circulation and prevents clot formation. Moreover, the pandemic has also boosted the demand for sports compression products among people who engage in physical activities to maintain their health and fitness during lockdowns and social distancing measures. Sports compression products help improve performance, recovery, and injury prevention among athletes and fitness enthusiasts.
Latest Trends
"Adoption of Green and Energy-Efficient Technologies is expected to Fuel the Growth in the Market"
One of the recent trends in the market is the emergence of smart compression products that incorporate sensors, wireless connectivity, and mobile applications to monitor and adjust the pressure level according to the patient’s needs. These products aim to improve the effectiveness, comfort, and compliance of compression therapy by providing real-time feedback, personalized settings, reminders, alerts, and data analysis. Some examples of smart compression products. Siren socks are smart socks that measure the temperature of the feet and alert the wearer or their caregiver if there is a sign of inflammation or infection, which can indicate a potential ulcer or wound. They are designed for patients with diabetic neuropathy, who often lose sensation in their feet and are prone to foot ulcers. Bio compression systems are pneumatic compression devices that inflate and deflate air chambers around the limbs to provide sequential compression therapy. They are used for patients with lymphedema, chronic venous insufficiency, or post-surgical edema. They can be controlled by a mobile app that allows the user to adjust the pressure level, duration, frequency, and mode of therapy.
compression garments and stockings market Segmentation
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- By Type Analysis
According to type, the market can be segmented into compression garments and compression stockings.
- By Application Analysis
Based on age, the market can be divided into varicose vein, wound care, burns, oncology and others.
Driving Factors
"Increasing Prevalence of Chronic Venous Diseases to Foster the Market Growth"
Chronic venous diseases (CVD) are disorders that affect the veins in the legs, causing symptoms such as pain, swelling, heaviness, itching, cramps, varicose veins, skin changes, and ulcers. CVD are very common among adults, affecting a lot of women and men worldwide. CVD can impair the quality of life and increase the risk of complications such as VTE, infection, bleeding, and amputation. Compression therapy is one of the main treatments for CVD, as it reduces venous pressure, improves venous return, and prevents edema formation. Therefore, the increasing prevalence of CVD drives the demand for compression garments and stockings among patients who need to manage their condition and prevent its progression.
"Rising Demand for Sports Compression Products to Result in the Expansion of the Market"
Sports compression products are garments or accessories that apply pressure to specific body parts to enhance athletic performance, recovery, and injury prevention. They are worn by athletes and fitness enthusiasts during or after physical activities such as running, cycling, swimming, skiing, basketball, soccer, etc. Sports compression products are claimed to have various benefits such as improving blood flow, oxygen delivery, muscle support, stability, posture, thermoregulation, and comfort. They are also said to reduce muscle fatigue, soreness, inflammation, and damage. The rising demand for sports compression products is driven by the growing popularity of sports and fitness activities among people of all ages and backgrounds, the increasing awareness of the benefits of compression therapy among athletes and consumers, and the availability of various types of sports compression products in different sizes, colors, designs, and materials.
Restraining Factor
"Lack of Standardization and Regulation to Hamper the Market Growth"
The market is characterized by a lack of standardization and regulation in terms of the quality, safety, efficacy, and labelling of compression products. There is no universal agreement on the definition, classification, measurement, testing, and prescription of compression products among different countries, regions, manufacturers, healthcare providers, and users. This leads to confusion, inconsistency, variability, and uncertainty in the compression therapy practice and outcomes.
compression garments and stockings market Regional Insights
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"Asia Pacific to Lead the Market Owing to Increasing Government Initiatives and Investments to Support Green Buildings and Energy "
The Asia Pacific region has shown the highest compression garments and stockings market growth. The Asia Pacific region has a large population that suffers from chronic venous diseases due to various factors such as aging, obesity, sedentary lifestyle, diabetes, hypertension, smoking, pregnancy, etc. Moreover, the burden of CVD is expected to increase in the future due to the demographic transition and epidemiological transition in the region. Therefore, the increasing prevalence of CVD creates a huge demand for compression garments and stockings among patients who need to treat their condition and prevent its complications.
Key Industry Players
"Key Players Are Employing Advanced Technologies In Order To Stimulate Further Growth Of The Market "
All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.
List of Market Players Profiled
- Smith & Nephew PLC (U.K)
- 2XU (Australia/New Zealand)
- SIGVARIS (Switzerland)
- BSN Medical (Germany)
- Covidien (Ireland)
- Medtronic PLC (Ireland)
- Nouvelle (U.S)
- Paul Hartmann AG (Germany)
- Bio Compression Systems Inc. (U.S)
- 3M Company (U.S)
- Medi GmbH & Co. KG (Germany)
- Cardinal Health Inc. (U.S)
- Leonisa (Colombia)
- medi (Germany)
- Sanyleg S.R.L. (Italy)
- Therafirm (U.S)
- Santemol (France)
Report Coverage
This report examines an understanding of the compression garments and stockings market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2753.83 Million in 2021 |
Market Size Value By |
US$ 3901.5 Million by 2027 |
Growth Rate |
CAGR of 5.98% from 2021 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the compression garments and stockings market expected to touch by 2027?
The compression garments and stockings market is expected to touch USD 3901.5 million by 2027.
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What CAGR is the compression garments and stockings market expected to exhibit during 2022-2027?
The compression garments and stockings market is expected to exhibit a CAGR of 5.98% over 2022-2027.
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Which are the driving factors of the compression garments and stockings market?
The driving factors of the compression garments and stockings market are increasing prevalence of chronic venous diseases and rising demand for sports compression products.
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Which are the top companies operating in the compression garments and stockings market?
The top companies operating in the compression garments and stockings market are Smith & Nephew PLC, 2XU, SIGVARIS, BSN Medical, Covidien, Medtronic PLC, Nouvelle, Paul Hartmann AG, Bio Compression Systems Inc., 3M Company, Medi GmbH & Co. KG, Cardinal Health Inc., Leonisa, medi, Sanyleg S.R.L., Therafirm, Santemol.