Compression Socks Market Size, Share, Growth, and Industry Analysis, By Type (Mild Compression, Moderate Compression, Firm Compression), By Distribution (Online Sales, Offline Sales) and Regional Forecast to 2032

Updated On: 29 April 2024

COMPRESSION SOCKS MARKET REPORT OVERVIEW

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The global compression socks market size was USD 1.1186 million in 2022 and the market is projected to touch USD 1581.52 million by 2032, exhibiting a CAGR of 3.5% during the forecast period.

The worldwide elderly population is a major driving force in the field of compression garment and stockings industry. Individuals become more prone to venous insufficiency, spider veins, and other circulation issues as they age. Compression therapy is becoming increasingly important in the treatment of various disorders, resulting in rising demand for compression clothing and stockings. 

Compression garments have gained appeal in workouts and sports because of their possible use in improving performance, minimizing muscle fatigue, and promoting recovery. Compression garments are used by fitness enthusiasts as well as athletes to support muscles, improve blood flow, and minimize the chance of injury, driving market growth.

COVID-19 Impact: Importance of Preserving Leg Health to Upgrade Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic of COVID-19 has had an enormous effect upon the compression stocking business. Market growth initially slowed due to disturbances in the chain of supply, production, and marketing. Non-essential medical treatments and consultations were rescheduled, resulting in a decrease in customer demand for stockings with compression.

Nevertheless, as the pandemic spread, there was a slow recovery with a greater emphasis on total health and fitness. The increased awareness of the importance of preserving leg health and avoiding circulatory disorders has resulted in a revived demand for stockings with compression. Furthermore, the trend toward internet buying has aided industry recovery and growth.

LATEST TRENDS 

Associated Advantages of the Compression Socks to Stimulate Market Development   

People use graduated compression socks, especially if they work at a desk and sit for long periods of time. Many people wear graduated compression socks when working at a desk or in an environment where standing is necessary more frequently than walking. Graduated socks give extra benefits since they provide varying pressure rather than applying the same level of force on every part of the leg. The socks are going to be smoother around the bottom beneath the knee, putting the most pressure on the ankle.

COMPRESSION SOCKS MARKET SEGMENTATION      

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• By Type

Based on type the global market can be categorized into mild compression, moderate compression, firm compression.

Mild Compression: Mild compression is defined as 8-15 mmHg. This level of pressure can help with a variety of moderate conditions, such as: Giving relief to aching and fatigued legs. Assisting in the prevention of leg tiredness during prolonged sitting and standing. Assisting in the reduction of mild edema in the bottom legs.

Moderate Compression: The range of moderate compression is 15-20 mmHg. This is the initial compression level that is called "medical-grade," and it is one of the most regularly used levels since it provides adequate compression without being overly strong.

Firm Compression: Compression stockings are stiffer than regular socks. They firmly press your legs to encourage blood to flow back to your heart. They reduce swelling in your legs and help you avoid health concerns such as blood clots, veins that are varicose, veins that are spidery.

• By Application

Based on application the global market can be categorized into online sales, offline sales.

Online Sales: Major players, as well as numerous small and medium-sized businesses, are leaning toward online commerce due to decreased communication and infrastructure costs. Online platforms make it easy for the company to reach out to its clients. Customers are attracted in by the growing importance of online marketing strategies such as adverts as a result of the presence of social media uses, and there are numerous marketing options available today. This benefits the market for numerous products, including compression socks, and online sales are expected to become a substantial market sector in the coming years.

Offline Sales: An offline firm either sells actual things in a store or provides services that are geographically confined. This sort of store implements several promotional and advertising strategies, such as loyalty programs for clients, discounts, and seasonal specials, in order to produce more revenue sales. Furthermore, these retailers offer a diverse choice of hygienic product options, including both private-label along with branded products.

DRIVING FACTORS

Venous Thromboembolism (VTE) among Cancer Patients to Support Market Expansion 

Compression socks are used as preventive medicine in several venous diseases. Although venous thromboembolism is still common in cancer patients, penumatic compression devices has been the centerpiece of preventive therapy. While the use of socks with compression for those with cancer is still in its early stages, it is expected that the low cost and practicality will meet customer expectations.

Compression socks have recently been shown to be somewhat less successful than pricey treatment equipment, however cancer patients are predicted to adopt compression items for therapeutic benefits throughout the projected period.

"Treatment of Specific Conditions to Foster Industry Progress     "

Compression is widely utilized in orthopedic procedures to alleviate pain, minimize swelling, and hasten functional recovery. The potential benefits of wearing compression socks for the medical management of target disorders, such as lowering leg and foot size, venous reflux, and hypertension, are expected to drive demand during the projection periodand benefit the compression socks market growth.

RESTRAINING FACTOR

Absence of Knowledge to Stop Market Evolution   

Lack of knowledge regarding the advantages of compression therapy, as well as a reluctance to use compression garments and stockings, can stymie industry expansion. Educating medical professionals and customers about the benefits of therapy with compression and debunking myths are critical for market growth. 

Manufacturers and healthcare practitioners face hurdles due to the lack of defined compression therapy recommendations and variances in legislation across different locations. To maintain product quality and uniformity, efforts at standardization and clearer laws are required.

COMPRESSION SOCKS MARKET REGIONAL INSIGHTS  

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North America Sovereignty over the Business Attributed to Prevalence of Elderly Population

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Given the prevalence of the elderly population, North America will probably to take over the compression socks market share. Furthermore, the rising occurrence of injuries from sports will drive the region's compression clothing and stockings market throughout the projection period.

Due to increased consumer awareness of the benefits of compression garments and stockings, the region is expected to see significant expansion within the market. Furthermore, rising online sales are expected to boost the region's compression clothing and stockings industry in the approaching years.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Sigvaris (Switzerland)
• Medi (Germany)
• Juzo (U.S.)
• Essity (Sweden)
• Bauerfeind AG (Germany)
• VENOSAN (Brazil)
• Medalin Saphena AES (U.S.)
• Zhende Medical (China)
• Belsana Medical (Germany)
• 3M (U.S.)
• Maizi (Japan)
• Cizeta Medicali (France)
• Gloria Med (Italy)

INDUSTRIAL DEVELOPMENT    

May 2023: In October 2023, 3M announced the release of its PREVENA RESTOR AXIO.FORM, an incision Care System that will be used to treat post-operative wounds as well as the adjacent soft tissue envelope, post orthopaedic surgical reconstruction of lower extremity fractures.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.