As per our report, the global compression garments and stockings market size was valued at USD 3237 Million in 2023. This value is further estimated to grow at a CAGR of 5.35% and worth USD 4200.96 Million by 2028.
The growth of the global compression garments and stockings market is expected to expand as more people become aware of the medicinal benefits of compression fabrics, such as healing properties, reduced bruising efficiency. Compression garments and stockings are growing in popularity due to the rates of varicose veins, lymphedema, and other muscle issues. Athletes and gymnasts are increasingly wearing compression garments and stockings because they have a perfect fit, absorb moisture, and help prevent injury during an event or sport. Other factors driving the global compression garments and stockings industry are advances in fabric quality and textile styles and increased awareness of physical fitness.
Benefits of compression garments and stockings, increased public awareness of health issues, an aging population, increased investment, and increased healthcare costs will positively impact the compression garments and stockings market in the coming years. Players should expect attractive business prospects in the future due to productivity growth and creative marketing and promotion strategies. Compression garments face significant difficulty in ensuring the accuracy and repeatability of applied pressure during their application. This is due to the fact that most compression garments have minimal size options. To improve the effectiveness of compression garments, key players in the industry should incorporate sensors into them as one of the opportunities for compression garments and stockings market growth.
Compression garments and stockings are tight-fitting, which can cause itchiness and dry skin in some people. This is a major stumbling block to the global compression apparel and stockings market's expansion. The availability of alternative therapies is likely to be a major factor restricting the global compression garments and stockings market's growth. Local wound care, dressings, topical or systemic antibiotics for untreated wounds, other pharmacologic agents, anesthesia, and adjunctive therapy are also options for treating chronic venous insufficiency.
Complications resulting from excessive compression stocking use can inhibit the compression garments and stockings market growth. While compression stockings tend to be easy to use, improperly worn stockings can cause serious problems. Breaking of skin, especially in the elderly, malnourished, and those with frail, fragile skin.
COVID-19 Impact on the global compression garments and stockings market:
The COVID-19 pandemic's outbreak and global spread were unprecedented in recent human experience, and it has disrupted people's daily lives all over the world. Seeking to avoid the outbreak of infectious diseases, most countries implemented a long-term total lockdown beginning in March 2020. Compression garments are tight-fitting, elastic garments that apply graduated pressure to specific parts of the body to ensure continuous blood supply across the veins by enhancing venous return and decreasing peripheral swelling. They're made to help you regain and maintain proper fluid circulation. Most of the markets focus on the production of products and devices that are useful for the people infected with coronavirus to recover fast from the disease. As a result, the Compression Garments and Stocking market has declined its growth during this tough situation. On the other hand, compression garments and stockings demand development will be accelerated in the coming years due to an increase in the incidence of various chronic illnesses, an increase in the pace of orthopedic surgery, and the popularity of compression garments.
Market Size Available
2022 to 2028
2023 to 2028
By Product, Application, End-User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This market research report on the global compression garments and stockings market has been segmented based on the product, application, end-user, and region.
Compression Garments and Stockings Market - By Product:
Based on the product type, the compression garments are expected to account for the largest share in the market during the forecast period due to the broad range of health benefits associated with the products, such as twists and enlargement of veins lymphedema, and some chronic conditions.
Compression Garments and Stockings Market - By Application:
Based on the application, the varicose veins segment held 39% of the market shares in 2022 and is estimated to grow faster during the forecast period. The oncology segment stands second in leading the market by application.
Compression Garments and Stockings Market - By End User:
Based on end-user, the Hospital segment was the market leader and achieved a 34.7% share in 2022. However, the online sales segment is growing with the highest CAGR during the forecast period. It is also estimated that the online sales segment will beat the hospitals leading position by the end of the forecast period due to the growing internet and e-commerce usage across the world.
Compression Garments and Stockings Market - By Region:
Geographically, the North American regional market is expected to retain its dominating position in the compression garments and stockings market during the forecast period. An increasingly aging population and Y-O-Y growth in sports injuries are leveling up the market demand. The European market is estimated to have promising growth during the forecast period due to increased demand for these compressed garments, a growing geriatric base, growing disposable income, and growing advertising of products.
The APAC market is projected to grow at the highest CAGR during the forecast period due to the growing patient sympathy towards the usage of compressed garments. Rising online shopping trends also mark up the growth of this region. India and China are the major contributors to the APAC market growth.
The Latin American market is expected to have a steady growth rate over the forecast period. Rising incidences of chronic diseases are a major factor propelling the demand of the market in this region. The MEA market is expected to sluggish growth rate over the forecast period. Growing awareness among people over the availability of different treatment procedures is prompting the demand of the market.
KEY MARKET PARTICIPANTS:
Companies such as Leonisa, Inc., Medical Z, 2XU Pty. Ltd, 3M, BSN Medical, Medi GmbH & Co KG, Nouvelle, Inc., and Santemol Group Medical are a few of the major participants in the global compression garments and stockings market.
RECENT MARKET DEVELOPMENTS:
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