As per our report, the global compression garments and stockings market size was valued at USD 3072.85 Million in 2021. This value is further estimated to grow at a CAGR of 5.35% and worth USD 3987.62 Million by 2026.
MARKET DRIVERS:
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.
MARKET RESTRAINTS:
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.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021 to 2026 |
|
Segments Covered |
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 |
|
Regions Covered |
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 2019 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 2019. 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:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.1 Introduction
5.1.2 Compression Garments
5.1.2.1 Upper Compression Garments
5.1.2.2 Lower Compression Garments
5.1.3 Compression Stockings
5.1.3.1 Anti-Embolism Compression Stockings
5.1.3.2 Gradient Compression Stockings
5.1.4 Y-o-Y Growth Analysis, By Product Type
5.1.5 Market Attractiveness Analysis, By Product Type
5.1.6 Market Share Analysis, By Product Type
5.2 Application Type
5.2.1 Introduction
5.2.2 Varicose Vein
5.2.3 Wound Care
5.2.4 Burns
5.2.5 Oncology
5.2.6 Others
5.2.7 Y-o-Y Growth Analysis, By Application Type
5.2.8 Market Attractiveness Analysis, By Application Type
5.2.9 Market Share Analysis, By Application Type
5.3 End-user
5.3.1 Introduction
5.3.2 Hospitals
5.3.3 Ambulatory Surgical Centers (ASC’s)
5.3.4 Clinics
5.3.5 Online Sales
5.3.6 Other Healthcare Facilities
5.3.7 Y-o-Y Growth Analysis, By End-user
5.3.8 Market Attractiveness Analysis, By End-user
5.3.9 Market Share Analysis, By End-user
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product Type
6.1.3.3 By Application Type
6.1.3.4 By End-user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product Type
6.1.4.3 By Application Type
6.1.4.4 By End-user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product Type
6.1.5.3 By Application Type
6.1.5.4 By End-user
6.2 North America
6.2.1 Introduction
6.2.2 United States
6.2.3 Canada
6.3 Europe
6.3.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.4.1 Introduction
6.4.2 China
6.4.3 India
6.4.4 Japan
6.4.5 Australia
6.4.6 South Korea
6.5 Latin America
6.5.1 Introduction
6.5.2 Brazil
6.5.3 Argentina
6.5.4 Mexico
6.5.5 Rest of Latin America
6.6 Middle East & Africa
6.6.1 Introduction
6.6.2 Middle-East
6.6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 2XU Pty. Ltd
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 3M
8.3 BSN Medical
8.4 Leonisa, Inc.
8.5 Medical Z
8.6 medi GmbH & Co KG
8.7 Nouvelle, Inc.
8.8 Santemol Group Medical
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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