As per our report, the size of the global compression garments and stockings market was valued at USD 2916.8 Million in 2019. This value is estimated to grow at a CAGR of 5.35% and will reach USD 3785.7 Million by 2024.
The compression garments and stockings are skin-tight clothes manufactured using nylon cloth material. These garments and stockings act as a support to people who stand for long hours and increase the circulation of blood and prevents from formation of blood clotting primarily used for health issues related to veins.
MARKET DRIVERS
Soaring incidence of varicose veins and lymphedema conjoined are the significant factors driving the global compression garments and stockings market growth. As per the American Vein and Lymphatic Society, nearly 40 million Americas are suffering from health issues related to the veins. According to American the Venous Forum, more than 250,000 patients are getting affected with Deep vein thrombosis
Additionally, the growing geriatric population affected by age-related muscular problems and growth in the sports and fitness industry are further fuelling the market growth. Furthermore, the market growth is driven by factors like growing awareness over the medical benefits associated with compression garments and stockings and technological advancements in designing fabric material mostly used by the sportspersons.
MARKET RESTRAINTS
Strict rules and guidelines to manufacture these compression garments or stockings are one of the crucial factor liming growth. Additionally, the uncomfortableness and side-effects associated with the usage of these products is another top factor impeding the growth of the global compression garments and stockings market.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 - 2024 |
|
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 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. It is due to the broad range of health benefits associated with the products such as twist and enlargement of veins, lymphedema and also 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 at the fastest rate 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 Hospitals segment is was the market leader and achieved a 34.7% share in the market 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.
Regional Analysis
North America is anticipated to remain the leading region position in the global compression garments and stockings market over the forecast period. The U.S. market is expected to grow at the highest CAGR mainly due to enormous per capita health expenditures, and significant investments in R&D for effective treatment alternatives.
The Asia Pacific is anticipated to be the fastest-growing region in the market during the forecast, as mentioned earlier period. Furthermore, the Middle East and Africa and Latin America are to show significant growth for this market because of the increased burden of diseases.
TOP COMPANIES IN THE MARKET
Companies like Leonisa, Inc., Medical Z, 2XU Pty. Ltd, 3M, BSN Medical, Medi GmbH & Co KG, Nouvelle, Inc. and Santemol Group Medical are few of the major participants in the global compression garments and stockings market.
Recent Happenings in this market
In 2020, the AIROS Medical Inc. has received an acceptance from US FDA the clearance of 510 (K) for the sale of its updated compressed therapy devices and garment.
On March 18, 2020, Nouvelle compression wear has introduced bras which are for the pre-eminent healing that gives outcomes for breast enhancement. These can be wear 24 hours and the company also includes like Bra bands, Bras with cups, with sleeves and without cups and Cotton Bras. These were designed for safety and make them steady.
On July 23, 2019, 2XU teamed up with Tryzens to increase their evolvement and customer experience. The launch is of e-commerce sites that related to sportswear that include compression garments, and also fitness wear for cycling and running and so on.
DJO Global, one of a leading player in manufacturing compression garments and inserters and therapy shoes has made a partnership with Siren MD, where the DJO Global has become the premier vendor for Siren MD’s sports team market.
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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