Middle East & Africa Compression Garments And Stockings Market

Middle East & Africa Compression Garments and Stockings Market Size & Growth (2023 to 2028)

The Size of the Middle East & Africa Compression Garments and Stockings Market is valued at USD 210 million in 2023 and is expected to grow at a CAGR of 5.6% to reach USD 280 million by 2028 during the forecast period 2023 to 2028.

The increase in the geriatric population contributes to the growth of the MEA compression garments and stockings market. In addition, the proportion of the senior population in many MEA countries is increasing rapidly, who are more vulnerable to various chronic illnesses like varicose veins, deep vein thrombosis, leg ulcers, osteoporosis, rheumatoid arthritis, and osteomalacia, among others.

Compression garments and stockings provide improved venous support and increase blood flow efficiency in the lower extremities. According to a U.N study, the total number of people aged 80 and over is analyzed to increase from 155 million in 2019 to more than 460 million by 2050. These growing numbers will support the MEA compression garments and stockings market during the analysis period.

In addition, other factors such as the increasing number of orthopedic procedures increased patient awareness about compression garments and stocking, and the growing prevalence of sports injuries and accidents, are also contributing to the market growth. As a result, companies are mainly focusing on the target population of patients prone to accidents and injuries, and ongoing clinical research and development activities to increase the sales will lead to increased adoption of compression garments and stockings.

Meanwhile, the growing demand for the latest technological products for better healthcare will provide significant growth opportunities for the market over the period.

However, the lack of generally accepted standards for compression garments coupled with low patient adherence to these products will slow down MEA compression garments and stockings market growth. Moreover, the lack of reimbursement policies and availability of these products may challenge the market growth in the years to come. In addition, increased adoption of alternative therapies for treatments will hamper the studied market.

This research report on the Middle East & Africa Compression Garments and Stockings Market has been segmented and sub-segmented into the following categories.

By Product:

• Compression garments
• Compression stockings

By Application:

• Varicose veins
• Wound care
• Burns
• Oncology

By End User:

• Hospitals
• ASC’s
• Clinics
• Online sales
• Healthcare

By Country:

• KSA
• UAE
• Israel
• the rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

Geographically, the MEA compression garments and stockings market dominates globally due to the increasing geriatric population, growing incidence of chronic venous disorders and obesity, and presence of favorable government reimbursements in the region.

The UAE compression garments and stockings market will have lucrative growth opportunities due to the presence of technologically developed products, focus by leading market players to meet the unmet market demand, growing target population, and high incidence of chronic diseases in the years to come.

The Saudi Arabia compression garments and stockings market is analyzed to expand at a significant growth rate due to factors such as increasing R&D investments by major players, growing awareness, and ongoing initiatives to bring newer products into the market at a comparatively lower price that will support the market in this region.

The South African compression garments and stockings market will have the lowest market share due to low per capita income. As a result, hospitals face the issue of a shortage of healthcare products like compression garments and stockings in the African region. However, growing orthopedic and trauma surgeries will provide growth opportunities in the coming years.

KEY MARKET PLAYERS

Key Market Companies leading the Middle East & Africa Compression Garments and Stockings Market Profiled in the Report are 3M, BSN Medical, Medi GmbH & Co KG, Leonisa, Inc., Medical Z, Nouvelle, Inc., 2XU Pty. Ltd, Santemol Group Medical.,