As per our research report, the Global Compression Garments and Stockings Market size is estimated to be growing at a CAGR of 5.01% from 2023 to 2030.
The pandemic had a significant impact on the compression garments and stockings market. On one hand there was increase in demand for compression garments from hospitals & clinics during patients’ treatment for blood flow improvement. Moreover, compression stockings such as knee-high stockings and thigh stockings were demanded by at-home care patients through e-commerce platforms, as physical shops were closed down during the pandemic. However, supply chain disruptions during the pandemic caused slowdown in production and distribution of compression garments and stockings, which further decreased its market growth.
Additionally, all the sports activities were temporarily stopped, which further declined the demand for compression garments and stockings in the market. However, increase in health and fitness awareness during the pandemic, raised the demand for compression training /exercise socks from online platforms, for preventing post-training injury, muscle vibration, and muscle soreness.
Post-pandemic, the market saw complete revival with increasing demand for preventive compression socks, sleeves, body-suits, and others from teenagers and young adults seeking to maintain fitness. Moreover, technological advancements in compression clothing such as temperature control and compression clothing equipped with integration capabilities that enables doctors and other healthcare professionals monitor their patient’s physical health through mobile application. Additionally, rising trends in sustainable clothing has led to the development of eco-friendly compression socks and garments that not only focuses on the health of individuals but also minimize wastage and environmental degradation. In addition to this, consumer demand for different sized compression garments and stockings has induced companies to introduce customized compression clothing segment that increases comfortability and reduces leg pain and swelling.
The restraints to this market include size incompatibility, market saturation and market competition, and lack of awareness among consumers regarding compression garments and stockings.
KEY MARKET INSIGHTS:
Based on market segmentation by product type, compression stockings held the highest share of about 29% in the market. The growth is attributed to increasing demand for compression stockings for varicose veins by the elderly. Moreover, sportspersons are also another major consumer segment demanding compression stockings for enhanced performance and reduced muscle soreness and vibration during and post practice sessions. Furthermore, compression garments are the fastest-growing segment during the forecast period. The growth is attributed to increasing demand for compression sleeves and suits by runners, cyclists, and other athletes in the market.
Based on market segmentation by application, varicose veins held the highest share of about 36% in the market. The growth of this segment is attributed to increased prevalence of varicose veins among the elderly due to diabetes, water retention issues in legs, and other musculoskeletal issues. Compression garments and stockings helps in improving the blood flow in veins by putting pressure on the ankles, which further helps to reduce varicose veins. Moreover, oncology is the fastest-growing segment during the forecast period. The growth is attributed to increased demand for compression chest and back garments for cancer treated patients in hospitals. Moreover, compression garment used for this purpose helps to reduce swelling and pain of the affected area.
Based on market segmentation by distribution channel, hospitals & clinics held the highest share of about 40% in the market. The growth is attributed to increasing demand for compression garments and stockings by patients suffering from joints and muscles issues. Moreover, hospitals & clinics with in-house medical shops offer compression garments and stockings to the patients on prescription by physiologists and orthopedist. Furthermore, online sales segment is the fastest-growing segment during the forecast period. The growth is attributed to rising consumer demand for convenient shopping experience and door-step delivery. Additionally, the increase in online presence of many medical companies have further broaden consumer choices for compression garments and stockings in the market.
Based on market segmentation by region, North America held the highest share of about 45% in the market. The growth is attributed to increased prevalence of varicose veins among the elderly and women and availability of stat of the art medical facilities. Furthermore, Asia-Pacific witnesses a faster growth during the forecast period. The growth is attributed to rising demand for compression sleeves by sportspersons and increasing cases of Arthritis among the elderly.
Companies playing a leading role in the Global Compression Garments and Stockings market profiled in this report are 3M, SIGVARIS, Therafirm, Santemol Group Medikal, Leonisa Inc, Comfort Plus Corporation, Medico International Inc, BIOCOMPRESSION SYSTEMS, Nouvelle, Tynor, Kinex Medical Company, and Others.
Compression Garments
Compression Stockings
Varicose Veins
Burns
Oncology
Wound Care
Others
Hospitals & Clinics
Ambulatory Surgical Centers
Online Sales
Others
North America
Europe
Asia-Pacific
South America
Middle-East & Africa
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