Compression Garments And Stockings Market

Compression Garments and Stockings Market Size (2024 to 2032)

In 2023, the global compression garments and stockings market was valued at USD 3237 million and it is expected to reach USD 5174.32 million by 2032 from USD 3410.18 million in 2024, growing at a CAGR of 5.35 % during the forecast period.

MARKET DRIVERS

The growing awareness among people of the medicinal benefits of compression fabrics, such as healing properties, reduced bruising efficiency is majorly propelling the growth of the compression garments and stockings market.

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. The 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.

The market participants 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.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Compression Garments and Stockings Market Analysis By Product

The compression garments segment is expected to account for the largest share of 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.

Global Compression Garments and Stockings Market Analysis By Application

The varicose veins segment held 39% of the market shares in 2023 and is estimated to grow faster during the forecast period. The oncology segment stands second in leading the market by application.

Global Compression Garments and Stockings Market Analysis By End User

The hospital segment was the market leader and achieved a 34.7% share in 2023. 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

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 PLAYERS IN THE GLOBAL COMPRESSION GARMENTS AND STOCKINGS MARKET

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 HAPPENINGS IN THE MARKET

• In 2020, AIROS Medical Inc. received an acceptance from the US FDA of the clearance of 510 (K) to sell its updated compressed therapy devices and garments.
• On March 18, 2020, Nouvelle Compression introduced bras for pre-eminent healing that give outcomes for breast enhancement. These can be worn 24 hours a, and the company also includes Bra bands, bras with cups, sleeves, and without cups, and Cotton Bras. These were designed for safety and to 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 related to sportswear that include compression garments, fitness wear for cycling and running, and so on. 
• DJO Global, one of the leading players in manufacturing compression garments and inserters and therapy shoes, has made a partnership with Siren MD, where DJO Global has become the premier vendor for Siren MD’s sports team market.

DETAILED SEGMENTATION OF THE GLOBAL COMPRESSION GARMENTS AND STOCKINGS MARKET INCLUDED IN THIS REPORT

This market research report on the global compression garments and stockings market has been segmented based on the product, application, end-user, and region.

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 Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa