Compression Garments and Stockings Market to reach $3,456.7, Growing at a 5.1% CAGR by end of 2028 | CMI

Compression stockings are elastic socks that are wrapped around the body and used to pinch the limb.

SEATTLE, WASHINGTON, UNITED STATES, November 16, 2021 /EINPresswire.com/ — The global compression garments and stockings market is forecast to surpass US$ 3,541.1 million by the end of 2027, from a valuation of US$ 2,346.7 million in 2019.

Compression stockings are elastic socks that are wrapped around the body and used to pinch the limb. They improve venous blood flow rate and valve efficacy, thereby reducing the width of distended veins. Compression stockings, unlike standard dress or sports stockings and gloves, use heavier elastics to apply significant weight to the thighs, knees, and feet. Compression therapy relieves heavy and aching legs by lowering venous pressure, preventing venous stasis and venous wall impairments, and reducing venous pressure. Compression stockings are useful for treating venous infections, avoiding venous ulcers, and preventing thromboembolic diseases of the deep venous system in the legs.

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Drivers

As the number of sporting injuries rises, demand for compression devices is projected to rise, boosting the global compression clothing and stockings market. As per the National High School Sports-Related Injury Surveillance Study 2017-2018, there were 1,367,490 sports-related injury incidents reported in high schools in the U.S.

Opportunities

Market players should concentrate on introducing low-cost compression garments and stockings, especially in emerging markets. Since these drugs are not covered by insurers, patients' healthcare costs will rise.

Restraints

The global compression garments and stockings market is projected to be hampered by the availability of alternative therapies. Anesthesia, local wound management, dressings, topical or systemic antibiotics for untreated wounds, adjunctive therapy, and pharmacologic agents are also options for treating persistent venous insufficiency.

Key Takeaways

The compression garments segment of the global compression garments and stockings market was worth US$ 2,178.3 million in 2018, and is projected to grow at a CAGR of 5.1 percent to US$ 3,456.7 million by 2027.

Brands are focusing on the production and launch of new compression garments in the market, which is expected to drive the segment's growth over the forecast period. AIROS Medical, Inc. obtained 510 (k) approval from the US FDA (Food and Drug Administration) on January 21, 2020 to sell its modified AIROS 8 Sequential Compression Therapy product and garment system.

In terms of value, the varicose veins segment dominated the global compression garments and stockings market in 2018, accounting for 46.1 percent of the market, led by oncology.

During the forecast period, the global compression garments and stockings market is expected to rise due to the rising prevalence of varicose veins. Varicose veins affect over 40 million individuals in the U.S., according to the American Vein and Lymphatic Society.

In 2018, the hospitals segment dominated the global compression garments and stockings market, accounting for 34.7 percent of total revenue, led by the online platform.

Physicians often recommend compression garments and stockings to patients with varicose veins and oncology patients, which is expected to drive growth of the global compression garments and stockings market during the forecast period.

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Market Trends

Compression therapy is becoming more common in athletic rehab. Compression garments are used by athletes to minimise swelling and inflammation, speed muscle regeneration, and avoid delayed-onset muscle soreness during and after exercise.

The global compression garments and stockings market has progressed due to increased R&D in temperature-responsive textiles. Researchers at the University of Minnesota announced the invention of a temperature-based textile that can be used to make self-fitting garments like compression garments in October 2019.

Competitive Landscape

Key companies contributing in the global compression garments and stockings market are Medi GmBH & Co KG, Therafirm, Santemol Group Medikal, 3M, Medical Z, BSN Medical, Covidien Ltd., Nouvelle, Inc., Leonisa, Inc., 2XU Pty. Ltd., and SIGVARIS.

Key Developments
SRC Health revealed in February 2019 that What to Expect, a consulting group, concluded that the company's pregnancy compression series reduced discomfort for pregnant women substantially.

DJO Global, a manufacturer of compression fabrics, therapeutic inserts, and shoes, announced intentions to move its global headquarters from California to Texas in December 2018.

Detailed Segmentation

Global Compression Garments and Stockings Market, By Product Type:
Compression Garments
Upper Compression Garments
Lower Compression Garments
Compression Stockings
Anti-Embolism Compression Stockings
Gradient Compression Stockings

Global Compression Garments and Stockings Market, By Application:
Varicose Veins
Wound Care
Burns
Oncology
Others

Global Compression Garments and Stockings Market, By Distribution Channel:
Hospitals
Ambulatory Surgical Centers
Clinics
Online Sales
Other Healthcare Facilities

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Source: EIN Presswire