COMPRESSION GARMENTS AND STOCKINGS MARKET ANALYSIS

The global compression garments and stockings market is estimated to be valued at US$ 2,863.3 million in 2023 and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030).

Analysts’ Views on Global Compression Garments And Stockings Market:

New product launches by already established companies and the entry of new companies with breakthrough technology and product are the few factors that can drive the global compression garments and stockings market over the forecast period. For instance, In June 2022, Hyperice, the leading provider of innovative technology for the recovery, mobility, and improved performance of muscles and joints, introduces Normatec 3, the next evolution of the iconic Normatec series, which uses dynamic air compression to advance everyday wellness and helps aid in faster recovery, improved training, and maximized performance. Scientific studies have shown benefits of using Normatec such as a decrease in pain sensitivity and muscle fatigue after exercise, and an increase in range of motion.

Figure 1. Global Compression Garments And Stockings Market Share (%), by Product Type, 2023

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Global Compression Garments And Stockings Market – Driver

Launch of new products by key market players to expand product portfolio

To meet the needs for compression Garments And Stockings by conducting both prenatal and postnatal research, key market players are focused on launching new products to expand their product portfolio. For instance, in January 2023, Marena Group, LLC, a manufacturer of medical-grade compression garments, shapewear, and activewear, released its new female curves bodysuit for women with naturally curvy body types who are seeking body sculpting procedures, such as liposuction, to further enhance their curves.

Figure 2. Global Compression Garments And Stockings Market Value (US$ Million), by Region, 2023

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Global Compression Garments And Stockings Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global compression garments and stockings market over the forecast period. North America is estimated to hold 46.9% of the market share.

In the U.S. today, women now make up more than one-third of all high school athletes, and their representation in collegiate sports has tripled. Therefore, the use of compression garments increases as participation increases.

Global Compression Garments And Stockings Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of medical devices, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

Due to the rise in venous diseases among hospitalized patients from prolonged exposure to the same positions, COVID-19 has had a substantial impact on the market growth for compression therapy. For instance, according to a study presented at the National Library of Medicine, patients with COVID-19 experienced upper extremity deep vein thrombosis (UEDVT) on January 2022, despite receiving adequate prophylaxis. The odds of deep vein thrombosis (DVT), pulmonary embolism, and bleeding episodes were also elevated by three or more months following the COVID-19 infection, according to a Contagion Live story from April 2022. The COVID-19 gene was also linked to a five-fold increase in the chance of deep vein thrombosis on April 2022, according to The Guardian. The market for compression therapy devices, therefore, surged during the pandemic as a result of the rise in DVT caused by COVID-19. Nevertheless, despite a slight stabilization in the market due to a drop in COVID-19 cases, hospital admissions are still rising, which is anticipated to have an adverse effect on the industry's expansion.

Global Compression Garments And Stockings Market Segmentation:

The global compression garments and stockings market report is segmented into by Product Type, by Application, and Region.

By Product Type, the market is segmented into compression garments and compression stockings. Out of which Compression garments is preferred because it is improving athletic performance and speed up muscle recovery. Wearing compression clothing can increase blood flow, lessen muscular weariness, and stop injuries. Demand for these products is driven by the increased use of sports compression garments among amateur and professional athletes. E-commerce has furthermore made it simpler for customers to buy compression apparel and stockings online, fueling industry expansion.

By Application, the market is segmented into Varicose Veins, Wound Care, Burns, and Oncology. Out of which, Varicose Veins is getting more importance in terms og Compression therapy, because Compression therapy is highly preferred by end users as the first line of therapy for the treatment and management of varicose veins, and over the projection period, varicose vein treatment segment of the market held the biggest market share worldwide.

By Distribution Channel, the market is segmented into hospitals, ambulatory surgical centers, clinics, online channels, and other healthcare facilities. Out of these, hospitals are expected to hold the largest share of the market as a result of the increased use of compression therapy and rising hospitalization rates.

Among all the segmentations, due to health-conscious consumers, patients with venous problems, greater use of physical activity in daily life, and beauty consciousness. Additionally, T-shirts and shorts have been replaced by the fashionable designs and cozy fabrics of compression clothing. Thus, these lifestyle changes have fueled the expansion of the global market. The growth of the compression stockings market as a whole depends on strategic partnerships. Given that the majority of compression stocking items on the market are made for female customers, the women's segment has a bigger value share than the men's segment. Women's compression stockings offer medical remedies for impaired blood flow in the leg, but they also have enticing patterns, colors, and designs that appeal to their target market. Women prefer compression stockings that reach the thigh the most. The main variables anticipated to affect the growth of the compression stockings Market are an increase in diabetes cases and the world's aging population. Compression stocking demand is also anticipated to increase as chronic diseases become more common.

Global Compression Garments And Stockings Market Cross Sectional Analysis:

The use of compression garments during and following exercise has become increasingly popular over the last three decades. Simply, compression garments provide mechanical pressure to the body, which may have physiological, biomechanical, performance, and perceptual benefits for individuals exercising. For instance, Sports Medicine Journal 2021, finding suggest potential improvements in arterial blood flow, however, it is doubtful that compression clothing will significantly alter metabolic reactions, blood pressure, heart rate, and cardiorespiratory measurements. Although the rating of felt intensity during exercise is probably unaffected, compression garments may enhance localized skin warmth and may lessen sensations of muscular soreness and pain after exercise. Compression clothing is unlikely to have a negative impact on the results of the exercise. The wearer's perception of compression garments should be evaluated in future studies, along with pressure ranges at various spots and the garment's material, individual reactions and different compression coverage areas.

Global Compression Garments And Stockings Market: Key Developments

On April 4, 2023, AIROS Medical Inc., a medical technology manufacturer, designer, and specification developer specializing in compression therapy, received U.S. Food and Drug Administration (FDA) 510(k) clearance for its AIROS 8P sequential therapy device and garment system. The clearance also lets AIROS offer larger compression therapy garments, including lower truncal garments for abdominal swelling.

In February 2023, Therabody, Inc. enters the garment market with the world's first compression wearable with vibration. Now, Therabody is innovating in garments by elevating compression, used by a wide array of people from professional athletes to people with circulatory issues, edema, and pain. RecoveryPulse combines graduated compression with vibration therapy, woven into a germanium-infused wearable sleeve designed to help everybody feel better wherever they are, without stopping their daily routine.

 Global Compression Garments And Stockings Market: Key Trends

Road accidents and an increase in the older population may be factors in the market's expansion.

Elderly people who have arthritis as a result of other chronic conditions like heart disease, diabetes, and obesity are becoming more and more likely to wear compression clothing and stockings on a daily basis in order to improve their quality of life.

One of the leading causes of mortality and disability around the world is traffic accidents, followed by sports-related injuries. Accident situations are frequently accompanied by moderate or severe skeletal system injuries. Compression treatment devices are frequently utilized in these situations to help the healing process and hasten patient recovery.

Increase in Knowledge about the Health and also the increase in the injury are the major factors for market expansion

As people's knowledge of health and fitness rises, more and more individuals around the world are actively participating in sports and physical activities. The frequency of sports injuries and injuries resulting from other forms of physical activity has consequently increased as a result of this trend.

Global Compression Garments And Stockings Market: Restraint

 Availability of Alternative of Compression Garments And Stockings

Tight-fitting stockings and compression garments may make some people's skin itchy and dry. The growth of the global market for compression garments and stockings is significantly hampered by this. A significant factor limiting the growth of the worldwide compression garments and stockings market is probably the accessibility of alternative medicines. Aside from anesthetic, additional pharmacologic agents, dressings, local wound care, topical or systemic antibiotics for untreated wounds, other pharmacologic agents, and complementary therapy are further possibilities for treating chronic venous insufficiency.

Complications such as itching, muscle pain, other factors brought on by excessive compression stocking use may limit the market's expansion for compression clothing and stockings. Compression stockings are typically simple to use, but incorrectly worn stockings might result in major issues such as rupturing of skin, particularly in aged, undernourished, and individuals with fragile, frail skin.

User friendly Compression Garments are needed which could expand the market, because alternatives like medicines are already available in the market which is providing the solution to the target patient group. The survery should be done among the patient to understand the patient need and interest.

Global Compression Garments And Stockings Market - Key Players

Major players operating in the global compression garments and stockings market include 3M, BSN Medical, Covidien Ltd. (a Medtronic Plc. company), Medi GmBH & Co KG, SIGVARIS, Therafirm, 2XU Pty. Ltd., Santemol Group Medikal, Leonisa, Inc., Nouvelle, Inc., Medical Z, Pressio, Hyperice, Marena Group, LLC, AIROS Medical, Therabody, SYM ITO, Hohenstein, Koya Medical, Mueller Sports Medicine, and CRX Compression.

Global Compression Garments And Stockings Market– Insights

Compression garments are elastic pieces of clothing with an engineered compression gradient that can be used for therapy and sports and can be worn on the upper, lower, or entire body. Compression garments focus on designing clothing with the right amount of pressure for particular applications. It addresses several kinds of compression clothing, as well as fibers and yarns, knitted fabric design, garment design, an assessment system, and pressure measurement and modeling. The compression garments' prediction, design, and manufacture are shown through the material properties, fabric properties, pressure modeling, and garment design system.