HealthcareApril 18, 2023

Global Compression Garments And Stockings Market

As stated in our extensive report; the Global Compression Garments And Stockings Market accounted for USD 3.1 Billion in the year 2022 and is forecast to reach USD 4.5 Billion by 2030 at a CAGR of 5.5%.

The sports industry is a multi-billion-dollar sector with ever-increasing investment opportunities to be seen over the upcoming years. Players regularly experience bodily injuries during tournaments. Subsequently, with increasing instances of sports-related injuries, the market for Compression Garments And Stockings is expected to record significant growth in the upcoming years. Compression garments offer reduced vibration of muscles and ligaments during high-impact movement, graduated pressure exertion on limbs, and ensure continuous blood circulation throughout the body.

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The popularity of compression garments has also increased as rising awareness among denizens over physical and mental health has been positively impacted through government initiatives. Also, the increased geriatric population in European countries and rising cases of pediatric obesity in the United States have made compression garment manufacturers put out innovative, cutting-edge products that fulfill customer requirements and provide superior comfort.

This has caused the price of compression materials to go up significantly during the historical period. However, the COVID-19 pandemic has made things harder for manufacturers in numerous ways including supply chain malfunctions, raw material scarcity, and delays in shipment which has impeded the growth of this market.

Factors Influencing Global Compression Garments And Stockings Market Growth

The growth of the global Compression Garments And Stockings market can be attributable to the following:

  1. The Compression Garments And Stockings market is expected to be positively impacted by the growing adoption rate of compression garments in the postoperative care of patients who have undergone various types of operative procedures like orthopedic, cosmetic, bariatric, and replacement surgeries. Compression garments are made up of specialized elastics and fibres that facilitate healing and help in pain management.
  2. Various distribution channels such as hospitals and surgical centers hold substantial market shares and are raising awareness about the use of compression garments to facilitate healing and reduce putting unnecessary pressure on injuries. As a result, hospitals have been the largest distributor of Compression Garments And Stockings with a share of 35% in the historical period of study.
  3. Athletes and sportspersons are opting for Compression Garments And Stockings during their performances with cutting-edge technologies incorporated into them. This has resulted in a spike in research and development activities related to compression garments to come up with innovations such as antimicrobial, antistatic, and insulated sportswear coming up in the market in order to attract consumers.
  4. The advent of nanotechnology has brought about new possibilities for the Compression Garments And Stockings market, designer smart fabrics have flooded the textile industry with infection-suppressing capabilities which are able to respond to external stimuli. This has made the market more attractive to stakeholders and investments are predicted to increase substantially over the forecast period.
  5. Several regions across the world have proven to be profitable markets for Compression Garments And Stockings due to a variety of reasons. Germany and Japan have a growing population of geriatric citizens. With aging comes numerous health complications, including weaker bones and limbs, which provide lucrative expansion opportunities for this market in these countries. Similarly, the North American region has recorded a rising population of obese citizens as well as children under the age of 5. Obesity increases the chances of acquiring various medical conditions such as diabetes, embolisms, poor blood flow to limbs, and motility issues. This opens up the market for Compression Garments And Stockings.

North America Region Forecast to Lead the Global Market in the Estimated Period

North America is anticipated to account for the majority of sales on the global market for Compression Garments And Stockings. Many well-known players in the medical clothing business are based in this area. Local companies are introducing tailored products to satisfy customer needs. The North American Compression Garments And Stockings market will also benefit from the availability of value-added products, such as antimicrobial smart fabrics with advanced elasticity and support.

Conclusion

The Compression Garments and Stockings market sales have been favorably impacted by the rising number of sports tournaments and competitions and a shift towards nanotechnology-driver smart fabrics.

The well-known players in the Global Compression Garments And Stockings Market include- 2XU Pty Ltd (Australia), Ann Chery (Colombia), Colfax Corp. (U.S.), Creswell Sock Mills (U.S.), European Lingerie Group (Sweden), I-Runner (U.S.), Leonisa SA (Colombia), and others.