USD 1.99 billion
Report ID:
SQMIG35B2154 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
63
|Figures:
70
Compression Stockings Market size was valued at USD 2.1 Billion in 2023 and is poised to grow from USD 2.22 Billion in 2024 to USD 3.43 Billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).
The compression stockings market is witnessing steady growth driven by the increasing prevalence of various venous disorders, such as deep vein thrombosis (DVT), varicose veins, and lymphedema. Compression stockings are designed to improve blood circulation, reduce leg swelling, alleviate discomfort, and prevent the progression of venous disorders. These stockings apply graduated pressure to the legs, exerting the highest pressure at the ankle and gradually decreasing towards the upper leg.
The market is segmented based on product type, including gradient compression stockings, anti-embolism compression stockings, and non-medical compression stockings. Gradient compression stockings, which offer varying levels of pressure across different parts of the leg, dominate the market due to their effectiveness in managing venous conditions. Additionally, the market is categorized into thigh-length, knee-length, and waist-length stockings to cater to diverse patient needs.
North America holds a significant share in the compression stockings market due to the rising geriatric population and increasing cases of venous disorders. Europe is also a prominent market, driven by a high prevalence of varicose veins and the adoption of preventive healthcare measures. The Asia-Pacific region is experiencing rapid growth due to growing awareness, increasing healthcare infrastructure, and rising disposable income.
Key drivers include the rising aging population, sedentary lifestyles, obesity, and a surge in chronic diseases that contribute to venous disorders. Moreover, advancements in material technologies, the availability of fashionable and comfortable compression stockings, and increasing awareness campaigns about venous health are further propelling market growth. As patients seek non-invasive and cost-effective solutions for managing venous conditions, the compression stockings market is expected to continue its expansion.
US Compression Stockings Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.99 billion
Largest Segment
Gradient Compression Stockings
Fastest Growth
Gradient Compression Stockings
Growth Rate
5.6% CAGR
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The Global Compression Stockings Market is segmented by Product Type, Application, Distribution channel, Region. Based on Product Type the market is segmented as, Gradient Compression Stockings, Anti-Embolism Compression Stockings, Non-Medical Compression Stockings, and Custom Compression Stockings. Based on Application the market is segmented as, Deep Vein Thrombosis, Chronic Venous Disorder and Diabetes Wounds. Based on Distribution the market is segmented as, Hospital Pharmacies, Retail Pharmacies & Drugs Stores and Online sale. Based on Region the market is segmented as, North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Compression Stockings Market Analysis By Product Type
The compression stockings market is categorized by product type into three main segments: gradient compression stockings, anti-embolism compression stockings, and non-medical compression stockings. Gradient compression stockings are the most prevalent in the market and are therefore dominant since 2022, as they are designed to exert a graduated pressure on the legs, providing the highest compression at the ankle and gradually decreasing pressure towards the upper leg. These stockings are widely used to alleviate symptoms and manage conditions such as varicose veins, deep vein thrombosis (DVT), and edema.
Anti-embolism compression stockings, on the other hand, are specifically designed for individuals at risk of blood clots, especially those recovering from surgeries or immobilized for extended periods and are further projected to emerge as the fastest growing segment. These stockings help prevent blood pooling and clot formation. Non-medical compression stockings cater to a range of needs beyond medical conditions, including sports, travel, and fashion. While offering mild compression, they enhance circulation during activities and reduce leg fatigue. Each product type serves distinct purposes, addressing various medical conditions and lifestyle requirements, contributing to the diverse array of compression stockings available in the market.
Compression Stockings Market Analysis By Application
The compression stockings market is categorized based on application type, encompassing medical and non-medical uses. In the medical segment, compression stockings are utilized for various venous disorders, including deep vein thrombosis (DVT), varicose veins, chronic venous insufficiency, and lymphedema. Thus, this segment is dominant since 2022 These conditions often lead to leg swelling, discomfort, and potential complications, necessitating the use of compression stockings to enhance blood circulation, alleviate symptoms, and prevent disease progression. Medical compression stockings are prescribed by healthcare professionals and are available in different pressure gradients tailored to the severity of the condition.
On the other hand, non-medical compression stockings are projected to emerge as the fastest growing segment as they are designed for individuals who are seeking comfort and support during activities that involve prolonged periods of standing, sitting, or traveling. These stockings are often used by athletes, frequent travelers, and individuals working in occupations that demand prolonged hours on their feet. They offer mild compression to aid in reducing leg fatigue and improving overall comfort. The non-medical segment is witnessing increased demand as individuals recognize the benefits of compression stockings in maintaining leg wellness and reducing discomfort, even in the absence of specific medical conditions. Both medical and non-medical applications contribute to the expanding growth of the compression stockings market as people seek solutions to improve their leg health and overall well-being.
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The compression stockings market exhibits regional variations driven by factors such as healthcare infrastructure, prevalence of venous disorders, and awareness about leg health. North America holds a significant share due to a growing aging population and a rise in lifestyle-related venous conditions. The region's advanced healthcare facilities and high awareness levels among the population contribute to market growth. Europe is also a prominent market due to a higher prevalence of venous disorders attributed to genetic predisposition and a sedentary lifestyle. The region's emphasis on preventive healthcare and accessibility to medical products further boosts the adoption of compression stockings.
The Asia-Pacific region is witnessing rapid growth as awareness about venous health increases and healthcare infrastructure expands. Rising disposable income and urbanization lead to sedentary lifestyles, contributing to the prevalence of venous conditions. Additionally, the demand for compression stockings in this region is fueled by the growing elderly population and a surge in chronic diseases. Developing regions such as Latin America and the Middle East are gradually recognizing the significance of preventive healthcare measures, propelling the adoption of compression stockings.
In summary, the market's regional dynamics are shaped by a combination of factors including healthcare infrastructure, demographic trends, lifestyle choices, and awareness campaigns. As people become more conscious of venous health and seek non-invasive solutions for leg-related issues, the demand for compression stockings is anticipated to continue growing across various regions.
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Compression Stockings Market Drivers
Growing Prevalence of Venous Disorders:
Aging Population:
Compression Stockings Market Restraints
Lack of Awareness:
Inconvenience:
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The competitive landscape of the compression stockings market is characterized by the presence of several established players and a growing number of emerging companies. Leading companies in the market are focusing on product innovation, strategic partnerships, and expanding their distribution networks to maintain their competitive edge. They are investing in research and development to introduce advanced materials, designs, and technologies that enhance the efficacy and comfort of compression stockings.
Key players often engage in collaborations with healthcare professionals and institutions to promote awareness about venous health and the benefits of compression therapy. This not only helps in expanding their customer base but also contributes to establishing their brands as trusted solutions in the medical community.
Compression Stockings Market Top Player’s Company Profile
Compression Stockings Market Recent Developments
Together, Nufabrx and Enventys Partners will launch HealthWear, a proprietary smart-textile platform, into the market in November 2023. Because of this partnership between Nufabrx and Enventys Partners, goods with HealthWear technology may be quickly developed and introduced into retailers across the globe.
Prevena RESTOR AXIO.FORM, an incision Care System from 3M, was introduced in October 2023. It is intended to treat post-operative wounds and the surrounding soft tissue envelope following orthopedic surgical restoration of lower extremity fractures.
The FDA's 510(k) clearance for AIROS Medical Inc.'s AIROS 8P sequential therapy device and garment system was granted on April 2023. AIROS Medical Inc. is a compression therapy-focused medical technology manufacturer, designer, and specification developer. Additionally, the clearance enables AIROS to provide larger compression therapy garments, such as lower truncal garments for edema in the abdomen.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Compression stockings market analysis, the increasing prevalence of venous disorders, aging populations, rising awareness about vascular health, and sedentary lifestyles. Compression stockings provide effective management and prevention of conditions like deep vein thrombosis, varicose veins, and edema. They find application in various sectors including healthcare, sports, and fashion. Regionally, North America and Europe lead the market due to higher healthcare awareness and well-established medical infrastructure. The Asia-Pacific region is also witnessing rapid growth due to an expanding geriatric population and growing healthcare expenditure. The market is segmented based on type, material, application, and distribution channel. As individuals become more conscious of their venous health and the importance of preventive measures, the demand for compression stockings is rising. These garments offer a non-invasive, accessible solution for a range of conditions, aligning with the broader trend of proactive healthcare management. The market's trajectory is further supported by ongoing product innovations and collaborations between medical professionals and industry stakeholders.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 2.1 Billion |
Market size value in 2032 | USD 3.43 Billion |
Growth Rate | 5.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Compression Stockings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Compression Stockings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Compression Stockings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Report ID: SQMIG35B2154
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