The compression stockings are primarily designed hosiery products which helps in improvising the blood flow to legs, blood clotting, and preventing the progression of various venous disorders and conditions. These products consist of compression garments used in the lower extremities, especially around the legs, these help in compressing the limb. The compression further decreases the diameter of swollen veins & boosts the velocity of venous blood and valve effectiveness. This form of therapy prevents venous stasis and venous walls impairment, relieves aching and heavy legs, and decreases venous pressure.
According to study, “Compression Stockings Market by Type (Knee High and Thigh high), Demography (Men and Women) and Distribution Channel (Departmental Stores and E-commerce): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global compression stockings market are Creswell Sock Mills,Spanx Inc., 2xu Pty Ltd., Triumph International Corporation, Leonisa, Ann Chery, I-Runner, Colfax Corporation (DJO Global), European Lingerie Group, and Zhende Medical Group.Some of the key manufacturers are now actively involved in the new product launch and the acquisition of companies designed to gain a larger market share for the compression socks market. The investments towards the product development and the overall collaboration with the various healthcare organizations some of the key strategies that is being adopted by manufacturers.
Based on product type, compression stockings market is segmented into thigh high compression stockings, knee high compression stockings, and pantyhose compression stockings. The knee-high segment is estimated to register the fastest CAGR due to availability of the product in various designs and attractive colors during the forecast period. Based on size, market is segmented into small size, medium size and large size. Based on demography, market is segmented into men and women. Based on condition, market is segmented into lymphedema, venous disorders, sports-related injuries, and others. In addition, based on distribution channel, market is segmented into hospital pharmacies & clinics, online specialty stores, retail stores, and others.
The compression stockings market is driven by rise in number of chronic venous leg ulceration (VLU) patients, followed by change in lifestyle, rise in demand from geriatric population and growth in advancement in fabrics and garments designs. However, Rise in awareness of probable side effects of compression garments may impact the market. Moreover, rise of social media marketing and continuous product innovation are key opportunities for market.
Based on geography, the North-American region dominates the compression stockings market owing to ongoing efforts by government & non-government organizations for creating awareness about conditions for instance venous disorders, lymphedema, etc. in the region. Whereas, the Asian-Pacific and European regions are likely to exhibit significant growth rate due to rise in incidence of venous disorders among the population over the forecast period. In upcoming years, it is expected that future of the market will be optimistic because of rise in number of health conscious consumers during the forecast period. The Compression Stockings market size was valued at US $1.6 billion in 2018 and is anticipated to reach US $2.4 billion by 2026, registering a CAGR of 5.6% from 2019-2026.
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Ankur Gupta, Head Marketing & Communications