FMI, a prominent market research firm, has unveiled a compelling outlook for the Global Compression Garments and Stockings Industry, forecasting an impressive Compound Annual Growth Rate (CAGR) of 4.9%. The industry, valued at US$ 2.8 Billion in 2022, is poised for a substantial surge, reaching an estimated US$ 3.9 Billion by the year 2029.
This robust growth trajectory is underpinned by a wave of new product launches, demonstrating a collective industry commitment to advancing safety and comfort for patients. The market landscape is currently witnessing a notable influx of innovations tailored to address the evolving needs of consumers, contributing to a significant uptick in the annual sales of compression garments and stockings.
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Key Takeaways – Global Compression Garments and Stockings Industry Study
- The growing adoption of compression garments for orthopedic post-surgical pain management has contributed to the significant market share of the segment by product type.
- Hospitals remain as prominent distribution channels for compression garments and stockings for patients suffering from muscle pain, swelling, and bone-related injuries.
- Online sales of compression garments and stockings are gathering momentum owing to favorable discounts and free shipping offered by various platforms.
- Growing preference for compression garments and stockings among the geriatric population in Western Europe contributed to the significant dominance of the region in the compression garments and stockings industry.
- An increasing number of sports injuries and wounds are expected to drive the compression garments and stockings market growth. Strict norms for the use of compression garments and stockings among armed forces personnel and athletes are anticipated to propel the market growth.
Rising Awareness Holds Key to Unlock New Markets
The key manufacturers in the global compression garments and stockings industry are keen to spread awareness about the benefits offered by compression garments and stockings. In May 2017, BSN Medical hosted panel discussions on chronic venous diseases and wound infection management at EWMA 2017. Medi GmbH & Co. KG spreads awareness through its alliance with the German Society for Arthroscopy and Joint Surgery, Eurocom, the German Association for Shoulder and Elbow Surgery, the German Knee Society, and other associations.
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More About Global Compression Garments and Stockings Industry Study
- Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2015 to 2029. The global compression garments and stockings industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- The study provides compelling insights into the compression garments and stockings industry based on product type (compression garments, compression stockings), application (varicose vein, wound care, burns, oncology, other indications), and distribution channel (hospitals, ambulatory surgical centers, clinics, online sales, other healthcare facilities) across seven major regions.
Global Compression Garments and Stockings Industry by Category by Product:
- Compression Garments
- Upper Compression Garments
- Lower Compression Garments
- Compression Stockings
- Anti-Embolism Compression Stockings
- Gradient Compression Stockings
By Application:
- Varicose Veins
- Wound Care
- Burns
- Oncology
- Others
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By Distribution Channel:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Online Sales
- Other Healthcare Facilities
By Region:
- North America
- Western Europe
- Eastern Europe
- APEX
- Japan
- Latin America
- Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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