The Compression Socks Market is destined to reach US$ 600 Mn at a CAGR of 4.9% between 2021-2031. The healthcare vertical is moving the gadget-way. The current scenario is such that one need not make appointments for weeks/months for being treated. The real-time diagnosis and course of treatment could be possible. This simultaneous monitoring and treatment are bound to take the healthcare industry by storm in the next 10 years.
Rise in prevalence of venous disorders such as deep vein thrombosis and chronic venous insufficiency, coupled with diabetic foot ulcers, has led to a surge in the demand for compression socks. Rising awareness about the efficacy of compression socks and introduction of new functionalities according to consumer demand are aid market growth.
Increasing demand for compression socks in active sports and travel is also expected to create a positive opportunity of growth in different markets over the forecast period. Increase in investments in emerging economies for manufacturing compression garments and new product launches, along with acquisitions and collaborations by key players, is expected to aid in market expansion as well.
The global compression socks market was valued at US$ 600 Mn in 2020, and is expected to exhibit a CAGR of around 5% over the forecast period (2021 – 2031).
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Company profiles:
- Sigvaris Group
- Juzo Inc.
- Medtronic Plc.
- 3M Healthcare (3M Co.)
- Calzificio ZETA S.R.L.
- Essity
- SanylegSrl
- Therafirm
- medi GmbH & Co KG
- Santemol Group Medikal
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Key Takeaways from Market Study
- Graduated compression socks hold around 60% value share, globally, due to their efficacy and use in the treatment of chronic venous disease and edema.
- Increased global prevalence of varicose veins and use of compression socks for their treatment is an augmenting factor toward demand.
- In terms of distribution channel, hospitals and online sales contribute to a large share in market due to their high-quality service.
- The region of North America is dominant in the global market for compression socks, and will continue to remain the most lucrative market over the forecast period.
“Compression garments are witnessing growth in emerging economies due to online advertisements and new product functionalities. Niche areas such as sports activities and oncology pose a promising opportunity for manufacturers,” says an analyst of Persistence Market Research.
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