The compression stockings market comprises medical hosiery items including knee high, thigh high and pantyhose stockings used to reduce pressure on veins and improve blood circulation. Compression stockings apply gentle pressure on the leg muscles and veins, helping the blood flow back to the heart. They are commonly prescribed by doctors for conditions involving Swollen legs or ankles, Varicose veins, Deep vein thrombosis (DVT) and other chronic venous disorders.
The global compression stockings market is estimated to be valued at US$ 14,869.5 Mn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the compression stockings market are Bio Compression Systems, BSN Medical, Devon Medical Products, Flow Aid medical technologies, Design Veronique, Julius Zorn GmbH, and Medtronic SIGVARIS. Over the recent years, there has been a significant rise in the incidence of varicose veins and deep vein thrombosis owing to prolonged sitting hours, obesity and lack of physical activity. This has boosted the demand for compression stockings across healthcare and orthopaedic facilities globally. Major market players are focusing on new product launches, strategic partnerships and targeting emerging economies to cater to the growing needs and tap the untapped potential of Asia Pacific and Latin American regions.
Market Key Trends
With growing health awareness, the trend of using compression stockings as a preventive treatment for blood clot-related issues is gaining traction. Many sports professionals and athletes are incorporating compression stockings in their training regime to improve blood flow and reduce muscle fatigue. Recent advancements in fabric technology have led to development of lightweight, breathable yet highly compressive socks that are comfortable for daily use. This has increased compliance and expanded the consumer-base beyond medical purposes only.
Porter’s Analysis
Threat of new entrants: Low barriers to entry limits threat for new players.
Bargaining power of buyers: Large number of buyers and low switching cost increases buyer power.
Bargaining power of suppliers: Dependence on few suppliers of raw materials reduces supplier power.
Threat of new substitutes: Alternate compression and support garments pose substitution threat.
Competitive rivalry: Intense competition based on design, material, and brand value.
Geographical Regions
North America currently holds the largest share of the compression stockings market due to rising elderly population suffering from chronic venous disease and varicose veins in the region. Factors such as growing obese population and awareness are further expected to drive the regional market during the forecast period.
Asia Pacific compression stockings market is projected to witness the fastest growth over the forecast period owing to increasing healthcare expenditures, rising disposable incomes, growing obese population, and increasing incidences of diabetes in countries such as China and India. In addition, expanding medical tourism industry in the region will support the regional market expansion through 2030.
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