Sign in

Compression Stockings Market Size: Evaluating Global Reach

Compression Stockings Market Size: Evaluating Global Reach

The compression stockings market has witnessed significant growth in recent years. Compression stockings aid in improving blood circulation by applying steady pressure on lower legs. Made using stretchy fabrics like nylon, polyester and cotton, compression stockings help prevent varicose veins and treat leg swelling caused by long periods of standing or sitting. The need for compression stockings is growing among athletes and medical patients experiencing leg pain and injuries.

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 System, BSN Medical, Devon Medical Products, Flow Aid medical technologies, Design Veronique, Julius Zorn GmbH, and Medtronic SIGVARIS. These companies are investing in research & development to introduce innovative compression fabric materials and product designs.

The rising prevalence of varicose veins and leg swelling disorders is expected to drive market demand. Favorable reimbursement policies for compression stockings prescribed for medical purposes will boost product adoption. Growing health awareness is encouraging people to use compression stockings for preventive healthcare.

Advancements in fabric material engineering have improved compression stocking comfort, durability and efficacy. Companies are developing breathable, lightweight fabrics that offer graduated compression without restricting motion. Smart fabric technologies integrate sensors to track health parameters and advise users on compression levels.

Market Drivers

Aging Population: The risk of developing circulatory issues increases with age. With rising life expectancy worldwide, the older population vulnerable to leg problems is growing rapidly. This will propel compression stockings market growth.

Longer Working Hours: Long periods of sitting or standing put office workers at high risk of varicose veins and leg swelling. Increasing work pressure and hectic schedules are driving the need for preventive compression garments.

Awareness: Successful marketing campaigns by leading brands have elevated awareness about compression stockings benefits. People are more readily opting for them to prevent or manage circulatory issues.

Current challenges in Compression Stockings market:

The compression stockings market is facing several challenges currently. The demand for compression stockings has increased over the years due to rising obese population globally. However, lack of reimbursement policies for compression stockings is hampering market growth. Also, availability of alternative therapies to treat varicose veins and leg swelling is restricting the sales of compression stockings. High cost of custom-fit medical compression stockings is another challenge for market players to address. Maintaining supply chain efficiency and minimizing production costs remain key priorities.

SWOT Analysis

Strength: Rising obese population worldwide is driving demand. Compression stockings are effective in reducing leg pain and swelling.

Weakness: Lack of reimbursement policies limits market growth. High costs restrict adoption in low-income regions.

Opportunity: Untapped growth potential in Asia Pacific and Latin America offers scope. Innovation in fabric technology and design can boost sales.

Threats: Alternatives like sclerotherapy pose competition. Economic slowdowns impact discretionary healthcare spending.

Geographical regions of concentration:

North America currently accounts for the largest share of around 35% of the global compression stockings market. Rising awareness regarding preventive healthcare and presence of major players hasmade the region dominant. Europe is another major regional market with Germany, UK and France among leading country markets.

Fastest growing region:

Asia Pacific region is poised to witness the highest growth during the forecast period with a CAGR of over 12%. This can be attributed to growing medical tourism industry, rising obesity, increasing healthcare expenditures and expansion of key market players in countries like India and China. Greater adoption of compression stockings driven by improving standards of living will support regional market growth.

Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more