Compression Socks Market 2022 Global Industry Size, Demand, Growth Analysis, Share, Revenue and Forecast 2031

New Work, United States, 2022-Apr-07 — /EPR Network/ —

Compression Socks Market 2022

Compression Socks Market is likely to grow immensely, i.e. reach US$ 1 Bn at a CAGR of 5%. Physical health apps are gaining popularity. They are inclusive of calorie trackers, step-counters, and exercise and nutrition-based apps. These apps are to be at the forefront with regards to capitalizing on those having chronic ailments like high blood pressure, heart diseases, or diabetes. This would be a significant arm of the healthcare industry.

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 (2022 – 2031).

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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.

Key Players:

The report has profiled some of the important players prevalent in the global like – Medtronic Plc, Essity, 3M Corporation, SIGVARIS Group, Santemol Medical Group, Calzificio ZETA S.R.L., Sanyleg Srl, Therafirm, medi GmbH & Co KG, Santemol Medical Group and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Compression Socks Market.

                                                                                                                                                                   

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.

New Product Launches – Strategy by Key Players

Key manufacturers of compression socks use the strategy of introducing new and innovative products according to patients’ needs. This factor induces an intense competition among market players.

For instance, to increase the value of comfort, Medi GmbH & Co KG launched a class of compression socks with extra padding named ‘Duomed Relax’ in April 2019.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Compression Socks Market Manufacturers
Compression Socks Market Distributors/Traders/Wholesalers
Compression Socks Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Key Questions Answered in the Compression Socks Market Report

How is the Compression Socks Market expected to grow over the projected period?

What direction is the Compression Socks Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Compression Socks Market in future?

What are the key market drivers in the Compression Socks Market?

What are significant opportunities and improvement areas for Compression Socks Market manufacturers?

What are the key developments and trends taking over the Compression Socks Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Compression Socks Market?

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PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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