Press release
Compression Garments and Stockings Market is Expected to Increase from $2770 in 2018 to $3590 million in 2023
Compression garments are skin-tight apparels, which stimulate blood circulation and stabilize muscles by exerting pressure on specific parts of the body. Compression apparel helps to improve stamina & body balance and control the body temperature. Whereas compression stockings are elastic hosiery garments applied to a lower limb to achieve graduated compression. They are utilized for treating lymph edema, venous hypertension, and venous ulcers to decrease edema and aid return of venous blood to the heart.
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The growth of the diseases such as varicose veins and lymph edema conjoined with the overall growth of the healthcare industry, ever growing global aging population which is affected by age-related muscular problems and the gradual rise of the fitness and sports industry are few drivers boosting the market worldwide. The demand for compression garments has risen since athletes prefer them to avoid injuries during an event. The producers are constantly innovating with the materials and revamping styles to woo more consumers. The compression garments and stockings market are extremely prosperous because of the constant modernization drive happening in the sports, fitness and healthcare sector.
Compression Garments and Stockings Market Forecast Report (2018-2023)
Global Compression Garments and Stockings Market size was around USD 2770 Million in 2018. It is expected to grow at a CAGR of 5.3% to reach USD 3590 Million by 2023.
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Compression Garments and Stockings Market Segmentation
The compression garments and stockings market are segmented on the basis of product type into compression garments and compression stockings. Compression garments segment is expected to grow at fastest rate in the global market over the forecast period. The compression garments and stockings market are segmented on the basis of application into varicose veins, wound care, burns, oncology, and others. Varicose veins segment is expected to grow at fastest rate in global market over the forecast period. Hospitals, ASC’s, clinics, online sales and other healthcare facilities are key end-users of the global compression garments and stockings market. The hospital's segment dominated the market in terms of revenue in 2018.
By geography the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global compression garments and stockings market. North America is anticipated to remain the leading region over the forecast period. The U.S. market is expected to grow at the highest CAGR mainly due to immense per capita health expenditures, and significant investments in R&D for effective treatment alternatives. Asia Pacific is anticipated to be the fastest growing region in the market during the aforementioned forecast period. Furthermore, the Middle East and Africa and Latin America are also anticipated to show significant growth for this market because of the increased burden of diseases.
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Major Players:
The major companies dominating this market for its products and services are
Leonisa, Inc.,
Medical Z,
2XU Pty. Ltd,
3M,
BSN Medical,
medi GmbH & Co KG,
Nouvelle, Inc.,
Santemol Group Medical.
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