The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Compression Stockings Global Market Report 2024, the compression stockings market is expected to show significant growth in the forecast period.

Introduction

• The compression stockings market has witnessed robust growth in recent years, with a projected increase from $1.65 billion in 2023 to $1.75 billion in 2024, boasting a compound annual growth rate (CAGR) of 6.1%.
• This growth is underpinned by several factors, including the prevalence of chronic diseases, advancements in materials and design, regulatory support, and medical advancements.

Projected Growth and Market Dynamics

• Expectations for continued strong growth indicate a market size of $2.26 billion by 2028, with a CAGR of 6.5%.
• Driving forces include escalating healthcare expenditure, the expansion of e-commerce platforms, and a focus on customization and personalization in healthcare.
• Key trends in the forecast period encompass a demand surge for fashionable compression stockings, a shift towards sustainable materials, and the integration of digital health and telemedicine.

Addressing Deep Vein Thrombosis (DVT)

• The increasing prevalence of deep vein thrombosis (DVT) serves as a significant driver for market growth.
• DVT, characterized by blood clot formation in deep veins, is exacerbated by sedentary lifestyles and aging populations.
• Compression stockings play a crucial role in managing DVT by improving blood flow and reducing pain and swelling in the legs.
• Real-world data from August 2023 underscores the rising incidence of DVT, particularly in regions like the UK, indicating a pressing need for effective solutions.

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Innovations in Product Development

• Market leaders are innovating to meet diverse consumer needs, exemplified by the development of Female Curves Bodysuits.
• These specialized garments exert controlled pressure on the body, aiding in post-surgery recovery and medical applications.
• Marena Group LLC’s launch of a Female Curves Bodysuit demonstrates a commitment to catering to specific customer segments, enhancing comfort and support during the recovery process.

Strategic Acquisitions and Market Expansion

• Essity’s acquisition of ABIGO Medical AB in April 2021 exemplifies strategic moves to bolster product portfolios.
• This acquisition enhances Essity’s medical solutions by integrating ABIGO Medical AB’s expertise in compression socks for women.
• Such strategic maneuvers facilitate market expansion and signal a commitment to advancing medical solutions for various healthcare needs.

Market Segmentation

• The compression stockings market is segmented by type, distribution channel, and application.
• Types include compression socks and compression hosiery, catering to diverse consumer preferences.
• Distribution channels encompass offline and online platforms, reflecting evolving consumer shopping behaviors.
• Applications target specific demographics such as adult men, adult women, and the elderly, ensuring tailored solutions for varying needs.

Regional Outlook

• North America emerged as the dominant region in the compression stockings market in 2023.
• Asia-Pacific is poised to witness the fastest growth in the forecast period, driven by increasing healthcare awareness and infrastructure development.

Conclusion

• The compression stockings market’s trajectory underscores a commitment to holistic well-being and comfort.
• With innovations in product development, strategic acquisitions, and a focus on customization, the market is poised for sustained growth.
• As awareness of preventive healthcare rises and technological integration expands, compression stockings stand at the forefront of promoting health, comfort, and mobility for diverse consumer demographics worldwide.

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