Global Compression Garments And Stockings Market Is Estimated To Witness High Growth Due To Increasing Geriatric Population And Rising Prevalence Of Chronic Diseases

 

Overview:

A wide range of compression garments are designed for different purposes. These can be used for medical purposes, for sportswear, and for body shaping. These garments are usually made from elastic fibers and spandex or Lycra fabrics. They come in various designs and varying degrees of compression, which can be helpful for people who suffer from varicose veins or other conditions related to poor circulation such as edema, phlebitis, and deep vein thrombosis. They can also be worn for a number of other reasons, including to help relieve pain after exercise and improve blood flow. Compression stockings also help to promote the function of one-way valves in the veins, which prevent backflow of blood and encourage venous return to the heart. These stockings can be useful for a number of conditions, however it is important to consult a doctor before using them.

Market Dynamics:

Growing acquisitions are estimated to augment growth of the global Compression Garments and Stockings Market over the forecast period. For instance, a manufacturer of medical devices in Europe Thuasne SAS acquired Knit-Rite Inc. and Therafirm, its division in January 2021. This division was providing compression products, including compression socks. Moreover, increasing prices of garments and stockings is anticipated to restrain growth of the global compression garments and stockings market over the forecast period.

Impact of COVID-19:

 

COVID-19 was announced as a public health crisis in 2020 by the World Health Organization. This outbreak impacted almost every business, and had long-term consequences in lives of many people. The pandemic resulted in imposition of strict lockdowns in many nations and these restrictions hampered the growth of various markets. Owing to lockdowns imposed in m any countries, all sports tournaments and events were cancelled. All international and national sports activities were halted due to rapid transmission of the virus. This led to decrease in demand of compression garments and stockings. Thus, COVID-19 had a negative impact on the compression garments and stockings market.

Key Takeaways:

 

The global compression garments and stockings market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing product launches. For instance, 3M declared the availability of the PREVENA RESTOR AXIO.FORM Incision Management System, in October 2020. This system is used for managing post-operative incisions around soft tissue envelope.

North America is anticipated to witness significant growth in the global compression garments and stockings market over the forecast period, owing to growing geriatric population and increasing sports injuries.

Major players operating in the global compression garments and stockings market are Cardinal Health, 3M, SANYLEG SRL a socio unico, BSN Medical, Medtronic, Nouvelle Inc., Therafirm., Smith & Nephew plc., Medical Z, medi UK Ltd, E.C.I. ELASTIC CO., LTD., Therafirm, SIGVARIS GROUP, VIM & VIGR, Julius Zorn, Inc., Marena Group, LLC, medi GmbH & Co KG, 2XU, Design Veronique, and Santemol Group Medikal.