Global Compression Garments Market to witness substantial gains over 2020-2025

May 29, 2020

According to a recent study titled, ‘Global Compression Garments Market – Analysis By Product Type, By End User, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global compression garments market was worth USD 2,429.66 million in 2019 and is projected to record remunerative growth through 2025.

Rising geriatric population coupled with growing focus among leading manufacturers towards incorporating latest textile technology to develop enhanced garments in terms of size, shape, color, design and compression levels are the major growth drivers of global compression garments market.

Based on the product type, the market is bifurcated into upper compression garments and lower compression garment, wherein the latter segment is expected to accrue majority market share over the forecast period. The rising pervasiveness of varicose veins, lymphedema, deep vein thrombosis (DVT) socks and stockings edema, swelling, venous Insufficiency, and leg discomfort which can be treated by using lower compression garments is further favoring market expansion.

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Speaking of the end-user spectrum, the market is classified into hospitals, clinics, ambulatory surgical centers, and others. Clinics followed by others and ambulatory surgical centers segment will witness considerable gains in the coming years. The growth can be credited to the increasing collaborations and partnerships among leading players and clinics, surgeons, doctors, and hospitals to gain insights on the consumer’s requirement and accordingly deliver the products. Moreover, an upsurge in the demand for cosmetic surgeries, and escalating cases of breast cancer are enhancing the segment growth.

As per the regional analysis, global compression garments market is split into North America, Europe, and Asia Pacific. North America is slated to amass a remarkable market share by the end of 2025, owing to the presence of leading manufacturers in the region, and rising awareness among athletes regarding the health benefits of wearing compression garments and its role in quick recovery post workout or exercise. Moreover, growing demand for customized compression garments will further boost the regional market growth.

Key players operating in global compression garments market are Medtronic PLC, 3M, Medi GmbH & Co. KG, Design Veronique, Medio International Inc., Therafirm, Marena Group, Julius Zorn GmbH, Nuavella Inc., and Sigvaris Group.

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