Compression stockings are specially designed hosiery products that help in improving blood flow to the legs, arrest blood clotting, and prevent the progression of a number of venous disorders and conditions. These products are a form of compression garments that are worn in the lower extremities, especially around the legs. The help in compressing the limb. The compression decreases the diameter of swollen veins and boosts the velocity of venous blood flow and valve effectiveness. This form of therapy prevents venous stasis and venous walls impairment, relieves aching and heavy legs, and decreases venous pressure.
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Rise in the number of patients with venous disorders worldwide is a key factor that is driving the growth of the compression stockings market. Venous disorders are chronic conditions that are caused by veins that become abnormal or diseased. They include conditions such as varicose veins, spider veins, leg pain, leg swelling, chronic venous insufficiency, leg ulcers, deep vein thrombosis (DVT), and others. According to the Society for Vascular Medicine, an estimated 30 million people in the U.S. suffer from venous disorders. Around 900,000 individuals are affected by DVT, and an estimated 60,000-100,000 deaths are reported in the country due to DVT every year according to Centers for Disease Control and Prevention (CDC) estimates. Venous disorders are common health issues faced by individuals, but very few seek treatment for these conditions due to lack of awareness as well as high treatment costs. The presence of a large patient pool is expected to offer lucrative growth opportunities for manufacturers of compression products for providing solutions for the management of these conditions.
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An increase in the elderly population is also expected to drive the growth of the market during the forecast period. The severity and high incidence of venous disorders such as varicose veins, chronic venous insufficiency, etc. increases greatly with age. According to the United Nations’ World Population Ageing report, the number of people above the age of 60 years stood at 962 million in 2017, which is anticipated to rise two-fold to reach 2.1 billion by 2050. Rise in the elderly population is anticipated to increase the number of individuals suffering from venous disorders. This, in turn, is expected to drive the demand for compression stockings used in the management of these conditions.
Additionally, new product launches by compressions garment manufacturers is another factor contributing to the growth of the compression stockings market. In December 2016, Sigvaris USA launched a new line of anti-embolism stockings used in the treatment of deep vein thrombosis (DVT). The anti-embolism stockings, which are available in calf-length and thigh-high styles, help in providing the benefits of graduated compression when transitioning from recovery to early rehabilitation following surgery. Rise in new product launches is expected to offer new growth avenues for manufacturers of compression stockings.
The global compression stockings market can be segmented based on product, condition, distribution channel, and geography. In terms of product, the compression stockings market can be divided into knee high compression stockings, thigh high compression stockings, and pantyhose compression stockings. Based on condition, the market can be classified into venous disorders, lymphedema, sports-related injuries, and others. In terms of distribution channel, the compression stockings market can be divided into online specialty stores, hospital pharmacies & clinics, retail stores, and others.
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In terms of geography, the global compression stockings market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global compression stockings market, owing to ongoing efforts by government and non-government organizations for creating awareness about conditions such as venous disorders, lymphedema, etc.. North America is followed by Europe and Asia Pacific. Increase in the aging population and rise in the incidence of venous disorders among the population in Asia Pacific are likely to fuel the market during the forecast period.
Prominent players operating in the global compression stockings market are BSN medical, Design Veronique, Julius Zorn GmbH, Marena Group, medi GmbH & Co. KG, Medico International Inc., and Sigvaris Management AG..
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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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