Global Compression Socks Market To Be Driven By The Growing Awareness About The Product Benefits In The Forecast Period Of 2020-2025
The new report by Expert Market Research titled, ‘Global Compression Socks Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global compression socks market, assessing the market based on its segments like products, distribution channels, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 5%
The market for compression socks is being driven by the growing awareness about the benefits of compression socks. Some of its benefits are that it imparts great pressure on the legs, helps compress the surface veins, arteries, and muscles and force the blood to circulate through narrower channels, which eventually causes more blood to return to the heart and less blood to pool in the feet. The market is further being aided by the rising demand from the consumers and to meet the evolving demands, which is leading to the new development of functionalities like paddling on the footbed and moisture control. This is expected to aid the market growth over the forecast period.
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Industry Definition and Major Segments
Compression socks are specialised hosiery that helps prevent the occurrence and progression of venous disorders such as phlebitis, edema, and thrombosis. These socks are made of stronger elastics and are intended to create significant pressure on the legs, ankles, and feet.
By product, the market is divided into:
• Standard
• Graduated
The significant application segments of the product include:
• Varicose Veins
• Wound Care
• Burns
• Oncology
• Others
On the basis of distribution channel, the industry is segmented into:
• Hospitals
• Ambulatory Surgical Centres
• Clinics
• Online Sales
• Others
The regional markets for the product are:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
The compression socks industry is being driven by the growing incidences of venous disorders globally. The market is being facilitated by the sedentary lifestyle of people, which is leading to deep vein thrombosis (DVT) and related venous disorders. Further, the rising geriatric population across the globe is expected to enhance the prevalence of varicose veins, insufficiency, chronic venous, and other conditions. The market is further propelled by the rising R&D activities and new product launches across the globe, which is aiding the market growth. In addition, the rising preference for compression therapy is aiding the market growth for compression socks.
Key Market Players
The major players in the market are 3M Company (NYSE: MMM), Medi GmbH & Co. KG, Calzificio Zeta, BSN medical GmbH, Sigvaris AG, Therafirm, and Santemol Group Medikal, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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