Recent report published by research nester titled “Compression Hosiery Market : Global Demand Analysis & Opportunity Outlook 2024″ delivers detailed overview of the global compression hosiery market in terms of market segmentation by product, by compression level, by demography, by distribution channel, by market type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global compression hosiery market is segmented into product such as compression socks, compression stockings, pantyhose, compression shorts, compression tights, compression calf sleeves and compression leg sleeves. Among these segments, compression stockings segment is expected to occupy the top position in the market. Availability of wide range of product portfolio in the market is anticipated to drive the growth of the compression stockings market. Compression stockings market is further segmented into knee high and thigh high, out of which, thigh high compression stockings is anticipated to grow at robust CAGR during the forecast period.
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Global compression hosiery market is expected to flourish at a CAGR of 5.3% over the forecast period. Moreover, the global compression hosiery market is projected to garner USD 3,714.9 Million by the end of 2024. Increasing prevalence of venous diseases, growing adoption of compression therapy and rising old age population are some of the factors which are believed to impel the growth of the compression hosiery market.
In the demography segment, women compression hosiery segment is projected to witness a significant CAGR during the forecast period. Moreover, the women compression hosiery segment is expected to account for the largest share of revenue across the globe. High incidence rate of chronic venous insufficiency among women is believed to be the foster the growth of the women compression hosiery market. Further, wide scale utilization of compression hosiery in various cases such as pregnancy and breast cancer is anticipated to intensify the growth of this segment.
Rising Popularity of Compression Therapy
Increasing adoption of compression therapy as an alternative to DVT (deep vein thrombosis) and other prophylaxis is anticipated to enhance the penetration of compression hosiery products in the upcoming years. Further, rising demand for compression products among athletes is expected to supplement the expansion of the compression hosiery market.
Innovation in Compression Hosiery Products
Advances in technology and continuous innovation with the materials and design are expected to drive the growth of the compression hosiery market in the long run. Manufacturers of compression hosiery are also providing custom fit compression hosiery which further is anticipated to impel the growth of the compression hosiery market.
Although, high cost of advanced compression hosiery products and lack of awareness are some of the factors that are likely to inhibit the growth of the compression hosiery market in the near future.
This report also provides the existing competitive scenario of some of the key players of the global compression hosiery market which includes company profiling of SIGVARIS, Juzo USA, BSN medical GmbH, medi UK Ltd., VIM & VIGR., 2XU Pty. Ltd., Comfort Plus Corporation, SUNPOLAR International Co., Ltd., Nikkora and HARTMANN GROUP.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global compression hosiery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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