Worldwide revenue from the compression socks market stands at US$ 662.5 Mn in 2022, with the global market estimated to surge ahead at a CAGR of 4.4% to reach a valuation of US$ 1.1 Bn by the end of 2033.
As assessed by Persistence Market Research, graduated compression socks segment is expected to hold a largest market value of US$ 418.7 Mn by 2023. Overall, compression socks market sales account for approximately 16.2% revenue share in the global compression therapy market, which was valued at around US$ 4.1 Bn at the end of 2022.
The Compression Socks Market is a rapidly growing sector of the healthcare industry. Compression socks are hosiery products designed to improve blood flow and reduce swelling in the legs. They are commonly used by people who stand or sit for long periods of time, such as athletes, travelers, and individuals with venous disorders.
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- Sigvaris Group
- Juzo Inc.
- Medtronic Plc.
- 3M Healthcare (3M Co.)
- Calzificio ZETA S.R.L.
- medi GmbH & Co KG
- Santemol Group Medikal
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Key Takeaways from Market Study
- Graduated compression socks hold around 60% value share, globally, due to their efficacy and use in the treatment of chronic venous disease and edema.
- Increased global prevalence of varicose veins and use of compression socks for their treatment is an augmenting factor toward demand.
- In terms of distribution channel, hospitals and online sales contribute to a large share in market due to their high-quality service.
- The region of North America is dominant in the global market for compression socks, and will continue to remain the most lucrative market over the forecast period.
“Compression garments are witnessing growth in emerging economies due to online advertisements and new product functionalities. Niche areas such as sports activities and oncology pose a promising opportunity for manufacturers,” says an analyst of Persistence Market Research.
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New Product Launches – Strategy by Key Players
Key manufacturers of compression socks use the strategy of introducing new and innovative products according to patients’ needs. This factor induces an intense competition among market players.
For instance, to increase the value of comfort, Medi GmbH & Co KG launched a class of compression socks with extra padding named ‘Duomed Relax’ in April 2019.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the compression socks market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031. The research study is based on product (standard compression socks and graduating compression socks), application (varicose veins, wound care, burns, oncology, and others), and distribution channel (hospitals, ambulatory surgical centers, clinics, online sales, and other healthcare facilities), across seven key regions of the world.
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