Industry: Healthcare
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 240
Report ID: PMRREP13648
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.
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Compression Socks Market Size (2022) |
US$ 662.5 Mn |
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Projected Market Value (2033) |
US$ 1.1 Bn |
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Global Market Growth Rate (2023-2033) |
4.4% CAGR |
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Market Share of Top 5 Countries |
63.8% |
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.
The global market for compression socks recorded a historic CAGR of 4.5% in the last 8 years from 2014 to 2022.
Due to the strain that an obese person's body weight exerts on the skin and internal organs, they are at a higher risk of developing vascular disorders. The risk of venous thrombosis is raised by obesity. The probability of venous thrombosis recurring is also increased by obesity. The incidence of VTE recurrence is around 30% greater in overweight patients and 60% higher in obese patients when compared to people of normal weight. The market for compression socks is predicted to expand significantly among high-risk patients as obesity incidence rises.
Deep vein thrombosis (DVT) and other similar venous disorders have been linked to sedentary lifestyle, according to the Centers for Disease Control and Prevention (CDC). Sedentary behaviour is to blame for almost 2 million deaths annually. People have been utilizing compression garments, especially compression socks, as a therapeutic or as a preventive measure for years. The market for compression socks has been considerably impacted by this factor.
While Phlebelogical patients are the primary users of compression socks, other users have experienced an increased adoption of compression products. These major uses for compression socks are prevalent among sports enthusiasts and athletes. Compression socks used for athletics and sports activities have demonstrated a considerable improvement in muscle healing and prevention, as well as a reduction in delayed-on set muscle soreness (DOMS). While compression socks' effectiveness has been minimal for professionals, amateurs and beginners have seen a noticeable rise in muscle development when using them. Compression socks are increasingly being used by athletes, sports professionals, and amateurs.
The global market is thus likely to show high growth over the coming years at a CAGR of 4.2% and reach a global market size of US$ 1.8 Mn by 2033.
“Development of Compression Socks with New Functionalities”
Compression sock producers have been working to strengthen their position in the market from competitor companies in order to better serve customer needs and convenience. Manufacturers are concentrating on integrating novel features to their products, such as cushioning for the footbed and moisture regulation.
“High Risk of Venous Thromboembolism (VTE) Among Cancer Patients”
In many venous disorders, compression socks are utilized as preventive care. Although venous thromboembolism in cancer patients is still very common, pneumatic compression equipment have been the focus of preventive therapies. Although the use of compression socks for cancer patients is still in the experimental stage, it is anticipated that low cost and practical usage would satisfy customer needs. Compression socks have been demonstrated to be slightly less effective than expensive treatment equipment, but during the projected period, cancer patients are expected to adopt compression products for therapeutic benefits.
“Potential Benefits in Treating Target Conditions”
In orthopaedic surgeries, compression is frequently used to ease discomfort, reduce swelling, and speed up functional recovery. Demand is anticipated to increase during the forecast period due to potential advantages of using compression socks in the treatment of the target conditions, such as reducing leg and foot volume, venous reflux, and hypertension.
“Side Effects of Wearing Compression Socks to Impede the Market”
Despite the many advantages of wearing compression socks, there are also negative side effects. If the socks aren't the right size or if one is allergic to the material, it could result in skin changes. It's important to use compression socks properly to avoid skin damage, nerve damage, and infection. Compression socks have the potential to worsen ischemia (poor blood flow to any part of the body, particularly the heart), reduce the amount of oxygen in the blood, and impair circulation in people with abnormal arterial flow. There are times when wearing compression socks might make the feet tingle and hurt. Additionally, pain and corns and calluses on the foot are possible side effects of wearing compression socks.
“Lack of Standardization Hampering Market Growth”
There are several medical classes for compression socks, which are mostly used for therapeutic purposes. Although there is still no clear definition of standardization for the production of compression socks. There is confusion among existing brands as a result of regional differences in brand comfort levels. Compression sock effectiveness has also been impacted by different compression stages and sizes. Consumer confidence has suffered as a result in various areas. While this lack of consistency is now having a mild impact, it may worsen as brands expand their global footprint in the years to come.
Why is the U.S. Market Booming?
“Prevalence of Deep Vein Thrombosis”
The U.S. accounted for around 97.3% market share in the North America compression socks market in 2022.
More than 900,000 U.S. citizens experience deep vein thrombosis (DVT) each year. According to the CDC, between one-third and fifty percent of DVT patients will experience post-thrombotic syndrome, which includes long-term symptoms like swelling, pain, discolouration, and peeling in the affected limb. These stats are expected to create lucrative demand for compression socks in the future as well.
Will Germany Be a Lucrative Market for Compression Socks Manufacturers?
“Rising Cases of Sports Related Injuries”
With a 27.1% market share, Germany dominates the market in Europe in 2022.
Around 2 million sports-related injuries occur in Germany each year, according to a report that appeared in 2021 Springer journal. Compression sock demand is projected to increase as sports-related injuries are becoming more prevalent. Consumer awareness and online product promotion are projected to support market growth in Germany as online and e-commerce buying increases.
How is China Emerging as a Prominent Market for Compression Socks?
“Increasing Obesity Rates to Demand Compression Products”
China held a market share of about 50.9% of the regional compression socks market in 2022.
The majority of obese or overweight individuals are found in China. In China, 20% of children and adolescents and more than 50% of adults are overweight or obese. With increasing rate of obesity, there will be high demand for compression products, especially compression socks, consequently the market will further flourish.
Which Product is Driving Growth of the Global Market?
“Benefits Over Standard Compression Socks”
Graduated compression socks segment held around 60.0% share of the total compression socks market in 2022.
People choose graduated compression socks especially if they have desk job where sitting is for long time. When working at a desk or in an environment where standing is required more often than walking is required, many people wear graduated compression socks. Graduated socks comes with additional benefits as they provide varied pressure, as opposed to putting the same amount of pressure on the entire leg. The socks will be softer at the bottom of the knee while the ankle will be under the most pressure.
Which Application Segment Has Dominated the Compression Socks Market Globally?
“Increasing Rate of Varicose Vein”
Varicose Vein segment holds a major market share of around 48.1% in 2022 globally.
According to NCBI report, geographically, prevalence of varicose vein disorder ranges. Currently, varicose veins are estimated to affect 2% to 73% of the world's population. Age, gender, pregnancy, family history, smoking, obesity, genetic factor, and sedentary lifestyle are some of the risk factors linked to the progression of varicose veins. Assuming such estimates, there will be high demands for compression products including compression socks in the future for the management of such disorders.
Which Distribution Channel is Expected to Emerge as a Market Leader in the Future?
“Strong Consumer Base for e-Commerce”
Hospitals held the larger share of about 34.4% in the global market in 2022. Due to vast preference of patients suffering from venous vein disorders, they opt for treatments like compression therapy majorly from hospitals, as one get professional assistance from doctors and therapists in hospitals.
Online sales are expected to provide lucrative opportunities to the market players going forward. Due to lower costs associated with communication and infrastructure, major players as well as other small and medium-sized companies are gravitating toward online business. Online platforms allow the company easier access to their customers. Customers are being drawn in by the growing significance of online marketing techniques like advertisements. Due to the prevalence of social media applications, there are many marketing choices available today. This has a positive impact on the market for many products, including compression socks, and online sales are predicted to become a significant market segment in the coming times.
Key players are concentrating on new product manufacturing and expansion in developing regions. Key manufacturers are further enhancing their market position through strategies of expansion, new product launches, and expanded distribution channels like online sources of advertisement.
Key instances include:
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2014-2022 |
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Market Analysis |
USD Million for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Report Coverage |
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Key Companies’ Profile |
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Customization & Pricing |
Available upon Request |
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The global market is currently valued at around US$ 662.5 Mn in 2022.
Sales of the market are set to witness growth at a CAGR of 4.4% and be valued at around US$ 1.1 Bn by 2033.
Demand for the market increased at a 4.5% CAGR from 2014 to 2022.
U.S., China, Germany, the UK, and Japan accounted for the major share in the global market as of year 2022, holding around 63.8% market share.
The U.S. accounts for around 97.3% share of the North American market in 2022.
Latin America accounts for around 7.2% share of the global market in 2022.
China held a market share of about 50.9% of the regional compression socks market in 2022.
With a 27.1% market share, Germany dominates the market in Europe in 2022.
Brazil is set to expand at a CAGR growth of 5.4% over the forecast duration.
India is set to expand at a CAGR growth of 3.3% over the forecast duration.
