Compression Stockings Market Expected to Reach $3.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Compression Stockings Market," The compression stockings market size was valued at $1.9 billion in 2022, and is estimated to reach $3.4 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

The Compression Stockings industry is currently experiencing robust expansion, underpinned by a confluence of distinctive factors and prevailing industry dynamics. Compression stockings, designed to enhance leg blood circulation, have garnered favor across diverse demographics, including athletes, expectant mothers, and those grappling with venous ailments. This surge in demand underscores the market's ongoing evolution.

A noteworthy trend shaping the compression stockings market is the burgeoning consciousness regarding the manifold advantages of compression therapy. With an aging populace and an uptick in sedentary lifestyles, there is an escalating need for products capable of mitigating issues like deep vein thrombosis and varicose veins. Furthermore, strides in fabric technology have yielded more comfortable and aesthetically appealing compression stockings, making them increasingly attractive to consumers.

The market's expansion is predominantly propelled by the mounting prevalence of chronic venous disorders, encompassing deep vein thrombosis and chronic venous insufficiency. These protracted conditions necessitate enduring management, fueling Compression Stockings Market Demand for compression stockings. Additionally, the upsurge in sporting activities has led to heightened adoption of compression stockings among athletes, offering benefits in both performance enhancement and post-exercise recuperation.

The broadening spectrum of applications for compression stockings within the healthcare arena, spanning post-surgical recuperation and wound care management, is a substantial driver of Compression Stockings Market Growth. Furthermore, an accentuation on preventive healthcare and the globally increasing elderly demographic are poised to invigorate the need for these therapeutic garments.

Notwithstanding its promising trajectory, the compression stockings market trends grapples with challenges concerning affordability and accessibility. Premium-grade compression stockings can be prohibitively expensive, limiting accessibility for certain segments of the population. Additionally, the market's intense competitiveness, characterized by numerous manufacturers offering akin products, can exert pricing pressures and encumber profit margins.

Within this dynamic landscape, opportunities abound for innovating compression stocking designs and materials that augment comfort and efficacy. Expanding into nascent markets with burgeoning healthcare infrastructure and heightened awareness of venous disorders can proffer fresh avenues for business growth. Moreover, forging strategic alliances with healthcare providers and harnessing online distribution channels can facilitate companies in reaching a broader spectrum of clientele.

The compression stockings market analysis is segmented on the basis of type, demography, distribution channel, and region. By type, the market is classified into Knee High and Thigh High. By demography, the market is classified into Men and Women. By distribution channel, the market is classified into departmental stores and E-Commerce. Region-wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, and Rest of Asia-Pacific), And LAMEA (Latin America, Middle East, Africa).

On the basis of type, the compression stockings market is segmented into knee-high and thigh-high. The thigh-high segment accounted for a major Compression Stockings Market Share of the compression stockings market in 2022 and is expected to grow at a significant CAGR during the forecast period. In the compression stockings market, "thigh high" refers to a specific type of compression stockings that extend up to the thigh region. Thigh high compression stockings provide coverage and compression to the entire leg, from the foot or ankle up to the thigh. The increasing awareness of the benefits of thigh-high compression stockings and their effectiveness in managing venous disorders contribute to the growing demand in this segment.

On the basis of demography, the market is classified into Men and Women. The Women segment accounted for a major share of the compression stockings market in 2022 and is expected to grow at a significant CAGR during the forecast period. In the compression stockings market, the women segment refers to the specific demographic group of female consumers. Women form a significant portion of the target market for compression stockings due to various factors.  The women segment in the compression stockings market encompasses a wide range of compression stockings designed specifically to meet the needs and preferences of female consumers in terms of style, size, and comfort.

On the basis of distribution channel, the market is classified into departmental stores and E-Commerce. The departmental stores segment accounted for a major share of the compression stockings market in 2022 and is expected to grow at a significant CAGR during the forecast period. The demand for compression stockings in the departmental stores segment is rising in the market due to several reasons. Departmental stores offer a wide range of products, including compression stockings, making them a convenient one-stop destination for customers.

Region-wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, and Rest of Asia-Pacific), And LAMEA (Latin America, Middle East, Africa). The North America region accounted for a major share of the compression stockings market in 2022 and is expected to grow at a significant CAGR during the forecast period. The North America compression stockings market is a thriving industry characterized by robust growth and demand. With a large population and increasing prevalence of venous disorders, the market offers significant opportunities for manufacturers and suppliers. Rising awareness about leg health and the benefits of compression therapy, along with advancements in fabric technology and garment design, drive market growth.

The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the compression stockings market include Spanx Inc., Triumph International Corporation, 2xu Pty Ltd., Leonisa, Ann Chery, Colfax Corporation (DJO Global), I-Runner, European Lingerie Group, Creswell Sock Mills, and Zhende Medical Group.

KEY FINDINGS OF THE STUDY   

•By product type, the Thigh High segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.

•By demography, the Women segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.

•By distribution channel, the offline segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.

•By region, North America was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.