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Global Compression Socks Market to Grow at a CAGR of 5% During 2020-2025, Aided by the Growing R&D Activities and New Product Launches

According to a new report by EMR titled, ‘Global Compression Socks Market Report and Forecast 2020-2025’, the global market for compression socks is expected to grow at a CAGR of 5% between 2020 and 2025.

The manufacturers of compression socks are focusing on differentiating their products from that of competitors to enhance customer experience and gain a prominent position in the market. The growing popularity of compression wear among athletes and gym enthusiasts is driving the growth of the global compression socks industry. There has been a rise in the number of health-conscious customers and the growing trend of athleisure. Currently, North America leads the global compression socks industry owing to the increasing popularity of compression wear in sports such as table tennis, cycling, and baseball and continuous innovations in shapewear by key players. The increasing demand for high-end compression clothing and growing preference for eye-catching and fashionable compression socks among women in the United States is supporting the growth of the regional industry. The manufacturers are aiming to prepare products from materials that best suit the consumer demand.

The growing R&D activities are leading to the introduction of new products. In December 2016, Sigvaris AG launched a new line of anti-embolism stockings, particularly designed to aid in the treatment of deep vein thrombosis (DVT or blood clot). The easy availability of these stockings through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to boost the demand for the product in the coming years. Moreover, the growing mergers and acquisitions and cross-industry collaborations are further aiding the market growth. For instance, in April 2017, BSN medical, one of the leading players in the industry, was acquired by Swedish Essity AB, a leading global hygiene and health company, thus, enhancing the global reach of both the companies.

Market Breakup by Product, Application, Distribution Channel, and Regions:

  • On the basis of product, the industry can be bifurcated into standard and graduated.
  • The various applications of compression socks include varicose veins, wound care, burns, and oncology, among others.
  • Based on distribution channel, the industry can be categorised into hospitals, ambulatory surgical centres, clinics, and online sales, among others.
  • Region-wise, the global market for compression socks can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The industry is being aided by the growing prevalence of venous disorders, which are reported to be higher among people with a sedentary lifestyle. 
  • The growing health concern among consumers and the increasing inclination towards athleisure and sports are significantly contributing to the growth of the compression socks industry. 
  • The industry will receive further impetus with the growing research and development activities, new product launches, and rapid technological advancements. 
  • The rising disposable incomes and the thriving retail sector are also accelerating the growth rate of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for compression socks for the periods (2015-2019) and (2020-2025). 
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the products, applications, distribution channels, and regional markets of compression socks.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global compression socks market are 3M Company, Medi GmbH & Co. KG, Calzificio Zeta, BSN medical GmbH, Sigvaris AG, Therafirm, and Santemol Group Medikal, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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