Global Compression Socks Market to Grow at a CAGR of 5% During 2024-2032, Aided by the Growing R&D Activities and New Product Launches

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.

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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 (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) 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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