Global Compression Stockings Market Size, Share, Growth Analysis, By Product Type, By Application - Industry Forecast 2024-2031

The Global Compression Stockings Market size was valued at USD 1.99 billion in 2022 and is poised to grow from USD 2.10 billion in 2023 to USD 3.25 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

The market for compression stockings is expanding steadily due to the rising incidence of different venous conditions such lymphedema, varicose veins, and deep vein thrombosis (DVT). Compression stockings are intended to enhance blood flow, lessen discomfort, lessen leg edema, and stop the advancement of venous diseases. Gradient pressure is applied to the legs by these stockings, with the greatest pressure being applied at the ankle and progressively lessening towards the upper leg.

Product types, such as gradient compression stockings, anti-embolism compression stockings, and non-medical compression stockings, are used to segment the market. Gradient compression stockings are the industry leader because of their superior ability to treat venous problems. They provide varied pressure levels to different areas of the leg. To meet the various needs of patients, the market is further divided into stockings that are thigh-, knee-, and waist-length.

The market for compression stockings is dominated by North America because of the region's growing senior population and rising incidence of venous diseases. Due to the high frequency of varicose veins and the implementation of preventative healthcare measures, Europe is another significant market. Growing healthcare infrastructure, increased disposable income, and growing awareness are all contributing to the Asia-Pacific region's rapid growth.

The aging population, obesity, sedentary lifestyles, and an increase in chronic illnesses are major causes of venous problems. Further driving market expansion are developments in material technologies, the availability of stylish and comfy compression stockings, and the expansion of venous health awareness programs. The market for compression stockings is anticipated to grow further as patients look for less invasive and more affordable ways to treat their vein problems.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Compression Stockings Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Compression Stockings Market Segmental Analysis

There are four segments in the global compression stockings market: product type, application, distribution channel, and region. The compression stocking market is divided into four segments based on the kind of product: gradient stockings, anti-embolism stockings, non-medical compression stockings, and custom compression stockings. The market is divided into three segments based on application: diabetes wounds, chronic venous disease, and deep vein thrombosis. The market is divided into three segments based on distribution: hospital pharmacies, retail pharmacies and drug stores, and online sales. The market is divided into the following regions: Latin America, the Middle East, Africa, North America, Europe, and Asia Pacific.

Drivers of the Global Compression Stockings Market

One of the main factors propelling the compression stockings market is the increasing prevalence of venous illnesses such varicose veins, chronic venous insufficiency, and deep vein thrombosis (DVT). Because of the discomfort, edema, and possible consequences associated with these illnesses, there is a need for compression stockings to manage symptoms and stop the disease from getting worse.

Restraints in the Global Compression Stockings Market

Even with rising knowledge, there are still certain areas and populations where people are unaware of the advantages of compression stockings and venous diseases. Because potential customers are unaware of the value of these products, this hinders market expansion.

Market Trends of the Global Compression Stockings Market

Technological Developments: The materials and production technologies used in the compression stockings market are advancing significantly. Novel materials that retain therapeutic efficacy while improving comfort and wearability include seamless designs and textiles that wick away sweat.