By Credence Research, Inc. “Compression Garments Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global compression garments market was valued at US$ 2,623.5 Mn in 2017 and expected to reach US$ 4,290.1 Mn by 2026, expanding at a CAGR of 5.5% from 2018 to 2026.
Market Insights
Compression garments are a type of clothing designed to reduce recovery time after surgery, regain lost body shape, reduce edema and improve athletic performance. These products assist in regularizing blood circulation to the muscles and tissues, which supports muscle warm up and their recovery after stress and exercise. Compression garments are broadly classified lower and upper extremities garments, facial garments, tops, bottoms and compression tapes. These products are also used for management and prevention of disorders such as deep vein thrombosis, circulatory issues, sports injuries and rehabilitation after surgery.
Growing number sports and recreational activities and consequent injuries across the world is an important factor that drive the global compression garments market towards growth. Of the several types of sports injuries occurring worldwide, a prominent section occurs to the limbs and also lead to damage to the vasculature. Treatment to the resulting trauma and edema requires compression therapy with compression pumps and garments.
The manufacturers of compression garments are continuously introducing newer products in the market with different sizes, materials, compression capacities and so on. Newer technologies in the nature and mechanism of these materials are also being perpetually introduced. Introduction of new products is expected to address the varied needs of the patients and users suffering from different types of venous diseases, injuries, and those who have underwent surgeries and require rehabilitation. Growing numbers of growth strategic moves is also expected to favor the growth of this market. Manufacturers are observed to adopt inorganic growth measures for augmenting their portfolio and outreach to the consumers. Market players are also engaged in acquisition activities as a part of expansion or entry strategy.
Geographically, the presence and demand for compression garments is the highest in the developed markets of North America and Europe. Asia Pacific will be the fastest growing regional market due to increasing prevalence of related diseases, large population pool, and burgeoning medical tourism industry for cosmetic and asthetic procedures. Some of the major players operating in the global compression garments market are McKesson Medical-Surgical Top Holdings Inc., BSN Medical, Medi GmbH & Co., SIGVARIS Management AG, Julius Zorn, Inc., Medico International, Inc., Spanx., Inc., Bio Compression Systems, Inc., Gottfried Medical, Inc. and Spectrum Healthcare, Inc.
Key Market Movements:
· Growing prevalence of painful conditions such as lymphedema, lipodermatosclerosis, varicose veins, etc.
· Increasing interest of the general population in sports and fitness activities
· Augmented amount of clinical evidence supporting the benefits of compression therapy in disease treatment and sports performance
Growing disposable incomes facilitating higher uptake of compression garments as performance accessories
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