This report provides exclusive insights into the COVID-19 impact on the Compression Garments and Stockings Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Compression Garments and Stockings Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Compression Garments and Stockings Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
The study also highlights the impact of drivers, restraints and macro indicators on the global and regional compression garments and stockings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global compression garments and stockings market. According to the report, the global compression garments and stockings market is projected to grow at a CAGR of 4.6% over the forecast period of 2018-2024.
Compression garments are pieces of clothing that fit tightly around the skin. Compression garments are used by those people who have to stand for long hours due to work or are suffering from poor blood circulation problem. Stockings are specialized hosiery designed to help prevent the occurrence of and guard against further progression of various medical disorders.
There are many factors, which indicate a positive outlook of the market for medium and long term. Growing awareness about medical benefits of compression garments such as healing effects, minimizing bruising quality, etc. are promoting the growth of this market. Additionally, advancements in the fabric technology & garment designs are making it more preferable garments among sports person, physical fitness loving people. However, some health issues such as blood clots, breathing problem, and acid reflux caused from tightly worn compression and shapewear, restrain the market growth. Product development and innovative marketing & promotion strategies are anticipated to provide lucrative business opportunities for players in the future.
On the basis of region, North America is the leading player in this market globally, due to the presence of a large number of lifestyle users and extensive popularity of athletics and other sports among people. Women generate significant revenue in the shapewear segment in North America, whereas men are prominent consumers of compression wear market. Asia-Pacific region is the highest CAGR growing market region during the forecasted period. The growth of compression garments and stocking market in this region is attributed to rising in disposable income of consumers, advancements in the fabric technology & garment designs.
The report on global compression garments and stockings market covers segments such as product type, application, and end use. On the basis of product type, the global compression garments and stockings market is categorized into compression garments and compression stockings. On the basis of application, the global compression garments and stockings market is categorized into varicose vein, wound care, burns, oncology, and others. On the basis of end use, the global compression garments and stockings market is categorized into hospitals, pharmaceuticals shops, clinics, online sales, and other healthcare facilities.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global compression garments and stockings market such as 3M Company, Medtronic PLC, Bio Compression Systems, Inc., BSN Medical, Medi GmbH & Co. Kg, Paul Hartmann AG, Smith & Nephew PLC. , Cardinal Health, Inc., Sigvaris and Sanyleg SRL.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global compression garments and stockings market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of compression garments and stockings market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the compression garments and stockings market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the compression garments and stockings market to understand the present and future trends in this market and formulate their strategies accordingly.