The latest market report published 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.
Compression clothing is a type of clothing designed to reduce recovery time following surgery, restore lost body shape, reduce edema and enhance athletic performance. Such items help to regularize the supply of blood to the muscles and tissues that enable the body to warm up and heal from stress and exercise. Compression garments are generally classified as lower and upper extremities wear, facial garments, uppers, bottoms and compression tapes. These drugs are also used for the treatment and prevention of conditions such as deep vein thrombosis, circulatory complications, sports injuries and post-operative recovery.
The growing number of sports and leisure activities and consequent accidents around the world is an important factor driving the global market for clothing compression to rise. Of the several forms for sports injuries that occur worldwide, a prominent segment occurs in the limbs and also causes vasculature damage. Treatment of the subsequent trauma and oedema includes physical therapy with compression pumps and clothes.
The manufacturers of compression apparel are constantly launching newer products on the market with different sizes, colors, compression capacities and so on. Newer developments are also being applied in the design and function of these products. The launch of new products is expected to address the complex needs of patients and consumers suffering from various types of venous diseases, accidents and those who have undergone surgery and are in need of rehabilitation. Growing numbers of strategic development moves are also expected to support the growth of this sector. Manufacturers are observed to pursue inorganic growth measures to increase their portfolio and reach out to customers. Market players also participate in acquisition activities as part of an 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