The global Compression Socks Market is witnessing significant growth, driven by increasing awareness of their benefits in treating various health conditions. In 2023, the market is valued at US$ 690.72 million, and projections indicate a steady CAGR of 4.7%, reaching an estimated US$ 1.09 billion by 2033.
Rising Demand for Compression Socks
The demand for compression socks is growing due to their effectiveness in managing hypertension, reducing leg and foot swelling, and preventing venous reflux. These specialized socks have gained immense popularity in orthopedic treatments, where they play a crucial role in reducing swelling, alleviating discomfort, and expediting functional recovery following surgeries.
In the United States, sales of compression socks are expected to climb at a 4.5% CAGR, reaching US$ 342.23 million by 2033. The market for graduated compression stockings is also expected to surge at a 4.9% CAGR, reaching US$ 646.2 million by the end of the forecast period. In South Korea, the market is set to expand at a 2% CAGR, with an anticipated valuation of US$ 29.52 million by 2033.
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Impact of Obesity on Compression Sock Demand
Obesity is a significant factor driving the demand for compression socks. Excessive body weight increases the pressure on internal organs and blood vessels, leading to a higher risk of vascular disorders and venous thrombosis. Studies indicate that overweight individuals have a 30% higher risk of venous thromboembolism (VTE), while the risk increases to 60% for obese individuals. Consequently, the increasing obesity rates worldwide are fueling the demand for compression socks as a preventive measure against vascular conditions.
Sedentary Lifestyles and Deep Vein Thrombosis (DVT)
The prevalence of sedentary lifestyles is contributing to the rising cases of deep vein thrombosis (DVT). According to the Centers for Disease Control and Prevention (CDC), a sedentary lifestyle is responsible for nearly 2 million deaths annually. With the increasing incidence of DVT and related conditions, the adoption of compression socks is on the rise as a preventive and therapeutic solution.
Growing Use of Compression Socks Among Athletes
Compression socks are not only utilized for medical purposes but are also widely embraced by athletes and sports enthusiasts. Studies reveal that these socks contribute to improved muscle recovery, prevention of injuries, and reduction of delayed-onset muscle soreness (DOMS). While seasoned professionals may experience limited benefits, beginners and amateur athletes report noticeable improvements in muscle performance and recovery.
Factors Influencing Compression Sock Sales
Rising Incidence of Deep Vein Thrombosis: Patients undergoing anticoagulant therapy are at risk of increased bleeding, prompting them to seek alternative solutions such as compression socks. With 10 million cases of venous thromboembolism occurring annually, demand for compression socks is expected to rise.
Prevalence of Venous Disorders in the Elderly: The aging population is another key factor driving market growth. According to the United Nations Organization (UNO), the global geriatric population is projected to reach 2.1 billion by 2050. Additionally, studies show that 10% to 20% of men and 25% to 40% of women suffer from venous disorders, further bolstering the demand for compression socks.
Challenges Hindering Market Growth
Lack of Standardization in Compression Socks Manufacturing: A major challenge facing the compression socks market is the lack of standardized regulations. Variations in sizes, compression levels, and materials across different brands affect consumer trust and product reliability.
Potential Side Effects of Compression Socks: Some individuals experience skin irritations, corns, calluses, and discomfort due to poorly fitted compression socks or allergic reactions to the material. Additionally, improper use can lead to reduced oxygen levels in the blood and exacerbation of circulatory issues.
Market Trends and Regional Insights
United States: The U.S. market is poised for growth, driven by increasing cases of DVT and obesity-related vascular conditions. By 2033, sales are forecasted to reach US$ 342.23 million, growing at a 4.5% CAGR.
United Kingdom: The UK government is investing heavily in healthcare innovations, boosting the demand for compression socks. The market is set to expand at a 3.5% CAGR, reaching US$ 53.57 million by 2033.
Japan: Japan’s compression socks market is expected to grow at a 4.5% CAGR, reaching US$ 55.76 million by 2033. High demand stems from their effectiveness in minimizing foot fatigue and enhancing blood circulation.
Dominance of Graduated Compression Socks
Graduated compression socks hold a significant share of the market due to their effectiveness in treating edema and chronic venous diseases. These stockings apply firm compression at the ankles, which gradually reduces up the leg, ensuring optimal blood flow. Designed specifically for ambulatory patients, they are manufactured under stringent medical guidelines to ensure consistent efficacy.
Role of Compression Socks in Deep Vein Thrombosis Prevention
Compression socks are extensively used to prevent deep vein thrombosis (DVT). By applying targeted pressure, they facilitate adequate blood circulation, reduce swelling, and alleviate discomfort. This therapeutic approach is particularly beneficial for individuals at high risk of developing DVT, such as post-surgical patients and those with limited mobility.
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Competitive Landscape
The compression socks market is highly competitive, with key players focusing on product innovation, supply chain optimization, and market expansion. Major industry players include:
- Juzo Inc.
- SIGVARIS Group
- Medtronic Plc.
- Essity Aktiebolag
- 3M Company
- Sanyleg S.R.L.
- Santemol Group Medikal
- Medi GmbH & Co. KG
- Thuasne SAS
Key Developments in the Market
- In January 2021, Thuasne SAS acquired Knit-Rite Inc., including its Therafirm division, strengthening its portfolio of compression socks and medical-grade compression garments.
- In 2020, Hatch launched its Hatch Compression Sock, introducing an innovative design aimed at improving comfort and support for everyday users.
Future Outlook
The compression socks market is on a steady growth trajectory, fueled by rising awareness, increasing prevalence of vascular disorders, and expanding applications in sports and healthcare. While challenges such as standardization issues and potential side effects persist, advancements in product innovation and research & development are expected to drive market expansion.
With the continued emphasis on preventive healthcare and lifestyle improvements, the demand for compression socks is poised to witness sustained growth in the coming decade.
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