Selbyville, Delaware According to a research report titled ‘Global Compression Garments Market a?? Analysis By Product Type, By End User, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global compression garments market was worth USD 2429.66 million in the year 2019 and is expected to register significant growth over the forecast period 2020-2025.
As per the report findings, surging geriatric population base and rising efforts by manufacturers to incorporate latest textile technology while providing better quality, customized products with respect to size, shape, color, design, and compression level are the primary factors responsible for the growth of global compression garments market.
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Furthermore, mounting consumer demand for customized compression garments is also expected to propel the overall industry remuneration in the upcoming years.
Based on product type, the industry is classified into upper and lower compression garments. Among these, lower compression garments segment is slated to capture the largest market share due to pervasiveness of conditions such as varicose veins, socks and stockings edema, deep vein thrombosis (DVT), and lymphedema, among others, as well as presence of leading companies focused on expansion of product portfolios to meet customer demand.
Moving on to end-user spectrum, global compression garments market is arrayed into hospitals, ambulatory surgical centers, clinics, and others. Clinics, others, and ambulatory surgical centers segments respectively held major market shares, primarily due to rising prevalence of cosmetic surgeries, increasing incidence of breast cancer, and growing collaborations among manufacturers and clinics, doctors, & hospitals in order to cater to consumer requirements.
On the regional front, North America, Europe, and Asia Pacific are expected to account for major market shares in the ensuing years. This can be ascribed to rising awareness among athletes about the benefits of using compression garments, and availability of leading manufacturers in the region.
Prominent players in global compression garments market sphere are Sigvaris Group, Julius Zorn GmbH, Marena Group LLC, Nouvelle Inc., Therafirm, Design Veronique, Medico International Inc., Medi GmbH & Co. KG, Medtronic plc, and 3M Company.
Questions and Answers:
Q1: What are the major growth driving factors in global compression garments market?
A1: Surging geriatric population base, and rising efforts by manufacturers to incorporate latest textile technology while providing better quality, customized products with respect to size, shape, color, design, and compression level are the primary factors responsible for worldwide compression garments market growth.
Q2: Why is global compression garments market value from lower compression garments product segment growing at a strong pace?
A2: Pervasiveness of conditions such as varicose veins, socks & stockings edema, deep vein thrombosis (DVT), and lymphedema, among others, and presence of various companies focused on expanding their product portfolios are enhancing segmental sales, thus boosting the overall industry valuation.
Q3: Which companies formulate the competitive landscape of global compression garments market?
A3: Prominent players in the industry are Sigvaris Group, Julius Zorn GmbH, Marena Group LLC, Nouvelle Inc., Therafirm, Design Veronique, Medico International Inc., Medi GmbH & Co. KG, Medtronic plc, and 3M Company.
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