Global North America Compression Garments and Stockings Market is projected to reach the value of USD 1.77 billion by 2030

According to the report published by Virtue Market Research in North America Compression Garments and Stockings Market was valued at USD 1.45 billion and is projected to reach a market size of USD 1.77 billion by the end of 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 2.51%.

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One of the most significant long-term drivers of the Compression Garments and Stockings market in North America is the aging population. As the population ages, the incidence of medical conditions such as venous disorders, lymphedema, and chronic edema increases. These conditions often require the use of compression garments and stockings as an effective therapeutic solution. The growing prevalence of these health issues has led to a sustained demand for compression products.

In addition to the long-term market driver, the COVID-19 pandemic has had a notable impact on the industry. During the pandemic, there was a surge in demand for personal protective equipment (PPE), including compression garments, as healthcare professionals needed specialized clothing for safety and comfort. Moreover, patients recovering from COVID-19 often require compression garments to manage post-recovery symptoms, further boosting the market. While the pandemic posed challenges, it also created opportunities for the compression garments and stockings market to diversify its
product applications.

In the short term, a key driver for the North America Compression Garments and Stockings market is the rise in sports and fitness activities. Athletes and fitness enthusiasts often use compression garments to improve performance and reduce the risk of injuries. This trend has gained momentum due to increasing awareness of the benefits of compression wear among sports professionals and amateurs alike. As a result, there is a growing demand for compression sportswear, which is expected to fuel market growth in the near future.

An exciting opportunity in the Compression Garments and Stockings market is the expanding e-commerce presence. With the growth of online retail, manufacturers and retailers can now reach a wider audience and offer a broader range of products. This has created opportunities for companies to expand their customer base and improve accessibility for consumers looking for compression garments. The convenience of online shopping and the ability to access a variety of products with different compression levels and styles make e-commerce an attractive avenue for growth in the industry.

A notable trend in the industry is the increasing focus on sustainable and eco-friendly materials. Many consumers are becoming more environmentally conscious, and this trend has extended to their choices in compression garments and stockings. Manufacturers are increasingly exploring sustainable materials and production processes to reduce their environmental footprint. This trend not only aligns with growing consumer preferences but also contributes to a positive brand image for companies that prioritize sustainability.

Market Segmentation:
By Product Type: Compression Garments and Compression Stockings
Among these, Compression Garments stand as the largest subsegment. These garments are designed to provide controlled pressure to various parts of the body, aiding in the management of various medical conditions and enhancing athletic performance. However, during the forecast period, the fastest-growing subsegment is Compression Stockings. Compression stockings are becoming increasingly popular for their effectiveness in improving blood circulation, especially for individuals with venous issues.
By Application: Varicose Veins, Burns, Oncology, Wound Care, and Others
The largest subsegment in this category is Varicose Veins. Varicose veins are a common condition, and compression garments and stockings are often recommended for their management. On the other hand, the fastest-growing subsegment is Wound Care. These specialized compression products play a crucial role in wound healing, providing support and pressure control for improved recovery, making them a vital component of the market's growth.

By Distribution Channel: Hospitals & Clinics, Ambulatory Surgical Centers, Online Sales, and Others
Hospitals & Clinics dominate this segment as the largest subsegment. Healthcare professionals in these settings frequently prescribe compression garments and stockings for patients with a wide range of medical conditions. Meanwhile, Online Sales is the fastest-growing subsegment during the forecast period. The convenience and accessibility of online platforms have made it increasingly popular for consumers to purchase these products, especially when seeking compression garments for sports or fitness purposes.
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Regional/Country Analysis:
Among these, the United States (US) claims the position of the largest subsegment. The US boasts a well-developed healthcare infrastructure, a high prevalence of conditions that require compression garments and stockings, and a growing demand for sports-related compression wear. On the other hand, the fastest-growing region during the forecast period is Canada. As the awareness of the benefits of compression products continues to spread, the Canadian market is expected to experience rapid growth.

Latest Industry Developments:
• Digital Marketing and E-commerce Expansion: Companies in the North America Compression Garments and Stockings Market are increasingly investing in digital marketing and expanding their online presence. This trend has gained momentum in response to the growing popularity of online shopping and the impact of the COVID-19 pandemic. Focusing on e-commerce platforms allows companies to reach a broader customer base and provide a convenient shopping experience. They utilize social media, online advertising, and user-friendly websites to promote their products and educate consumers about the benefits of compression wear.
• Product Innovation and Sustainability: A prominent strategy among market players is a strong emphasis on product innovation and sustainability. Recent developments have seen companies introducing eco-friendly materials and manufacturing processes for their compression products. This trend aligns with the increasing demand for sustainable and environmentally conscious consumer choices. Additionally, companies are continuously researching and developing new materials and designs to improve the comfort, effectiveness, and versatility of their compression garments and stockings, thereby enhancing their market appeal.

• Collaboration with Healthcare Professionals and Partnerships: Another notable trend involves forging partnerships and collaborations with healthcare professionals and institutions. Companies recognize the importance of building trust and credibility in the medical community. By working closely with healthcare providers and institutions, they gain access to valuable insights and recommendations, leading to increased adoption of their products among patients. Such collaborations can result in the development of specialized compression products tailored to the specific needs of patients, enhancing the market share and reputation of these companies.

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