In-depth analysis and data-driven insights on the impact of COVID-19 included in this global compression garments market report.
The global compression garments market is expected to grow at a CAGR of approximately 5% during the period 2019−2025.
Key Highlights Offered in the Report:
- The global compression garments market is expected to exhibit an absolute growth of around 33% and add incremental revenue of over $926 million through 2025.
- Compression garments designed for abdomen and torso led the market with a revenue of approximately 33% in 2019 and is expected to grow at a CAGR of over 4% through 2025.
- In the overall compression garments market, the women segment accounted for a larger share of around 56% in 2019 due to higher use of compression garments as slim wear and for post-partum, and post-op surgery recovery applications.
- The female compression garments for slim wear applications have an ASP of around $90 to $120. The high price hampers repeat purchases and holds around 10% potential of the global market.
- APAC, with a revenue share of over 23% is the third-largest market for female compression garments and is expected to grow at the highest CAGR of over 6% and add $159 million in incremental revenue during the forecast period.
- The pneumatic compression garments market is led by North America with a revenue share of over 35% and is expected to grow by a CAGR of approximately 4% through 2025.
- Due to the rise of diabetes and obesity-related ailments, liposuction procedures, sports-related applications, and leg type compression garments are expected to account for the highest revenue increment of around $76 million in North America.
- A growing awareness regarding prevalence and treatment of ailments such as lymphedema, DVT, CVD, diabetes foot, among others is underpinning the demand and adoption of compression garments for therapeutic applications.
- South Korea, India, Italy, Brazil, Mexico, Germany, Australia, and the US are presenting indications of the society increasingly becoming tangled with surgical improvements, thus presenting growth avenues for post-op and body shaping compression garments.
- The market witnessed a slowdown in H1 2020 as COVID-19 led to drop in cosmetic surgeries, sports events, closure of gyms and office, and general marketplace. This resulted in reducing the new sales of compression garments, with heavy effect on post-surgery compression garments and sports garments in H1 2020.
- The total annual cost of ownership for custom made compression garments for patients suffering from lymphedema can easily reach over $960. High prices due to the need to replace compression garments two to four times a year adds to the overall healthcare expenditures, thus leading to unwillingness and lack of wearing compliance among consumers.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by gender, type, distribution channel, application, compression delivery, and geography
- Competitive Landscape – 50 prominent vendors are profiled
Compression Garments Market – Segmentation
- The adoption of sports and pneumatic compression devices in non-hospital settings is higher among males than females. This can be attributed to the general statistical and demographical factor that a higher number of men engaged in sports and fitness, public and private services, and non-female specialty hospitals and clinics.
- The demand for compression garments among professional athletes has always been high, and the segment is one of the key drivers for the global compression garments market. Athletes and professionals in the sports and fitness segment account for recurring revenue opportunities.
- The abdomen and torso segment led the market with a revenue share of over 32% in 2019. Abdomen and torso compression garments have applications in sports, healthcare, and body slimming. One of the most common applications is in post-partum and post-aesthetic surgeries, which help enhance the body’s appearance.
Compression Garments Market by Gender
Compression Garments Market by Type
- Abdomen and Torso
- Joint Support
- Face, arms, and shoulder
Compression Garments Market by Distribution Channel
- Pharmacy and Offline Retail
- Healthcare Centers
Compression Garments Market by Compression Delivery
Compression Garments Market by Application
Compression Garments Market – Dynamics
There is a rise in the number of general and cosmetic surgery procedures worldwide, and this can be attributed to an increase in disposable incomes, accepting culture, and high traction toward improving the overall aesthetics of the body. Such surgeries are undertaken by both male and female patients, thus maintaining a steady revenue flow into the market for compression garments used for post-op and recovery. Often, compression garments tend to refer to Spanx or the commonly available thick-tan colored stockings, sold in pharmacy or healthcare centers and usually bought for joint support, recovery, and to help with varicose veins. The current compression garments though similar, can be of different types and have varied applications. High-tech compression garments were available in the market to help patients with a quicker recovery from general or plastic surgery. Cosmetic surgeries are gaining traction in almost all developed and emerging countries, and it is highly likely to witness proportional growth in demand for compression garments, which are designed to facilitate post-op healing.
Key Drivers and Trends fueling Market Growth:
- Emergence of Pneumatic and Dynamic Compression Therapy
- Stem Cell Therapy for Wound Healing and Lymphedema
- Growing Demand Among Diabetic and Obese Consumers
- Adoption in Wound Healing & Therapeutic Care
Compression Garments Market – Geography
APAC accounted for about a share of over 22% in 2019 and is characterized by high demand for low-cost elastic compression garments. Though the region witnesses the emergence of pneumatic compression garments, their growth is expected to lag behind the elastic compression garments due to the difference in their price points and availability across emerging countries of the region. According to an Arizton study, Japan, South Korea, and Australia are witnessing high adoption of compression garments primarily driven by an increasing application in sports and post-op applications. The challenge is to attract consumers for premium material and pneumatic compression garments from India, Vietnam, Indonesia, and the Philippines, where the market for high-quality recovery aiding healthcare and wellbeing products are yet to catch a steeply rising curve.
Compression Garments Market by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Macom Enterprises
- Bioflect Medical Group
- Cosmac Healthcare
- Lohmann and Rauscher
- Wear Ease
- Peninsula BioMedical
- Contemporary Design
- Medico International
- The Marena Group
- Professional Products (PPI)
- Ascent Meditech
- AIROS Medical
- Santemol Group Medikal
- Medical Z
- Julius Zorn (Juzo)
- Bio Compression Systems
- Gottfried Medical
- Spectrum Healthcare
- Aeroflow Healthcare
- AMERX Health Care
- Sun Scientific
- ACI Medical
- Tactile Medical
- Under Armour
- New Balance
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