In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Compression Garments Market Report. The compression garments market by revenue is expected to grow at a CAGR of 5% during the period 2019–2025.
New York, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Compression Garments Market - Global Outlook and Forecast 2020-2025" - https://www.reportlinker.com/p05982533/?utm_source=GNW
The global compression garments market landscape is majorly driven by increased application in healthcare and sports end-users and the popularity of slimming practices among male and female consumers. The growth in per capita disposable income has increased discretionary spending, which bodes well for the manufacturers. An increase in disposable income and discretionary spending allow vendors to maintain their price points of compression garments and increase the probability of repeat purchases. The global demand for premium products influences the emergence of new production facilities in Asian countries, mainly in China, Vietnam, Thailand, Bangladesh, and India. It offers compression garments at lower prices than those in global markets.
The following factors are likely to contribute to the growth of the compression garments market during the forecast period:
• Emergence of Pneumatic and Dynamic Compression Therapy
• Stem Cell Therapy for Wound Healing and Lymphedema
• Adoption in Wound Healing & Therapeutic Care
The study considers the present scenario of the compression garments market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Compression Garments Market Segmentation
The global compression garments market research report includes a detailed segmentation of the segments gender, type, distribution channel, application, compression delivery, geography. 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. Europe leads the male segment with a revenue share of 34%, which is closely followed by North America, with a revenue share of 29%.
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 growth in the health-conscious population is prompting individuals to join fitness clubs. Therefore, the growing market for fitness clubs is expected to drive the growth of the market.
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. The legs type segment accounted for the second-highest revenue share of 28% in 2019. Leg type compression garments are expected to grow at a CAGR of over 5%. As there is an increase in the number of childbirths, especially in developing countries, there is an increasing focus on post-delivery recoveries, increasing demand for compression garments. The increased availability of high-quality compression garments is expected to increase revenue prospects for the abdomen and torso segment.
The pharmacy & offline retail compression garments segment is expected to reach over $2 billion by 2025. Europe led the market in 2019. However, APAC is expected to grow at the fastest CAGR by 2025. Pharmacy stores have a high share of post-operational, injury recovery, and therapeutic garments, whereas offline stores have a high share of slimming suits. Healthcare centers are the preferred choice for healthcare-related medical compression garments, pharmacy, and offline retail outlets to repeat purchases. Professional sportspeople, athletes, and astronauts are the major end-users of pharmacy and offline retail outlets.
The elastic segment account for the largest revenue shares in 2019. The major key reasons for the high revenue share and sale of elastic compression garments are easy availability and lower price range. Another key use of elastic compression garments, underpinning their higher adoption is injury prevention, pain management, and post-op recovery phases.
• Abdomen and Torso
• Joint Support
• Face, Arms, and Shoulder
• Pharmacy and Offline Retail
• Healthcare Centers
INSIGHTS BY GEOGRAPHY
The Europe compression garments market is expected to reach $1.1 billion during the forecast period. The demand and sales of compression garments are likely to increase on account of a large patient pool with surgeries, wounds, pregnancies, sports injuries, and the aging population’s presence along with the emergence of a large consumer base with diabetes, obesity, and lymphedema. The market in Europe is competitive and almost saturated. Declining birth and fertility rates and negligible product innovations can make the market competitive for abdominal binders and face, arm, and shoulders. However, the increasing awareness of these garments among women and the booming healthcare and general wellbeing specialty pharmacy stores are expected to drive the market. The UK, France, Germany, Italy, and Spain are the major countries for compression garments in the region.
• North America
o South Korea
• Latin America
• Middle East & Africa
o South Africa
INSIGHTS BY VENDORS
The global compression garments market is witnessing consolidation, with several vendors focusing on domestic brands’ acquisition to strengthen the product portfolio. With the help of acquisitions, vendors are also trying to reduce market competition. The emergence of independent brands with different product portfolios rather than traditional ones have garnered global players’ attention, thereby triggering acquisitions. The market is highly competitive, with most players competing to gain a greater market share. The competition has intensified with several vendors selling the same products with limited product differentiation at the regional level.
• 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
KEY QUESTIONS ANSWERED
1. What is the compression garments market size and growth rate during the forecast period?
2. What are the factors affecting the growth of the compression garments market share?
3. What is the growth of APAC compression garments market during the forecast period?
4. Who are the leading vendors in the compression garments market?
Read the full report: https://www.reportlinker.com/p05982533/?utm_source=GNW
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