The billion dollar global fitness industry is dovetailed with the emerging global healthcare industry. Both are in harmony with each other and they are growing manifold. Fitness is the buzzword of the modern society and the global citizens are extremely conscious about their physical and mental fitness. The enhanced awareness levels amongst denizens are creating a major and robust platform for Compression Garments market. The compression garments market is directly attached to the development and growth of the healthcare industry. The compression garments are extremely useful and they are tailor made to protect limbs and muscles from any possible injury. Compression garments are used by athletes globally and also by physicians to treat any kind of limb or muscular injury. A recently tabled report reveals that the sports apparel and foot ware industry is growing at an average rate of 42 percent. The global sports and fitness industry is predicted to touch 300 billion in the coming few years. This acute growth rate will surely cement the future of the compression garments industry. Compression garments are widely used by physicians for treating lymphedema. Presently more than 2, 50,000 people are suffering from this disease in U.K. The global population of the affected people is swelling every day.
Women who are undergoing treatment for breast cancer are prone to diseases like lymphedema. Presently more than 1.38 million women worldwide are a prey of breast cancer which is a prospective market for Compression garments makers.
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Compression Garments market: Drivers
The compression therapy market is growing fast. The rise of the diseases like lymphedema and overall growth of the healthcare industry massive global ageing population which is easily affected by age-related muscular problems and the steady rise of the fitness and sports industry are some of the drivers which are pulling up the potentiality of the compression garments market globally. Compression based garments are mostly used by physicians for treating some specific ailments. The compression garments provide instant relief from muscle pain and help in repairing any torn tissue. They are specifically made to protect and heal a specific set of the injured muscle. The entire manufacturing market of compression garments is concentrated in Australia and the supply of clothes and an overall positive scene of the textile market is also fuelling the growth of the compression garments market. The demand for compression garments soared as athletes are preferring them to avoid any kind of possible injury during an event. The producers are constantly innovating with the materials and revamping styles to woo more consumers. The compression garments market is extremely prosperous because of the constant modernization drive happening in the sports, fitness and healthcare sector.
Compression Garments market: Restraints
Global compression garments market is on the rise. But the production of these stylised garments is limited within the clutches of few major manufacturers and exporters who are camping in a specific corner of the world. This autonomy is not only restricting the growth of the compression garments market but it is also affecting the pricing of these medicated garments. The high pricing is a major factor which is also dipping the global growth of the compression garments market.
Compression Garments market: Key regions
Compression garments market is spread across the globe and it is spreading at a fast rate. There are several big, medium and small, scale players who are presently dominating the arena. Apart from U.S. and Australia, there are several other manufacturers and exporters of these compression garments in China and India. The Chinese and Indian products are cost effective and made of quality textile. The Indian made products and making quite a roar in the international arena and giving stiff competition to the international makers of compression garments.
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Compression Garments market: Key market players
Australia and U.S. conceive some of the best compression garments. Australian based companies like Cosmac and Device Technologies and U.S. based companies like Proxima Healthcare are swaying the international markets with their quality products and services. Though the domestic manufacturers of India and China are dominating the South-east Asian and Middle East market.