The Compression Socks Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Compression Socks Market: Drivers and Challenges
The overall cost of diagnosis of diabetes remains as high as $245 billion in the U.S. in 2012. Diabetes remains one of the foremost accelerating factors for compression socks market growth. A diabetic patient is at higher risk of developing venous insufficiency, peripheral edema, and DVT. Therefore, wearing compression socks delivers desired pressure at the foot and less pressure at the calves maintaining proper blood circulation. This prevents swelling and improves any nerve sensitivities. Furthermore, compression socks are cheaper and much simpler than alternative treatment therapies and hence remain the most popular choice of the patients with DVT and other prophylaxis. Additionally, increasing use of compression socks among athletes with the prime focus on improving the venous return by applying graduated compression around the calves is expected to drive the market for compression socks over the forecast period.
Presently, some manufacturers are focusing on providing custom fit compression socks according to the patients need. This is expected to reflect positive growth in the global compression socks market. Such compression socks are available in various sizes and are highly used due to extended comfort and ease of use. The market for compression socks may witness declining revenues owing to use of poorly fitted socks. Thigh length fitted socks, incorrect shape and size can lead to increased risk of thrombosis. Also, inadequate reimbursement options available for compression socks is further expected to hamper the market growth.
Compression Socks Market: Key Players
Some of the major players operating in the global compression socks market are FLA Orthopedics, Inc., Sigvaris, Juzo, 2XU Pty. Ltd. JOBST USA, Prime Compression, Bio Compression Systems, Inc., and COMFORT PLUS CORPORATION. Companies are involved in collaboration agreements for R&D to exploit maximum potential.
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Compression Socks Market: Regional Overview
By regional presence, global compression socks market is segmented into five key regions viz. North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America will continue to dominate the global compression socks market attributed to growing number of diabetic patients and rising awareness among patients and physicians regarding the efficacy of compression socks therapy in the treatment of edema and venous insufficiency. 20-30mmHg is the most prescribed compression level among patients with venous insufficiency. This compression level range is also used among patients with venous thrombosis during extended travel. Growing obesity rates and increasing prevalence of diabetes, result in venous and diabetic ulcers leading to greater penetration of use of compression therapy in the region. Rising awareness among growing number of an individual regarding the DVT coupled with rising aging population is creating more demand for compression hosiery in European countries. Asia Pacific is expected to be the fastest growing region in global compression socks market.
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