Compression stockings market-Competitive Landscape
Key players operating in the compression stockings market include Bio Compression System, BSN Medical, Devon Medical Products, Flow Aid medical technologies, Design Veronique, Julius Zorn GmbH, and Medtronic SIGVARIS.
Compression stockings are used for improving blood circulation and prevent from blood clotting and leg ulcer. Due to increasing in patients suffering from varicose veins, deep vein thrombosis and Diabetic disease is driving growth of compression stocking market. According to Centers for Disease Control and Prevention Report 2017, over 30.3 million people suffer from diabetes worldwide. Modern compression stockings are designed to provide accurate pressure in the leg, and they help blood to flow back towards the heart.
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Compression Stockings Market- Drivers
Increasing number of geriatric population globally, is expected to drive the compression stocking market growth. For instance, according to United Nation World Population report 2017, the global geriatric population was around 962 million, which is expected to reach around 2.1 billion by 2050.
Furthermore, increasing number of patients suffering from venous disorders are also expected to drive the market growth. For instance, according to Centers for Disease Control and Prevention(CDC) report of 2018, in the U.S., 900,000 people are affected each year by deep vein thrombosis (DVT), and around 60,000-100,000 death are reported yearly.
Compression Stockings Market-Restraints
Side effects such as broken skin, aches, pain, skin irritation, and discomfort resulting from compression stockings are major factors restraining the compression stockings market growth. Excess and unevenly distributed pressure from these stockings may break the skin, especially in older and malnourished patients, and in those with thin, brittle skin. For instance, according to a study published in National Center for Biotechnology Information (NCBI) 2014, a 76 year old patient suffering from venous ulcers experienced skin damage due to continuous usage of compression stockings.
Compression Stockings Market-Regional Analysis
On the basis of region, the compression stockings market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be dominant in the compression stockings market during the forecast period, owing to increasing cases of diseases such as venous thrombosis which require compression stockings to prevent blood clotting and improve blood flow. For instance, according to the American Heart Association 2017, around 300,000 to 6 00,000 people affected each year by venous thrombosis in U.S.
Europe is expected to witness significant growth over the forecast period, owing to increasing demand for treatment of varicose veins. For instance, according to European society report 2018, wearing compression stockings with pressure between 18 to 21 mm hg helped to reduce aches and pain resulting from varicose veins.
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Compression Stockings Market-Taxonomy
The compression stockings market is segmented on the basis of product type, compression level, distribution channel, application, and region.
By Product Type
- Thigh high
- Waist attachment
- Knee high
By Compression Level
By Distribution Channel
- Hospital pharmacy
- Retail pharmacy
- Online pharmacy
- North America
- Latin America
- Asia Pacific
- Middle East
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