An Incisive, In-depth Analysis on the Compression Garments And Stockings Market
This study offers a comprehensive, 360 degree analysis on the Compression Garments And Stockings market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Compression Garments And Stockings market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Recording an impressive CAGR during 2017 – 2027, the Compression Garments product type segment is the most attractive in the global compression garments and stockings market
The Compression Garments product segment dominated the global compression garments and stockings market in terms of revenue in 2016, and the trend is projected to grow throughout the forecast period. Compression Garments is the most attractive segment with a market attractiveness index of 1.9 over the forecast period. The Compression Garments segment is estimated to represent a little more than US$ 2,000 Mn, or nearly 92% share of the total market in 2017 in terms of revenue, registering a CAGR of 5.1% over the forecast period. Revenue from the Compression Stockings product segment is expected to increase 1.2X between 2017 and 2027. The Compression Garments segment is estimated to create absolute $ opportunity of a little over US$ 90 Mn in 2018 over 2017.
Increasing commercial promotion and surge in online shopping are the recent trends that are contributing to the growth of the Compression Garments product segment
The prominence of compression garments is rising in exercise settings and sports because of a lot of commercial promotion. Another reason for the increasing popularity of compression garments in sports is that it is believed that the compressive properties of garments can enhance performance and aid in recovery after strenuous training. Compression garments are particularly popular among athletes and those who participate in recreational exercises. The segment has sparked media attention in swimming and in other sports such as track and field events. For instance, Nike swift suits that are head to toe provide athletes with a swimsuit with reduced drag and increased aerodynamics. This swift suit is also suitable for other sports such as speed skating and cycling.
Online shopping is not only convenient but also economical as online stores offer prices at much lower rates than the physical stores. Besides, physical stores have a limited array of products. Physical stores always make sure that they lure the customer to buy additional items along with what they actually needed. Online shopping of compression garments is a new favourable trend that is automatically driving this segment’s growth.
Military and sports are two professions where there is always an experimentation with innovative research in textiles. Exciting innovations are emerging in smart textiles and nanotechnology and the sector’s growth prospects are helped by the fact that there has been an increase in demand for performance features in mainstream fashion. For instance, Nanotechnology has a real commercial potential in the textile industry. Nanotechnology can provide high durability fabrics because nano-particles have a large surface area-to-volume ratio and high surface energy, thereby presenting better affinity for fabrics and leading to an increase in durability as a function.
Regional overview and forecast of the Compression Garments product segment
The Compression Garments segment dominated the North America compression garments and stockings market in terms of revenue in 2016. This segment is the most attractive segment in the North America regional market, with a market attractiveness index of 1.9 over the forecast period. An increasing geriatric population base and rise in sports injuries are contributing to the rise in demand for compression garments in Western Europe. Developing markets in the rest of APEJ are expected to witness increased patient affinity towards consumption of compression garments, which is likely to positively impact the Compression Garments product segment in the APEJ compression garments and stockings market. The Compression Garments segment dominated the Latin America compression garments and stockings market in terms of revenue in 2016 and this trend is projected to continue during the forecast period.
Manufacturers in the global compression garments and stockings market enter into long-term contracts with raw material providers in order to ensure quality, purity, and continuous supply of raw materials, thereby maintaining the quality of the final products. This is one of the key findings in our new report titled “Compression Garments and Stockings Market: Global Industry Analysis & Opportunity Assessment, 2017 – 2027,” which focusses on the performance of the global compression garments and stockings market over a 10 year period from 2017 to 2027. The analysts of Future Market Insights have observed that the compression garments and stockings market is highly fragmented, with the presence of several small and local market players; besides, most of the market players have a countrywide business presence. After a detailed study of the market, our analysts have noticed that strengthening the product portfolio through mergers and acquisitions is the key strategy of manufacturers in the global compression garments and stockings market. For instance, BSN Medical signed an agreement with Tokyo-based Terumo Corporation, which is one of the world's leading medical device manufacturers. Product innovation is another key approach adopted by leading market players in the global compression garments and stockings market. For example, in March 2015, Medi GmbH & Co KG received the iF DESIGN AWARD 2015 from iF International Forum Design GmbH for its Levamed stabili-tri ankle orthosis used to control the position and motion of the ankle.
One of the important factors we have observed while studying the global compression garments and stockings market is that due to the presence of extensive competition, market players are compelled to reduce prices, provide products with unique features, and create novel designs in compression garments. Further, companies are adopting a differential pricing strategy in various regions to gain larger market share. While inspecting the growth of the global compression garments and stockings market in various regions, our study has revealed that the MEA region is expected to record comparatively less growth at present; however, steadily increasing medical infrastructure has been identified as the most promising factor for future sustained growth of the MEA compression garments and stockings market.
By Distribution Channel
The primary focus of our report is a comprehensive market analysis that includes market value forecast, market size and Year-on-Year growth. Absolute $ opportunity is an important part of the market analysis and along with it, our analysts have also reviewed the compression garments and stockings price analysis by region. A well-defined market taxonomy segments the global compression garments and stockings market on the basis of product, application, distribution channel and region. In another section of the report, we take a deep dive into the key market dynamics and present our independent analysis of the various factors, challenges, and market trends that we feel will define the global compression garments and stockings market in the next few years. The subsequent sections quantify our analysis of the global compression garments and stockings market by presenting data on the market size along with key performance metrics.
We have devoted the last section of the report to study the market performance of some of the top companies operating in the global compression garments and stockings market. We have profiled a few of the leading market players and presented a detailed analysis of their overall business performance and a comprehensive evaluation of their short-term and long-term business and go-to-market strategies. This section is intended to provide report audiences with a dashboard view of the competitive landscape of the global compression garments and stockings market.
We have not considered the yearly change in the inflation rate while forecasting market numbers. We have considered the Weighted Average Selling Price (ASP) of compression garments and stockings to deduce market values. Macro-economic indicators such as healthcare industry outlook, healthcare spending, prevalence of cancer, Gross Domestic Product and others have been considered to arrive at the indicated market numbers. We have used the bottom-up approach to assess market numbers in the global compression garments and stockings market and the top-down approach to counter-validate the reached market numbers. We have done in-depth secondary research to ascertain overall market size, top industry players, top products and industry associations. Our analysts have conducted extensive interviews with industry experts, key players, distributors and retailers to get a clear scenario of the global compression garments and stockings market.
Compression Garments And Stockings Market Reports - Table of Contents
1. Executive Summary
17. Research Methodology
18. Assumptions and Acronyms Used