Novelty Factor To Define The Parameters Of Exponentiation For The Compression Socks Market

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Compression Socks Market
Report Id PMRREP13648 Category Life Science
Healthcare
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Novelty Factor To Define The Parameters Of
Exponentiation For The Compression Socks Market

• Rise in prevalence of venous disorders such as
  deep vein thrombosis and chronic venous
  insufficiency, coupled with diabetic foot ulcers,
  and has led to a surge in the demand for
  compression socks. Rising awareness about the
  efficacy of compression socks and introduction of
  new functionalities according to consumer demand
  are aid market growth.
• Increasing demand for compression socks in active
  sports and travel is also expected to create a
  positive opportunity of growth in different
  markets over the forecast period. Increase in
  investments in emerging economies for
  manufacturing compression garments and new
  product launches, along with acquisitions and
  collaborations by key players, is expected to aid
  in market expansion as well.
• The global compression socks market was valued at
  US 600 Mn in 2020, and is expected to exhibit a
  CAGR of around 5 over the forecast period (2021
  2031).

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13648
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New Product Launches - Strategy by Key Players
Key manufacturers of compression socks use the
strategy of introducing new and innovative
products according to patients needs. This
factor induces an intense competition among
market players. For instance, to increase the
value of comfort, Medi GmbH Co KG launched a
class of compression socks with extra padding
named 'Duomed Relax' in April 2019. Persistence
Market Research offers a unique perspective and
actionable insights on the compression socks
market in its latest study, presenting historical
demand assessment of 2016 - 2020 and projections
for 2021 - 2031. The research study is based on
product (standard compression socks and
graduating compression socks), application
(varicose veins, wound care, burns, oncology, and
others), and distribution channel (hospitals,
ambulatory surgical centers, clinics, online
sales, and other healthcare facilities), across
seven key regions of the world.
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