New York, Feb. 27, 2023 (GLOBE NEWSWIRE) -- As per a new industry analysis by Persistence Market Research, the global Compression Sleeves Market was valued at US$ 1.26 billion in 2021 and is projected to exhibit growth at a CAGR of 4.9% from 2023 to 2032. Demand for compression sleeves is projected to reach a market revenue of US$ 2.2 billion by 2032.
The pressure gradient created by a compression sleeve manipulates the arteries and veins to improve circulatory function by raising blood pressure in a specific place, thus increasing blood flow throughout the body. This factor has increased the use of compression sleeves to reduce muscle fatigue sprains post-workout and remove waste metabolites. Compression therapy products are available as over-the-counter medications and also as prescription products. This, together with the growing daily usage of compression sleeves for preventing leg swelling is driving market growth.
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Prescription of compression sleeves by healthcare professionals to treat various orthopaedic disorders has increased awareness about product. The comfort of compression clothing is influenced by a number of physical factors, including air permeability, heat, moisture transmission, and tactile features, in addition to pressure performance. Hence, key market players are working on improving their products by incorporating additional features for comfort.
For instance:
- Zensah, in March 2022, shared a review of its compression socks and sleeves in an ultra-running magazine as a promotional strategy.
Key Takeaways from Market Study
- Arm compression sleeves held 34.6% market value share in 2021 owing to increased usage by sportspersons and athletes.
- Use of compression sleeves for the treatment of varicose veins leads the market share in terms of application with a value of 47.7%.
- By technique, dynamic compression sleeves are leading the global market and the segment is expected to expand at a CAGR of 4.9% during the forecasted years.
- By distribution channel, retail pharmacies lead with 38% market share due to the ease of availability of compression sleeves at these outlets.
- North America accounted for a leading market share of 38.2% in 2021.
“Rising initiatives to promote products and increasing adoption of compression sleeves as a first line of treatment to treat various orthopaedic diseases are set to augment market growth,” according to a researcher of Persistence Market Research.
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Market Competition
- Tommie Copper
- 2XU, Abco Tech
- Run Forever Sports
- BeVisible Sports
- Thirty 48
- Camden Gear
- Zensah
- BodyMate
- Mojo Compression
- Tommie Copper
- Rikedom and more
To boost profitability and solidify their position in the worldwide compression therapy market, manufacturers of orthopaedic products are increasingly concentrating on growing their businesses across emerging nations. Key industry players have initiated promotional activities to introduce the design and engineering of novel materials with enhanced efficacy.
- In 2021, Medi GmbH & Co. KG, introduced fresh trending colors of blue jeans, avocado green, pearl, rose gold, and crystal and patterns for its compression garments.
- In July 2020, eSmartr partnered with Steve Aoki to launch a limited edition of smart compression sleeves that would help improve brain cognition without any therapy.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the compression sleeves market in its latest study, presenting a historical demand assessment of 2017 to 2021 and projections for 2023 to 2032.
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The research study is based on
- the product – (arm compression sleeves, bandage, leg compression sleeves and others),
- by application (varicose vein, wound care, burns, oncology and other indications),
- by technique (static and dynamic),
- by distribution channel (hospitals pharmacies, retail pharmacies, online sales and hypermarket/supermarket),
- across seven key regions of the world.
For additional insights on how the growth of the compression sleeves market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com
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Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations.
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