Compression Garments Market are expected to grow at a 5.0% CAGR | Says FMI Analyst

In 2022, the global Compression Garments Market is anticipated to be worth US$ 1,906.58 million. Factors such as changing lifestyles, greater use of compression clothing among the geriatric population, and advancements in garment design and fabric technology all contribute to the growth of this market.

Between 2022 and 2032, overall demand for compression garments is expected to expand at a CAGR of 5.0%, reaching roughly 3,105.62 million.

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The compression garments market is directly attached to the development and growth of the healthcare industry. The compression garments are extremely useful and they are tailor made to protect limbs and muscles from any possible injury. Compression garments are used by athletes globally and also by physicians to treat any kind of limb or muscular injury.

A recently tabled report reveals that the sports apparel and foot ware industry is growing at an average rate of 42 percent. The global sports and fitness industry is predicted to touch 300 billion in the coming few years.

Women who are undergoing treatment for breast cancer are prone to diseases like lymphedema. Presently more than 1.38 million women worldwide are a prey of breast cancer which is a prospective market for Compression garments makers.

Compression Garments market: Drivers

The compression therapy market is growing fast. The rise of the diseases like lymphedema and overall growth of the healthcare industry massive global ageing population which is easily affected by age-related muscular problems and the steady rise of the fitness and sports industry are some of the drivers which are pulling up the potentiality of the compression garments market globally.

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Compression based garments are mostly used by physicians for treating some specific ailments. The compression garments provide instant relief from muscle pain and help in repairing any torn tissue. They are specifically made to protect and heal a specific set of the injured muscle. The entire manufacturing market of compression garments is concentrated in Australia and the supply of clothes and an overall positive scene of the textile market is also fuelling the growth of the compression garments market.

The demand for compression garments soared as athletes are preferring them to avoid any kind of possible injury during an event. The producers are constantly innovating with the materials and revamping styles to woo more consumers. The compression garments market is extremely prosperous because of the constant modernization drive happening in the sports, fitness and healthcare sector.

Compression Garments market: Restraints

Global compression garments market is on the rise. But the production of these stylised garments is limited within the clutches of few major manufacturers and exporters who are camping in a specific corner of the world.

This autonomy is not only restricting the growth of the compression garments market but it is also affecting the pricing of these medicated garments. The high pricing is a major factor which is also dipping the global growth of the compression garments market.

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Compression Garments market: Key regions

Compression garments market is spread across the globe and it is spreading at a fast rate. There are several big, medium and small, scale players who are presently dominating the arena. Apart from U.S. and Australia, there are several other manufacturers and exporters of these compression garments in China and India.

The Chinese and Indian products are cost effective and made of quality textile. The Indian made products and making quite a roar in the international arena and giving stiff competition to the international makers of compression garments.

Compression Garments market: Key market players

Australia and U.S. conceive some of the best compression garments. Australian based companies like Cosmac and Device Technologies and U.S. based companies like Proxima Healthcare are swaying the international markets with their quality products and services. Though the domestic manufacturers of India and China are dominating the South-east Asian and Middle East market.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types and applications.

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The 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.

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• https://forecastanalysis.blogspot.com/2022/12/medical-protective-equipment-market-is.html
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