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.
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.
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 Market-Taxonomy
The compression stockings market is segmented on the basis of product type, compression level, distribution channel, application, and region.
By Product Type
By Compression Level
By Distribution Channel
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.