Need more information about Report Methodology? Click here- https://www.factmr.com/connectus/sample?flag=RM&rep_id=3519
Competitive Landscape
The market for compression socks is largely consolidated, with top players accounting for more than 60% of the market share. Despite fewer top competitors in the compression socks market, competition among top-tier players has been high.
Companies are focusing on new product introduction and product differentiation to maintain a foothold in the market. Sigvaris Group is the top player accounting for a majority share in the market for compression socks. Juzo, Inc., Essity Aktiebolag (publ), and Medtronic Plc. are mid-tier competitors in the compression socks industry. Notable developments in the industry are as follows:
- In January 2021, Thuasne SAS, a prominent medical devices manufacturer in Europe, acquired Knit-Rite Inc. and its division Therafirm which is dedicated to providing compression products, including compression socks
- In 2020, Hatch announced the launch of Hatch Compression Sock, and the Swell Relief Duo to help mommas-to-be soothe swollen feet and ankles in order to stay on toes all day long.
Key Takeaways of the Compression Socks Market
- North America is a matured market for compression socks. However, North America is expected to account for an absolute $ opportunity of more than US$ 100 Mn owing to higher market share during forecast period.
- According to Fact.MR, compression socks market in East Asia is expected to grow 2X by 2029 from 2019. The growth is expected to see a steady increase.
- Deep vein thrombosis and chronic venous disorder applications account for more than 60% of market share, with significant growth expected over mid-term forecast.
- Fact.MR says that demand for graduated compression socks exceeds standard compression socks in terms of value in global compression socks market, and is expected to witness an absolute $ opportunity of more than US$ 300 Mn during forecast period.
- Hospital pharmacies are the fastest growing sales channel in compression socks market and are expected to grow by more than 1.9X during forecast period.
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/3519
Top Competitors in Compression Socks Market are focused on Geographical Expansion to Increase Market Share
Compression socks market can be construed as partially fragmented. Top players in compression socks market account for more than 60% share in the market. Juzo, Inc., Essity Aktiebolag (publ) and Medtronic Plc. are the largest competitors in compression socks industry. These competitors have been seen to be moving to East Asia to gain a foothold. New players in compression socks market on the other hand are focused on mature markets to gain short term returns. Sustaining the demand in mature economies like United States has been one of the impeding factors for these new players. In comparison with top tier players, new and emerging players in compression socks are expected to have higher growth potential during short term forecast.
About US
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Email: sales@factmr.com
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
