Novelty Factor Define Parameters Of Exponentiation For Compression Socks MarketPosted by Merin John on June 25th, 2021 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). Get Sample Copy of this Report @ https://www.persistencemarketresearch.com/samples/13648 Company Profiles:
Key Takeaways from Market Study
“Compression garments are witnessing growth in emerging economies due to online advertisements and new product functionalities. Niche areas such as sports activities and oncology pose a promising opportunity for manufacturers,” says an analyst of Persistence Market Research. 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. What Does the Report Cover? 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. Like it? Share it!More by this author |