North America Medical Compression Socks Market Size, Share & Trends Analysis Report By Target Group (Athletes/Sports People, Travelers, Expecting/Young Moms, Sedentary Professionals), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The North America medical compression socks market size was estimated at USD 327.9 million in 2023 and is projected to grow at a CAGR of 5.07% from 2024 to 2030. The market growth is driven by the rising prevalence of chronic venous disorders, advancements in manufacturing technologies, increased awareness of treatments, and a growing aging population. The expanding online retail sector and supportive reimbursement policies also contribute to the overall market growth during the forecast period. The increasing incidence of chronic venous disorders, such as deep vein thrombosis, varicose veins, and lymphedema, within the region's population drives the demand for medical compression socks. According to the Society for Vascular Surgery, approximately 40.0% of adults in the U.S. suffer from chronic venous insufficiency.

The aging population in North America is more prone to venous disorders, leading to increased demand for medical compression socks. As per the U.S. Census Bureau, the number of Americans aged 65 and older is projected to reach 82.0 million by 2050, doubling the current population. Increasing awareness about chronic venous disorders and their treatment options led to greater acceptance of medical compression socks amongst patients and healthcare providers. Moreover, growing awareness campaigns by manufacturers and healthcare organizations promote early diagnosis and treatment, driving market growth.

In June 2024, Dr. Joshua Beckman, the vascular medicine director at UT Southwestern Medical Center in Dallas, noted that studies indicate compression socks effectively prevent blood clots in surgical patients.  Modern manufacturing technologies further improve the quality and comfort of medical compression socks. Using innovative materials and designs helps attract more consumers seeking comfortable products. The booming e-commerce industry in North America provides easy access to medical compression socks for consumers across various regions. This increases product availability and reaches a broader audience seeking non-invasive treatment options for venous disorders.

Market Concentration & Characteristics

The degree of innovation in this market is medium due to its evolution from basic garments to advanced products with enhanced functionality and comfort. Innovations, such as smart compression socks, which feature sensors for monitoring vital signs, and enabling real-time data sharing with healthcare providers, exemplify this progress. Moreover, introducing custom-fit options offers personalized solutions for unique patient needs.

Numerous corporations engage in mergers and acquisitions to enhance their position within the market. Such strategic moves expand their market knowledge, enrich their portfolio of products, and amplify their capabilities. In April 2024, Mölnlycke Health Care acquired P.G.F. Industry Solutions GmbH, maker of Granudacyn for wound care, consolidating its leadership in the global wound care market. The companies previously collaborated on products for a broad range of wounds for five years.

Regulations are crucial in the market. The FDA classifies medical compression socks as Class I medical devices, subjecting them to particular regulatory requirements aimed at ensuring the products' safety and effectiveness for their intended use. Although compliance with these regulations may be challenging for market participants, it guarantees quality for healthcare providers and patients. Successfully meeting FDA standards can significantly boost a product's credibility and acceptance in the market.

The market faces competition from alternative products like compression pumps and intermittent pneumatic compression devices. These products offer similar benefits to compression socks but are typically more expensive and less convenient for patients. Despite the availability of these alternatives, medical compression socks remain the preferred choice for many patients due to their ease of use, portability, and affordability.

The North American medical compression socks market observes significant regional expansion. The U.S. held the largest share in this market, driven by the presence of a large patient population and well-established healthcare infrastructure. Canada emerged as a key market, with a growing demand for medical compression socks influenced by an increasing aging population and a rising prevalence of venous disorders. Furthermore, Mexico is expected to grow steadily due to improving healthcare standards and increasing awareness about the benefits of medical compression socks.

Target Group Insights

The athletes/sports people segment dominated this market and accounted for a share of 33.96% in 2023. CEP and 2XU are brands that specialize in producing compression socks for athletes. These socks are designed to improve blood circulation, reduce muscle fatigue, and expedite recovery after physical activities. Both brands utilize graduated compression technology in their products and offer a variety of styles to cater to different preferences and requirements. These socks facilitate faster post-exercise recovery by lessening muscle soreness and inflammation. The popularity of these products among athletes is on the rise due to their efficacy in improving performance and recovery times.

The traveler segment is projected to grow at a significant rate over the forecast period. Extended travel by plane, train, car, or bus involves long periods of sitting, increasing risks of swelling, discomfort, and Deep Vein Thrombosis (DVT), as highlighted by vascular vein centers. Travelers prioritize compression socks that reduce these risks and withstand frequent use and washing without losing effectiveness. In addition, these socks must be easy to put on and take off, catering to the practical needs of travelers during transit.

Regional Insights

Strict regulations, high diabetes and cardiovascular disease rates, and a cultural shift towards proactive health and wellness shape the market. This, combined with an aging population and a focus on innovation showcased at events like Exintex in Mexico, underscores the market's growth and unique challenges. In addition, the economic landscape, with consumers willing to invest in health-related products, further fuels demand. Advancements in fabric technology and design make compression socks more comfortable and appealing and broaden their user base beyond medical needs to include athletes and those in professions requiring extended periods of standing. In 2024, a clinical study with 85 lymphedema patients evaluated JOBST Confidence and compared it to previously used garments. The study indicated that JOBST Confidence received higher ratings in the range of motion, moisture management, wearing comfort, and overall patient satisfaction.

U.S. Medical Compression Socks Market Trends

The U.S. medical compression socks market held the largest share in the North American region in 2023 and is expected to grow rapidly over the forecast period. An increasing aging population and a rising prevalence of chronic diseases, such as diabetes and obesity, drive the market growth.

Increasing awareness of the health benefits of compression therapy, technological advancements in materials and designs, and rising demand for customized products contribute to this growth. The growing adoption of telemedicine and e-commerce platforms facilitates access to medical compression socks. A key statistic from a clinical study stated that nearly 80.0% of patients using knee-high medical compression socks experienced reduced leg swelling, and over 70.0% experienced lesser pain and discomfort over six months, highlighting the effectiveness and growing demand for compression therapy products.

Canada Medical Compression Socks Market Trends

The medical compression socks market in Canada is witnessing steady growth, attributed to the country’s aging population and high prevalence of venous diseases. Over 17.0% of Canadians suffer from chronic venous insufficiency, creating a significant demand for medical compression socks. Moreover, the Canadian government’s increased focus on healthcare funding and initiatives to promote preventive care has positively impacted the market. Market growth is also driven by the rising popularity of compression therapy for performance enhancement and recovery among athletes.

Mexico Medical Compression Socks Market Trends

In Mexico, the medical compression socks market is primarily driven by an increasing elderly population and a growing prevalence of obesity and diabetes. According to the International Diabetes Federation, in 2021, the estimated number of individuals aged 20-79 living with diabetes in Mexico was approximately 14,123.2 thousand. This leads to complications such as venous ulcers requiring compression therapy. In addition, the expanding e-commerce sector and rising health and wellness awareness have contributed to market growth.

Key North America Medical Compression Socks Company Insights

Some of the key market players operating in the North America medical compression socks market include SIGVARIS GROUP, Medi, and Mölnlycke Health Care AB. They capitalize on strategies, such as innovation, extensive product ranges, and strong brand recognition. Emerging players carve out their niche by focusing on unique products or direct-to-consumer sales via digital platforms. Moreover, strategic partnerships and collaborations with healthcare professionals and institutions are increasingly leveraged to gain market trust and augment product visibility.

Recent Developments

• In April 2024, SIGVARIS GROUP celebrated its anniversary, promising continued commitment to customer well-being and innovation. The company, which has been evolving since 1961 with the development of the first medical compression stocking, highlights its long-standing dedication to improving venous disorder treatments.

• In October 2023, Sigvaris Group Britain became a British Healthcare Trades Association (BHTA) member. The company is involved in medical compression therapy and offers an extensive range of innovative products for various needs and indications.

• In January 2021, Thuasne bolstered its position in the medical device sector by acquiring Knit-Rite, a U.S.-based specialist in medical textiles. This acquisition enhanced its portfolio with innovative, patented compression therapies known for treating venous disease and lymphedema.

North America Medical Compression Socks Market Report Scope

North America Medical Compression Socks Market Report Segmentation

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the North America medical compression socks market report based on target group and region:

• Target Group Outlook (Revenue, USD Million, 2018 - 2030)

  • Athletes/Sports People

  • Travelers

  • Expecting/Young Moms

  • Sedentary Professionals

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico