Speaking as someone who wears compression shirts daily, and who has seen the sleeves used by an A circuit rider at my barn, the sleeves just don’t last.
The material used to create the compression effect loses its stretch with frequent use, and drying them in the dryer, even on low, actually weakens the fabric. Yes, sticking them in the dryer on low DOES make them shrink down again, but the next time you stretch it, the threads start to snap. Do this too often and you’ll lose all compression power in a short amount of time.
The issue that the rider at my barn has been having is that in order to stretch enough to fit over her gelding’s proportionately large hooves, the sleeves end up being too loose on his legs. Not so loose that they fall down off the fetlock, but they definitely don’t offer the best compression. She ended up selling them and going back to normal standing wraps.
The idea is great, and I’m sure they’re fine for some horses, but they definitely can’t beat a good old fashioned standing wrap in effectiveness!