SEATTLE, March 03, 2022 (GLOBE NEWSWIRE) -- The global diabetic footwear market is estimated to be valued at US$ 7,216.3 million in 2021, and is expected to exhibit a CAGR of 7.86% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Diabetic Footwear Market:
Diabetic footwear with unique important elements like raw material and comfort are becoming increasingly popular among diabetes patients throughout the world, as they help to lower the risk of skin damage in diabetic patients with pre-existing diet problems. During the forecast period, the global diabetic footwear market is expected to grow due to an increase in innovation and development activities by major market players to offer personalised and attractive diabetic footwear to satisfy the latest fashion trends, particularly among the female population.
Factor such as, rise in the prevalence of diabetes amongst global population across the globe is anticipated to intensify the growth of the global diabetic footwear market during the forecast period. For instance, the global incidence of diabetes among adults was diabetes among adults was 8.5% in 2014, which rose to 9.3% in 2019. In addition, growth in the ageing population estimated to positively drive the growth of the diabetic footwear (shoes) market over the forecast period. Apart from this, increasing demand of customized diabetic footwear is anticipated to be the dynamic factor behind the growth of the diabetic footwear market
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Key Market Takeaways:
The global diabetic footwear market is expected to exhibit a CAGR of 7.86% over the forecast period (2021-2028). Diabetic footwear is mostly used by the older populace. Growing concerns over the side effects associated with synthetic medicines are changing the preference for safer options. Consumers prefer diabetic footwear and other healthy remedies to reduce the impact of pre-diabetic cells. Medical upgrades and technological advancements such as personalized medicine, 3D Printing, robotic surgery, and others are expected to drive the market growth in the forthcoming years.
Specialty footwear available in inserted sole, hybrid forms, and flexible inner sole. Through this, the consumers are able to use this product for other purposes including posture improvement, relief from lower body painand also as protection from minor injuries capable of harming a diabetic person. This factor is projected to drive the product demand in the near future. Pharma outlets and specialty stores for diabetic footwear are expected to remain the key channels for customers to purchase diabetic footwear. Furthermore, urbanization and rising disposable income in emerging economies including India and China is expected to boost the spending on the establishment of new specialty outlets ensuring significant product supply along with other accessories such as insulin pen,blood sugar meter etc.
Competitive Landscape:
Major players operating in the global diabetic footwear market include Podartis S.r.l., Aetrex Worldwide Inc., Orthofeet Inc., Etonic Shoes, Drew Shoe, Dr. Comfort, DARCO International, Duna S.r.l, Hong Kong Grace Shoes, and Dr. Zen Product,Inc.
Mergers and acquisitions, strategic collaborations, new product launch, and business expansions are the key strategies adopted by key players to retain their market share. For instance, several institutes such as CSIR, University of Manchester and others are focusing on developing diabetic footwear. For instance, in October 2019, The University of Manchester and Manchester Diabetes Centre tested the effectiveness of a shoe insole system that tracks pressures and provides instant feedback, prompting users to adjust their behavior or stance to alleviate or offload the kind of pressure that can cause ulcers.
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Market Segmentation:
- Global Diabetic Footwear Market, By Product Type:
-
- Sandals
- Shoes
- Slippers
- Global Diabetic Footwear Market, Market, By Distribution Channel:
-
- Online Stores
- Supermarkets
- Hypermarkets
- Specialty Stores
- Others
- Global Diabetic Footwear Market, Market, By End User:
-
- Male
- Female
- Kids
- Global Diabetic Footwear Market, Market, By Region:
- North America
- By Country:
- U.S
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East & Africa
- By Country/Region:
- Middle East
- Africa
- By Country/Region:
- North America
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