Diabetic Footwear Market is expected to grow at 7.8% during 2019-2025
Published Date | 2019 April 3
According to BlueWeave Consulting, the Global Diabetic Footwear Market is anticipated to worth USD 5776 million by 2018, with a CAGR of 7.8% during 2019-2025. Diabetic footwear, which is also termed as therapeutic shoes, is specially designed for diabetic patients to decrease the risk of skin breakdown in diabetics along with the co-existing foot disease.
The global diabetic footwear market is mainly driven by increasing awareness among diabetic patients about the use of diabetic footwear. Apart from the rising prevalence of diabetes, another factor that is driving the market growth is a rise in spending on diabetes treatment. Moreover, the increasing geriatric population, who often suffer from diabetic conditions, is another major factor that is augmenting the demand. However, new and innovative product designs with greater efficacy are helping manufacturers to gain consumer loyalty, which in turn driving the demand for diabetic footwear. Also, the innovative solutions across different categories with multiple benefits are expected to create a huge consumer base.
Besides, new packaging and product availability on various distribution channels at a reasonable cost with healthier formulations is another factor that will contribute towards the market growth over the forecast period. Furthermore, consumers suffering from diabetes have a high risk of developing foot problems, which are influencing the sales volume of diabetic footwear worldwide. Also, the increasing recommendation by a doctor to use specially designed shoes that can help reduce risk and promote healthy circulation in feet is backup the market growth of diabetic footwear.
Diabetic Shoe Segment Projected To Dominate the Diabetic Footwear Market over the Anticipated Period
The shoe footwear type of global Diabetic footwear is dominating the market, owing to the higher preference of shoes by both men and women. Moreover, shoes are also more preferable to office going population since formal attire includes shoes. Also, features such as added protection, option to wear shoes on virtually any occasion or place have increased the demand for these shoes, which in turn boosts the growth of the shoe segment in the global market. The other beneficial factor, such as providing maximum comfort for diabetic patients as compared to sandals and slippers, is increasing the sales volume. Furthermore, the availability of various types of diabetic care devices in the market is also supporting the increasing sales of diabetic shoes. Besides, the key players in diabetic shoes are progressively focusing on the improvement of the online shopping experience through various strategies such as targeted marketing and effective online awareness to encourage diabetic patients to purchase diabetic footwear through online platforms.
The Asia Pacific Projected As the Most Dominant Region in the Global Diabetic Footwear Market
Asia-Pacific region is likely to witness lion market share over the forecast period owing to increased spending on diabetic treatment, including diabetic footwear by the consumer in this region. Moreover, the rise in the geriatric population, along with the launch of improved diabetic footwear, is expected to propel the growth of the diabetic footwear market in North America. However, the growing awareness among diabetic patients in the US is further supporting the market growth in North America, supported by substantial investment in health and wellness. Besides, the government initiative to raise awareness of the causes of diabetes among the population has driven the growth of the overall market in this region.
Global Diabetic Footwear Market: Competitive Landscape
The key players operating in the global diabetic footwear market include Etonic Worldwide LLC, Podartis Srl., DARCO International Inc., Aetrex Worldwide Inc., Apex Foot Health Industries LLC, Dr. Comfort LLC, Advance Diabetic Solution, Dr. Zen Products, Inc., Drew Shoe Corporation, and Orthofeet Inc. Most of the key players are engaged in adopting strategies such as mergers and acquisitions, collaborations, and new product development to increase their global market share.
Recent Key Developments- Diabetic Footwear Market
Jan 2018: Mobile textile company Sensoria Health (an independent strategic partnership between Sensoria Fitness and Genesis Rehab Services) and diabetic mobility garment maker Optima Molliter are collaborating on a smart footwear product capable of measuring diabetes patients’ compliance to prescribed mechanical offloading protocols.
Browse Detailed Analysis with TOC, “Global Diabetic Footwear Market, By Product Type (Shoes, Sandals, Slippers), End User (Men, Women), Distribution Channel (Supermarkets/Hypermarket, Retail Stores, Specialty Stores, E-Commerce), By Region (North America, Europe, Asia Pacific, Middle East & Africa), Size And Forecasts, 2015 – 2025”