Diabetic Footwear Market Research, 2031
The global diabetic footwear market size was valued at $5,802.5 million in 2020, and is projected to reach $14,183.7 million by 2031, registering a CAGR of 7.9% from 2022 to 2031. Diabetic footwear is a specially designed footwear that offers protection for feet for diabetic patients and reduces the risk of skin breakdown caused by poor circulation, neuropathy, and foot deformities. The diabetic footwear comes with a variety of features such as non-binding uppers, stretchable uppers, orthotic support, extra depth design for pressure free fit, deep-toe-box, functional soles, and others. Diabetic footwear is biomechanically engineered and isoften used by athletes and regular people suffering from foot deformities caused by diabetes.
The diabetic footwear with unique important elements such as raw material and comfort are becoming increasingly popular among diabetic patients throughout the globe, as they aid to reduce the danger of skin damage in diabetic patients with pre-existing diet problems. The increase in innovation and development activities by major diabetic footwear market players to offer personalized and attractive diabetic footwear to satisfy the latest fashion trends, particularly originating from the female population is expected to drive the growth of the global diabetic footwear market during the forecast period.
According to diabetic footwear market analysis, the global diabetic footwear market is segmented on the basis of type, end user,distribution channel, and region. On the basis oftype, the market is segmented into shoes, sandals, and slippers. On the basis ofend user, it is classified into men and women. On the basis ofdistribution channel, the diabetic footwear market is divided into online platform, specialty stores, footwear stores, and others. On the basis ofregion, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The use of customized shoes to reduce discomfort and provide relief from flat foot pain is on the rise among the obese population. Furthermore, the surge in life expectancy as well as increase in awareness about the prevention of obesity-related hazards such as diabetes and cardiovascular diseases are expected to boost the diabetic footwear market demand on a large scale in the coming years.
Diabetic Footwear Market Share By Type
In 2020, the shoe footwear type dominated the market during the diabetic footwear market forecast. This was attributed to higher preference of shoes in both men and women. Shoe is also more preferable to the office going population, since a formal attire includes shoe. Features such as added protection and the option to wear shoes on virtually any occasion or place increases the demand for shoes, which boosts the growth of this segment in the market.
By Type
Sandals segment is expected to grow at highest CAGR of 8.6% during the forecast period
Diabetic Footwear Market, By End User
In 2020, the women end user segment held the majority diabetic footwear market share and is expected to hold a significant share in the global market duringthe forecast period. This is mainly due to the higher number of women diabetic patients. Rise in awareness among women about the effects of diabetes on the body, improvement in online retail penetration, and foot care among diabetic patients drive the growth of the market.
By End User
Men segment is expected to grow at highest CAGR of 8.4% during the forecast period.
Diabetic Footwear Market, By Distribution Channel
In 2020, the specialty store distribution channel segment dominated the diabetic footwear market. This is because, the specialty store is a preferred choice by the consumers and healthcare professionals as these shoes require proper fitting and expert guidance before their use, which is difficult with online platforms. The factor of immediate gratification coupled with the option of trail before purchase gives the specialty store distribution channel segment a major draw.
By Distribution Channel
Online Platform segment is expected to grow at highest CAGR of 8.4% during the forecast period.
In 2020, in terms of region, North America is expected to remain dominant and grow at a steady pace in the diabetic footwear market followed by Europe, mainly because of the spurt in diabetic cases in the UK and tremendous growth rate of diabetes in Germany. The Asia-Pacific segment is the fastest growing market mainly because of the surge in population, increase in aging population, rise in disposable income, and growth in awareness about diabetes and its impact on foot health.
By Regions
Asia-Pacific dominates the market and is expected to grow at highest CAGR of 8.7% during the forecast period.
The leading players in the diabetic footwear industry are focused on providing customized solutions to consumers as their key marketing strategies to gain a significant share in the market. Strategies such as product launch, merger, partnership, and acquisition have also helped key market players to gain a significant share in the market. Key players profiled in the report include Podartis Srl (Italy), DJO Global Inc. (U.S.), Aetrex Worldwide, Inc. (U.S.), Dr. Zen Products, Inc. (U.S.), Orthofeet Inc. (U.S.), Propet USA, Inc. (U.S.), I-Runner (U.S.), Pilgrim shoes (U.S.), Finn Comfort (U.S.), and Drew Shoes (U.S.).
Key Benefits For Stakeholders
This report provides quantitative analysis of the current diabetic footwear market trends, estimations, and dynamics from 2020 to 2031, which assist to identify the prevailing diabetic footwearmarket opportunities.
Major countries in each region have been mapped based on the revenue contribution to the global market.
- Market player positioning of the industry has been provided to provide a clear understanding of their competitive strengths.
- Porter's Five Forces analysis is used to illustrate the potential of suppliers and buyers in the industry.
- Comprehensive analysis of factors that drive and restrict the growth of diabetic footwear is provided.
- The report focuses on the regional & global market, the key players, and market segments apart from a detailed study on the divisions and application areas.
Diabetic Footwear Market Report Highlights
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Analyst Review
The diabetic footwear market is anticipated to witness robust growth in the emerging markets of Asia-Pacific along with continued growth in the established market of North America. The growth of the diabetic footwear market is attributed to the increase in number of obesity cases along with increase in life expectancy due to better healthcare facilities, which in turn increases the overall diabetic population.
North America is expected to continue to be remain dominant and grow at a steady pace in the diabetic footwear market followed by Europe mainly because of the spurt in diabetic cases in the UK and tremendous growth rate of diabetes in Germany. The Asia-Pacific segment is the fastest growing market mainly because of the larger population size, larger ageing population, increase in disposable income, increase in knowledge, and importance of diabetic footwear. There is an increase in the number of diabetic cases in the men segment. Thus, this is also expected to be the focus area for the companies operating in the market. Apart from these two end user segments, the specialty stores and online platforms are also gaining traction in the diabetic footwear market. Japan is expected to witness a strong growth in the diabetic footwear segment as it has the world’s largest aging population. Moreover, the shoes segment for diabetic footwear is expected to maintain its dominance followed by sandals during the forecast period.
Diabetic footwear is also expected to show further improvements in markets across rest of Asia-Pacific and LAMEA, which are presently in the budding stages of diabetic footwear. There is an increase in number of cases of diabetes in LAMEA and the region is expected to witness growth in the coming years. Online platform is the major focus point for these markets due to the increase in internet penetration and knowledge regarding diabetic footwear.
The global diabetic footwear market size was valued at $5,802.5 million in 2020, and is projected to reach $14,183.7 million by 2031, registering a CAGR of 7.9% from 2022 to 2031. Diabetic footwear is a specially designed footwear that offers protection for feet for diabetic patients and reduces the risk of skin breakdown caused by poor circulation, neuropathy, and foot deformities.
The CAGR of Diabetic Footwear Market is 7.9% from 2022 to 2031. The diabetic footwear comes with a variety of features such as non-binding uppers, stretchable uppers, orthotic support, extra depth design for pressure free fit, deep-toe-box, functional soles, and others.
The sample report of diabetic footwear market is available on request on the website of Allied Market Research. The similar reports are available on request on the website of allied market research.
The forecast period in the diabetic footwear market report is 2022 to 2031. The global diabetic footwear market size was valued at $5,802.5 million in 2020, and is projected to reach $14,183.7 million by 2031, registering a CAGR of 7.9% from 2022 to 2031.
Key players profiled in the report include Podartis Srl (Italy), DJO Global Inc. (U.S.), Aetrex Worldwide, Inc. (U.S.), Dr. Zen Products, Inc. (U.S.), Orthofeet Inc. (U.S.), Propet USA, Inc. (U.S.), I-Runner (U.S.), Pilgrim shoes (U.S.), Finn Comfort (U.S.), and Drew Shoes (U.S.).
On the basis of region, the market is dominated by North America, particularly the U.S., followed by Europe, where UK has the major market, while Asia-Pacific is dominated by India, with nearly 8.2% CAGR during the forecast period. In addition, LAMEA is expected to witness a steady CAGR of 7.9% during the forecast period.
The global diabetic footwear market is segmented on the basis of type, end user, distribution channel, and region. On the basis of type, the market is segmented into shoes, sandals, and slippers. On the basis of end user, it is classified into men and women. On the basis of distribution channel, the market is divided into online platform, specialty stores, footwear stores, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Region, North America will dominate the diabetic footwear market by the end of 2031. North America is expected to remain dominant and grow at a steady pace in the diabetic footwear market during the forecast period.
The impact of COVID-19 pandemic on diabetic footwear market was quite negative. The supply chain disruption caused negative impact on the market. The shutdown of manufacturing units due to lockdown restrictions also had adverse effects on the diabetic footwear market growth.
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