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Diabetic Footwear Market Scope and overview Growth, Opportunities, Key Players And Forecast Outlook 2030 | Aetrex Worldwide Inc., Apex Foot Health Industries LLC

Report Ocean published the latest research report on the Diabetic Footwear market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Diabetic Footwear market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

The Diabetic Footwear Market size was US$ $$ billion in 2020. The keyword market is forecast to reach the value of US$ $$ billion by 2027 by growing at a compound annual growth rate (CAGR) of $% during the forecast period from 2021-2027.

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.

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The diabetic footwear market is mainly driven by the increasing awareness among diabetic patients about the use of diabetic footwear. Apart from the rising prevalence of diabetes, another factor which 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.

In addition, 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, the consumers suffering from diabetes have a high risk of developing foot problems which are influencing the sales volume of diabetic footwear worldwide. In addition, the increasing recommendation by a doctor to use specially designed shoes which can help reduce risk and promote healthy circulation in feet is also backup the market growth of diabetic footwear.

Diabetic Shoes 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 shoe. Also, the features such as added protection, option to wear shoes on virtually any occasion or place have also increased the demand for these shoes, which in turn boosts the growth of 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. In addition, 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.

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COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Diabetic Footwear Market also experienced a slowdown. Statista estimates that the Diabetic Footwear Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Diabetic Footwear Market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Diabetic Footwear Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

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 geriatric population along with 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. In addition, the government initiative to raise the awareness on causes of diabetes among the population has driven the growth of overall market in this region.

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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 acquisition, 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.

The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global diabetic footwear Market size & forecast. The report promises to provide state-of-the-art technology of diabetic footwear production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

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Updated : 2022-05-25 03:03 GMT+08:00