Diabetes is a medical condition caused by insulin levels in the body. Patients suffering for diabetes are more susceptible to develop wounds, ulcers or lack of sensation in the feet. Diabetic footwear has evolved as a medical revolution as it aids in preventing the feet from developing any injuries or wounds with the help of its unique and therapeutic properties.
According to the World Health Organization (WHO), in 1980, the number of people with diabetes was 108 million and reached 422 million in 2014. The proper use of diabetic footwear for various diabetic complications such as improper circulation of lower limbs and peripheral neuropathy has resulted in curing various foot ulcers and other foot and toe related problems.
The global diabetic footwear market is mainly driven by the rising prevalence of diabetes worldwide, rise in spending on diabetes treatment and growing geriatric population, who frequently suffer from diabetic conditions.
Diabetic footwear are premium priced; thus, cost factor has been a major factor restraining the growth of the diabetic footwear market. Key factors affecting prices of diabetic footwear include cost intensive marketing and distribution, high and volatile prices of key raw materials, and labor intensive production process. Thus, the consumer falling in medium and low income category stick to medicinal and alternative treatments instead of diabetic shoes.
Owing to rapid growth in the aging population coupled with improving standard of living and growth in disposable income has boosted demand for diabetic footwear in Asia Pacific in the last few years. In addition, rise in population of diabetic patients, and availability of cheaper products from domestic and local manufacturers is also contributing towards market growth.
The report titled “Global Diabetic Footwear Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025” offers strategic insights into the global diabetic footwear market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of multiple market segments based on end user, distribution channel and cross-sectional study across different geographies. The report provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global diabetic footwear market, offering market size and estimates for the period from 2015 to 2025, keeping in mind the above mentioned factors.
The availability of various products as well as the ease of purchase on various distribution channels is prompting more and more people to buy diabetic footwear. The popularity of e-commerce has increased diabetic footwear sales significantly. Furthermore, availability of extensive information on these products online is prompting more and more individuals to buy these products. Among the distribution channels, online stores accounted for more than half of the market share by revenue and is also projected to maintain its dominance over the next six years. Sales from specialty stores is also expected to expand strongly over the next six years.
Supermarkets and hyper markets are benefiting due to their lower prices and various offers. To ensure growth, manufacturers should expand their distribution channels for sales and also provide information on educative websites and social media communication about their products.
Women have higher tendency to purchase the diabetic footwear when compared to men and this trend is projected to continue further, over the forecast period of 2017 to 2025. In 2016, Women segment led the market with a 66.93% share in terms of revenue and is projected to grow at a CAGR of over 7.5% over the forecast period of 2017 to 2025. This is mainly due to higher tendency to purchase among the women when compare to men. However, due to rise in number of male diabetic patients, the demand for male diabetic footwear is projected to increase in the near future. Men segment is projected to exhibit fastest growth and is projected to grow at a CAGR of over 8.0% from 2017 to 2025 in terms of revenue.
In 2016 in terms of revenue, North America dominated the industry accounting over 33.0% of the global demand. Availability and production of new and innovative diabetic shoes is stimulating the growth of North America diabetic footwear market.
Asia Pacific is a highly attractive region. This region is expected to grow at a highest rate over the forecast period. Growing aging population, significant rise in diabetic population, strengthening economic condition and improving standard of living are some of the factors which is accelerating the demand of diabetic footwear in Asia Pacific region. Asia Pacific, dominated by China, India and Japan generated over US$ 950.0 million in 2016.
Europe is another attractive region that has been benefiting from the increasing patient base, rising awareness regarding diabetic footwear and growing inclination of consumers towards convenience and healthy products.
Latin America is projected to witness moderate growth rate over the forecast period and the region is witnessing growth owing to rise in awareness along with better GDP figures and increase in the per capita income. Middle East and Africa region is projected to witness below average growth rate over the forecast period of 2017 to 2025.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Diabetic Footwear market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Distribution Channels
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End User
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
