Kenneth Research has evaluated the current market opportunities in Diabetic Footwear Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Diabetic Footwear Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Diabetic Footwear Market is estimated to reach $9.4 Billion by 2024 with CAGR of 7.4% between 2016 and 2024. Diabetic foot wears are designed for people suffering from diabetes, in order to reduce the risk of foot ulceration and amputation. Foot ulceration and debilitating complications affects the diabetic patients and the long-term consequence can be amputation. As per a report published by NCBI, 171 million people were estimated to be affected by diabetes in 2000 worldwide, and are expected to increase to 366 million by 2030. People suffering from diabetes have been recommended to wear insoles accommodated within foot wear which reduces the stress on mechanical tissue on the plantar surface of the foot to prevent foot ulceration. Increased demand for these shoes owing to the increasing number of diabetic patients have led to the development of diabetic shoes in various shapes and sizes and for all the age groups.
The factors boosting the growth of the market include increasing prevalence of diabetes, increasing awareness, growing demand for customized and fashionable footwears and increasing disposable income. Though, counterfeit or low standard shoes and high cost of diabetic footwear might hinder the adoption globally. Furthermore, low barriers to entry and market expansion is expected to provide growth opportunities in coming years.
The global diabetic footwear market is bifurcated as distribution channel, end-use and geography. By distribution channel, it is further segmented into shoe stores, departmental stores, specialty stores, online stores, and super market & hyper market. Furthermore, end-use is segmented into women and men.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, Japan, India and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players of diabetic footwear market include Dr Comfort, LLC., Orthofeet Inc., Dr Zen Products, Inc., DARCO International, Inc., Podartis S.r.l., Apex Foot Health Industries LLC, Advanced Diabetic Solutions, Aetrex Worldwide Inc., Drew Shoe Corporation and Etonic Worldwide LLC among others.
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The key takeaways from the report:
The report will provide detailed analysis of Diabetic Footwear Market with respect to major segments such as distribution channel, end-use type and geography of the market. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities.
An exhaustive regional analysis of Diabetic Footwear market.
Profile of key players of the Diabetic Footwear market, which include key financials, product & services and new developments.
Scope of Diabetic Footwear Market:
Distribution Channel Segments
Super Market & Hyper Market
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