The global diabetic footwear market is projected to grow, witnessing a CAGR of 6.84% during the forecast period (2020-2025).
- Globally, the diabetic footwear market is witnessing a significant growth rate, owing to increasing awareness among diabetic patients about the use of diabetic footwear. According to the World Health Organization, around 27% of diabetics at risk are exposed to the peripheral neuropathies and more than 50% of those have injuries in the legs; even confiscation that effects convening a high mortality rate across the world.
- Customized and specially designed diabetic shoes with specific key features, such as comfort and raw material, are becoming popular among the diabetic patients across the world as it helps in minimizing the risk of skin breakdown in diabetic patients with pre-existing food disease.
- Increasing innovation activities by key players to develop customized and fashionable diabetic footwear to meet up with the recent fashion trend, primarily coming from the woman population is playing an important role in the growth of the market.
Key Market Trends
Diabetic Shoes to Continue Dominating the Diabetic Footwear Market
The diabetic footwear market is led by the diabetic shoe segment as diabetic shoes provide maximum comfort for diabetic patients compared to sandals and slippers. The availability of the various types of diabetic care goods in the market is also supporting the increasing sales of diabetic shoes. Major players in diabetic shoes are progressively focusing on improvement of the online shopping experience through various strategies, such as targeted marketing and effective online education, to encourage diabetic patients to purchase diabetic footwear through online platforms. The presence of an effective online platform by key players and rising internet penetration is encouraging consumers to buy diabetic shoes online, along with other diabetic products. Furthermore, increasing recommendation by the doctor to use specially designed shoes that can help reduce risk and promote healthy circulation in feet is also supporting the market growth of diabetic footwear. Increasing innovation activities by key players to develop customized and fashionable diabetic footwear to meet up with the recent fashion trend, primarily coming from the woman population is playing an important role in the growth of the market.
North America and Europe Leading the Market, Asia-Pacific Potential to Grow Fastest
In 2019, 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 United Kingdom and the tremendous growth rate of diabetes in Germany. Moreover, the Asia-Pacific region is likely to witness significant market share over the forecast period due to increased spending on diabetic treatment, including diabetic footwear, in the region. Many key players are investing in the Asia-Pacific region as the dominance of type 2 diabetes shows a wide range across adult populations from approximately 2% in the Peoples’ Republic of China. A similar rise in the geriatric population, along with the launch of improved diabetic footwear is expected to boost the growth of the diabetic footwear market in the rest of the regions as well. Growing awareness among diabetic patients in the United States (as per American Diabetes Association ) is further supporting the market growth in North America, supported by substantial investment in health and wellness.
The leading players in the diabetic footwear market have focused on providing customized solutions to consumers as their key strategies to gain a significant share in the market. Strategies, such as product launch and acquisition, have also helped the key players to gain a significant share in the global diabetic footwear market. The key players engaged in the manufacturing of diabetic footwear across the world are Podartis Srl, DJO Global Inc., Aetrex Worldwide, Inc., Dr. Zen Products, Inc., Orthofeet Inc., Propet USA, Inc., Finn Comfort, Drew Shoes, and others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support