Diabetic Footwear Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Diabetic Footwear Market Key Highlights
The Global Diabetic Footwear Market is expected to grow from USD 6.5 Billion in 2021 to USD 15.6 Billion by 2032, at a CAGR of 8.5% during the forecast period 2022-2032.
Diabetic Footwear Market: Overview and Definition
Diabetic footwear refers to specially designed footwear that is intended to reduce the risk of foot injuries and complications in individuals with diabetes. Diabetes can cause nerve damage (neuropathy) and poor blood flow to the feet (peripheral arterial disease), which can lead to foot ulcers, infections, and even amputations. Diabetic footwear is designed to provide support and cushioning to the feet, reducing the pressure and friction that can cause injuries, blisters, and calluses. It typically features a wider and deeper toe box, a soft, seamless interior, and extra depth to accommodate custom orthotics or insoles. Diabetic footwear can include shoes, sandals, and slippers, and may be covered by insurance or Medicare for those with a qualifying medical condition. Increasing prevalence of diabetic patients across the globe is envisioned to strengthen the growth of diabetic footwear market during the forecast period. Apart from this, rising geriatric population is anticipated to foster the growth of the diabetic footwear market during the forecast period.
Diabetic Footwear Market: Growth Drivers
Rising prevalence of diabetes: The global prevalence of diabetes is increasing, with an estimated 463 million people living with the disease in 2019. This is driving demand for products and services that can help manage the complications of diabetes, including diabetic footwear.
Increasing awareness of foot complications: There is growing awareness among healthcare professionals and patients about the risk of foot complications in people with diabetes. This is leading to more proactive management of foot health and an increased demand for diabetic footwear.
Technological advancements: Manufacturers of diabetic footwear are constantly developing new technologies and materials that can improve the comfort and function of these shoes. For example, some diabetic shoes now feature specialized insoles that can help reduce pressure on the feet and prevent injuries.
Reimbursement policies: In some countries, diabetic footwear is covered by insurance or government healthcare programs, making it more accessible and affordable for people with diabetes.
Growing geriatric population: As the global population ages, the prevalence of chronic diseases like diabetes is expected to increase. This is expected to drive demand for products like diabetic footwear that can help manage the complications of these diseases.
Diabetic Footwear Market: Challenges
Lack of Awareness: Many diabetic patients and their caregivers are not aware of the importance of diabetic footwear in preventing foot complications. This can lead to a lack of demand for these products.
High Cost: Diabetic footwear is often more expensive than regular footwear due to the specialized features required to accommodate foot deformities and reduce pressure points. This can make it difficult for some patients to afford, especially if they do not have insurance coverage.
Limited Availability: There is a limited number of companies that manufacture diabetic footwear, and not all retailers stock them. This can make it difficult for patients to find the right shoes in their size and preferred style.
Poor Aesthetics: Some diabetic footwear designs can be perceived as unattractive or unfashionable, leading to resistance from patients who value style and appearance.
Fit Issues: Proper fit is crucial for diabetic footwear to provide the necessary support and protection. However, some patients may find it challenging to find a comfortable fit due to their foot deformities or other conditions.
Lack of Reimbursement: Some insurance providers may not cover the cost of diabetic footwear, making it more challenging for patients to afford them.
Compliance Issues: Some patients may not wear their diabetic footwear consistently, increasing the risk of foot complications. This may be due to discomfort, poor fit, or aesthetic concerns.
Diabetic Footwear Market: Segmentation
The research offers a comprehensive analysis of diabetic footwear market with respect to following sub-markets:
By Product Type
By Distribution Channel
- Online Store
- Offline Stores
- - - Shoe Stores
- - - Specialty Stores
- - - Others
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as;
- DARCO International
- Sigvaris Group
- Medline Industries, Inc.
- DJO Global
- Dr. Zen
- Ortho Europe
- Drew Shoe Corporation
- Hong Kong (GZ) Grace Shoes Development Co. Limited
- OrthoFeet Inc.
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in diabetic footwear market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global diabetic footwear market by the following segments:
- Product Type
- Distribution Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Diabetic Footwear Industry Report:
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?