Global Diabetic Footwear Market Outlook 2021

Global Diabetic Footwear Market Outlook 2021

Diabetes is a prolonged medical condition, which is caused by low levels of insulin in the body. A person suffering from diabetes is more prone to develop wounds, ulcers or lack of sensation in any part of his body, particularly in his feet. Diabetic/therapeutic shoes have evolved as a medical revolution as it aids in preventing the feet of a diabetic person from developing any injuries or wounds with the help of its unique design and therapeutic properties.

The global market of diabetic footwear is anticipated to flourish at a healthy compound annual growth rate (CAGR) of 8.27% during the forecast period i.e. 2015-2021. The global diabetic/therapeutic footwear market would majorly be driven by the rising prevalence of diabetes (in 20-79 years of age group) in the world.

Apart from rising prevalence of diabetes, rise in spending on diabetes treatment is yet another major growth driver of the diabetic footwear market. The global spending on diabetes is projected to expand from USD 936 Billion in 2015 to USD 1,128 Billion by 2021. This rise in spending would definitely help the global diabetic footwear market in the coming 8-10 years of time.

Regionally, Asia Pacific region is anticipated to witness the highest growth in the diabetic footwear market, with China being the largest market in the region followed by India during the forecast period i.e. 2015-2021. Growth in the aging population, strengthening economic condition, better GDP figures and increase in the per capita income are some of the major factors that would escalate the demand of diabetic footwear in the Asia Pacific region.

The global diabetic footwear market is segmented on the basis of demography, which depicts that women have higher tendency to purchase the diabetic footwear than men. Owing to this tendency, the female diabetic footwear (68% share in 2014), occupies the largest market of diabetic footwear across the globe. However, owing to an increase in the total number of male diabetic patients in comparison to female diabetic patients in the world, there is a greater need of male diabetic footwear in the future.

In addition to demography, the market is also segmented by inpatients and outpatients and by retail distribution. The retail distribution is further segmented into on-line and off-line retail out of which, the on-line distribution channel with 71% share is anticipated to have the largest share by 2021. The major reason behind the growth of e-commerce channels can be attributed to rising penetration of smartphones and high speed internet services like 3G and 4G in the world.

In contrast, lack of awareness regarding proper feet care in diabetic patients and lack of knowledge in terms of use of diabetic footwear is one of the major obstacles that hinder the growth of the diabetic footwear market across the globe.

DARCO International, Ortho Europe, Duna Srl, Thuasne, DJ Global, Hong Kong Grace Shoes, Dr. Zen Inc., Drew Shoe Corporation, and Podartis Srl are some of the major key players of the global diabetic footwear market.

“Rising prevalence of diabetes to thrive the global diabetic footwear market”: says ERC

The global diabetic footwear market is majorly driven by the rapidly expanding diabetic population in the world, according to our research report “Global Diabetic Footwear Market Outlook 2021”.

Regionally, the diabetic/therapeutic footwear market is segmented into North America, Latin America, Europe, Asia-Pacific, Russia, MENA and Oceanic. Among these, Asia-Pacific is anticipated to witness a significant growth and occupy the largest share of the diabetic footwear market by 2021.

The global diabetic population is projected to expand at a CAGR of 6.25% during the forecast period i.e. 2015-2021. This growth in the diabetic population is believed to fuel the demand of the diabetic footwear across the globe. In addition to this, rapid expansion of the aging population (age>65) from 602 million in 2015 to 715 million in 2020 would also bid to boost the diabetic footwear market in the coming future.

The report titled “Global Diabetic Footwear Market Outlook 2021” delivers detailed overview of the diabetic footwear market in terms of market segmentation by regions, by demography, by inpatient and outpatient and by retail distribution.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the diabetic footwear industry which includes company profiling of DARCO International, Ortho Europe, Duna Srl, DJ Global, Podartis, Thusane, Aertex Worldwide etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the global diabetic footwear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

With a view to understand the competitive landscape, the research report includes profiles of top U.S. based players but not limited to Stratasys, ExOne, 3D system etc. The profile encloses key information of the major U.S. 3D printing industry players that consists business overview, key financial, product offering and recent developments. Overall, the report provides detailed overview on the U.S. 3D printing industry that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

“Rise in government spending on diabetes treatment to propel the global diabetic footwear market”: says ERC

Driven by the increased government spending on diabetes treatment, the global diabetic footwear market is anticipated to beef up at a healthy compound annual growth rate (CAGR) of 8.27%, according to our research report “Global Diabetic Footwear Market Outlook 2021.”

Currently, the global spending on diabetes treatment is around USD 936 Billion, which is expected to increase to USD 1,128 Billion by 2040. This rise in the spending would provide better opportunities for the growth of the diabetic footwear market in the coming future.

Apart from the rising expenditure on diabetes treatment, rapid increase in obese population, that owns a greater risk of developing diabetes, would also boost the global diabetic footwear market during the covered forecast period.

The market of diabetic footwear is mainly segmented on the basis of regions, demography, inpatient and outpatient and retail distribution. The retail distribution is further subdivided into on-line and off-line distribution channels, out which the on-line retail occupies the largest share of 78% in the market. Owing to increasing penetration of smartphones and internet all around the world, the on-line retail is projected to dominate the market during 2015-2021.

For in-depth analyses, the report titled “Global Diabetic Footwear Market Outlook 2021” encompasses the growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

With the purpose of examining the current competitive landscape of the diabetic footwear market, this report covers profiling of some of the top players which include but not limited to Podartis Srl, Drew Shoe Corporation, Aetrex Worldwide, Dr. Zen Inc., Thusane, Duna Srl, DARCO International and Ortho Europe. The profiling enfolds key information of the companies which includes company overview, products and services, key financials and recent news and developments. On the whole, the report encompasses detailed overview of the global diabetic footwear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.