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Diabetic patients are commonly suffering from various serious problems such as foot ulcers, infections, amputation, etc. Hence, diabetic shoes are widely used to avoid such foot problems. Rising awareness regarding the availability of medical footwear products is primarily driving the growth of the market. Shoes made up of leather and canvas are widely popular as they prevent the wearing and spreading of the foot skin and protect the foot from swelling and severe pain.
Consumers are highly concerned about their foot health, and therefore they prefer to check the softness and stretchability of the shoes and insoles while purchasing such shoe products. Additionally, they are buying shoes under the medical prescription of their doctors to avoid the various foot-related problems such as foot cuts, swelling, tearing of foot nails, etc. Diabetic shoes essentially improve the blood circulation in the foot area, which thereby fuels its demand among diabetic patients.
Rising prevalence of diabetes diseases is expected to drive the demand for diabetic shoes across the globe. According to the data published by the International Diabetes Federation, as of 2019, 463 million of the global adult population are suffering from diabetic diseases, and the number is expected to increase to 700 million by 2045. Additionally, rising demand for athletic diabetic shoes among diabetic patients is further driving the market growth.
Growing infrastructural facilities related to the distribution stores and specialty shoe shops is likely to support the long-term growth of the market. The unhealthy & busy lifestyle of the global population is further favoring the demand for the various medical footwears. Besides this, the growing number of aged people across the world is likely to upscale the market growth in the near future.
However, the higher cost of diabetic shoes is anticipated to restrain the market growth. Additionally, large competition from the local industry players are expected to limit the business growth of the prominent companies which thereby hamper the market growth.
Key Market Driver -
Rising prevalence of the diabetes is expected to drive the market growth.
Key Market Restraint -
Higher cost of the diabetic shoes is anticipated to restrain the market growth.
The prominent players associated with the global diabetic shoes market are, Aetrex Worldwide Inc., Apis Footwear Company, Medical Expo, Dr Comfort, DARCO Medical India, Orthofeet.com, Drewshoe Incorporated, Anodyne LLC, Apexfoot.com, DJO LLC., and many others.
The global diabetic shoe market is segmented based on product type, distribution channel, end-user, and geography.
Based on the product type, the global diabetic shoe market is segmented into casual & athletic shoes and formal shoes. Casual & athletic shoe segment is anticipated to exhibit the largest share of the market owing to the large consumer demand for the various kinds of casual medical footwear products which results in larger revenues from such a segment. Additionally, growing sports & leisure trends across the globe are further driving segmental growth.
Based on the distribution channel, the global market is segmented into specialty stores, hypermarkets & supermarkets, online stores and others. The specialty stores segment is likely to hold a significant share of the market owing to the wide availability of the branded shoe products at such stores. Additionally, the growing number of pharmacy stores offering diabetic shoes across the globe is further supporting market growth.
By end-user, the global market is segmented into men, women, and kids. The male segment is projected to exhibit a significant share of the market as men population is more likely to suffer from diabetes which results in the large demand for diabetic shoes among men. Additionally, the wide availability of the different kinds of medical footwear under the men segment is further driving segmental growth.
By geography, the global diabetic shoe market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The largest share of the North American market is attributed to the large prevalence of type 1 and type 2 diabetes among the population in the countries such as the United States, and Mexico which thereby results in the large consumption of such products in the region. According to the data presented by the U.S. Department of Health and Human Resources, as of 2018, 34.2 million of the U.S. population has diabetes. Additionally, higher consciousness regarding health & hygiene among the population as well as the spending for healthcare products results in the larger diabetic shoe revenues from such region.
The fastest growth of the Asia Pacific region is attributed to the large import volume of footwear products in countries such as India and Malaysia, which indicates increasing demand for diabetic shoes in the region. According to the data presented by the World Bank Organization, in 2018, Indian footwear import volume from Italy reached to USD 23.07 million. Additionally, growing sports and leisure trends among the population in the region are further driving the demand for casual diabetic shoes in the region.
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