The global diabetic footwear market is expected to grow at a CAGR of around 6.1% over the forecast period 2021-2026.
As per the reports of the WHO, diabetes is one of the leading causes of mortality in the world. More than 50% of the diabetic patients develop neuropathy, which results in reduced quality of life due to pain, fall-related injury, and foot amputation and ulceration. Accordingly, people suffering from diabetes are more vulnerable to develop sores, abscesses, ulcers, or loss of sensation in parts of the body, predominantly in feet. This limits the range of shoes that can be worn comfortably by these patients.
Diabetic footwear sometimes referred to as extra depth, therapeutic or sugar footwear are specially designed stretchable footwear with specific key features which aid in minimizing the risk of skin breakdown in diabetic patients and effectively protect the patient’s feet from injuries. The biomechanical engineering, athletic footwear technology and therapeutic detailing used in these footwear help heal a range of diabetic conditions in diabetic patients.
The safety and key comfort features of the diabetic footwear enable the users to use this product for other purposes including posture improvement and relief from lower body pain etc.
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The primary factors influencing the growth of the diabetic footwear market include; the surging prevalence of diabetes amongst global population across the globe, the augmenting adoption of specialty shoes among the obese and diabetic population for relief from pain and injuries, the rising concerns over the side effects associated with synthetic medicines across the globe and the changing preference of people for safer alternatives, the growing awareness among diabetic patients regarding the use and benefits of diabetic footwear and the changing lifestyles involving dearth of exercise and changed dietary habits resulting in several health issues among people etc.
Additionally, the existing players in the market are seen to be increasingly emphasizing on growing their R&D activities for the launch of customized and fashionable diabetic footwear products. This can be attributed to the ongoing fashion trend primarily coming from the woman and the younger segments of the population and their rising demand for new designs and products with greater efficacy and multiple benefits. Therefore, the surging number of innovative activities by the manufacturers along with the increasing fashion trends across different regions is projected to create massive growth opportunities for the diabetic footwear market and its players in the next few years.
Moreover, the augmenting e-commerce industry has been playing a vital role in the expansion of the diabetic footwear market since the last few years. Key vendors in the diabetic footwear market are proactively focusing on enhancing the availability and sales of their products online by making use of strategies such as effective online education and targeted marketing to persuade diabetic patients to purchase diabetic footwear through online platforms. Thus, the proliferating internet penetration, the increasing presence of an effective online platform by key players along with other diabetic products enabling access to wide range of diabetic footwear with added online sales services is anticipated to significantly contribute towards the growth of the diabetic footwear market in the upcoming years.
Furthermore, other factors such as the increasing recommendations by doctors to use specially designed shoes that can reduce the risk and promote healthy circulation in feet of patients, the growing consumer preference toward diabetic footwear and other healthy remedies to reduce the impact of pre-diabetic cells, the proliferating number of technological advancements and medical upgrades across regions and the increasing awareness regarding healthy and energetic lifestyles among people are expected to substantially contribute toward the growth of the diabetic footwear market in the next few years.
However, factors such as the dearth of proper knowledge about using diabetic footwear among potential users particularly in underdeveloped and developing countries and the high cost of diabetic footwear as compared to normal footwear may limit the growth of the market in the forecast period.
DIABETIC FOOTWEAR MARKET SEGMENTATION:
By Product Type:
By End User:
By Distribution Channel:
- Online Stores
- Shoe Stores
- Specialty Stores
- Departmental Stores
- Super Market & Hyper Market
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Geographically, the Asia-Pacific region is the most dominant and the fastest growing regional market for diabetic footwear. The region’s growth can be attributed to various primary factors including; the large population suffering from diabetes coupled with the increasing expenditure on diabetes treatment in the region, the rising awareness about diabetes and its impact on foot health among people in the region, the soaring investments by key players due to the dominance of type 2 diabetes in the region, the proliferating number of improved diabetic footwear launches in the region, the changing lifestyle and fluctuating diet patterns among the middle-class population in emerging economies including China and India as a result of their hectic work style and the burgeoning availability of relatively cheaper products from local players in India and China etc. Additionally, the augmenting per capita income of people in the region giving rise to their spending capacity also increases the demand for diabetic footwear products in the region. The major contributors in the region include India, China, Japan, Australia and Singapore with India leading and dubbed as ‘The Diabetes Capital of the World’.
On the other hand, the North American and the European region which have been accounting for the second and the third largest share in the diabetic footwear market over the previous years are poised to remain at their respective positions in the next few years as well. This can be well attributed to factors such as the tremendously rising cases of diabetes in these regions, the rising concerns regarding adverse effects associated with diabetic disorders among the working class population of the regions, the increasing production and availability of innovative diabetic products especially in the major parts of the regions and the growing number of government initiatives to raise alertness amongst the public on precautions and treatment pertaining to diabetes in the regions etc. The major contributors in the regions include the U.S, Canada, Germany and France.
FEW KEY PLAYERS IN DIABETIC FOOTWEAR MARKET:
The global diabetic footwear market is highly fragmented and competitive with the presence of key operating players including:
- Hush Puppies Retail Inc.
- Podartis Srl
- DJO Global Inc.
- Tony Martin Limb and Brace LLC
- Sure Fit Home Products LLC
- Aetrex Worldwide Inc.
- Zen Products Inc.
- Orthofeet Inc.
- Propet USA Inc.
- Pilgrim Shoes
- Finn Comfort
- New Balance Inc.
- Hanger Clinic
- Etonic Worldwide LLC
- DARCO International Inc.
- Apex Foot Health Industries LLC
- Comfort LLC
- Advance Diabetic Solution
- Drew Shoe Corporation
- Duna S.r.l
- Hong Kong Grace Shoes
- Finn Comfort
- Other Players
Some of these players from time to time adopt different strategic business collaborations and partnerships in the form of mergers and acquisitions for the purpose of increasing their revenue, market share and their geographical footprints across different regions around the globe.
- In February 2021, D. Samson Industries signed a Memorandum of Understanding (MoU) with the Sri Lanka Medical Association (SLMA) for the production of a Beta Brand-Diabetic Shoe Range under the NIROGI LANKA project.