The growth in silver hair population and change in lifestyle habits are expected to drive the market along with the awareness about the benefits of diabetic footwear in the coming years.
Portland, OR -- (SBWIRE) -- 11/15/2017 -- Diabetic Footwear Market by Distribution Channel, End User, and Footwear: Global Opportunity Analysis and Industry Forecast, 2017-2023, the diabetic footwear market size was valued at $4,994 million in 2016, and is estimated to reach $8,148 million by 2023, registering a CAGR of 7.6% from 2017 to 2023. In 2017, the number of women diabetic footwear market share and specialty stores segments shares dominated the global market share.
Why is Diabetic Footwear Market Growing Rapidly?
Increased expenditure on diabetes treatment with increased per capita income, the rise in prevalence of diabetes with the geriatric population. The growth in the e-commerce industry and increase in awareness about the benefits of diabetic footwear provides future opportunities in the market. One minor restraint to diabetic footwear market is the cost of the diabetic footwear, which is generally higher than the normal footwear. With regards to the market competition, the diabetic footwear market is growing steadily with the increase in awareness among masses and rise in diabetes incidence.
Diabetic Footwear Market Segmentation:
The global diabetic footwear market is segmented based on distribution channel, end user, footwear type, and geography. Based on distribution channel, it is classified into online platforms, specialty stores, footwear stores, and others. For the end user, it is categorized into men and women. Based on footwear type, it is divided into shoe, sandal, and slipper. Geographically, it is analyzed across, North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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Diabetic Footwear Market Report Key Findings:
-North America leads the global diabetic footwear market, followed by the European region.
-Asia-Pacific is growing with the highest CAGR of 8.6%, with the major share contributed by India and China.
-The women end-user segment accounted for the highest market share with nearly 65% in 2016; however, the men end-user segment is anticipated to witness the highest demand during the forecast period.
-The online platform for diabetic footwear is expected to show better growth rate as compared to specialty stores and footwear stores.
-The shoe footwear type segment possesses higher market share and is expected to witness a considerable growth during the forecast period.
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Diabetic Footwear Market key players:
-Aetrex Industries, Inc. (U.S.)
-New Balance Atheltics, Inc. (U.S.)
-Orthofeet, Inc. (U.S.)
-DJO Global, Inc. (U.S.)
-Drew Shoe Corporation (U.S.)
-Podartis Srl (Italy)
-Propet USA, Inc. (U.S.)
-Hush Puppies Retail, Inc. (U.S.)
-Skechers U.S.A., Inc (U.S.)
-Dr. Zen Products, Inc. (U.S)