Diabetes is a chronic metabolic disorder characterized by high level of blood glucose, which over the time could cause serious damage to the heart, blood vessels, eyes, kidneys, and nerves. Diabetic footwear combines athletic footwear technology and therapeutic detailing, which offers the highest level of comfort and protection for sensitive feet. The main advantage of these shoes is the vital comfort level and safety to the feet.
Portland, OR -- (SBWIRE) -- 10/02/2017 -- The main drivers of the Diabetic Footwear Market include increased expenditure on diabetes treatment with increased per capita income, rise in prevalence of diabetes with geriatric population. The growth in 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 increase in awareness among masses and rise in diabetes incidence.
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, number of women diabetic footwear market share and specialty stores segments share dominated the global market share.
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 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). The key players profiled in this report include 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.), and Dr. Zen Products, Inc. (U.S) .
Furthermore, increased e-commerce market within major economies also aid the high market growth rate. E-commerce channels are expected to gain popularity in diabetic footwear market in the near future with some restraints, such as lesser awareness among consumers, customer-related carelessness, and higher cost issue.
Key Findings of the Diabetic Footwear Market:
- 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 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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