Diabetic Footwear Market Overview:
Global Diabetic Footwear Market size is expected to reach $8,148 million in 2023 from $4,994 million in 2016, growing at a CAGR of 7.6% from 2017 to 2023. 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.
The main drivers of the 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 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) .
Top Impacting Factors
Increase in Old Age Population and Rise in Prevalence of Diabetes
Technological advancement in healthcare facilities has increased life expectancy, which is the major cause of growing old age population globally, especially in China and Japan, which have around 26% of the old age population. The risks of diabetes have increased due to increase in geriatric population, which increased the market for diabetic footwear. In addition, growth in disposable income among these age groups and surge in knowledge related to benefits of diabetic footwear boost the market growth. Nearly 20% of the global population has both type 1 and type 2 diabetes. Increase in life expectancy, improved health care facilities, and low birth ratio all contributed to geriatric population. Furthermore, sedentary lifestyle and faulty food habits have increased obese cases globally especially in the developed countries, resulting in increased diabetes cases, thus propelling the market growth in the near future.
Customized Diabetic Footwear and Expanding Online Platforms
Customized diabetic-orthopedic shoes protect feet better than a standard footwear by reducing pressure by padding pressure points and supporting deformities that cause foot ulcers and skin breakdown. These are prescribed by orthopedic foot and ankle specialists and are tailor made. Use of custom-built footwear is associated with a reduced incidence of foot sores in people with diabetes. The special shoes are designed to fit softly around sore feet to help prevent foot injuries.
Increase in online shopping portals for various orthopedic and diabetic footwear has increased the overall diabetic footwear market. These portals are user friendly and provide easy access to various brands and shoe types for the user. The diabetic footwear market has extensive prospects with the promising e-commerce industry and expanding new brands in the market.
Source: Primary Research, Secondary Research, and AMR Analysis
Increase per Capita Income and Increased Spending on Diabetes Treatment.
Rapid growth improving GDP and increasing per capita income especially in developing countries of Asia-Pacific propel the market for diabetic footwear. Rise in expenditure by people is also expected to foster the demand for diabetic shoes across the Asia-Pacific and globally. Moreover, increase in cost of diabetic treatment had risen in recent times and is expected to increase in the coming future, which further enhances the diabetic footwear market. Rise in elderly population, increase in economic condition, improvement in purchasing power, surge in disposable income, and growth in the per capita income are the major factors that boost the demand for diabetic shoes in the Asia-Pacific and globally.
- A comprehensive analysis of the current trends and future estimations in the global diabetic footwear market is provided.
- The report elucidates key drivers, restraints, and opportunities and a detailed impact analysis from 2016 to 2023.
- Porters Five Forces model of the industry illustrates the potency of the buyers and suppliers in the market.
- A quantitative analysis of the current scenario and the forecast period highlights the financial competency of the market.
- The report provides a detailed analysis of the market with respect to distribution channel, end user, footwear, and geography.
Diabetic Footwear Market Key Segments:
By Distribution Channel
- Online Platforms
- Specialty Stores
- Footwear Stores
By End User
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- South Africa
- 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)
The Other Players in the Value Chain Include (profiles not included in the report):
- Finn Comfort (U.S.)
- I-Runner (U.S.)
- Pilgrim Shoes (U.S.)