Diabetic Footwear– Insights
Diabetes is a chronic disease caused by lack or lower levels of insulin in the body. A person suffering from diabetes may develop sores, abscesses, ulcers, or loss of sensation in parts of the body, predominantly in feet. The exceptional design of diabetic footwear aids in protecting the patient’s feet from injuries. According to World Health Organization (WHO), in 1980, the number of diabetic patients was108 Mn, which in reached 422 Mn in 2014. Primary reason behind this growth in number is the busy lifestyle of urban society along with increased intake of sugar and other artificial sweeteners.
Unique properties of diabetic footwear help heal a variety of diabetic conditions such as inadequate blood circulation to legs and thus, help address foot pain and ulcers. Diabetes is classified as Type 1, Type 2, and gestational diabetes. Type 2 diabetes, the most common type, is caused mainly due to obesity and reduced physical activity. Global diabetic footwear market is largely driven by the rising cases of diabetes, increased spending on diabetes treatment, and growing geriatric population, characterized by high incidence of diabetes.
Men were the biggest end users of diabetic footwear globally in 2016. According to a report by National Health Service, males are more prone to diabetes and need to gain far less weight than females to develop the disease. However, women are expected to be the fastest growing end users of diabetic footwear during the forecast period. Diabetic footwear products include sandals, shoes, and slippers. Availability of diabetic footwear in different models gained them wide acceptance among the public for use in any occasion.
Asia Pacific is the most dominant region in the global diabetic footwear market. According to National Center for Biotechnology Information, around 150 Mn diabetic patients reside in this region, with over 95% diagnosed with Type 2 diabetes. The region accounted for 36.30% of the total market share in 2016, in terms of revenue. The dominance is on account of the large population suffering from diabetes coupled with an increase in expenditure on diabetes treatment and rise in the size of geriatric population. China and India are home to one-third of the total global population with India being dubbed as ‘The Diabetes Capital of the World’. Increase in disposable incomes has resulted in a rise in demand for diabetic footwear in the Asia Pacific region. Also, an increase in diabetic populace coupled with the availability of relatively cheap products from local players in India and China augments the growth of diabetic footwear market in the region.
North America is the second largest region, in terms of value, in the global diabetic footwear market, closely followed by Europe. North America was valued at US$ 1,179.9 Mn in 2016. Various government initiatives have been put forth in the region to raise awareness on causes of diabetes among public. For instance, American Diabetes Association is spread throughout the U.S. to raise alertness amongst the public on precautions and treatment pertaining to diabetes. In addition to this, National Institute of Diabetes has decided to follow November of every year as National Diabetes Month. The diabetic footwear market is expected to grow at a significant rate, owing to the introduction of new brands in the market. Growing popularity of e-commerce is expected to have a positive impact on the growth of the global diabetic footwear market. Large geriatric population in North America and Europe accounted for a rise in number of diabetic cases in these regions. According to Population Reference Bureau, Statistics Canada and EU, geriatric population reported in North America was 51 million and 94 million in Europe. The aforementioned factor is expected to propel the market growth in North America over the forecast period.
The global diabetic footwear market was valued at US$ 5,331.8 Mn in 2016 and is expected to expand at a CAGR of 7.86%, in terms of revenue, during 2017 – 2025.
Figure 1. Global Diabetic Footwear Market Share, By Region
Asia Pacific and North America accounted for major shares in the global diabetic footwear market, both in terms of revenue and volume, in 2016 and are expected to dominate over the forecast period. However, lack of awareness among people in rural areas of emerging economies and premium pricing is a major restraint for the market growth, especially in Asia Pacific.
Major Players in the Global Diabetic Footwear Market
Some of the major players in the global diabetic footwear market include Podartis S.r.l., Aetrex Worldwide Inc., Orthofeet Inc., Etonic Shoes, Drew Shoe, Dr. Comfort, DARCO International, Duna S.r.l, and Hong Kong Grace Shoes, among others.
Diabetes is a disorder caused due to lack or low levels of insulin in the body. A person suffering from diabetes is prone to develop sores, ulcers, or loss of insulin, which in severe cases can lead to amputation. Diabetic footwear helps protect the feet of a person suffering from diabetes from cuts or external injuries. It is specially designed to suit such needs and also offers properties that aid in rapid healing of such wounds. According to World Health Organization (WHO), in 1980, the number of people suffering from diabetes was 108 million and reached 422 million by 2014. The sharp increase in the number of people suffering from diabetes is attributed to the sedentary lifestyles coupled with an increased intake of sugar and other artificial sweeteners. Diabetic footwear helps address various diabetic conditions such as inadequate circulation of blood to the legs and in turn helps cure various foot ulcers and other foot-related complications. Diabetes is of three types, Type 1, Type 2, and Gestational diabetes.
Asia Pacific was the largest market for diabetic footwear in 2016 and is expected to retain its dominance during the forecast period. The high number of diabetics globally is expected to result in an increase in demand for diabetic footwear, thus leading to the growth of the global diabetic footwear market. The high population of diabetics in India and China is a major driving factor for the market growth in Asia Pacific. This can be attributed to the changing lifestyles and increasing urbanization in these countries. Asia Pacific diabetic footwear market is expected to exhibit a CAGR of 8.07% during the forecast period. North America is the second largest region, valued at US$ 1,179.9 Mn in 2016 and is expected to expand at a CAGR of 7.91% during the forecast period.
The report segments the global diabetic footwear market on the basis of product type, distribution channel, end user, and geography. On the basis of product type, the market is segmented as shoes, sandals, and slippers. On the basis of distribution channel, the market is segmented as online stores, supermarkets, hypermarkets, specialty stores, and others. The end users are sub-segmented into male, female, and kids. Men are the biggest end users of diabetic footwear. On the basis of geography, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all regions, Asia Pacific contributes a major market share, supported by increased urbanization and presence of India and China, which collectively account for the highest number of diabetics globally.
Key Features of the Study:
*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 90 market data tables and 40 figures on "Reprocessed Medical Devices Market - Global forecast to 2025”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.