Diabetic footwear (shoes) market is estimated to garner a revenue of ~USD 18 Billion by the end of 2033 by growing at a CAGR of ~11%

NEW YORK, NEW YORK, UNITED STATE, January 26, 2023 /EINPresswire.com/ -- Global Diabetic Footwear Market Key Insights

During the forecast period of 2023-2033, the global diabetic footwear market is expected to reach an estimated value of ~USD 18 billion by 2033, by expanding at a CAGR of ~11%. The market further generated a revenue of ~USD 8 billion in the year 2022. Major key factors propelling the growth of diabetic footwear market worldwide are growing prevalence of diabetes all across the globe, along with growing geriatric population.

Market Definition of Diabetic Footwear

Diabetes is a chronic condition brought on by low or absent insulin levels in the body. A person with diabetes could get ulcers, sores, abscesses, or lack of sensation in various body parts, primarily the feet. Diabetic shoes are exceptionally made, which helps to shield the patient’s feet from harm. Unique benefits of diabetic footwear include providing support and protection while reducing pressure points on the feet, lowering the likelihood of diabetic foot ulcers and, consequently, lowering the need for amputations. assist treat a number of diabetic symptoms, including poor blood flow to the legs, which reduces foot pain and ulcers.

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Global Diabetic Footwear Market: Growth Drivers

The growth of the global diabetic footwear market can majorly be attributed to the rising diabetes disease prevalence. The International Diabetes Federation reports that as of 2019, 463 million adults worldwide suffer from diabetic illnesses, and that figure is projected to rise to 700 million by the year 2045. The market is expanding as a result of increasing demand from diabetes patients for athletic diabetic shoes. Further, technological development is a major trend that is becoming more and more popular in the diabetic footwear market. Major players in the diabetic footwear industry are creating innovative technology to improve their market share. For instance, the German business Von Wellx introduced diabetic footwear based on reaction zones technology in December 2021. Von Wellx specialises in footwear that offers health benefits. The shoes work by massaging pressure points in the foot, simulating walking barefoot on grass, boosting blood circulation and oxygenation, revitalising the body and causing minimal weariness throughout the day, even when standing and walking for 12 hours or more.

The global diabetic footwear market is also estimated to grow majorly on account of the following:

Rising prevalence of diabetic neuropathy
Significant rise in pes planus
Surge in spending on diabetes treatment
Growth in healthcare expenditure
Global Diabetic Footwear Market: Restraining Factor

There is less awareness among people regarding diabetic footwear. Also there has been comparatively less spending on diabetic footwear in emerging economies as compared to developed nations. Hence this factor is expected to be the major hindrance for the growth of the global diabetic footwear market during the forecast period.

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Global Diabetic Footwear Market Segmentation

By Type (Running Shoes, Strolling Shoes, Dress Shoes, and Others)
By Width (Narrow, Medium, Wide, and Others)
By Patient Type (Inpatient, and Outpatient)
By Price Range (Low, Medium, and High)
By End-User (Male, and Female)
The female segment is expected to rise significantly over the forecast period owing to the rapidly increasing number of female diabetic patients worldwide and rising female awareness of the impacts of diabetes. For instance, it was found in a study that the lifetime diabetes risk for 20-year-old men in the major cities of India has climbed by around 54% until 2021, whereas this ratio has increased by about 66% for women, and it was notably high among obese women with a ratio of about 87%.

By Distribution Channel [Online (E-Commerce, and Company Owned Websites), and Offline (Shoe Stores, Departmental, Medical Specialty Stores, and Others)
By Region
The North America diabetic footwear market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Growing prevalence of diabetes, and rise in geriatric population are some of the major factors estimated to boost the growth of the market in this region. According to a report from the Centers for Disease Control and Prevention (CDC), nearly 37.3 million Americans—or close to 11% of the country’s population—have diabetes.

The market research report on global diabetic footwear also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Diabetic Footwear Market

Some of the key players of the global diabetic footwear market are Dr.zens Research Inc., duna srl, DJO Global, Inc., Grace Guangzhou Health Shoes Co., Ltd, DARCO International, Inc., Apex Foot Health Industries, LLC, Podartis srl Unipersonale, Orthofeet, Inc., Aetrex Worldwide, Inc., Apis Footwear Company, and others.

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