PUBLISHER: The Business Research Company | PRODUCT CODE: 1391154
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391154
“Diabetic Footwear Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on diabetic footwear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for diabetic footwear? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The diabetic footwear market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Diabetic footwear refers to therapeutic shoes designed for individuals with diabetes. These shoes are characterized by their broader and deeper construction compared to regular shoes, incorporating special protective inserts and soft materials. The design typically features a larger toe box to prevent squeezing of the toes and reduce the risk of bottom blisters (ulcers) caused by pressure and friction. The primary purpose of diabetic footwear is to alleviate pressure and address calluses on the bottom of the foot.
The main categories of diabetic footwear include shoes, sandals, and slippers. Diabetic shoes are crafted with special protective inserts and soft materials, aiming to enhance blood circulation, improve nerve sensation, provide a wide toe box, and offer massaging effects to alleviate pressure. These specialized footwear products are available through various distribution channels, including online platforms, specialty stores, and traditional footwear stores. Diabetic footwear caters to diverse end-users, including men and women.
The diabetic foot wear market research report is one of a series of new reports from The Business Research Company that provides diabetic foot wear market statistics, including global market size, regional shares, competitors with a diabetic foot wear market share, detailed diabetic foot wear market segments, market trends and opportunities, and any further data you may need to thrive in the diabetic foot wear industry. This diabetic foot wear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The diabetic footwear market size has grown rapidly in recent years. It will grow from $7.86 billion in 2023 to $8.67 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period in the diabetic footwear market can be attributed to several factors. These include the prevalence of diabetes, a growing aging population, complications related to diabetic foot health, a heightened emphasis on footwear comfort and support, and an increasing awareness of health issues, particularly in relation to diabetes.
The diabetic footwear market size is expected to see strong growth in the next few years. It will grow to $12.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The anticipated growth in the forecast period for the diabetic footwear market can be attributed to various factors, including the increasing focus on diabetic foot health education, the development of footwear catering to active lifestyles, the use of sustainable and eco-friendly materials, expansion into emerging markets, and the rising adoption of non-invasive monitoring technologies. Noteworthy trends expected in the forecast period encompass the emergence of personalized orthopedic footwear, ongoing technological innovations in footwear design, the integration of telehealth and remote consultations, advancements in technology, and the formation of strategic partnerships within the diabetic footwear industry.
The diabetic footwear market is poised for significant growth, driven by the increasing prevalence of diabetes worldwide. Diabetes, characterized by elevated blood glucose levels, necessitates specialized footwear to prevent potential foot health complications. These diabetic shoes offer essential features such as enhanced blood circulation, a spacious toe box, and massaging capabilities, addressing areas of the foot susceptible to discomfort. Notably, the International Diabetes Federation reported 537 million individuals affected by diabetes in 2021, with projections indicating an upward trend, reaching 643 million by 2030 and 783 million by 2045. This surge in diabetic cases underscores the escalating demand for diabetic footwear.
The diabetic footwear market is experiencing a boost due to the growing popularity of e-commerce. The rise of online platforms for buying and selling goods and services over the internet provides a global avenue for diabetic footwear manufacturers and retailers. This enables them to reach a wider audience, including individuals who may lack access to specialized physical stores. Recent data from the United States Census Bureau reveals a substantial increase in e-commerce activity, with a 7.5% growth in the second quarter of 2023 compared to the previous year. E-commerce accounted for 15.4% of all sales during this period, emphasizing its pivotal role in driving the expansion of the diabetic footwear market.
Innovations in technology are emerging as a prominent trend in the diabetic footwear market, with major companies focusing on developing cutting-edge solutions to reinforce their market presence. A notable example is Von Wellx, a Germany-based company specializing in health-beneficial footwear. In December 2021, Von Wellx launched diabetic footwear incorporating reflex zones technology. This innovative footwear leverages massaging mechanisms to stimulate pressure points in the foot, akin to walking barefoot on grass. The result is improved blood circulation and oxygenation, providing sustained energy throughout the day, even during extended periods of standing or walking. The incorporation of such technological advancements showcases the commitment of industry leaders to enhance the overall functionality and health benefits of diabetic footwear.
Leading companies in the diabetic footwear market are at the forefront of technological innovation, introducing advancements like smart boots tailored for diabetic patients to enhance their market performance. Smart boots are specifically engineered to aid diabetic individuals in recovering from precarious foot wounds while monitoring their adherence to rehabilitation protocols. Leveraging sensors and cloud-based technology, these boots track wear time and seamlessly share data directly with the patient's healthcare team. A notable example is Sensoria Health Inc., a US-based company specializing in smart garments and footwear for foot health monitoring. In collaboration with Defender Industries, Inc., Sensoria Health launched the Foot Defender+ powered by Sensoria smart boot for diabetics in September 2022. These boots integrate various sensors, electronics, and connectivity features to offer real-time feedback on foot temperature, pressure distribution, and other critical metrics. The overarching objective of smart boots is to proactively prevent or detect early signs of diabetic foot complications, such as ulcers or infections, safeguarding against serious health implications if left untreated.
In a strategic move, Aiglon Capital and Merit Capital, prominent private infrastructure firms based in the United States, successfully acquired Propet in November 2021. This acquisition, marked by an undisclosed amount, is anticipated to fortify the market position of Aiglon and Merit, providing a robust foundation and unlocking new prospects for brand expansion. Propet, the acquired company, is a distinguished US-based manufacturer specializing in comfort footwear, including a range tailored for individuals with diabetes.
Major companies operating in the diabetic footwear market include Podartis Srl Co., DJO Global Inc., Aetrex Worldwide Inc., Dr. Zen Products Inc., Orthofeet Inc., Dr. Comfort llc, Drew Shoe Corp., New Balance Inc., I-Runner, Finn Comfort USA Inc., Pilgrim shoes & Sewing Machine Co. Inc., Diabetic Soles Inc., Hanger Inc., Hush Puppies Retail Inc., Etonic Worldwide LLC, DARCO International Inc., Apex Foot Health Industries LLC, Propet USA Inc., Toback Podiatry PLC, Anodyne Shoes LLC, P.W. Minor and Son Inc., Pedorthic Shoe Company, Vionic Group LLC, San Antonio Shoe Inc., PediFix Inc., Scholl's Wellness Company LLC, Orthotic Shop Inc., Orthopedic Footwear LLC, ORTHO BioVue, OrthoPro Services Inc.
North America was the largest region in the diabetic footwear market in 2023. The regions covered in the diabetic footwear market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the diabetic footwear market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The diabetic footwear market consists of sales of in-depth shoes, healing shoes, and custom-made shoes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.