Global $300+ Million Diabetic Socks Markets, 2016-2019 & 2020-2027 - Companies with a Strong Brand Image will Build Market Traction
DUBLIN, Sept. 23, 2020 /PRNewswire/ -- The "Diabetic Socks Market Size, Share & Trends Analysis Report by Product (Ankle Length, Calf Length, Knee Length), by Distribution Channel (Hypermarkets, E-commerce), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global diabetic socks market size is anticipated to reach USD 303.2 million by 2027, expanding at a CAGR of 5.5% from 2020 to 2027.
Diabetic Socks Market Report Highlights
- In terms of product type, the calf-length segment held a 68.3% share of the overall revenue in 2019.
- Asia Pacific is expected to expand at the fastest CAGR of 5.9% from 2020 to 2027. Growing cases of diabetes are expected to drive the market in the region. China and India are among the top two countries witnessing the largest number of diabetic cases across the globe.
- By distribution channel, the hypermarket segment held the largest share in 2019 and is expected to retain its pole position throughout the forecast period. The increasing availability of a wide range of diabetic socks in these stores is one of the main reasons driving the segment.
- Companies with a strong brand image will build traction and new companies who leverage technology will continue to enjoy a greater portion of the marketplace.
The rising prevalence of diabetes worldwide is expected to fuel market growth. According to a report by the International Diabetic Federation, the number of diabetic cases is expected to increase by 25% from 463 million in 2019 to 578 million in 2030. Additionally, countries in South East Asia and the Middle East are expected to witness close to 74% and 96% increase, respectively, in the number of cases by 2045. Increasing cases of diabetes will complement the growth of the market in the coming years.
One of the market drivers is the growing need for non-invasive methodologies. Growing awareness of self-care treatments pertaining to supporting footwear, along with technical advances such as gel padding and the launch of smart socks with fiber-optic sensors, is presenting new growth opportunities for the market. For example, in June 2019, Protect iT, a Swiss brand, launched a therapeutic line and a comfort line of diabetic socks with padded layers to deliver protection to the sensitive and sore-prone areas of the feet for people with diabetes.
By product type, the calf-length socks segment held the largest share of 68.3% in 2019. The growth is attributed to an increase in recommendations by doctors and medical councilors of calf-length socks to diabetic neuropathy patients. These socks help to avoid infection in the feet and any potential damage to their circulatory and nervous systems caused by high blood sugar levels
North America accounted for the largest revenue share in 2019. According to the report by the American Diabetes Association, nearly 1.6 million Americans have type 1 diabetes, including about 187,000 children and adolescents. Growing cases of diabetes in this region are expected to fuel the market growth. Moreover, the presence of leading players in this region is driving the market.
For example, in February 2015, Sigvaris USA announced the launch of their new diabetic's sock designed for diabetic patients. Eversoft diabetic socks with FreshGuard technology treatment that can prevent odor and moisture and decrease the risk of infection by reducing the friction against the skin. Technological innovations are expected to bode well for the regional market.
E-commerce is expected to emerge as the fastest-growing channel in the coming years. Online searches for diabetic socks have increased steadily, particularly in the United States, Canada, the U.K., and Australia. This bodes well for manufacturers and brands planning to set up e-commerce sites to sell products wholesale or retail or is setting up shop with one of the top auction or on-line retail sites, such as eBay, uBid, and Bidz.com. These sites already generate a large amount of traffic, which increases product visibility, thereby enhancing sales of these products through online sales channels.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Diabetic Socks Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.5. Business Environment Analysis
3.6. Roadmap of Diabetic socks Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19 Pandemic on Diabetic Socks Market
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Diabetic Socks Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2019 & 2027
5.2. Ankle length
5.3. Calf length
5.4. Knee length
Chapter 6. Diabetic Socks Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2019 & 2027
6.2. Hypermarkets
6.3. Pharmacy & Drug stores
6.4. E-commerce
6.5. Others
Chapter 7. Diabetic Socks Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2019 & 2027
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2019
Chapter 9. Company Profiles
- BSN medical
- SIGVARIS.
- SIMCAN
- 3M.
- Syounaa
- HangZhou Aidu Trading Co. Ltd.
- Soyad Brothers LLC
- PediFix Inc.
- Thorlo Inc
- Reflexa
For more information about this report visit https://www.researchandmarkets.com/r/ic2p77
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