The global diabetic footwear market size was valued at $5,802.5 million in 2020, and is projected to reach $14,183.7 million by 2031, registering a CAGR of 7.9% from 2022 to 2031.
Diabetic footwear also known as extra depth shoes, are therapeutic shoes, which help improve and maintain the foot health by reducing the damage caused by skin breakdown of patients suffering from diabetes and are diagnosed from foot deformities. The key aspect of diabetic footwear is to prevent foot injuries from frequent mobility with the help of a removable shoe inert and insole, which are made up of stretchable material for adjustability and customization.
The growth of the diabetic footwear market is influenced by the rise in prevalence of various forms of diabetes, which results in huge expenditure toward the diabetes treatment, escalating population in the developing countries, and the rise in per capita income of individuals. However, lack of awareness in the general population in regards to the use of diabetic footwear and counselling for proper foot care is expected to restrain the growth of the global diabetic footwear market.
Production and availability of innovative and new diabetic shoes in the U.S. strengthen the growth of the North America diabetic footwear market. Moreover, rise in disposable income in emerging countries, such as China and India is expected to increase the demand for diabetic shoes in the Asia-Pacific region during the forecast period.
The rise in prevalence of diabetes, the increase in adoption of specialty shoes among the diabetic and obese population, the rise in concerns over the adverse effects associated with the synthetic medicines globally, the shift in the consumer behavior of people for safer alternatives, and the rise in awareness among the diabetic people are the primary factors that are expected to drive the growth of the diabetic footwear market during the forecast period.
On the other hand, factors such as a lack of sufficient information about usage of diabetic footwear among end users, particularly in underdeveloped and emerging countries as well as high cost of diabetic footwear as compared to regular footwear, is predicted to hinder the diabetic footwear market expansion during the forecast period.
The diabetic footwear market is segmented on the basis of type, end user, distribution channel, and region. On the basis of type, the market is segmented into shoes, sandals, and slippers. On the basis of end user, it is classified into men and women. On the basis of distribution channel, the market is divided into online platform, specialty stores, footwear stores, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The online platform is expected to gain huge market share, owing to the increase in penetration in terms of internet & smart phones and the growth of the e-commerce industry. Key players profiled in the report include Podartis Srl (Italy), DJO Global Inc. (U.S.), Aetrex Worldwide, Inc. (U.S.), Dr. Zen Products, Inc. (U.S.), Orthofeet Inc. (U.S.), Propet USA, Inc. (U.S.), I-Runner (U.S.), Pilgrim shoes (U.S.), Finn Comfort (U.S.), and Drew Shoes (U.S.).
Diabetic footwear also known as extra depth shoes, are therapeutic shoes, which help improve and maintain the foot health by reducing the damage caused by skin breakdown of patients suffering from diabetes and are diagnosed from foot deformities. The key aspect of diabetic footwear is to prevent foot injuries from frequent mobility with the help of a removable shoe inert and insole, which are made up of stretchable material for adjustability and customization.
The growth of the diabetic footwear market is influenced by the rise in prevalence of various forms of diabetes, which results in huge expenditure toward the diabetes treatment, escalating population in the developing countries, and the rise in per capita income of individuals. However, lack of awareness in the general population in regards to the use of diabetic footwear and counselling for proper foot care is expected to restrain the growth of the global diabetic footwear market.
Production and availability of innovative and new diabetic shoes in the U.S. strengthen the growth of the North America diabetic footwear market. Moreover, rise in disposable income in emerging countries, such as China and India is expected to increase the demand for diabetic shoes in the Asia-Pacific region during the forecast period.
The rise in prevalence of diabetes, the increase in adoption of specialty shoes among the diabetic and obese population, the rise in concerns over the adverse effects associated with the synthetic medicines globally, the shift in the consumer behavior of people for safer alternatives, and the rise in awareness among the diabetic people are the primary factors that are expected to drive the growth of the diabetic footwear market during the forecast period.
On the other hand, factors such as a lack of sufficient information about usage of diabetic footwear among end users, particularly in underdeveloped and emerging countries as well as high cost of diabetic footwear as compared to regular footwear, is predicted to hinder the diabetic footwear market expansion during the forecast period.
The diabetic footwear market is segmented on the basis of type, end user, distribution channel, and region. On the basis of type, the market is segmented into shoes, sandals, and slippers. On the basis of end user, it is classified into men and women. On the basis of distribution channel, the market is divided into online platform, specialty stores, footwear stores, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The online platform is expected to gain huge market share, owing to the increase in penetration in terms of internet & smart phones and the growth of the e-commerce industry. Key players profiled in the report include Podartis Srl (Italy), DJO Global Inc. (U.S.), Aetrex Worldwide, Inc. (U.S.), Dr. Zen Products, Inc. (U.S.), Orthofeet Inc. (U.S.), Propet USA, Inc. (U.S.), I-Runner (U.S.), Pilgrim shoes (U.S.), Finn Comfort (U.S.), and Drew Shoes (U.S.).
KEY BENEFITS FOR STAKEHOLDERS
- This report provides quantitative analysis of the current diabetic footwear market trends, estimations, and dynamics from 2020 to 2031, which assist to identify the prevailing diabetic footwear market opportunities
- Major countries in each region have been mapped based on the revenue contribution to the global market
- Market player positioning of the industry has been provided to provide a clear understanding of their competitive strengths
- Porter's Five Forces analysis is used to illustrate the potential of suppliers and buyers in the industry
- Comprehensive analysis of factors that drive and restrict the growth of diabetic footwear is provided
- The report focuses on the regional & global market, the key players, and market segments apart from a detailed study on the divisions and application areas
KEY MARKET SEGMENTS
By Type
- Shoes
- Sandals
- Slippers
By End User
- Men
- Women
By Distribution Channel
- Online Platform
- Specialty Stores
- Footwear Stores
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Diabetic Footwear Market, by Type
Chapter 5: Diabetic Footwear Market, by End-user
Chapter 6: Diabetic Footwear Market, by Distribution Channel
Chapter 7: Diabetic Footwear Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Diabetic Footwear Market by Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020–2031,”the global diabetic footwear market size was valued at $5,802.5 million in 2020, and is projected to reach $14,183.7 million by 2031, registering a CAGR of 7.9% from 2022 to 2031.Diabetic footwear is designed to prevent foot injuries from frequent mobility with the help of a removable shoe insert and insole, which are made up of stretchable material for adjustability and customization. Diabetic specialty stores and online portals offer a wide range of footwear styles, orthopedic and feet benefit, brands, and prices.
Customers are concerned about their foot health; thus, they like to inspect the softness and durability of shoes and insoles before purchasing them. In addition, people are purchasing footwear on their physicians’ orders to avoid numerous foot related issues. Diabetic footwear promotes blood circulation in the foot area, which increases their popularity among diabetic patients. All these factors create diabetic footwear market opportunities.
Increase in obese population primarily drives the diabetic footwear market. Moreover, rapid advancement observed in internet penetration, increase in life expectancy, and growth in popularity of online shopping portals over the last decade augment the diabetic footwear market growth. The advancement in knowledge regarding diabetes and benefits of diabetic footwear further drive the demand for online rental by making the process even more convenient. Furthermore, the increase in life expectancy, which in turn results in the growth of the aging population drives the market within Asia-Pacific. Diabetic footwear is expected to gain popularity on online portals in the near future with few restraints such as lesser knowledge of benefits of diabetic shoes and negligence on the part of diabetic patients. These diabetic footwear market trends boost the market growth.
The diabetic footwear market’s long-term expansion is projected to be supported by expanding infrastructure facilities associated to distribution outlets and specialized footwear shops. The global population’s unhealthy and hectic lifestyles encouragethe rise in demand for diverse medical footwears. Aside from that, the growing number of elderly individuals across the globe is expected to boost the growth of the global diabetic footwear market during the forecast period.
The increased expense of diabetic footwear, on the other hand, is expected to limit the market expansion. Furthermore, fierce competition from industry players is projected to impede the important market players’ business growth, stifling the market expansion during the forecast period.
The COVID-19 pandemic situation had negative impact on the diabetic footwear market due to supply chain disruption and shutdown of manufacturing units across the world.
According to the diabetic footwear market analysis, the diabetic footwear market is segmented on the basis oftype, end user, and distribution channel. Amongst the distribution channel segments, the specialty store segment is the major revenue contributor in the diabetic footwear market, which is anticipated to reach $7,551.7 million by 2031. However, the online platform segment is expected to be the fastest growing end user segment, growing at a CAGR of 8.4% during the forecast period. In addition, the online platform segment is expected to witness a gaining market share due to increase in internet penetration and ease of use.
On the basis of type, the market is segmented into shoe, sandal, and slipper. The sandal segment is expected to grow comparatively faster than other diabetic footwear types, witnessing a CAGR of 8.6% during the forecast period. The increase in awareness about the different styles of diabetic footwear boosts the growth of the footwear type segment during the forecast period. The shoe segment is expected to remain dominant throughout the diabetic footwear market forecast. The diabetic footwear market for slippers is expected to reach $2,441.7 million by 2031, growing at CAGRof 8.4% during the forecast period.
On the basis ofregion, the market is dominated by North America, particularly the U.S., followed by Europe, where UK has the major market, while Asia-Pacific is dominated by India, with nearly 8.2% CAGR during the forecast period. In addition, LAMEA is expected to witness a steady CAGR of 7.9% during the forecast period.
Increase in obesity along with rise in old age population arecollectively expected to majorly drive the diabetic footwear market demand in Japan. In Europe, Germany, Italy, and France possess huge growth potential owing to their increase in GDP.
The key diabetic footwear industry players profiled in the report include Podartis Srl (Italy), DJO Global Inc. (U.S.), Aetrex Worldwide, Inc. (U.S.), Dr. Zen Products, Inc. (U.S.), Orthofeet Inc. (U.S.), Propet USA, Inc. (U.S.), I-Runner (U.S.), Pilgrim shoes (U.S.), Finn Comfort (U.S.), and Drew Shoes (U.S.). The major diabetic footwear companies are present in the U.S. market players such as DJO Global, Inc., Aetrex Industries, Inc., and Drew Shoe Corporation have established themselves as market leaders in terms of geographical presence and product portfolio.
Key Findings Of Study
- In 2020, on the basis of type, the shoe footwear segment accounted for the highest diabetic footwear market share, growing at a CAGR of 75% from 2022 to 2031
- In 2020, on the basis of type, the sandals footwear segment accounted for the 30.2% market share and is expected to growth at the highest CAGR of 86%during the forecast period
- In 2020, on the basis of distribution channel, the online platform segment accounted for 25.3% share and is projected to grow at the highest CAGR of 84% during the forecast period
- In 2020, on the basis of end user, the women segment accounted for the highest market share. It is estimated to grow at CAGRs of 77% during the forecast period
- In 2020, on the basis of region, North America accounted for a prominent market share and is anticipated to grow at a CAGRs of 71%during the forecast period
Companies Mentioned
- Podartis Srl (Italy)
- DJO Global Inc. (U.S.)
- Aetrex Worldwide, Inc. (U.S.)
- Dr. Zen Products
- Inc. (U.S.)
- Orthofeet Inc. (U.S.)
- Propet USA, Inc. (U.S.)
- I-Runner (U.S.)
- Pilgrim shoes (U.S.)
- Finn Comfort (U.S.)
- Drew Shoes (U.S.).
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | February 2022 |
| Forecast Period | 2020 - 2031 |
| Estimated Market Value ( USD | $ 5802.5 million |
| Forecasted Market Value ( USD | $ 14183.7 million |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
