The Global Diabetic Shoes Industry is on track for significant growth, according to a recent industry analysis by Future Market Insights (FMI). Currently valued at an estimated US$8.6 billion in 2023, the market is projected to climb steadily at a Compound Annual Growth Rate (CAGR) of 6.4% over the next decade, reaching an impressive US$16.0 billion by 2033.
This growth is driven by several factors, including the rising prevalence of diabetes and increased public awareness of this chronic illness.As market trends evolve, both the industry and the market are anticipated to experience significant growth in the coming years
Most people in the world are affected by Type 1 and Type 2 diabetes. Problems including neuropathy, loss of feeling, and numbness in the foot are brought on by high blood sugar levels. To prevent foot complications in a diabetic condition, proper foot care is crucial. Due to this high occurrence, medical professionals advise patients to wear diabetic shoes. Additionally, online merchants encourage their customers to purchase these shoes over other types of footwear by emphasizing their optimum effectiveness.
Diabetic shoes are a helpful addition to a healthy diet, an active lifestyle, and the right medications for managing diabetes.
The therapeutic shoes’ exceptional comfort, added depth, flexibility, and lightweight qualities, as well as their availability in attractive designs and colors, all contribute to the expansion of the Global Diabetic shoe industry.
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Key Takeaways from Global Diabetic Shoes Industry Study:
- Based on product type, dress shoe leads the segment with a growth rate of 6.4%. The growing working-class population and the rising demand for trending designs that suit consumer outfits would serve as growth factors.
- Women are more prone to diabetes due to their high SHBG levels. Growing awareness among women to maintain their physique and health would lead them to be the top end-users and lead the segment with a growth rate of 5.8%
- The segment of online retailers is predicted to expand at a phenomenal CAGR of 10.8% throughout the projected period in terms of the sales channel. The segment’s expansion can be attributed to consumers’ increasing preference for online shopping.
- The United States leads the market with a revenue share of US$ 5.7 billion. The population in the United States is more concerned about their health and hygiene, which leads them to spend highly on healthcare solutions.
- China is among the most lucrative countries in the region, contributing a CAGR of 5.8% by 2033. The growing geriatric population is a crucial factor supporting the growth. Investments from various key businesses in the region are likely to serve as a potential opportunity for the market to grow.
Global Diabetic Shoes Industry Competitive Landscape:
To grow their company internationally and gain a competitive edge in the global diabetic shoes market, top diabetic shoe manufacturers have implemented a variety of organic and inorganic strategies, including new product launches, mergers, partnerships, acquisitions, the strengthening of online sales channels, and the establishment of new manufacturing facilities.
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Latest Developments in the Global Diabetic Shoes Industry :
- The development of smart footwear was revealed by Sensoria Health and Optima Molliter at the International Consumer Electronics Show (CES) in January 2018. Motus Smart footwear was unveiled by Microsoft, Optima Molliter, and Sensoria Health later in October 2019.
- Orpyx SI sensory insoles were introduced in December 2019 by Orpyx Medical Technologies Inc., a leader in digital health therapies. These insoles may inform patients in real time and enable them to take action against high-pressure foot areas that could cause tissue breakdown.
- New diabetic footwear from Von Wellex, Germany was introduced in 2021, a footwear that can reduce the possibility of foot issues.
Global Diabetic Shoes Industry Key Companies Profiled
- Asics, Drewshoe, Incorporated, O
- rthofeet Inc.,
- DARCO International, Inc.,
- Clearwell Mobility Company,
- Supad, Aetrex Worldwide, Inc.,
- Gravity Defyer Corp.,
- Kinetec Medical Products Ltd,
- Horng Shin Footwear Co.,
- Watts Footwear, DJO, LLC
- (Dr. Comfort),
- Advance Diabetic Solution,
- Zen Products, Inc.,
- Sensoria Health
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Key Segments Covered in the Global Diabetic Shoes Industry Report
By Product Type:
- Dress Shoes
- Running Shoes
- Strolling Shoes
- Others
By Patient Type:
- Outpatient
- Inpatient
By End User:
- Men
- Women
By Width:
- Narrow
- Medium
- Wide
- Others
By Sales Channel:
- Direct Sales
- Footwear Specialty Stores
- Medical & Healthcare Centers
- Online Retailers
- Mono-brand Stores
- Other Sales Channel
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
Author
Sabyasachi Ghosh(Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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