Diabetic Socks Market Size is projected to grow at over 4.8% CAGR to 2030
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Increasing prevalence of diabetics and related complications, such as Diabetic Food Ulcer (DFC) and diabetic neuropathy, is a key factor.
Diabetic Socks Market Size – USD 344.80 Million in 2021, Market Growth – at a CAGR of 4.8%, Market Trends – Introduction of innovative smart sock technology”
— Emergen Research
VANCOUVER, B.C., CANADA, April 5, 2023 /EINPresswire.com/ — The global diabetic socks market size was USD 344.80 Million in 2021 and is expected to register a revenue CAGR of 4.8% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of diabetics and related complications such as Diabetic Food Ulcer (DFC) and diabetic neuropathy, growing consumer demand for better & improved accessibility and benefits offered by diabetic socks to patients over regular socks, and introduction of innovative smart sock technology are factors driving market revenue growth.
Diabetes is becoming more prevalent all around the world. According to International Diabetes Foundation, 537 million people (20-79 years old) will have diabetes by 2021, with 1.5 million new cases of diagnosed each year in the U.S. Diabetes can cause a number of health issues, including retinopathy, brain or heart disease, neuropathy (nerve system abnormalities), and Diabetic Foot Ulcers (DFU), among others. One of the most common and early concerns, however, is rise in skin problems in diabetic patients.
The feet of most diabetics become a particularly sensitive area, making diabetes-related foot ulcers a common problem that requires careful observation and medical management, due to delayed healing and reduced immunity. According to research, foot ulcer affects 15% to 25% of diabetics over the course of their lifetime and an open sore can become infected and cause problems, while in 85% of diabetes-related limb amputation cases, ulceration occurred first.
The report is a comprehensive research study of the global Diabetic Socks market inclusive of the latest trends, growth factors, developments, opportunities, and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated with data gathered from primary and secondary research examined and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application, and region, and technological advancements.
The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are Apex Foot Health Industries, SIGVARIS, Siren, HangZhou Aidu Trading Co., Ltd., Soyad Brothers LLC., DJO, LLC, PediFix Inc., Cupron, Thorlo Inc., Reflexa, and BSN Medical.
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Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Diabetic Socks market
Sales revenue by key players and new entrants
Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight to recent trends and opportunities
The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Diabetic Socks market with regards to market share, market size, production and consumption ratio, product launches and R&D activities, investment opportunities, and presence of key players in the region.
Some Key Highlights From the Report
The copper segment accounted for a moderate revenue share in 2021. Copper-infused socks also stop an athlete’s foot from spreading when worn again and these socks prevent odor. Within hours of contact, copper’s antimicrobial properties successfully eliminate bacteria, viruses, and fungi that cause skin diseases or offensive odors and copper-impregnated fabric also aids in growth of new skin cells, which speeds up wound healing and offers protection from pathogens.
The retail stores segment accounted for a significant revenue share in 2021. This is attributed to offline stores facilitating a variety of options of hair care products promoting both branded and private labelled products. Retail establishments give customers right to make decision by allowing them to select from a variety of brands. Customers can also interact with owners and employees of retail establishments about various products to gain pertinent information. Retail store owners and employees may help customers make the best decision, which might be more convenient for them if they prefer an efficient purchasing procedure to browsing online.
The Asia Pacific market accounted for a significant revenue share in 2021. The diabetic socks market is growing in this region, particularly in India, Japan, and China, owing to rising prevalence of diabetes among population, especially growing elderly population and increasing textile imports and exports for hosiery products including diabetic socks for provision of diabetic socks, especially in China and India, which have resulted in continued growth of this industry. For instance, according to International markets for Hosiery, global commerce in hosiery, which includes socks, pantyhose, tights, compression hosiery, and stockings, is anticipated to increase in 2021.
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The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented the global diabetic socks market based on material type, distribution channel, and region:
Material Type Outlook (Revenue, USD Million; 2019-2030)
Distribution Channel Outlook (Revenue, USD Million; 2019-2030)
The report demonstrates the progress and advancement achieved by the global Diabetic Socks market, including the historical analysis and progress through the forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter’s Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Diabetic Socks market?
What are the key product types and applications of the Diabetic Socks industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Diabetic Socks market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Diabetic Socks Market by 2030?
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April 05, 2023, 14:01 GMT
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