Impact of Covid-19 on Diabetic Socks Market 2020 | Enormous Growth with Recent Trends & Demand By Top Key Players Colfax Corporation, I-Runner, Orthofeet Inc., European Lingerie Group, Drew Shoe, Creswell Sock Mills

Diabetic Socks Market garnered $292.5 million in 2018, and is estimated to reach $435.4 million by 2026, registering a CAGR of 5.4% from 2019 to 2026.

oDrivers, restraints, and opportunities

Increase in the aging population and rise in the prevalence of diabetes drive the global diabetic socks market. However, lack of awareness toward diabetic socks restrains the market growth. On the other hand, brand expansion and budding role of e-commerce in diabetic socks create new opportunities in the coming years.

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Based on type, the calf length segment accounted for more than half of the total share of the global diabetic socks market in 2018, and is expected to maintain its lead status in terms of revenue throughout the forecast period. In addition, the segment is estimated to portray the fastest CAGR of 5.7% from 2019 to 2026. This is attributed to increased demand and usage of calf length diabetic socks that help in relieving pain and treat medical condition in one's lower leg such as varicose veins, aching feet, or other blood circulation issues up to calf length.

oThe online channels segment held lion's share during the forecast period

Based on sales channel, the offline channels segment contributed to the highest market share, accounting for more than four-fifths of the global diabetic socks market share in 2018, and is estimated to maintain its leadership position during the forecast period. This is attributed fact that offline channels such as physical stores that allow the customers to check and test the merchandise before purchasing, which enhances the consumer shopping experience. However, the online channels segment is estimated to generate the fastest CAGR of 6.1% from 2019 to 2026. This is due to time-saving features, easy availability of information about diabetic socks, and the facility of home delivery.

oNorth America to maintain its dominant by 2026

Based on region, North America accounted for the highest share, holding for more than two-fifths of the global diabetic socks market in 2018, and is projected to maintain its dominant position throughout the forecast period. This is attributed to surge in cases of diabetes patients across the region. However, Asia-Pacific is estimated to portray the fastest CAGR of 6.4% from 2019 to 2026, owing to rapid increase in prevalence of diabetes because of sedentary lifestyle and increased consumption of junk food.

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Leading market players

oI-Runner
oColfax Corporation
oEuropean Lingerie Group,
oOrthofeet Inc.
oCreswell Sock Mills
oDrew Shoe
oNishikaa Garments International LLP
oPantherella International Group
oDrew Shop
oSimcan Enterprises Inc.

Source: https://www.prnewswire.com/news-releases/diabetic-socks-market-to-reach-435-4-mn-globally-by-2026-at-5-4-cagr-allied-market-research-301064723.html

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