Press release
Global Diabetic Footwear Market: Research Methodology Report: Analysis: Growth Challenges, Opportunities and Forthcoming Developments
Drivers:
Increasing geriatric population is expected to drive growth of the global diabetic footwear market.
According to the World Population Prospects, by 2050, one in six individuals globally will be aged 65 years and above. Furthermore, in 2018, for the very first time in history, individuals aged 65 or and above surpassed children under five years of age globally.
Increased expenditure on diabetes treatment is expected to drive growth of the global diabetic footwear market.
According to the American Diabetic Association (ADA), in 2018, annual cost for diagnosing diabetics in the U.S. was US$ 324 billion, which is a 26% increase over five-year period (2013-2018).
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Restraints:
Lack of awareness towards diabetic footwear is expected to restrain growth of the global diabetic footwear market.
Regional insights:
North America region is expected to dominate the global diabetic footwear market due to rise in diabetic cases. For instance, according to the American Diabetic Association, in 2018, around 34 million U.S. citizens had diabetics.
Asia Pacific is expected grow rapidly in near future due to rise increase in geriatric population, rise in disposable income, and growth in awareness about diabetes.
Competitors section:
Key competitors of global diabetic footwear market are Etonic Worldwide LLC, Podartis Srl, DARCO International Inc., Aetrex Worldwide Inc., Apex Foot Health Industries LLC, Dr. Comfort LLC, and Advance Diabetic Solution.
In May 2020, Vimaranense Company Lavoro introduced the high-tech therapeutic footwear project better adapted to the condition of the diabetic foot. The project is being worked on within a consortium of research and technological centers.
In March 2020, Siren raised US$ 11.8 million in funding led by Anathem Ventures, with participation from existing investors DCM, Khosla Ventures, 500 Startups, and Peter Thiel's Founders Funds are raising investment for diabetic footwear product.
By Type
Shoes
Sandals
Slippers
By End-User / Application
Online Platforms
Specialty Stores
Footwear Stores
Others
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