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Diabetic Socks Market 2021 Comprehensive Growth, Industry Share-Size Estimate, Consumption Analysis by Applications, Future Demand, Top Leading Players, Emerging Trends and Forecast to 2027
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Market Overview
The market for diabetic socks is witnessing an uptick on account of thee the rising number of diabetic neuropathy cases, lifestyle changes, demand to reduce the risk of a foot injury. As per the world bank, About 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.6 million deaths are directly attributed to diabetes each year. Moreover, an estimated 1.5 million deaths were directly caused by diabetes in 2019.
As per the International Diabetes Federation, 87% of diabetes-related deaths occur in low- and middle-income countries. But only 35% of diabetes-related health expenditure is spent there. So, with the rising awareness about the treatment and prevention methods regarding the various effect of disease, the demand for diabetic socks is on the rise. However, High costs associated with diabetic socks and lack of awareness among the population are some of the factors that are likely to restrain revenue growth of the diabetic socks market over the forecast period.
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COVID-19 Impact
The COVID-19 pandemic has added an enormous toll to the existing challenge of diabetes care worldwide. Patients with diabetes are known to have an increased risk of infections, in particular skin infections, Genito-urinary tract infections, and (bacterial) respiratory tract infections. Many Covid-19 patients initially show type 1 diabetes-like symptoms: extremely high sugar levels, ketoacidosis (a complication where blood turns acidic because of excess ketones produced), and need insulin injections
The Diabetic Socks Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into
Ankle Length
Calf Length
Knee Length
The calf-length segment dominated the by-product segment and gathered --% of the Diabetic Socks Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
By Type, the market is primarily bifurcated into
Regular socks
Smart socks
The regular socks segment grabbed the major market share in 2020 dominated the by type segment. The segment gathered --% of the Diabetic Socks Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
By Distribution Channel, the market is primarily segmented into
Online
Offline
Retail Stores
Hypermarket/ Supermarket
Pharmacies
Others
Based on the Distribution Channel, the market is fragmented into Online and Offline. The offline segment accounted for the largest share and is expected to grow at --% CAGR during the forecast period 2021-2027. In 2020, the online segment generated a revenue of US$ -- million.
By Material Type, the market is primarily bifurcated into
Polyester
Cotton
Nylon
Spandex
Lycra
Others
The cotton segment grabbed --% of the Diabetic Socks Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
By Application Type, the market is primarily bifurcated into
Men
Women
The men segment grabbed --% of the Diabetic Socks Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
Diabetic Socks Market Geographical Segmentation Includes:
North America
Europe
Asia-Pacific
Rest of the World
Based on the estimation, the North America region grabbed --% market share in 2020 and gathered almost US$ -- million in revenue in 2020. The market of the region would proliferate owing to the surging end-users awareness.
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The major players targeting the market includes
3M
BSN Medical
SIGVARIS
SIMCAN
Syounaa
HangZhou Aidu Trading Co., Ltd.
Soyad Brothers LLC.
DJO, LLC
PediFix Inc.
Reflexa
Competitive Landscape
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in Diabetic Socks Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the Diabetic Socks Market?
Which factors are influencing the Diabetic Socks Market over the forecast period?
What are the global challenges, threats, and risks in Diabetic Socks Market?
Which factors are propelling and restraining the Diabetic Socks Market?
What are the demanding global regions of the Diabetic Socks Market?
What will be the global market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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