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Rise in the Spending on Diabetes Treatment to Foster the Growth of Diabetic Footwear (Shoes) Market in Future, according to Research Nester
The global diabetic footwear (shoes) market is segmented into demography such as male diabetic footwear and female diabetic footwear. Among these segments, male diabetic segment is expected to occupy top position in overall diabetic footwear (shoes) market during the forecast period. As per World Health Organization, the total number of male diabetic population is higher than that of female diabetic population. This factor is expected to augment the demand for male diabetic footwear (shoes) during the forecast period.
Global diabetic footwear (shoes) market is expected to flourish at a CAGR of 8.27% over the forecast period. Moreover, the global diabetic footwear (shoes) market is anticipated to garner USD 24,238 Million by the end of 2021. Rising prevalence of diabetes, increasing demand for customized diabetic footwear and rising spending on diabetic treatment are some of the major factors behind the growth of diabetic footwear (shoes) market.
Asia Pacific dominated the overall market of diabetic footwear (shoes) and is expected to continue its dominance over the forecast period.
Further, high prevalence of diabetes in India and China is anticipated to impel the growth of the diabetic footwear (shoes) market in Asia Pacific region. North America diabetic footwear (shoes) market is anticipated to flourish at a CAGR of 5.93% during the forecast period. According to Center for Disease Control and Prevention, number of diabetic patients rises from 5.5 million in 1982 to 22.0 million in 2014.
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Rise in the Prevalence of Diabetes in the World
Continuous rise in the prevalence of diabetes across the globe is anticipated to impel the demand for diabetic footwear (shoes) during the forecast period. For instance, the global incidence of diabetes among adults rose to 9.2% in 2014 from 6.6% in 2010.
Increase in the Spending on Diabetes Treatment
Rise in the spending of diabetes treatment is expected to supplement the growth of diabetic footwear (shoes) market. Furthermore, most of the countries have expanded their diabetic budget spending. For instance, National Health Services of U.K. has planned a 17.2% expansion of its budget for diabetes cure by the end of 2035. Although, high cost of diabetic shoes and lack of awareness is likely to inhibit the growth of the Global Diabetic Footwear (shoes) Market in the near future.
The report titled “Global Diabetic Footwear (Shoes) Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global diabetic footwear (shoes) market in terms of market segmentation by demography, by inpatient and outpatient, by retail distribution and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global diabetic footwear (shoes) market which includes company profiling of DARCO International Inc., Sigvaris, Ortho Europe, Duna Srl, Thuasne, Medline Industries, DJO Global Inc., Hong Kong Grace Shoes Development Co Ltd., Dr. Zen Inc., Supad, Drew Shoe Corporation USA, Podartis Srl and Aetrex Worldwide, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diabetic footwear (shoes) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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Research Nester is a leading service provider for strategic market research and consulting, serving clients from 120+ countries across the globe. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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