Diabetic Footwear Market Is Expected To Reach US$ 9,495.01 Mn By 2025: Credence Research
The latest market report published by Credence Research, Inc. “Diabetic Footwear Market, By Distribution Channels, End Use and Geography – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global diabetic footwear market was valued at US$ 4,971.25 Mn in 2016, and is expected to each US$ 9,495.01 Mn by 2025, expanding at a CAGR of 8.0% from 2017 to 2025.
Browse the full Diabetic Footwear Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/diabetic-footwear-market
Market Insights
Diabetic footwear which are also referred as therapeutic shoes are shoes specially designed for the diabetic patients to decrease the risk of skin breakdown in diabetics along with the co-existing foot disease. The global diabetic footwear market is mainly driven by the rising prevalence of diabetes (in 21-75 years of age group) worldwide. Among the consumers, these shoes have gained fair acceptance as their comfort level is optimized when compared to normal shoes.
Apart from rising prevalence of diabetes, another factor which is driving the market growth is rise in spending on diabetes treatment. The global spending on diabetes in 2015, was more than US$ 650 bn and is projected to exceed more than US$ 800 bn by 2024. Increasing geriatric population, who often suffer from diabetic conditions is another major factor that is augmenting the demand.
However, due to lack of knowledge in terms of use of diabetic footwear (orthopedic shoes) and lack of awareness regarding proper feet care in diabetic patients are among the major obstacles that are restraining the market growth across the globe, particularly in underdeveloped and developing countries.
Competitive Insights
New and innovative product designs with greater efficacy are helping manufacturers to gain consumer loyalty and in turn driving the demand for diabetic footwear. Innovative solutions across different categories with proven benefits are expected to create true loyal customers. In addition, new packaging and product availability on various distribution channels with healthier formulations is another factor that will contribute towards the market growth.
Key Trends
– Rise in Diabetes Prevalence
– Availability of Products on Various Distribution Channels
– Commercialization of Novel and Innovative Product Designs
– Asia Pacific will drive growth
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