Global Diabetic Socks Market Size, Share & Trends Analysis & Forecast Report, 2016-2019 & 2020-2027 - ResearchAndMarkets.com

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The global diabetic socks market size is anticipated to reach USD 303.2 million by 2027, expanding at a CAGR of 5.5% from 2020 to 2027.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, September 17, 2020
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Tags: 
Nursing, Medical Supplies, Hospitals, Diabetes, Specialty, Managed care, Health, Retail, Online Retail, Diabetes, Diabetic sock, Socks, Diabetic neuropathy
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Summary
Key Points: 
  • The global diabetic socks market size is anticipated to reach USD 303.2 million by 2027, expanding at a CAGR of 5.5% from 2020 to 2027.
  • The growth is attributed to an increase in recommendations by doctors and medical councilors of calf-length socks to diabetic neuropathy patients.
  • Online searches for diabetic socks have increased steadily, particularly in the United States, Canada, the U.K., and Australia.
  • The increasing availability of a wide range of diabetic socks in these stores is one of the main reasons driving the segment.


The "Diabetic Socks Market Size, Share & Trends Analysis Report by Product (Ankle Length, Calf Length, Knee Length), by Distribution Channel (Hypermarkets, E-commerce), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

The global diabetic socks market size is anticipated to reach USD 303.2 million by 2027, expanding at a CAGR of 5.5% from 2020 to 2027.

The rising prevalence of diabetes worldwide is expected to fuel market growth. According to a report by the International Diabetic Federation, the number of diabetic cases is expected to increase by 25% from 463 million in 2019 to 578 million in 2030. Additionally, countries in South East Asia and the Middle East are expected to witness close to 74% and 96% increase, respectively, in the number of cases by 2045. Increasing cases of diabetes will complement the growth of the market in the coming years.

One of the market drivers is the growing need for non-invasive methodologies. Growing awareness of self-care treatments pertaining to supporting footwear, along with technical advances such as gel padding and the launch of smart socks with fiber-optic sensors, is presenting new growth opportunities for the market. For example, in June 2019, Protect iT, a Swiss brand, launched a therapeutic line and a comfort line of diabetic socks with padded layers to deliver protection to the sensitive and sore-prone areas of the feet for people with diabetes.

By product type, the calf-length socks segment held the largest share of 68.3% in 2019. The growth is attributed to an increase in recommendations by doctors and medical councilors of calf-length socks to diabetic neuropathy patients. These socks help to avoid infection in the feet and any potential damage to their circulatory and nervous systems caused by high blood sugar levels.

E-commerce is expected to emerge as the fastest-growing channel in the coming years. Online searches for diabetic socks have increased steadily, particularly in the United States, Canada, the U.K., and Australia. This bodes well for manufacturers and brands planning to set up e-commerce sites to sell products wholesale or retail or is setting up shop with one of the top auction or on-line retail sites, such as eBay, uBid, and Bidz.com. These sites already generate a large amount of traffic, which increases product visibility, thereby enhancing sales of these products through online sales channels.

Diabetic Socks Market Report Highlights

  • In terms of product type, the calf-length segment held a 68.3% share of the overall revenue in 2019.
  • Asia Pacific is expected to expand at the fastest CAGR of 5.9% from 2020 to 2027. Growing cases of diabetes are expected to drive the market in the region. China and India are among the top two countries witnessing the largest number of diabetic cases across the globe.
  • By distribution channel, the hypermarket segment held the largest share in 2019 and is expected to retain its pole position throughout the forecast period. The increasing availability of a wide range of diabetic socks in these stores is one of the main reasons driving the segment.
  • Companies with a strong brand image will build traction and new companies who leverage technology will continue to enjoy a greater portion of the marketplace.

Companies Mentioned

  • BSN medical
  • SIGVARIS.
  • SIMCAN
  • 3M.
  • Syounaa
  • HangZhou Aidu Trading Co. Ltd.
  • Soyad Brothers LLC
  • PediFix Inc.
  • Thorlo Inc
  • Reflexa

For more information about this report visit https://www.researchandmarkets.com/r/gqqbb0

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