Diabetic Socks Market Share, Demand, Top Players, Industry Size, Future Growth By 2030
The global diabetic socks market size is rapidly gaining momentum due to increasing health consciousness. This information is published by Fortune Business Insights in its report, titled “Diabetic Socks Market, 2023-2030“. These socks were designed to reduce the risks associated with diabetes, where there are high chances of a foot injury, increased blood flow, and keeping the feet dry. The product is also antifungal, antibacterial, uses a moisture-wicking material, and has other attributes. Moreover, prediabetic people are also becoming aware of the health benefits of using diabetic socks and contributing to their sales.
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List of Key Players Profiled in the Market:
- Scholl’s Wellness Co.
- SIGVARIS GROUP
- Health Vistas
What Does the Report Contain?
The report gives an in-depth insights by experts on the current diabetic socks market. The report introduces the product and its applications while giving us insights into this product’s future. It also considers the present situation of COVID-19 and accounts for the market’s scope in the future. The report also includes recent developments and key strategies of various manufacturers of diabetic socks.
Increasing Prevalence of Diabetes to Favor Market Growth
The rising cases of diabetes across the globe are propelling the diabetes socks market growth. For example, according to the World Health Organization, around 422 million adults suffer from diabetes. Also, technological advances in the socks such as monitoring blood circulation, temperature, health score, and others give a substantial chance for this product to grow in the market. In addition to this, patients with various types of foot diseases such as bunions, plantar fasciitis, diabetic neuropathy, and others. Also, the growing expenditure on healthcare by developed countries is substantially boosting product growth.
Based on product type, the market is bifurcated into regular socks and smarts socks. By material, the market is divided into polyester, cotton, nylon, and wool. On the basis of quality, the socks are separated into low, standard, and premium. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Growing Demand for Diabetic Socks in the North America Market to Boost Sales
North America is predicted to lead the diabetes socks market share during 2021-2028. The increasing number of obese patients has contributed to the massive demand for these socks in the US and Canada. As per the National Diabetes Statistics Report 2020, around 89% of people suffering from obesity also have diabetes. The high cost of medicines has also shifted the population to look for preventive measures such as diabetic socks.
Asia Pacific is expected to experience a substantial development in the foreseeable future. This is due to the rising number of diabetes cases in this region. The International Diabetes Federation data issued on November 2019 and May 2020 the diabetes casesn various countries in this region are as follows: China- 116.45 million, India- 77 million, Bangladesh- 8.4 million, and Sri Lanka- 1.2 million.
Key Players to Focus on Innovations and Effectiveness of Diabetic Socks
The landscape spans across the different qualities, brands, price ranges, the materials used, and technological advances. New innovations have been taking place in the diabetic socks market, such as the development of smart diabetic socks.
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