Global Diabetic Socks Market was valued at US$ XX Million in 2020 and is anticipated to reach US$ XX Million by 2027 displaying an elevated CAGR of XX% over the forecast period (2021-2027).
A rise in the number of obese people coupled with the surging obesity in children are some of the prominent factors resulting in the higher prevalence of diabetes. As per World Obesity Federation, The number of children and adolescents (aged 5-19 years) who are obese is predicted to rise to 254 million by 2030. About 210,000 Americans under age 20 are estimated to have diagnosed diabetes, approximately 0.25% of that population, as revealed by the American Diabetes Association.
As per the Center for Disease Control and Prevention (CDC), 34.2 million people have diabetes (10.5% of the US population) and 26.9 million people, including 26.8 million adults. Moreover, around 88 million people aged 18 years or older have prediabetes (34.5% of the adult US population) as of 2020. People with diabetes often develop nerve damage, so a small injury can easily go unnoticed and lead to an ulcer, infection, and even amputation due to lost nerve sensitivity. Therefore, the demand for diabetic socks is promulgating in the country.
Furthermore, the cost of care for people with diabetes now accounts for ?1 in 4 health care dollars spent in the U.S. Care for a person with diabetes now costs an average of US$16,752 per year. The total costs of diagnosed diabetes have risen to US$327 billion in 2017 from US$245 billion in 2012, as per American Diabetes Association. The rising cost of treatment of diabetes coupled with the other problem caused by that is a major concern, due to which end-users are more inclined towards buying diabetic socks.
3M, BSN Medicals, SIGVARIS, SIMCAN, Syounaa, HangZhou Aidu Trading Co., Ltd, Soyad Brithers LLC, DJO, LLC, PediFix, Reflexa, etc, are some of the prominent players operating in the Diabetic Socks market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
"Amongst Product, Calf length segment holds the major share"
Based on the Product, the market is fragmented into Ankle Length, Calf Length, and Knee Length. The Calf-length segment of the Global Diabetic Socks market grabbed the major market share and dominated the market. The segment captured around XX% market share and generated USD XX Mn in 2020 and is expected to grow at a CAGR of XX% during the forthcoming years
"Amongst Type, Smart Socks segment to dominate the market during the forecast period"
Based on the type, the market is mainly fragmented into Regular socks and Smart socks. The Regular socks segment grabbed XX% market share and captured US$ XX Mn in 2020. Moreover, the market of this segment is expected to proliferate with a CAGR of XX% in the forthcoming coming period of 2021-27. However, the smart socks segment is expected to witness exhibit growth in the coming years owing to the benefits it provides.
"Amongst Material Type, Cotton segment grabbed Major Market share in 2020"
Based on material type, the market is mainly fragmented into Polyester, Cotton, Nylon, Spandex,Lycra, and Others. In 2020, the cotton segment grabbed the major market share and dominated the market. The segment gathered an XX% revenue share in 2020.
"Amongst Distribution Channel, the Online segment to dominate the market during the forecast period"
Based on the Distribution Channel, the market is mainly fragmented into Online and Offline. The offline segment grabbed XX% market share and captured US$ XX Mn in 2020. Moreover, the market of this segment is expected to proliferate with a CAGR of XX% in the forthcoming coming period of 2021-27. However, the online segment is expected to witness exhibit growth in the coming years.
Amongst Application, Men segment grabbed Major Market share in 2020"
Based on Application, the market is mainly fragmented, Men and Women. In 2020, the Men segment grabbed XX% market share. The segment gathered an XX% revenue share in 2020. However, the women's segment is expected to witness an exhibit growth during the forecast period.
"North America represents one of the largest markets of Diabetic Socks market"
For a better understanding of the market dynamics of the Diabetic Socks market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated revenue of US$ XX Million in 2020 owing to the change in lifestyle and growing demand for smart wearables.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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Diabetic socks are specially designed to keep feet dry, decrease the risk of a foot injury, and enhance blood circulation. They are a key part of?foot care, which is an important aspect of diabetes management due to potential damage to the nervous and circulatory systems caused by high blood sugar levels.
Promulgating the number of diabetic people, Globally is contributing to the growth of the demand for diabetic socks. As per International Diabetes Federation, 63 million adults around the world between the ages of 18 and 79 suffer from type 2 diabetes (T2D). By 2045, this figure is set to reach 700 million people. In Europe, 60 million people are living with type 2 diabetes. This figure will rise to 68 million in 2045. But these figures do not fully reflect the significance of this condition, as around 40% of people in Europe are unaware that they have type 2 diabetes.
Moreover, According to the American Diabetes Association, approximately 50% of people with type 2 diabetes and 20% of those with type 1 diabetes have been witnessing nerve damage, along with poor blood flow. The diabetes complication puts one at risk for developing a foot ulcer (a sore or wound) that could get infected and not heal well. Diabetic socks help in prevention such mishappenings so the demand for the diabetic socks is on surge.
Based on the Product, the market is fragmented into Ankle length, Calf Length, and Knee length. The Calf length segment of the Global Diabetic Socks market grabbed the major market share and dominated the market. The segment captured around XX% market share and generated USD XX Mn in 2020 and is expected to grow at a CAGR of XX% during the forthcoming years
Based on the type, the market is fragmented into regular socks, Smart socks. The regular socks segment grabbed major market share and captured XX% market revenue in 2020. However, the smart socks segment would emerge in the forecast period and would witness the highest CAGR during the forthcoming period.
Based on the material type, the market is fragmented into Polyester, Cotton, Nylon, Spandex, Lycra, and Others. The cotton segment grabbed major market share and captured XX% market revenue in 2020. However, the other segment would emerge in the forecast period and would witness the highest CAGR during the forthcoming period as well and would reach USD XX mn by 2027
Based on the distribution channel the market is segmented into online and Offline. The offline segment grabbed XX% market share and gathered USD XX Mn in 2027. Moreover, the offline segment is expected to reach USD XX Mn by 2027 with a growth of XX% CAGR during 2021-2027. Furthermore, the offline segment is fragmented into Hypermarket/supermarkets, retail stores, pharmacies, and others. However, the online segment is expected to witness the highest CAGR during the forecast period.
Diabetic Socks has several applications such as Men and Women. The men segment generated revenue worth USD XX million in 2020 and is expected to reach USD XX million by 2027. However, the women segment is expected to witness an exhibit growth during the forecast period.
For a better understanding of the market adoption of the Diabetic Socks market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of APAC), and Rest of World. North America constitutes a major market for the Diabetic Socks industry and generated revenue of USD XX Million in 2020 owing to the increase in the demand for high-quality processed food.
Some of the major players operating in the market are ?3M, BSN Medicals, SIGVARIS, SIMCAN, Syounaa, HangZhou Aidu Trading Co., Ltd, Soyad Brithers LLC, DJO, LLC, PediFix, Reflexa, etc., Several M&As along with partnerships have been undertaken by these players to develop Diabetic Socks.
Table of Contents
1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Objective of the Study
1.3. Limitation
1.4. Stake Holders
1.5. Currency Used in Report
1.6. Scope of the Global Diabetic Socks Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Methodology for the Global Diabetic Socks Market
2.1.1. Main Objective of the Global Diabetic Socks Market
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 COVID-19 IMPACT
6 GLOBAL DIABETIC SOCKS MARKET REVENUE
7 MARKET INSIGHTS BY PRODUCT
7.1. Ankle Length
7.2. Calf Length
7.3. Knee Length
8 MARKET INSIGHTS BY TYPE
8.1. Regular Socks
8.2. Smart Socks
9 MARKET INSIGHTS BY MATERIAL TYPE
9.1. Polyester
9.2. Cotton
9.3. Nylon
9.4. Spandex
9.5. Lycra
9.6. Others
10 MARKET INSIGHTS BY DISTRIBUTED CHANNEL
10.1. Online
10.2. Offline
10.2.1. Retail Stores
10.2.2. Hypermarket/ Supermarket
10.2.3. Pharmacies
10.2.4. Others
11 MARKET INSIGHTS BY APPLICATION
11.1. Men
11.2. Women
12 MARKET INSIGHTS BY REGION
12.1. North America Diabetic Socks Market
12.1.1. The U.S
12.1.2. Canada
12.1.3. Rest of North America
12.2. Europe Diabetic Socks Market
12.2.1. Germany
12.2.2. France
12.2.3. U.K.
12.2.4. Spain
12.2.5. Italy
12.2.6. Rest of Europe
12.3. Asia Pacific Diabetic Socks Market
12.3.1. China
12.3.2. Japan
12.3.3. India
12.3.4. Australia
12.3.5. South Korea
12.3.6. Rest of Asia Pacific
12.4. Rest of the World Diabetic Socks Market
13 DIABETIC SOCKSMARKET DYNAMICS
13.1. Market Drivers
13.2. Market Challenges
13.3. Impact Analysis
14 DEMAND AND SUPPLY SIDE ANALYSIS
14.1. Demand Side Analysis
14.2. Supply Side Analysis
14.2.1. Top Product Launches
14.2.2. Top Business Partnerships
14.2.3. Top Merger & Acquisitions
15 VALUE CHAIN ANALYSIS
16 DIABETIC SOCKS MARKET OPPORTUNITIES
17 DIABETIC SOCKS MARKET TRENDS & INSIGHTS
18 COMPETITIVE SCENARIO
18.1. Porter's Five forces analysis
18.1.1. Bargaining power of Supplier
18.1.2. Bargaining power of Buyer
18.1.3. Industry Rivalry
18.1.4. Availability of Substitute
18.1.5. Threat of new Entrants
19 COMPANY PROFILED
19.1. 3M
19.1.1. Key Facts
19.1.2. Business Description
19.1.3. Key Product/Services Offerings
19.1.4. Growth Strategy
19.1.5. SWOT Analysis
19.1.6. Key Financials
19.1.6.1. Revenue Split
19.1.6.2. Financial Overview of 3M
19.1.7. Recent Developments
19.1.7.1. Product Launch
19.1.7.2. Partnerships
19.1.7.3. Business Expansion and Investments
19.1.7.4. Merger and Acquisition
19.2. BSN Medical
19.3. SIGVARIS
19.4. SIMCAN
19.5. Syounaa
19.6. HangZhou Aidu Trading Co., Ltd.
19.7. Soyad Brothers LLC.
19.8. DJO, LLC
19.9. PediFix Inc.
19.10. Reflexa
20 DISCLAIMER
3M
BSN Medicals
SIGVARIS
SIMCAN
Syounaa
HangZhou Aidu Trading Co.
Ltd
Soyad Brithers LLC
DJO
LLC
PediFix
Reflexa