The diabetic socks market was valued at USD 126.5 million in 2021 and is expected to reach USD 154.6 million by 2026, growing at a CAGR of 3.4% during the forecast period 2022 – 2027.
The global diabetic socks market is predicted to expand in revenue because to the growing incidence of diabetic neuropathy, lifestyle modifications, and rising demand for innovative technologies. The increasing health concern of the global population, which has resulted in an increase in expenditure on different health care items, such as diabetic socks, is a driving factor for market expansion. Diabetic socks are also becoming more popular than conventional socks because they improve blood circulation, reduce the incidence of foot injuries, and keep the feet dry and warm. A rise in health-consciousness amongst some of the younger population will help the diabetic socks market grow in the next years, in addition to cost-effectiveness.
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The rapid advancement of technology will have a substantial influence on market growth. Furthermore, major competitors in the industry are putting sensors in socks that allow users to monitor their feet’s temperature and communicate it to their cell phones via a specialized app. This, in turn, is expected to have a favorable impact on the global sales of smart diabetic socks. In addition, the widespread use of non-invasive techniques is projected to propel the industry forward. Increased knowledge of self-care therapies for supportive footwear, as well as technological advancements such as gel cushioning and the introduction of smart socks with fiber-optic sensors, are creating new market prospects. These factors are contributing in the increase in consumption of Diabetic socks with in processed various industries, resulting in propelling the global Diabetic socks ahead, resulting in the market having the highest global Diabetic socks Market share.
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Segmentation Analysis:
The global Diabetic socks Market segmentation includes:
Diabetic Socks Market, By Type
- Ankle Length
- Calf Length
- Knee Length
Based on type, The Global Diabetic Socks Market is divided into three types which are, ankle-length, calf-length, and knee-length. The diabetic socks market is led by the calf-length category, which is expected to develop at the fastest CAGR during the projected period. Because the calf-length provides superior leg covering and optimal comfort and support, it is often used. The fastest-growing part is the knee-length segment. When there is a lack of blood circulation, these socks are preferable, and they are designed to regulate moisture to limit the risk of fungal infection, or they are cushioned to avoid foot ulcers.
By Material
- Cotton
- Polyester
- Nylon
- Wool
Based on Material, the global diabetic socks market is divided into Cotton, Polyester, Nylon, and Wool. Cotton segment is said to be the dominant one in the global diabetic socks market. Due to its multiple advantages like, Cotton socks are quite quick to dry. Cotton, in particular, dries faster than any other material. Cotton is a very absorbent and lightweight fiber that is excellent for everyday usage in socks. On your feet, the right blend of cotton will feel delightfully soft. Cotton may not retain the color as well as polyester, but it is still a long-lasting fabric. As a consequence, even after several uses, your cotton socks will remain protected.
Diabetic Socks Market, By Distribution Channel
- Hypermarkets
- Pharmacy & Drug stores
- E-commerce
- Others
Based on Distribution Channel, The Global Diabetic Socks Market is divided into hypermarkets, pharmacies & drug stores, e-commerce, and others. The most money is generated by hypermarkets. People prefer to purchase these items from pharmacies and drug stores, as well as hypermarkets. One of the key reasons for the segment’s rise is that people have grown more concerned about product quality. Over the projected period, the e-commerce channel is expected to grow at the quickest rate. E-commerce channels will acquire market share in the next years as internet usage rises, particularly in North America, Europe, and Asia-Pacific.
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Regional Analysis:
- North American region holds the most immense amount of market share within the worldwide Diabetic socks market, thanks to the key companies which are in usage. The presence of the increase in the standard of living and growth in disposable income in the region and all commercial and industrial divisions, within the North American region, can be a boon for the market in these areas. The expansion and development during this region are being held by the countries a touch just like the U.S., Canada, and México.
- The Asia Pacific holds the foremost important amount of share within the worldwide Diabetic socks market. because of the countries that are helping in the growth of the market are India, China, Japan, Malaysia, Singapore, and plenty of other APAC region countries which are expected to witness considerable expansion within the Diabetic socks market.
- The Europe region holds the second-largest share of the worldwide Diabetic socks market. The country’s Diabetic socks business will like rising consumption levels, yet as European customers increased purchasing of this resource. The growing demand to supply the next experience is broadening the market. Netherlands, Italy, Germany, France, the UK, and many other European countries are said to account for the bulk of the market share in Europe.
- The Middle East and Africa
- Latin America
Latest Industry Developments:
18th November 2019: Korean pharmaceutical business Handok Pharmaceuticals and fashion socks brand I Hate Monday has worked to create and promote new diabetic socks.
11th October 2019: For a total enterprise value of approximately $6.7 billion, 3M has completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide from a consortium consisting of funds advised by Apax Partners, as well as controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments).
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