Rising Diabetic Patient Numbers Propel Diabetic Footwear Market to $7.83 Billion in 2023

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Aug 18, 2023, 14:00 ET

DUBLIN, Aug. 18, 2023 /PRNewswire/ -- The "Diabetic Footwear Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global diabetic footwear market has experienced significant growth, driven by key players including Podartis Srl, DJO Global Inc., Aetrex Worldwide Inc., and others.

According to the latest market report, the diabetic footwear market reached $7.83 billion in 2023, compared to $7.1 billion in 2022, with a compound annual growth rate (CAGR) of 10.2%.

The ongoing Russia-Ukraine conflict has impacted global economic recovery efforts post-COVID-19. Economic sanctions, supply chain disruptions, and inflation have affected markets worldwide. Despite these challenges, the diabetic footwear market is projected to grow to $10.67 billion by 2027, with a CAGR of 8.1%.

Diabetic footwear includes in-depth shoes, healing shoes, and custom-made shoes. It provides therapeutic benefits for individuals with diabetes, offering special protective inserts and soft materials to promote blood circulation and nerve sensation. The market is expected to grow due to the rising number of diabetic patients globally.

North America was the largest region in the diabetic footwear market in 2022, with coverage also including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa. The market offers various types of diabetic footwear, distributed through channels like online platforms, specialty stores, and more, catering to men and women.

The increasing prevalence of diabetes has driven the adoption of diabetic footwear. Proper foot care is crucial to prevent complications. The International Diabetes Federation reported a rise in global diabetes cases, from 463 million in 2019 to 537 million in 2021. Projections suggest the diabetic population could reach 643 million by 2030 and 783 million by 2045.

Technological advancements are a trend in the market. Companies like Von Wellx have introduced diabetic footwear based on reflex zones technology. Acquisitions, such as Aiglon Capital and Merit Capital's acquisition of Propet, are reshaping the market and opening new opportunities for brand expansion.

The diabetic footwear market report covers various regions including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

In conclusion, the global diabetic footwear market's growth, driven by key players and the increasing diabetic population, underscores its importance. The market report provides insights for stakeholders to align with trends and cater to consumer needs.

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A selection of companies mentioned in this report includes

Podartis Srl
DJO Global Inc.
Aetrex Worldwide Inc.
Dr. Zen Products Inc
Orthofeet Inc.
Dr. Comfort llc
Drew Shoes
New Balance Inc.
I-Runner
Finn Comfort
Pilgrim shoes
Diabetic Soles Inc.
Hanger Inc.
Hush Puppies Retail Inc

For more information about this report visit https://www.researchandmarkets.com/r/2eqt88

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