The global Diabetic Footwear Market is projected to reach USD 9.65 billion by 2025, according to a new report by Million Insights. The market is expected to grow with a CAGR of 7.6% during the forecast period. These specialty footwears are designed to reduce the risk of skin breakdown and foot deformities. Further, growing obesity and its adverse effect are promoting the sale of such footwear as a preventive measure.
Among different product types, shoes are expected to hold the largest market share to reach USD 3.31 billion by 2025. The growing market share of shoes is attributed to its rising popularity among the working population. Further, increasing focus on health and the growing popularity of cardiovascular exercises are estimated to increase the demand for diabetic shoes.
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On the other hand, slippers are also expected to gain significant traction largely because of convenience associated with their use, and their availability in various types. Additionally, the introduction of new materials such as cotton, leather and others for sleepers manufacturing is further expected to bolster their demand. This segment is projected to grow with a CAGR of 8.3% during the forecast period, 2019 to 2025.
Sales of footwear products through online channels are likely to get traction in the near future. Growing online sales channels, multichannel marketing and attractive discount on online purchasing are proliferating the sales through this channel. The offline segment, on the other hand, will continue to remain popular, especially among middle and low-income countries. Rising sale of these footwear products through specialty stores and pharma shops is a key driver to the offline segment.
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Further key findings from the report suggest:
• Among different product types, sleepers are expected to hold the largest market share occupying over 30% of the total market, by 2025. The convenience associated with its use is the major factor supplementing its growth.
• Sandals are expected to grow with a CAGR of 7.3% during the forecast period. The growing use of sandals as casual footwear in western countries is driving the demand for this segment.
• The online distribution channel is expected to provide a lucrative opportunity for manufacturers over the forecast period. The emergence of various online platforms coupled with the convenience associated with online purchasing are driving the sales of diabetic footwear through this segment.
• Asia Pacific is expected to grow with the highest CAGR of over 8% during the forecast period. Growing cases of obesity and related diseases are the leading factors driving the demand for diabetic footwear in the region.
• Owing to the presence of various players, the global diabetic footwear market is fragmented in nature. Manufacturers are focusing on the introduction of innovative footwear products with versatile functionality to stay competitive in the market. The leading players in the market are Dr. Zen Products, Inc., I-Runner, and DJO Global Inc. among others.
Million Insights has segmented the global diabetic footwear market based on product, gender, distribution channel, and region:
Diabetic Footwear Product Outlook (Revenue, USD Million, 2015 – 2025)
Diabetic Footwear Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Diabetic Footwear Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
• Saudi Arabia
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