Diabetic Socks Market Size 2018 At More Than High CAGR By 2028 | TechSci Research

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According to TechSci Research report, “Diabetic Socks Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The diabetic socks market is witnessing robust growth due to the rising number of diabetic cases globally is leading to various deteriorating health issues such as ulcers, poor circulation of blood. Thus, diabetic socks are developed in such a manner that they reduce the risk of foot injury, increase blood circulation, and reduces the probability of ulcers.

As per the data provided by International Diabetes Federation, diabetes caused 6.7 million deaths in 2021. Additionally, over the past 15 years, the cost of treating diabetes has increased by 316%, to at least USD 966 billion and 541 million are at risk of developing type 2 diabetes.

As the issue of diabetes can’t be controlled in a certain manner, various companies are innovating products to reduce the side-effects of diabetes. As diabetes mainly effects the foot, which results into ulcers and amputation of the foot, people prefer to use diabetic socks and as the cases of diabetes are rising, the demand of diabetic socks is projected to rise during the forecast period.

Since choosing the appropriate socks is essential for healthy foot care, which includes preventing difficulties related to diabetes and diabetic neuropathy, diabetic socks are made specifically for people with diabetes. Diabetics who wear socks can protect their feet from pressure and help avoid the development of ulcers, as these socks provides cushion to the feet that reduce friction to prevent the individual from blisters and ulcers. These socks are seamless, well-padded, snug-fitting, and non-restrictive, and they are made from premium materials that are excellent at absorbing moisture. Additionally, diabetic compression stockings can help reduce edema and keep feet and legs healthy.

The North America region dominated the global diabetic socks market as the number of diabetic cases are increasing and in the United States, diabetes is the main factor for non-traumatic amputations. In general, 5% of diabetes mellitus patients experience foot ulcers, and 1% require an amputation. Moreover, the rising expenditure on health-related products in North American countries is significantly driving the demand of diabetic socks in the region.

Additionally, the European region is expected to dominate the global diabetic market during the forecast period as the number of diabetic cases are increasing in the region. As per the data provided by Diabetes UK Association, In United Kingdom, more than 4.9 million are affected with diabetes and 13.6 million people are at the risk of having type 2 diabetes in 2021. Thus, it will drive the demand of diabetic socks in the region.

Due to the presence of both domestic and regional competitors, the market for diabetic socks is highly fragmented. The market is expected to see a flurry of activity from regional producers. Companies with a strong brand image will gain ground and emerging businesses utilizing technology will continue to dominate the market share.

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The global diabetic socks are segmented into hypermarkets, pharmacy & drug stores, e-commerce, and others. Owing to increased sales, hypermarkets accounted for the greatest revenue share. Distribution channel trends show that consumers are becoming more inclined to purchase goods from offline retailers like pharmacies and drugstore hypermarkets. People prefer to purchase these goods from retailers so they can inspect the socks' quality and durability firsthand. One of the primary factors driving the growth of the medical-grade product market is that consumers are becoming more aware of the quality of such items.

Moreover, over the forecast period, the e-commerce channel is expected to develop at the fastest rate. In the upcoming years, market dynamics are expected to shift due to the global expansion of the e-commerce sector. With a surge in shipments of diabetic socks bought through online distribution channels, consumers are demonstrating a shift in their shopping habits, especially in developed regions such as North America and Europe.

Key market players in the global diabetic socks market include:

• BSN Medical, Ltd.
•  HangZhou Aidu Trading Co., Ltd.
• Simcan Enterprises Inc.
• Intersocks S.R.L.
• Thorlo, Inc.
• Creswell Sock Mills LLC, Veba Inc.
• PediFix, Inc.
• Lifestyle Medical Group LLC.
• Walgreen Co.

Many companies have introduced technologically sophisticated items to draw customers in order to gain a sizable market share in the diabetic socks market. The development of smart socks technology is one of the most significant emerging trends in diabetic socks worldwide. Some diabetic socks have embedded sensors that measure the foot temperature and provide alerts to an app. They have a dime-sized battery that is located on the outside of the sock, near the ankle. These socks typically last around six months. For instance, Siren Care, Inc. launched the smart diabetic socks developed with neurofabric material with embedded microsensors which provides consumer a better monitoring of their foot.

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"The rising diabetic cases and foot related issues, increasing consumers awareness about the benefits of diabetic socks and increasing government initiatives to curb diabetes in different countries will influence the demand of global diabetic socks market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Diabetic Socks Market By Product Type (Ankle Length, Calf Length, Knee Length), By Material Used (Polyester, Cotton, Wool, Nylon, Others (Spandex, Bamboo)) By Sales Channel (Hypermarkets, Pharmacy & drug Stores, E-Commerce and Others (Distributors, Dealers, etc.)), By Region, Competition, Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of diabetic socks market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in diabetic socks globally.

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