Diabetic Socks Market Scenario Highlighting Major Drivers & Trends, 2028

18/gen/2021 12:21:45 Ethan Smith Contatta l'autore

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Report Description

A recent market intelligence report that is published by Data Insights Partner on the global Diabetic Socks Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Diabetic Socks Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Diabetic Socks Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Diabetic Socks Market is offered. In accordance with the report, the global Diabetic Socks Market is projected to expand by healthy CAGR over the period of forecast.

Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:

Definition

Diabetics Socks are special medical equipment that are devised for patients suffering from diabetes. These socks help in managing and keeping accurate levels of foot moisture, lowering the probability of foot injury, and prevention of slower blood circulation. The nervous system and the circulatory systems of the patients suffering from diabetes get damaged due to excessive blood sugar level. These socks assist in the avoiding the foot problems associated with it.

Market Drivers

The growing population suffering from diabetes is driving the demand for diabetic socks. In accordance with IDF Diabetes Atlas, the number of persons suffering from diabetes is estimated to increase from 463.0 million adults to 578.4 million adults by the ending of 2030. This is providing the initial impetus to the diabetic socks market.

The soaring awareness among the consumers with regard to the use of diabetic socks as a preventative measure is fueling the growth of this market. Gone are the days of using it as a medicinal apparel, it is now employed as a modern-age medical accessory. These products aids foot contamination and foot ulcers. Given the surging cases of death due to foot ulcer and foot contamination of the diabetic patients, this market is being boosted up.

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The treatment of diabetes type 1 and type 2 is a costly affair. In accordance to the IDF Diabetes Atlas, significant portion of the diabetes patients accounting to 79.4% of total belongs from the middle- and low-income economies. The utilization of diabetic socks is used as a replacement for the costly treatment necessary for the patient’s well-being.

The activities of the government across the globe that are aimed at carving a niche for supporting the structural development of diabetic socks market is bolstering the growth of the market.

Further, the various developmental activities of the manufacturers coupled with the spawning of new entrants and start-ups to this market is positively influencing the diabetic socks market.

Market Restraints

The premium price of the diabetic socks keeps these products outside the rich of the lower- and middle- income groups which is straining the diabetic socks market.

The acute scarcity of the knowledge with regard to the availability of diabetic socks and the positive sides and benefits of utilizing them is hindering the growth of this market.

The inadequacy of a variety of reimbursement options are negatively impacting the growth prospects of the diabetic socks market.

The indulgence of the patients in alternative treatments like the intake of insulin, maintaining proper diet and daily exercising are impeding the growth of this market.

Opportunities

The rising aging population suffering from diabetes coupled with the escalating youth population suffering from diabetes is a lucrative opportunity for this market operators.

Research and development to diversify the product portfolio and seek new consumers is a good scope for this market.

Finally, the technological advancement and its application in the medical field will provide lucrative opportunity to the diabetic socks market.

Trends

The Calf-length diabetic socks segment dominates the market for diabetic socks due to the significant number of patients suffering from diabetic neuropathy and peripheral vascular diseases. The knee-length segment is expected to be the fastest growing market. North America region has a dominant share for the market of diabetic socks owing to the presence of key companies manufacturing diabetic socks and a good network for product supply. Europe is expected to be the fastest growing region in the forecast period. Such progress is attributable to the skyrocketing numbers of diabetic patients in this region, the widespread population suffering from type 1 diabetes, rapid penetration of technology in this region and recent collaboration and acquisitions in the leading company players in this region.

Segment Covered:

This market intelligence report on the global Diabetic Socks Market encompasses market segments based on product, type, material type, and country.

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           By Product the global Diabetic Socks Market has been divided into:

 

q  Ankle-Length

q  Calf-Length

q  Knee-length

 

           By Type the global Diabetic Socks Market has been divided into:

 

q  Regular Socks

q  Smart Socks

            By Material Type the global Diabetic Socks Market has been divided into:

 

q  Cotton

q  Polyester

q  Nylon

q  Spandex

q  Lycra

q  Others

 

             By country/region, the global Diabetic Socks Market has been divided into:

 

q  North America (the U.S., Canada),

q  Latin America (Brazil, Mexico, Argentina and other countries),

q  Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),

q  Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),

q  Middle East and Africa (GCC, South Africa, Israel and Other countries).

Profiling of Market Players:

This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:

q  Siren

q  Therafrim

q  BSN Medical

q  Sigvaris

q  Thorlo Inc

q  Cupron

q  Intersocks S.R.L

q  Simcan Enterprises Inc

q  Dr Scholls

q  Cresswell Socks Mill

others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Diabetic Socks Market related investment & spending and developments by major players of the market are tracked in this global report.

 

Report Highlights:

In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter's five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.

Few Recent Developments

Siren

In March 2018, a product that employs self-proprietary Neurofabric material was launched by Siren. These socks and monitoring devices were app-based that gave real-time warning for inflammation, and diabetic ulcers.

 

Therafrim

 

In February 2018, the designation of being North Carolin’s Top Rural Exporter was given to Therafrim. The products of this company are imported by more than 50 countries.

Salient Features:

Ø This study offers comprehensive yet detailed analysis of the Diabetic Socks Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year

Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market

Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook

Ø Profiling of key market players in the world Diabetic Socks Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview

Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation

Ø The world market for Diabetic Socks caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Diabetic Socks Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants

Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports

Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation

Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion

Reasons to buy:

v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Diabetic Socks Market

v Identification of key factors driving investment opportunities in the Diabetic Socks Market

v Facilitate decision-making based on strong historic and forecast data

v Position yourself to gain the maximum advantage of the industry’s growth potential

v Develop strategies based on the latest regulatory events

v Identify key partners and business development avenues

v Respond to your competitors’ business structure, strategy and prospects

v Identify key strengths and weaknesses of important market participants

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