Press release
Diabetic Socks Market Key Drivers, Market Research, and Insights for the US$ 268.2 Mn Market 2022-2031
Diabetic Socks Market
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Key Players and Market Developments
The global diabetic socks market is consolidated, with a few large-scale vendors controlling majority of the share. Most of the firms are investing significantly in comprehensive R&D activities to develop environment-friendly products. Expansion of product portfolios and mergers & acquisitions are major strategies adopted by key players. BSN Medical GmbH, Therafirm, Sigvaris Group, Simcan Enterprises Inc., Siren, Intersocks S.R.L., Thorlo Inc., Cupron, Inc., Cresswell Sock Mills, and Scholl's Wellness Co. are prominent entities operating in this market.
Market Overview:
The diabetic socks market, valued at US$ 154 Mn in 2021, is projected to witness robust growth, reaching US$ 268.2 Mn by 2031 at a CAGR of 5.9%. The surge in prevalence of diabetes coupled with heightened awareness regarding its management fuels the market growth. These socks, designed to enhance blood circulation, maintain foot hygiene, and prevent foot injuries, cater to the specific needs of diabetic individuals.
Driving Factors:
Prevalence of Diabetes: Urbanization, sedentary lifestyles, and dietary shifts have contributed to the global rise in diabetes cases, necessitating specialized foot care solutions.
Awareness Programs: Initiatives by organizations like the WHO, such as the Global Diabetes Compact, have augmented awareness about diabetes prevention and management, consequently boosting demand for diabetic socks.
Technological Advancements: Companies investing in R&D to develop innovative socks with enhanced features tailored to diabetic needs are expanding their revenue streams and market share.
Market Segmentation:
Material Type: Diabetic socks are manufactured using materials like polyester, cotton, nylon, spandex, and others. Cotton socks, owing to their moisture-absorbing ability and comfort, dominated the market in 2021 and are expected to maintain their position.
Distribution Channels: The market is segmented into online and offline channels. While the offline segment currently holds a major share, the online segment is poised for significant growth, driven by the rapid expansion of the e-commerce sector.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=49947<ype=S
Regional Outlook:
Asia Pacific: Dominating the market in 2021, Asia Pacific is projected to witness the fastest CAGR during the forecast period. High prevalence of diabetes and rising disposable income are key drivers in the region.
North America: The region is anticipated to experience substantial growth, attributed to increasing awareness regarding diabetes management.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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