Global Diabetic Socks Market Expected to Touch a Value of US$ 192.8 Mn by 2025

Posted on 2018-02-13 by Mark Hub in Pharmaceuticals // 0 Comments

Albany, USA, 2018-Feb-13 — /EPR Network/ —New research report offers a comprehensive analysis of the “Global Market Study on Diabetic Socks: Polyester Anticipated to be the Second Largest Material Type Segment in Terms of Value During 2017 – 2025“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Diabetic socks are specially designed socks for patients with diabetes so as to prevent the chances for blistering. These socks are designed for controlling moisture, prevent blistering on the skin surface, and minimizing moisture accumulation. Basically their main function is to protect the feet and provide maximum support. Diabetic socks are cushioned with extra padding in order to prevent foot ulcers. These socks are typically non-elastic and seamless. Diabetic socks are an important preventive tool for people who have diabetes because they work to protect the feet from potential injuries. Smart socks is the newest development in diabetic socks. Smart socks utilize fiber optic sensors to monitor pressure, moisture and foot joint ankles to warn of the potential development of ulcers in parts with nerve damage. Smart diabetic socks can greatly reduce the amount of amputations and death due to foot ulcers and infections.

Market Value and Forecast

The global diabetic socks market – forecasted to be worth US$ 192.8 Mn by 2025 end – is expected to increase at a CAGR of above 4% throughout the forecast period. North America is the largest regional market that was valued at US$ 42.3 Mn in 2016 and is expected to grow at a CAGR of above 3.8% during the forecast period.

Market Dynamics

The primary factors driving the growth of the global diabetic socks market revenue are increasing prevalence of diabetic neuropathy across the globe, changes in lifestyle, and rising demand for new technologies. The global market does have its share of challenges. High costs associated with diabetic socks and lack of awareness among the population are some of the factors that are likely to restrain revenue growth of the diabetic socks market over the forecast period.

Market Segmentation by Product Type

Based on product type, the market has been segmented into

Regular socks
Smart socks

By product type, the regular socks segment is expected to gain more than 40% of market share in terms of revenue in the global diabetic socks market during the forecast period.

Market Segmentation by Material Type

Based on material type, the market has been segmented into

Polyester
Cotton
Nylon
Spandex
Lycra
Others

The others segment is expected to gain maximum share in terms of value due to the material properties like moisture wicking, sag resistance, use of natural organic material, etc.

Market Segmentation by Distribution Channel

Based on distribution channel, the market has been segmented into

Retail Stores
Online Stores
Modern Trade
Pharmacies
Clinics
Other healthcare facilities

The online stores segment is expected to gain maximum share in terms of value during the forecast period. Products in the diabetic socks market are exclusively available in online stores.

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Market Segmentation by Region

Based on region, the market has been segmented into

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

In terms of value, North America is the largest market and is expected to increase at over 4% CAGR during the forecast period. Europe is the second largest market and is anticipated to grow at above 3.5% CAGR over the forecast period.

Key Players

Some key players in the global diabetic socks market across the value chain are BSN Medical, Therafirm, SIGVARIS, SIMCAN ENTERPRISES INC, 3M, Veba Inc.,Siren care, Intersocks S.R.L, THORLO, Inc, Cupron and Cresswell Socks Mill. Acquisitions and collaborations are the key strategies adopted by market players to develop better products in the global diabetic socks market.

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