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.
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.
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