Rockville , Jan. 15, 2024 (GLOBE NEWSWIRE) -- The global diabetic socks market is estimated to be worth US$ 184.2 million in 2024. The market is projected to grow significantly, with a 4.7% through 2034. The market is projected to surpass a valuation of US$ 292.8 million by 2034.
With the rising prevalence of diabetes worldwide, the global market is projected to expand significantly in the future years. Diabetes demands close monitoring to avoid consequences such as nerve damage, foot ulcers, and infections.
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The growing geriatric population, rising healthcare expenditures, and technological developments are all projected to fuel the global expansion of the market. The rise in diabetic foot injuries and irritation is also a crucial factor driving market expansion. These injuries can result in significant problems, including foot ulcers and amputations, which can be avoided by wearing diabetic socks. Furthermore, rising awareness of the benefits of diabetic socks among healthcare professionals and patients is fueling market growth.
High sock prices and a general lack of understanding about the benefits of diabetic socks, particularly in underdeveloped nations, are also projected to hamper the market throughout the projection period. Furthermore, the availability of counterfeit items in the market may negatively influence its growth, as it can lead to a lack of trust among customers, resulting in a decrease in sales.
However, rising diabetes prevalence, an aging population, and growing demand for non-invasive and painless therapies are projected to generate attractive market expansion potential in the future.
| Report Attribute | Details |
| Value Projection (2034) | US$ 292.8 million |
| Growth Rate (2024-2034) | 4.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
“The rising obesity rates across the world have contributed to the increase in people with diabetes. This has led to a greater need for diabetic socks, which can help prevent foot ulcers, infections, and other complications." says a Fact.MR analyst.
Key Companies Profiled in This Report
- HangZhou Aidu Trading Co., Ltd.
- Soyad Brothers LLC.
- DJO, LLC
- PediFix Inc.
- Cupron
- Thorlo Inc.
- Reflexa
- BSN Medical
- SIGVARIS
- SIMCAN
- 3M
- Syounaa
Key Takeaways from the Market Study
- The global diabetic socks market is projected to expand at a CAGR of 4.7% from 2024 to 2034.
- The North America diabetic socks market is expected to evolve at a CAGR of 4.3% from 2024 to 2034.
- The market is expected to register a CAGR of 4.3% in the United States over the forecast period.
- The diabetic socks industry in Brazil is expected to rise at a CAGR of 4.6% through 2034.
- Based on the distribution channel, the retail store segment leads the market, with an expected market share of 29.5% in 2024.
Competitive Landscape
The diabetic socks market is quite fragmented, with regional and domestic companies present. Domestic companies are likely to increase their activity in the sector. Companies with a strong brand image are estimated to gain traction. However, technology-driven startups are expected to dominate the industry.
In 2020, through its excellent design, sourcing, and marketing capabilities, THORLO, Inc., a maker of activity-specific performance socks, collaborated with Strategic Brand Growth, LLC to expand its reach to new distribution channels and products.
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Country-wise Insights:
According to the growing sales in the areas, North America and Latin America account for a sizable share of the market for diabetic socks. By 2024, North America is predicted to account for 33.2% of the global market share. From 2024 to 2034, the market is anticipated to grow at a moderate 4.3% compound annual growth rate (CAGR) in the region, with a projected market share of 31.8% at the conclusion of the forecast period.
The other region with a considerable market share is Latin America. Latin America's market share is predicted to reach 6.8% in 2024. Over the course of the forecast period, the market is anticipated to grow at a moderate rate of 5.6%, with a projected 7.4% market share in the area by the end.
Explore More Related Studies Published by Fact.MR Research:
Diabetes Diagnostics Market: According to Fact.MR, the test strips segment is forecast to witness surging demand during 2020-2030.
Diabetes Management Software Market: The global diabetes management software market is projected to reach US$ 66.26 billion by 2032.
Diabetic Neuropathy Market: The global diabetic neuropathy market is valued at US$ 4.2 billion in 2023 and is estimated to reach US$ 8 billion by the end of 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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