Bizizz Market Research has recently published a research report, “Diabetic Socks Market By Type (Spandex, Cotton, Nylon, Polyester, Lycra and Others), End-User (male and female), By Type (Smart Socks and Regular Socks), By distribution Channel (Clinics, Online Stores, Pharmacies, Modern Trade, Retail Stores and Others), By Product (Over the Calf/ Knee High Length, Mid- Calf and Ankle Length) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Diabetic Socks Market was valued at US$ 199.94 Mn in 2018 and it is anticipated to reach at market value of US$ YY Bn by 2027, witnessing a CAGR of 3.9 % during the forecast period. Key drivers of the market are rising diabetic patients globally and increased risk of damaging foot of individuals along with other foot health problems is stimulating its growth.
The Global market of diabetic socks is plunging by an increasing rate of diabetic patients who needs such products in order to maintain their wellbeing. The diabetic socks have advanced features including non-flexible and coherent in nature that is essential to manage the foot conditions. Such benefits associated with the diabetic socks are plunging the demand for diabetic socks in the recent year and is anticipated to have a steady trend of market during the forecast period.
The Diabetic Socks market is anticipated to register a CAGR of over 3.9% during the forecast period.
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By distribution channel, offline segment held a key share in Global Diabetic Socks Market in 2018.
Globally the demand for diabetic socks is increasing through the offline mode of distribution channel encouraging the customers to have a preference for the specialized diabetic socks from the specialty stores. It could be attributed to the customer’s flexibility in procuring these diabetic socks when ever need to maintain their foot health conditions. Moreover the regulations in concern with the medical storage facilities is plunging the demand for diabetic socks through the offline distribution channel. These offline distribution channels constitutes of specialized stores that offers advanced diabetic socks products to their customers.
North America is anticipated to dominate the Global Diabetic Socks Market during the Forecast.
The North American region is accounted for leading in the diabetic patients in the global platform. Such, trends in the market are supporting the growth of Diabetic socks in the North American region. The number of dietetic patients registered in the North American region are about 1.5 Mn along in the US market. Such growth in the diabetic conditions in this market is propelling the growth of diabetic socks and would continue during the forecast period.
Global Diabetic Socks market was highly fragmented among the number of local and global players. Due to such presence of numerous organizations there is an increase in the competition among the diabetic socks manufacturers in the market.
Prominent players operating in the Global Diabetic Socks Market are: 3M Company, SIGVARIS GROUP, Therafirm, Siren Care Inc., Creswell Sock Mills, Simcan Enterprises Inc., Veba, Cupron Inc., Intersocks, Dr. Scholls, BSN Medical Ltd., and Thorlo, Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
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