According to the report, this market will witness an 8% CAGR between 2017 and 2021 on account of various factors, including efforts taken by market players to make these footwear fashionable and customized. The market will also grow on account of the continuous efforts by leading companies in this market to provide customized diabetic footwear for patients. The market players are not only catering to the therapeutic needs of diabetic patients but also taking efforts to satisfy their fashion sense. Women especially are emerging as key end users for diabetic footwear.
The increasing prevalence of diabetes all across the globe is obviously an important factor fueling the growth of the diabetic footwear market worldwide. The sales of diabetic footwear is also escalating on account of effective marketing strategies by leading players. Online shopping and marketing are both playing an important role in the growing purchase of diabetic footwear by patients. Online education is helping customers to increasingly purchase these footwear. Moreover, target marketing has proven to be effective and shall continue to drive the growth prospects of the global diabetic footwear market. The improved online sales services including exchange, discounts, offers, and home delivery are also helping boost the demand and sales of diabetic footwear. In addition to this, the wide range of footwear, quick delivery, and increased convenience will help drive the sales of these footwear via the online platform.
The report discusses the competitive landscape of the diabetic footwear market. The market for diabetic footwear is extremely fragmented and is characterized by the presence of many international and local players. These players are competing with each other on the basis of market reach, pricing, and product quality. Players are increasingly focusing on product portfolio expansion and participating in mergers and acquisitions, collaborations, and partnership activities, which is increasing the competition level among players. The growing attractiveness of this market is motivating new players to enter the market. This will increase the competition with existing players. Some of the leading players within this market that are profiled in the report are: Aetrex Worldwide, Propét USA, DARCO International, Podartis, OrthoFeet, Dr. Comfort, Drew shoe, Dr. Zen, Etonic, HUSH PUPPIES, Hanger, and New Balance.
On the basis of distribution channel the diabetic footwear market is segmented into online outlet and retail outlet. Of these, it has been observed that an increasing number of consumers prefer to buy footwear from retail outlets as they enable consumers to check products thoroughly before purchase, and instant gratification of purchase. Retailers are also adopting innovative ways to boost consumer awareness and attract customers.
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By geography, the market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Of these, the growing number of elderly population will boost the North American market for diabetic footwear. The growing availability and launch of customized diabetic footwear will also help the market to flourish in this region. The presence of a large number of diabetic footwear vendors in the region along with advanced healthcare facilities are some of the other factors behind the growth of the diabetic footwear market in this region. The report also points out the fastest growing regional segment as well as the region likely to experience sluggish growth in the market. The market size of each region along with the CAGR at which they are expected to expand are also included in the report. As such, this report will help readers, potential investors, new entrants, and those established to invest correctly and smartly in the global diabetic footwear market.