Diabetic Socks Market Predicted To Value US$ 192.8 Mn By 2025

Posted by Vinay on November 6th, 2017

According to the latest market report published by Persistence Market Research titled ‘Diabetic Socks Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025,’ the global diabetic socks market is expected to expand at a CAGR of approximately 4.8% during the forecast period 2017-2025.

Global Diabetic Socks Market: Factors Impacting the Market

The primary factors driving the growth of the global diabetic socks market are increasing prevalence of diabetic neuropathy, government focus on creating awareness on diabetes cure, increasing global healthcare spending, rising demand for diabetic socks due to the increase in the prevalence of diabetes across the globe, and changes in lifestyle that increase the probability of genomic mutations. However, higher costs associated with diabetic socks and lack of awareness among people are some of the factors that will restrict revenue growth of the diabetic socks market over the forecast period.

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.

On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America is estimated to dominate the global diabetic socks market with maximum value share of the overall market recorded in 2016. The North America diabetic socks market is expected to register a CAGR of more than 4% over the forecast period to reach a market value of US$ 60.7 Mn by 2025 end.

Global Diabetic Socks Market: Vendor Ecosystem

Some of the 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. Companies are focusing on collaborating with established research centers to develop new products. The report also identifies company-specific strategies related to product development, market consolidation initiatives and analysis of companies’ specific strengths, weaknesses, opportunities and threats.

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