Global Diabetic Socks Market-Market Overview:

The global diabetic socks market is expected to grow from USD 187.47 million in 2022 to USD 287.7 million by 2030, at a CAGR of 5.5% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising cases of diabetes and technological innovations in the healthcare sector.

A common and sometimes life-threatening disease called diabetes can damage vital organs like the heart and kidneys. Around the world, most people suffer from diabetes, and foot ulcers are more common because of high blood sugar levels and poor circulation rates. The diabetic socks market is expected to grow as smart diabetes management products, such as specialized diabetes care footwear, are emphasized. Because diabetics have sensitive feet and suffer from a variety of foot conditions, they need to protect them more than others. Additionally, patients with diabetes who suffer from neurological conditions such as nerve damage and peripheral vascular disease lose control over their legs and feet. Due to the decreased blood circulation in nerves, any sore or cut will be slower to heal and ulcers will become more likely to develop. Lightweight diabetic socks made from cotton have remarkable moisture-absorbing characteristics, making them one of the best diabetic socks. For diabetic patients, proper foot care is very important to avoid infection. Medical experts are recommending diabetic socks to help prevent foot injuries. As a result of their protection and comfort, diabetic socks are gaining popularity all over the world. Over the Projection period, high costs of diabetic socks and alternative treatment options, such as insulin, exercise, etc., are expected to restrain the growth of the market.

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Market Dynamics:

Drivers:                          

• Technological advancements

In the healthcare sector, technological advancements have boosted the growth of diabetic socks, with the introduction of smart socks. By incorporating sensors into socks, patients' lower legs, humidity, and foot joints can be scanned for signs of nerve damage that could cause infection. By improving the product, the mortality rate from foot ulcers and contamination will be reduced.

Restraints:         

• Insufficient knowledge and lack of awareness about the benefits of diabetic socks

Due to a lack of understanding of diabetic socks' benefits and usage, the diabetic socks market is facing many challenges. In spite of the fact that every detail about the product is included on the packaging of diabetic socks, along with dos and don'ts, it has been noticed that consumers are complaining about the product, which is hampering the growth of the market because consumers are looking for alternatives to diabetic socks.

Opportunities:

• Rising health concerns

As a result of the growing health concerns of the world population, spending on various healthcare products, including diabetic socks, is on the rise, which drives the market. Additionally, diabetic socks keep feet warm and dry while enhancing blood circulation, preventing injuries to the feet, and keeping them warm.

Challenges:

• Uneven pressure distribution

As a result of differences in body types, diabetic socks have not been found to work the same for everyone. Due to the tight-fitting nature of diabetic socks, it is possible that the pressure points will not be the same for every individual because of their differing body types. Additionally, diabetic socks help to keep the feet dry by absorbing moisture, but they also disrupt airflow, which can cause problems for sensitive patients.

Segmentation Analysis:

The global diabetic socks market has been segmented based on product, distribution channel, and region.

By Product

The product segment includes knee-length, ankle-length and calf-length. The calf-length segment led the largest share of the diabetic socks market with a market share of around 41.8% in 2022. The largest share of the calf-length segment was accounted for in 2021. This is due to the increased incidence of neuropathy and peripheral vascular disease, which can lead to infections and complications. Based on the National Center for Biotechnology Information (NCBI), peripheral neuropathy is estimated to affect 6 to 51% of diabetic adults in 2019 depending on the type of diabetes, the duration of diabetes glucose control, and age.

By Distribution Channel

The distribution channel segment includes e-commerce, hypermarkets, retail stores, pharmacies, and others. The hypermarket segment led the largest share of the diabetic socks market with a market share of around 38.3% in 2022. During the Projection period, the hypermarket segment is expected to grow at the fastest rate due to the increase in consumers' preference for offline shopping. The increase in consciousness regarding medical-grade products has accelerated the growth of this segment, as individuals can verify the durability and longevity of socks and the material used in manufacturing these products.

Global Diabetic Socks Market - Sales Analysis.

The sale of diabetic socks expanded at a CAGR of 4.7% from 2016 to 2022.

The growth of the diabetic socks market is also anticipated to be fueled by the increasing popularity of diabetic socks due to the fact that they are protective and non-invasive. In addition, the diabetic socks market is Projection to grow despite the cost efficiency and increased health awareness among the younger generation.

There has been a growing demand for diabetic compression socks that can provide long-term relief to the patient population since the prevalence of diabetic neuropathy has increased. Manufacturers are hoping to tap into this huge demand by introducing a wide variety of designs.

In recent years, the proliferation of home-monitoring devices has helped in the early diagnosis of diabetes, and the expansion of distribution channels has boosted the scope for commercializing diabetic socks.

Thus, owing to the aforementioned factors, the global glucose meter market is expected to grow at a CAGR of 5.5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the diabetic socks market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the diabetic socks market and held a 39.1% share of the market revenue in 2022.

• The North American region witnessed a major share. With a significantly higher revenue share, the North American market contributes to the global diabetic socks market in North America. The increasing prevalence of diabetes in the region has contributed to the growth and development of the market in the region, which is driven by a high rate of adoption of diabetic accessories. In the U.S., the growing number of diabetic patients and increased awareness about diabetic socks are boosting the growth of the market.
• Europe is anticipated to experience significant growth during the predicted period. It is expected that the region's diabetes market will grow as the number of children and adolescents (0-19 years) with type-1 diabetes rises. In addition, rapid technological development, joint ventures, and mergers and acquisitions are expected to substantially impact the market.

Global Diabetic Socks Market - Country Analysis:

• Germany

Germany's diabetic socks market size was valued at USD 16.3 million in 2022 and is expected to reach USD 25.5 million by 2030, at a CAGR of 5.8% from 2023 to 2030.

A significant share of the global market is accounted for by the German market in 2021. This market is being driven forward by growing preventive care needs, increased collaboration and funding between major companies and hospitals to increase diabetic care, and growing consumer demand for diabetes socks that are practical, efficient, novel, and eco-friendly.

• China

China’s diabetic socks market size was valued at USD 12.16 million in 2022 and is expected to reach USD 18.9 million by 2030, at a CAGR of 5.7% from 2023 to 2030.

Diabetic socks are gaining popularity in the country due to rising awareness about their use by diabetic patients. Furthermore, rising healthcare expenditures by both the public and private sectors will further propel the growth of the market in the country.

• India

India's diabetic socks market size was valued at USD 9.36 million in 2022 and is expected to reach USD 14.47 million by 2030, at a CAGR of 5.6% from 2023 to 2030.

Increasing diabetes prevalence and burden and rising disposable incomes in the country are fueling the growth of the diabetic socks market.

Key Industry Players Analysis:  

To increase their market position in the global diabetic socks market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Soyad Brothers LLC
• Syounaa
• Cupron
• Reflexa
• SIMCAN
• BSN Medical
• 3M
• Nishikaa Garments International LLP
• Therafirm
• Veba Inc
• Drew Shoe
• Colfax Corporation
• Pantherella International Group
• Siren Care
• I-Runner
• Orthofeet Inc.

Latest Development:

• In May 2021, in order to produce high-quality products in Germany, Reflexa expanded the company with two new production halls totaling .
• In June 2020, A partnership between Thorlo, Inc., the originator of activity-specific performance socks, and Strategic Brand Growth, LLC, enabled Thorlo to expand its distribution channels and introduce new products.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	5.5%
Market Size	187.47 million in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Product, By Distribution Channel, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Soyad Brothers LLC, Syounaa, Cupron, Reflexa, SIMCAN, BSN Medical, 3M, Nishikaa Garments International LLP, Therafirm, Veba Inc, Drew Shoe, Colfax Corporation, Pantherella International Group, Siren Care, I-Runner, and Orthofeet Inc.
By Product	Knee-Length Ankle-Length Calf-Length
By Distribution Channel	E-Commerce Hypermarkets Retail Stores Pharmacies Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Diabetic Socks Market by Product:

• Knee-Length
• Ankle-Length
• Calf-Length

Global Diabetic Socks Market by Distribution Channel:

• E-Commerce
• Hypermarkets
• Retail Stores
• Pharmacies
• Others

Global Diabetic Socks Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia