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Diabetic Socks Market Share, Size, Trends, Industry Analysis Report, By Product (Ankle Length, Calf length, Knee length), By Distribution Channel (Hypermarkets, Pharmacy & Drug stores, E-commerce, Others), By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jan 2022
  • Pages: 115
  • Format: PDF
  • Report ID: PM2161
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global diabetic socks market was valued at USD 177.7 million in 2021 and is expected to grow at a CAGR of 5.4% during the forecast period. The rise in the number of diabetic patients along with diabetic neuropathy cases around the world and increasing awareness regarding the benefits of diabetic socks, rise in healthcare spending, changing lifestyle are some of the key factors that accelerate the demand of the global industry.

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Diabetic socks are designed to keep the feet dry, enhance blood flow, and decrease the risk of a foot injury. People with diabetes have sensitive feet and undergo several foot conditions; thus, they need to protect their feet more than others. Further, patients with diabetes suffering from neurological conditions such as nerve damage and peripheral vascular disease lose feel in legs and feet owing to the decrease in blood circulation in nerves which further slows down the healing of any sores or cut and thus increases the chances of developing ulcers.

Moreover, the outbreak of COVID-19 has negatively impacted the industry growth because of the lockdown imposed in various countries and the shutdown in manufacturing and supply chain operations. Also, consumer demand reduced during lockdowns as individuals focused more on cutting down non-essential expenses owing to the economic status affected by this outbreak. However, as many countries' governments begin to lift these imposed lockdowns with few restrictions, thus the global diabetic socks market is expected to rise accordingly.

Diabetic Socks Market 2030

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Industry Dynamics

Growth Drivers
An increasing number of diabetics' patients globally, owing to rapid urbanization, nutrition transition, and growing sedentary lifestyles, is expected to drive the diabetic socks market growth. According to the Centers for Disease Control and Prevention, in the U.S., there were around 26.9 million people diagnosed with diabetes, with 26.8 million of them being adults. In addition, the advent of many government initiatives aimed at reducing the diabetic burden is fueling industry growth. For example, the Indian Medical Association (IMA) conducted screening camps and mass awareness programs to raise awareness about the disease.

Furthermore, technological advancement in the healthcare sector boosts the diabetic socks market growth as the introduction of smart socks in the range of the product. Socks are fitted with sensors to scan the lower legs of the patient, humidity, and foot joints to be aware of any infection caused due to nerve damage. Therefore, the advancement in the product will reduce the mortality rate occurring due to foot ulcers and contamination.

Report Segmentation

The market is primarily segmented on the basis of product, distribution channel, and region.

By Product

By Distribution Channel

By Region

  • Ankle Length
  • Calf length
  • Knee-length
  • Hypermarkets
  • Pharmacy & Drug stores
  • E-commerce
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Product

Calf-length segment accounted for the largest share in 2021, owing to the rising number of people with diabetes suffering from neuropathy and peripheral vascular disease, which further causes severe infections and complications. According to the National Center for Biotechnology Information (NCBI), in 2019, the widespread presence of peripheral neuropathy is estimated to be between 6 to 51% among adults with diabetes depending on age, duration of diabetes glucose control, and type of diabetes 1 and type 2.

Additionally, the rising product launches to treat severe foot infections and complications are also driving the demand for the product, thereby augmenting the diabetic socks market growth. For instance, Dr. Comfort launched over-the-calf diabetic socks to help relieve aches and foot problems such as edema, sensitive feet, neuropathy, and others. This is seamless; moisture-absorber over-the-calf sock helps prevent skin itching, sores, and pains all day long. Therefore, such initiatives are expected to create significant growth opportunities for the segment’s growth.

Insight by Distribution channel

Hypermarket segment is expected to witness the highest CAGR during the forecast period owing to the rise in consumer shift towards buying products from offline stores. In this way, individuals can check the durability and longevity of the socks and verify the material used to manufacture these products due to increased consciousness regarding medical-grade products, thus accelerating the growth of the segment.

However, the e-commerce channel is expected to register the fastest CAGR  over the forecasted period, owing to the shift in purchase patterns through online platforms. Major players have collaborated with online distribution networks, like Amazon, Walmart, eBay, and others to increase worldwide sales. For instance: Dr. Comfort raises awareness about foot care in diabetic patients through online retailers.

Geographic Overview

North America is projected to hold the highest revenue share globally. According to the Centers for Disease Control and Prevention, around 34.2 million individuals were impacted by diabetes in the U.S., about 10.5% of the whole population, in 2018. Further, the presence of major market players of diabetic socks and robust expert networks across the globe is increasing the market demand.

For instance: in June 2020, THORLO, Inc., the originator of activity-specific performance socks, partnered with Strategic Brand Growth, LLC, to expand the brand outstretch to several distribution channels and new products through its magnificent design, sourcing, and marketing capabilities. Europe is anticipated to witness substantial growth due to the presence of the diabetic population. For instance, in May 2021, Reflexa expanded the company space by two new production halls with a total of 2,700 m² to produce high-quality products in Germany.

Competitive Insights

The market players operating in the global market include 3M, BSN Medical, Colfax Corporation, Creswell Sock Mills, Cupron, DJO LLC, Drew Shoe, European Lingerie Group, HangZhou Aidu Trading, Intersocks S.R.L., I-Runner, Nishikaa Garments International LLP, Orthofeet Inc., Pantherella International Group, PediFix Inc., Reflexa, SIGVARIS, SIMCAN, Siren Care, Soyad Brothers LLC., Syounaa, Therafirm, Thorlo Inc., and Veba Inc.

Diabetic Socks Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 177.7 million

Revenue forecast in 2029

USD 285.2 million

CAGR

5.4% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Product, By Distribution Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

3M, BSN Medical, Colfax Corporation, Creswell Sock Mills, Cupron, DJO LLC, Drew Shoe, European Lingerie Group, HangZhou Aidu Trading, Intersocks S.R.L., I-Runner, Nishikaa Garments International LLP, Orthofeet Inc., Pantherella International Group, PediFix Inc., Reflexa, SIGVARIS, SIMCAN, Siren Care, Soyad Brothers LLC., Syounaa, Therafirm, Thorlo Inc., and Veba Inc

 

Key Take-Away
Polaris Market Research
Diabetic Socks Market Size Global Report, 2022 - 2030