The global diabetic socks market size is expected to reach USD 285.2 million by 2030 according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Diabetic socks are specially developed to enhance blood circulation by offering warmth without contingency. These products come in varieties of materials, from wool to synthetic blends, each comprised of thick padding. Also, these have seamless features to decrease the chance of blistering and prevent developing ulcers, are lightweight, breathable.
The global surge in the number of diabetic patients suffering from diabetic neuropathy coupled with the growing awareness and preference of these products, rise in healthcare funding, and changing lifestyle are the key forces that stimulate the demand. Despite several positive facts, high prices concerned with digital socks and alternate treatment options, such as exercise, healthy diet, and insulin, are the topmost factors that hamper the industry growth globally.
However, the new techniques and technology integration is constantly evolving as smart products are introduced with sensors and incorporating extra padding for sensitive areas in socks to protect feet from injury, thereby creating a lucrative growth opportunity for the industry.
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With a considerable surge in the number of diabetic patients over the past decade, the industry has witnessed a higher demand. According to the International Diabetic Federation, there were around 463 million individuals (20-79 years) with diabetes in 2019, with this figure expected to rise to over 700 million by 2045. With the rising number of neuropathy conditions associated with diabetic patients, individuals shift their interest towards socks to treat severe feet infection and complications, accelerating the industry growth over the forecast period.
Market players including BSN Medical, 3M, Colfax Corporation, Cupron, Creswell Sock Mills, DJO LLC, Drew Shoe, HangZhou Aidu Trading, European Lingerie Group, Intersocks S.R.L., I-Runner, Thorlo Inc., Orthofeet Inc., Nishikaa Garments International LLP, Pantherella International Group, PediFix Inc., SIGVARIS, Reflexa, SIMCAN, Siren Care, Syounaa, Soyad Brothers LLC., Therafirm, and Veba Inc are operating in the global industry.
In March 2020, Sigvaris, a Swiss-based manufacturer of medical-related products, launched a revolutionary compression therapy device in the Coolflex product line for foot and arm. This cool flex standard calf comprises spacer fiber that creates 3D' microclimate between layers to provide air and maintain temperature control and is designed especially for edema and blood circulation improvement. Such innovation in the field of diabetes associated with neuropathy conditions augments the market's growth in the forecasting years.
Polaris Market Research has segmented the diabetic socks market report on the basis of product, distribution channel, and region:
Diabetic Socks, Product Outlook (Revenue - USD Million, 2018 - 2030)
Diabetic Socks, Distribution Channel Outlook (Revenue - USD Million, 2018 - 2030)
Diabetic Socks, Regional Outlook (Revenue - USD Million, 2018 - 2030)