(MENAFN- America News Hour) The global diabetic footwear (shoes) market has been segmented by end user into male and female, out of which, male segment is estimated to drive the demand for diabetic footwear and is expected to dominate the overall diabetic footwear market by the end of the forecast period. The global diabetic footwear (shoes) market has both online and offline distribution channels such as shoe stores, departmental stores and medical specialty stores among others.
The global market of diabetic footwear (shoes) was valued at USD 16.05 Billion in 2016 and is further estimated to reach USD 24.5 Billion by the end of 2024 by expanding at a compound annual growth rate of 8.3% over the period 2017-2024. Rising prevalence of diabetes is one of the major factors that are driving the growth of the global diabetic footwear (shoes) market. Further, the increased spending on diabetes treatment is estimated to benefit the expansion of global diabetic footwear (shoes) market with noteworthy revenue by the end of 2024.
In terms of region, North America is anticipated to flourish with significant market share in overall diabetic footwear (shoes) market between the forecast period owing to rising geriatric population and increasing cases of diabetes across the region. Further, increasing obesity levels is anticipated to drive the Europe market of diabetic footwear (shoes) with substantial rate over the forecast period. Furthermore, strengthening economic condition and increasing aging population is estimated to make Asia Pacific as the fastest growing diabetic footwear (shoes) market by the end of 2024.
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Aging Population & Rising Prevalence of Diabetes to Boost the Market Growth
The growth of the diabetic footwear (shoes) market is supplemented by the increasing demand for customized diabetic footwear owing to aging population and growing cases of diabetes across the globe.
However, lack of awareness and high cost of diabetic footwear islikely to limit the growth of theglobal diabetic footwear (shoes) market in the near future.
The report titled ' Global Diabetic Footwear (Shoes) Market Analysis & Opportunity Outlook 2024' delivers detailed overview of the global diabetic footwear (shoes) market in terms of market segmentation by distribution channel, end user, by inpatient and outpatient and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the global diabetic footwear (shoes) market which includes company profiling ofDARCO International Inc., Sigvaris, Ortho Europe, Duna Srl, Thuasne, Medline Industries, DJO Global Inc., Hong Kong Grace Shoes Development Co. Ltd., Dr. Zen Inc. and Drew Shoe Corporation USA.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diabetic footwear (shoes) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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