USD 177.7 million
Diabetic Socks Market Size, Share, Growth Analysis, By Product Type(Bamboo, copper, wool, acrylic), By Distribution Channel(E-Commerce, retail stores, and hospital pharmacies), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2210 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
75
Diabetic Socks Market Insights
Diabetic Socks Market size was valued at USD 177.7 million in 2019 and is poised to grow from USD 187.3 million in 2023 to USD 285.27 million by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
Diabetes is becoming more common all around the world. According to the International Diabetes Foundation, 1.5 million new instances of diabetes are diagnosed in the United States each year, and 537 million persons (20-79 years old) were diagnosed with diabetes in 2019. By 2030, there will be 643 million diabetics globally, and by 2031, there will be 783 million. The Centers for Disease Control and Prevention have made the 2022 National Diabetes Statistics Report public (CDC). According to this report, there are approximately 130 million people in the United States who have diabetes or prediabetes. Diabetes can cause a variety of health problems, including brain or heart disease, kidney illness, neuropathy (nervous system abnormalities), retinopathy, and other eye problems. However, one of the most common and early symptoms among diabetes patients is an increase in skin problems. Because of delayed healing and reduced immunity, the feet of most diabetics become a particularly sore spot. Also, diabetes-related foot ulcers are a common problem that necessitates close monitoring and medical intervention. Diabetic foot ulcers cause more hospitalizations than any other diabetes complication. Diabetes is currently the leading cause of non-traumatic amputations in the United States. Approximately 5% of diabetic people develop foot ulcers, and 1% requires amputation. Additionally, it may cause nerve damage, leading patients to lose sensation in their toes or other portions of their feet. Neglected foot ulcers and open sores can develop infected and, in extreme cases, need an amputation. As a result, diabetic patients who have foot problems such as diabetic foot ulcers, changes in foot color or temperature, irritation, nerve damage, blisters, fungal infections, frequently damp or moist feet, and decreased pedal pulse would benefit from wearing only diabetic socks, which is expected to drive demand for these socks among such patients and is an important component driving market revenue growth.
Diabetic socks are made specifically for persons with diabetes since good foot care is critical, which includes choosing the right socks to prevent diabetes and diabetic neuropathy. Diabetics can use socks to protect their feet from pressure and avoid ulcers, whereas diabetic socks, which cushion the feet and reduce friction, can help prevent blisters and ulcers. These socks have padding as well as a variety of stitch patterns, yarns, and fibers to protect fragile feet. These socks are made of premium materials that are highly absorbent, seamless, well-padded, close-fitting, and non-restrictive. Furthermore, diabetic compression stockings might help to reduce edema and keep your legs and feet healthy. They have a nylon exterior to reduce friction while walking and the risk of a foot injury. Since a study published in the Journal of Diabetes Science and Technology revealed that socks with a little compression might reduce edema without exacerbating poor circulation, that level of accuracy is used to create these extraordinary socks.
Diabetic socks are designed with a variety of features to directly address foot problems associated with the condition, which is associated with rising customer preference for these socks, driving market revenue growth. The primary function of these socks is to protect the feet from damage and to reduce skin inflammation. Some are made from delicately textured materials such as wool and bamboo, which have built-in antibacterial properties and will not irritate the skin, whereas others are made with copper- or silver-infused yarn, which has been found to have anti-fungal qualities, preventing bacteria and fungi growth. Some companies, such as Dr. Scholl's, manufacture diabetic socks made of a special blister-guard yarn meant to reduce friction that could cause blisters. The antibacterial properties of the wool, bamboo, and charcoal used to make diabetic socks make them even more useful. These are some of the most important reasons driving market revenue growth.
US Diabetic Socks Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
E-Commerce
Fastest Growth
E-Commerce
Growth Rate
5.4% CAGR
Global Diabetic Socks Market ($ Mn)
Country Share for North America Region (%)
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Diabetic Socks Market Segmental Analysis
Global diabetic socks market is segmented on the basis of material, product type, distribution channel and region. By product type, the market is segmented into bamboo, copper, wool, acrylic, and others. By distribution channel, market is segmented into E-Commerce, retail stores, and hospital pharmacies. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Diabetic Socks Market Analysis by Product Type
In 2021, the bamboo sector contributed the most revenue. Bamboo's exceptional features, which include being breathable, cool, soft, quick to absorb water, and antimicrobial, promote the construction of good products when mixed with other materials. Bamboo's natural antibacterial characteristics prevent bacteria from forming on the foot, thus no pesticide is required. It is a big benefit for diabetics who have difficulty recovering from infections since these yarns will not scrape on the skin and can reduce friction, which causes blisters. They combat bacteria naturally, are hypoallergenic, regulate body temperature, and wick moisture away from the foot to keep them dry and fresh. Bamboo plants are carbon-neutral, self-regenerating, fast-growing, and water-efficient, making them environmentally friendly. Furthermore, bamboo threads are frequently combined with other performance-enhancing materials, such as polyamide (nylon), which is added for increased durability, and elastin, which is used for added elasticity and comfort, to create bamboo diabetic socks. These are important aspects driving this segment's growth.
In 2021, the copper segment generated significant revenue. Copper-infused socks also prevent athlete's foot from spreading when worn again, as well as odour. Copper's antibacterial abilities successfully eradicate bacteria, viruses, and fungi that cause skin disorders or objectionable odours within hours of contact, and copper-impregnated fabric also aids in the creation of new skin cells, which promotes wound healing and offers pathogen protection. Compression socks and copper-infused accessories can help with blood flow and foot health, making it easier to manage or prevent diabetes-related complications. Modern technology is used to molecularly introduce copper ions into the sock's yarn, where they will remain. These are the primary factors driving revenue growth in the segment.
Diabetic Socks Market Analysis by Distribution Channel
In 2021, the E-Commerce segment had the largest revenue share. This market's expansion is helped by a growth in the number of online services offered as well as an increase in internet users. To avoid physical shopping, people are turning to e-commerce websites, where they can select from a large choice of products and benefit from advantageous deals and discounts. The way people buy and sell medical footwear, particularly diabetic socks, is changing as a result of e-commerce. In terms of product accessibility, cost, transportation patterns, and a variety of other critical factors, e-commerce websites outperform other forms of sales channels. Furthermore, most people choose to shop online because it offers lower pricing than other shops and physical locations. Furthermore, this market sector provides additional benefits such as speedy delivery, simple ordering, and lower transaction and item costs. As a result, modern commerce and convenience stores will continue to be the primary drivers of sales, driving this segment's revenue growth. These are significant elements driving the growth of this segment.
The retail stores segment is expected to develop at a fastest rate during the forecast period due to offline retailers offering a wide range of hair care products, promoting both branded and private-label items. Customers have the right to make such a decision since retail outlets allow them to choose from a variety of brands. Customers can also interact with retail outlet owners and personnel about various products to obtain relevant information. Customers may benefit from the assistance of retail store owners and personnel in making the best option, which may be more convenient for them if they prefer an efficient purchasing method to browse online. Retail establishments, on the other hand, increase customer satisfaction and allow better purchasing selections by facilitating a comprehensive shift in the consumer's shopping trip. These are some of the key factors driving the growth of this segment.
Global Diabetic Socks Market By Distribution Channel
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Diabetic Socks Market Regional Insights
The North America market accounted for the largest revenue share in 2021, owing to the presence of major pharmaceutical companies, favorable government regulations, and increasing recommendations for diabetic socks by various hospitals across the US, which has led to increased demand for these socks in this region. The US Department of Health recommends that diabetic patients always wear cotton or wool diabetic socks to keep their feet dry and avoid exposure to injury or bacteria. Cotton and wool socks, according to official authorities, are ideal for diabetics because they keep the feet dry. When advising patients, healthcare practitioners regularly use diabetes foot care and general diabetes care material provided by pharmaceutical companies.
In 2021, the Asia Pacific market had the second-largest revenue share. The market is expanding in this region, particularly in India, Japan, and China, as a result of rising diabetes prevalence among the population, particularly among the growing elderly population, and rising textile imports and exports for hosiery products including diabetic socks, particularly in China and India, which has resulted in the continued growth of this industry. According to International Markets for Hosiery, the global hosiery market, which includes socks, pantyhose, tights, compression hosiery, and stockings, is expected to grow in 2021. Extra taxes on Chinese imports to the United States, particularly on hosiery, are likely to encourage some Chinese production to shift to lower-cost Asian nations such as Bangladesh, India, Indonesia, Pakistan, and Vietnam. In actuality, emerging Asian economies are expected to see the majority of growth in textile import markets, reflecting the rapid development of upper and middle classes in a number of these countries.
In 2021, the European market accounted for a significant revenue share. Growing preventative care needs, increased collaborations and funding between major companies and hospitals for the increased provision of diabetics, and growing consumer demand for practical, efficient, novel, and eco-friendly alternatives for diabetic socks such as bamboo socks are driving the market forward.
Global Diabetic Socks Market By Region
- Largest
- Fastest
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Diabetic Socks Market Dynamics
Diabetic Socks Market Drivers
Increasing Number of Diabetic Patients
- Diabetic socks market growth is expected to be driven by an increasing number of diabetic patients worldwide as a result of rapid urbanization, nutrition transformation, and increasingly sedentary lifestyles. According to the Centers for Disease Control and Prevention, there were approximately 26.9 million persons diagnosed with diabetes in the United States, with 26.8 million of them being adults. Furthermore, the introduction of numerous government initiatives focused on lessening the diabetic burden is supporting business growth. The Indian Medical Association (IMA), for example, held screening camps and mass awareness campaigns to promote awareness about the disease.
Technological Advancement in the Healthcare Sector
- Furthermore, technological advancements in the healthcare industry, such as the introduction of smart socks into the product spectrum, drive the diabetic socks market growth. Sensors in the socks examine the patient's lower legs, humidity, and foot joints to detect any infection caused by nerve damage. As a result, product innovation will lower the mortality rate caused by foot ulcers and pollution.
Diabetic Socks Market Restraints
Significant Investments Needed for Technological Integration
- The large investments necessary for technology integration, as well as the preference for alternative treatment methods, may limit the global diabetic socks market growth.
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Diabetic Socks Market Competitive Landscape
The global diabetic socks market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.
Diabetic Socks Market Top Player’s Company Profiles
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Therafirm
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Siren Care
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Diabetic Care
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Jobst
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SmartKnit
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Medi USA
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Incrediwear
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Vim & Vigr
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Juzo
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Sugar Medical
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Aetrex Worldwide
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CEP Compression
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Drymax
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FootScientific
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HealthyFeetStore
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PediFix
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Pro-Tech Athletics
Diabetic Socks Market Recent Developments
- in May 2021, the Siren Diabetic Sock and Foot Monitoring System, which makes use of Siren's neuro fabric material, was announced as the company's smart sock product launch. This novel device is capable of providing early warning signs of inflammation or diabetic foot ulcers. The major goal of the launch is to help patients by providing technology that allows them to quickly monitor diabetic foot ulcers.
- In February 2021, Therafrim was named North Carolina's top rural exporter. The company exports its products to over 50 nations, and all of the materials utilized in production are supplied from the United States. It boosted production and sales by 20% in 2021 over 2021.
Diabetic Socks Key Market Trends
- The development of smart sock technology is one of the major emerging trends in the global market. Some diabetic socks include built-in sensors that monitor foot temperature and provide messages to an app if, for example, an ulcer forms. They have a battery the size of a dime on the outside of the sock, close to the ankle. These socks typically have a six-month lifespan. For example, the San Francisco-based company Siren has created socks with microsensors woven in that can detect diabetic foot issues. Siren has developed Neurofabric, a fabric with microsensors woven right into it. The company stated that Neurofabric's sensors are completely seamless and virtually undetectable to the user and that they can be created inexpensively and easily using standard industrial technology. This is a crucial element driving the diabetic socks market's revenue growth, particularly in the healthcare industry.
Diabetic Socks Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global diabetic socks market analysis, by product type segment, the bamboo sector generated the largest revenue in 2021. When combined with other materials, bamboo's remarkable properties, such as being breathable, cool, soft, quick to absorb water, and antibacterial, stimulate the building of good products. The copper segment earned significant income in 2021. Copper-infused socks also prevent athlete's foot and odour from spreading when worn again. Copper's antibacterial properties successfully remove bacteria, viruses, and fungi that cause skin problems or disagreeable odours within hours of contact, and copper-impregnated cloth also improves wound healing and pathogen protection. In terms of distribution channels, the E-Commerce segment has the highest revenue share in 2021. The expansion of this market is supported by an increase in the number of online services available as well as an increase in internet users. Due to offline shops offering a wide choice of hair care products and pushing both branded and private-label items, the retail outlet's category is predicted to grow at the quickest rate over the projection period. Due to the presence of major pharmaceutical companies, favourable government regulations, and increasing recommendations for diabetic socks by various hospitals across the US, the North America market accounted for the largest revenue share in 2021, resulting in increased demand for these socks in this region. The Asia Pacific market will have the second-largest revenue share in 2021. The market is expanding in this region, particularly in India, Japan, and China, as a result of rising diabetes prevalence among the population, particularly among the growing elderly population, and rising textile imports and exports for hosiery products, particularly in China and India, which has resulted in the industry's continued growth.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 177.7 million |
| Market size value in 2031 | USD 285.27 million |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Diabetic Socks Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Diabetic Socks Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Diabetic Socks Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Diabetic Socks Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Diabetic Socks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Diabetic Socks Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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