Diabetic Footwear Market Size, Scope, Future Analysis, Demand & Opportunity Outlook 2023-2033

Global Diabetic Footwear Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global diabetic footwear (shoes) market is estimated to garner a revenue of ~USD 18 Billion by the end of 2033 by growing at a CAGR of ~11% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 8 Billion in the year 2022. The growth of the market is primarily attributed to the worldwide increasing prevalence of diabetes. Moreover, these footwears are becoming popular among the people suffering from diabetes, as it reduces the risk of skin damage, and it is anticipated to increase the growth of the global diabetic footwear market. According to the data released by the World Health Organization (WHO), approximately 422 million people are currently suffering from diabetes worldwide, and this disease is directly responsible for 1.5 million deaths each year.

Diabetic-Footwear-scope Diabetic footwear (shoes) is specially crafted footwear that protects the feet of diabetic patients. The growth of diabetic footwear is being fueled by the fact that this footwear offers support and protection while minimizing pressure points on the feet, lowers the risk of diabetic foot ulcers, and thereby reduces amputations, etc. It also helps to heal several diabetic conditions, such as poor blood circulation in the legs, and also addresses foot pain and ulcers. Moreover, people with diabetes have a higher risk of experiencing deep vein thrombosis (DVT). Thus, diabetic shoes are used to lessen the consequences of DVT. According to the Centers for Disease Control and Prevention (CDC), in the United States, almost 900,000 people are directly affected by deep vein thrombosis (DVT) each year.

Global Diabetic Footwear Market: Growth Drivers and Challenges

Growth Drivers

Rising Geriatric Population Across the Globe – Aging brings a lot of health issues into people’s lives. Numerous aging-related changes are prevalent, and require special care, including a reduced immune system, increased blood pressure, and a slight reduction in eyesight and hearing. Therefore, the increasing aged population is fueling up the diabetic footwear (shoes) market. According to the World Health Organization (WHO), the global population of people aged 60 and over is expected to grow from 1 billion in 2020 to 1.4 billion by 2030. By 2050, the world's population of people aged 60 and over is anticipated to increase to 2.1 billion.
Growing Prevalence of Diabetic Neuropathy – Diabetes patients may experience diabetic neuropathy, a kind of nerve damage. It occurs owing to long-term nerve damage caused by high blood sugar levels. It is a typical and increasingly prevalent consequence of diabetes, and it is projected to boost the market’s growth in the upcoming years. For instance, nearly 51% of people with diabetes are estimated to eventually develop diabetic neuropathy around the globe.
Upsurge in Pes Planus (Flat Foot Pain) – It is a disorder where the foot's medial longitudinal arch collapses, resulting in the foot being flat and causing pain, instability, and trouble walking. For instance, it is anticipated that nearly 22% to 35% of the population suffers from pes planus globally.
Rise in Spending on Diabetes Treatment – The cost of treating diabetes has significantly increased in recent years, owing to several factors. Diabetes is becoming more and more common, and as a result, the expense of treating the condition rises. As per the Centers for Disease Control and Prevention (CDC), ~USD 327 billion is the total annual cost of caring for people with diabetes around the globe.
Worldwide Increase in Healthcare Expenditure -With the rise in poor lifestyle habits and the growing burden of disease, health expenditure has shot up globally, and it is expected to rise the growth of the global diabetic footwear market. According to World Bank data, global healthcare expenditure increased by 9.83% in 2019.

Challenges

Less Ability to Spend on Diabetic Footwear Shoes in Emerging Countries- Diabetes treatment costs are already high in developing countries such as India and Japan. In addition, the high cost of these therapeutic products makes them less affordable for the residents of the county. Hence, such a factor is projected to restrict the market growth in the coming years.
High Cost of Diabetic Footwear Shoes
Lack of Awareness About Diabetic Footwear in Emerging Economies

Global Diabetic Footwear (Shoes) Market Segmentation

The diabetic footwear (shoes) market is segmented and analyzed for demand and supply by end-user into males and females. Out of these, the female segment is anticipated to significantly grow over the forecast period owing to the rapidly increasing count of female diabetic patients across the globe, and rising awareness in females regarding the effects of diabetes. Furthermore, the customizable diabetic footwear are popular among the women in order to have latest fashions, and it is expected to increase the segment’s growth in the market. For instance, it was observed in research, in the major cities of India, until 2021, the lifetime diabetes risk for 20-year-old men has increased nearly by 54%, whereas this ratio has raised around 66% for women, and it was especially high among obese women with a ratio of approximately 87%.

The global diabetic footwear market is also segmented and analyzed for demand and supply by distribution channel into online and offline. As buyers can personally inspect and try on things before buying, offline platforms such as retail outlets are anticipated to hold a higher portion of the market. This is significant for diabetic footwear since the comfort and fitting of the footwear are essential for avoiding foot problems. Online distribution methods, such as e-commerce platforms, are also anticipated to gain traction since they provide ease and a greater selection of goods. Customers may compare prices and items conveniently through online platforms as well. For instance, it is estimated that around 20 billion pairs of shoes are sold every year. Moreover, it has been found that 3 in 4 people prefer buying shoes online presently.

Our in-depth analysis of the global diabetic footwear market includes the following segments:

By Type	Running Shoes Strolling Shoes Dress Shoes Others
By Width	Narrow Medium Wide Others
By Patient Type	Inpatient Outpatient
By Price Range	Low Medium High
By Distribution Channel	Online E-commerce Company Owned Websites Offline Shoe Stores Departmental Medical Specialty Stores Others
By End-User	Male Female

Global Diabetic Footwear Market Regional Synopsis

The North America diabetic footwear market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033 backed by the increasing prevalence of diabetes, and the significantly increasing geriatric population in the region. Moreover, there has been a rising awareness among people related to diabetics and the use of footwear for the comfort of the foot, and it is predicted to increase the market’s growth in the region. As per a report provided by the Centers for Disease Control and Prevention (CDC), in the United States, diabetes affects approximately 37.3 million people, which represents nearly 11% of the US population. Moreover, the diabetic ulcer treatment recommended by the doctors includes wearing footwear that reduces the pain of the patients, followed by the rising number of people suffering from the chronic pain in the North America region, and it is expected to boost the market’s growth in the region.

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Top Featured Companies Dominating the Global Diabetic Footwear Market

Dr.zens Research Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
duna srl
DJO Global, Inc.
Grace Guangzhou Health Shoes Co., Ltd
DARCO International, Inc.
Apex Foot Health Industries, LLC
Podartis srl Unipersonale
Orthofeet, Inc.
Aetrex Worldwide, Inc.
Apis Footwear Company

In The News

April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the diabetic footwear (shoes) market?

Ans: Rising geriatric population across the globe, growing prevalence of diabetic neuropathy, growing healthcare expenditure globally, and an upsurge in pes planus (flat foot pain) are some major factors driving the growth of the market.

2) What would be the CAGR of diabetic footwear (shoes) market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the diabetic footwear (shoes) market growth?

Ans: High cost of diabetic footwear shoes, lack of awareness, and less ability of spending on diabetic footwear shoes in emerging nations are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of diabetic footwear (shoes) market in future?

Ans: The market in the North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the diabetic footwear (shoes) market?

Ans: The major players in the market are Dr.zens Research Inc., duna srl, DJO Global, Inc., Grace Guangzhou Health Shoes Co., Ltd, DARCO International, Inc., Apex Foot Health Industries, LLC, Podartis srl Unipersonale, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the diabetic footwear (shoes) market?

Ans: The market is segmented by type, width, patient type, price range, end-user, distribution channel, and by region.

8) Which segment captures the largest market size in end-user segment in the diabetic footwear (shoes) market?

Ans: The female segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2033
CAGR	~11%
Base Year Market Size (2022)	~ USD 8 Billion
Forecast Year Market Size (2033)	~ USD 18 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Diabetic Footwear Market