Ortho Diabetic and Handicap Footwear Market size is estimated to reach $10.7 Bn by 2025, growing at a CAGR of 2.9% during the forecast period 2020-2025. Diabetes is a type of health issue that is affected in recent times. Around 6 percent of the global population is affected by diabetes and mostly in the aging population. The increased glucose in the blood is the major cause if this disease and caused neurological problems and slows down the healing process in the body which caused any infections. The increase in demand for footwear as they help in good blood circulation to the body and the handicapped footwear, which help handicapped consumers to get back to walk is driving the growth of the market during the forecast period 2020-2025.
Ortho Diabetic and Handicap Footwear Market Segment Analysis - By Type
The Type segment of Ortho Diabetic and Handicap Footwear Market Standard Footwear and Custom Made Footwear. The Standard Footwear segment, which is sub-divided into Comfort, Diabetic, Therapeutic, and Others, registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025 with a CAGR, owing to the increased number of people suffering from diabetes and other infections which are causing damage for nerves. The diabetic segment is set to grow owing to the increased diabetic population globally. The increase in demand for the footwear that is designed depending on the person who is using and with the type of issue consumer is facing is driving the market in the custom-made footwear segment.
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Ortho Diabetic and Handicap Footwear Market Segment Analysis - By Material Type
The Material Type segment of Ortho Diabetic and Handicap Footwear Market has Leather, Rubber, Plastic, Wood, and Others. The Leather segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025, owing to the properties like long durability and ease of maintenance. The plastic segment is also set to have good growth owing to the advantages in the manufacturing process and cheap at cost. The rubber segment is set to have a positive growth as they are mostly used material in the footwear industry and are easy to use by different age groups and are even used in custom footwear at required shape and sizes as they are ease of moulding into different designs.
Ortho Diabetic and Handicap Footwear Market Segment Analysis - By Geography
Based on Geography the global Ortho Diabetic and Handicap Footwear Market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America had a dominant share in terms of revenue in 2019 and it holds the largest market share during the forecast period 2020-2025 owing to the increased usage of diabetic footwear by the diabetic patients. The increase in the population and prevalence of diabetes in the aging population are driving the market in the Asia-Pacific region. The rise in the latest technology, availability of the customizing designs and increase in demand of the footwear for the good blood circulation is driving the market globally during the forecast period 2020-2025.
Ortho Diabetic and Handicap Footwear Market Drivers
High prevalence of diabetes
The increase in diabetes, which is causing trouble in blood circulation is the major driver for the ortho diabetic and handicapped footwear market. The increase in the usage of the footwear by the handicapped people are supporting the growth of the market during the forecast period 2020-2025.
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Ortho Diabetic and Handicap Footwear Market Challenges
Lack of awareness among people about footwear
The lack of awareness among the people about the ortho diabetic and handicap footwear are challenging the market growth.
Ortho Diabetic and Handicap Footwear Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Ortho Diabetic and Handicap Footwear Market. Key companies of this market are Medline Industries, Sigvaris Inc., DARCO International Inc., Hong Kong Grace Shoes Development Co Ltd., Ortho Europe Inc., Duna Srl, Thuasne Inc., Podartis Srl, Supreme Health Care Bangalore Private Limited, Drew Shoe Corporation, and others.
Acquisitions/Product Launches:
In February 2019, Colfax Corporation, a leading company that provides orthopedic fabrication technology has acquired DJO Global, Inc., led by an investor group managed by Blackstone, for a worth of $3.15 billion.
Key Takeaways
Geographically, North America’s Ortho Diabetic and Handicap Footwear Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high disposal income and increasing health care infrastructure.
The increase in health concern, increasing awareness about handicap footwear and increased prevalence of diabetes are driving the market for Ortho Diabetic and Handicap Footwear Market during the forecast period.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Ortho Diabetic and Handicap Footwear Market report.
The ortho diabetic and handicapped footwear helps the patients to get good blood circulation for diabetic patients and also help the handicapped people to get some artificial legs for them, these uses are driving market during forecast period.
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