Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Diabetes is a chronic disease, which arises when the pancreas fails to produce insulin or when the body does not effectively utilize the insulin produced. The past few decades have seen a significant increase in the population suffering from diabetes in both developing and developed regions. Diabetes and its related complications are serious, expensive to treat, and life-threatening. Some of the major diseases associated with diabetes include stroke, heart disease, kidney damage, amputation, and blindness.
People with diabetes have a greater chance of developing neuropathy, vascular disease, and infections, especially in the legs, so socks and footwear that reduces or eliminates pressures or hot spots is important. A diabetic sock may be a non-restrictive, but close-fitting sock that is meant to alleviate pressures on the foot or leg. Typically sufferers of diabetes are the most common users of this type of sock. Diabetes raises the blood sugar level, which can increase the risk of foot ulcers. Diabetic socks are made to be unrestrictive of circulation, but is inclusive of Medical Grade, FDA regulated gradient compression, maybe include venous compression for enhanced circulation.
Proper diabetic socks also help to manage moisture, a feature that can reduce the risk of infection. Another beneficial feature of diabetic socks is seamless toe-closures to avoid pressure, potential hot spots, and blistering.
The rising number of diabetic neuropathy cases across the globe is one of the prominent factors fueling the growth of the market. Some of the primary factors including, the increasing prevalence of diabetic neuropathy across the world, changes in lifestyle, and rising demand for new technologies which are driving the expansion of the worldwide diabetic socks market revenue. The global market does have its share of challenges. High costs associated with diabetic socks and lacks of awareness among the population are some of the factors that are likely to restrain revenue growth of the diabetic socks market over the forecast period.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Diabetic Socks market. In addition, complete analysis of changes on the Diabetic Socks market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Covid-19 has had a severe impact on the Diabetic Socks industry. COVID-19 is an incomparable global public health emergency that has affected almost every industry, so and, the long-term effects are projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to make sure the inclusion of underlaying COVID-19 issues and potential paths forward.
During the COVID-19 pandemic, when numerous folks are very restricted in our movements, it's even more important for people of all ages and skills to be as active as possible. Even a short break from sitting, by doing 3-5 minutes of physical movements, such as walking or stretching, will help ease muscle strain, relieve mental tension and improve blood circulation and muscle activity. Regular physical activity can also help to give the day a routine and be a way of staying in contact with family and friends.
People with diabetes are more likely to have serious complications from COVID-19. In general, people with diabetes are more likely to possess more severe symptoms and complications when infected with any virus. Your risk of getting very sick from COVID-19 is likely to be lower if your diabetes is well-managed.
The Diabetic Socks market is segmented based on By Product, Distribution Channel, Material, Type and geography.
The Diabetic Socks are available in market according to different product type of ankle length, calf length, and knee-length. Amongst all, the calf-length diabetic socks division is estimated for the largest revenue share. This section is predicted to take custody of the lead throughout the prediction period. The preponderance of individuals with diabetes suffers from diabetic neuropathy and peripheral vascular disease, which appears in severe contaminations and complexities. For this, many diabetic socks manufacturers are concentrating on customized solutions to suffice the specific medical conditions of diabetic patients, which, in turn, would speculate positively on the extension of the global market.
Diabetic Socks is majorly distributed through Hypermarkets, Pharmacy & Drug stores, E-commerce, and Others. Hypermarkets accounted for the largest revenue share. Recent trends in the distribution channels emphasize an enhanced consumer affinity towards procuring commodities from offline stores, such as pharmacy and drug stores hypermarkets. People prefer to buy these products through stores by physically checking the sturdiness and material utilized in the socks. People became extra vigilant about the standard of medical-grade products, which is one of the most influential reasons fueling the segment growth.
The diabetic socks are available in market by material into Polyester, Cotton, Nylon, Spandex, Lycra, and Others. The other segment is expected to gain maximum share in terms of value due to material properties like moisture-wicking, sag resistance, use of natural organic material, etc. Moreover, Cotton socks are breathable, much more so than polyester. This ensures your feet will sweat less, and the material will wick away excess moisture. Cotton is also very good for sensitive skin or if you suffer from any allergies.
The Diabetic Socks are available in market according to different type of Regular socks and Smart socks. The regular socks section is supposed to accommodate the largest shares of market revenue share in the worldwide diabetic socks market during the prediction period. Socks can provide cushioning to stuff the arches and assist keep them warm. Socks can also benefit in preventing cold feet and even frostbite as we are going into the fall and winter months.
Geographically the global Diabetic Socks market is studied for the following region North America, Europe, Asia Pacific, Middle East & Africa and Rest of the World. The North America is considered for the highest shares in terms of market value. As per the American Diabetes Association, there are many Americans diagnosed with diabetes per annum, which predates well for the market during this forecasted period. Europe is anticipated to grow at a higher CAGR. A burgeoning number of diabetes cases are presumed to propelling the market in the region. The region has one among the very best number of youngsters and adolescents (0-19 years) with type-1 diabetes. Additionally, rapid technological proliferation, joint ventures, and mergers and acquisitions are expected to significantly impact market growth. The presence of leading manufacturers of diabetic socks and powerful export networks worldwide are among the main factors for market growth.
The major players in Diabetic Socks market are BSN Medical, SIGVARIS, SIMCAN, 3M, Syounaa, HangZhou Aidu Trading Co., Ltd., Soyad Brothers LLC., DJO, LLC, PediFix Inc., Cupron, Thorlo Inc., and Reflexa among others.
March 2018: Siren started its first product employing its proprietary Neurofabric material. These diabetic socks and foot monitoring systems are correlated to an app, which alerts about the early warning signs of inflammation, and subsequently, diabetic foot ulcers. This launch is presumed to benefit the company in targeting customers who have foot ulcers along with diabetes.
February 2018: Therafrim was awarded the distinction of being North Carolina’s top rural exporter. The company exports its products to more than 50 countries, and all the materials used for manufacturing are sourced from the U.S. It increased its production and sales by 20% in 2017 as compared to 2016.
April 2017: SCA acquired BSN Medical. The purchase price for the shares amounted to US$ 1.70 Bn. This acquisition is an excellent strategic fit for SCA, as the TENA brand of SCA shares similar market characteristics as BSN Medical. This is expected to provide opportunities for accelerated growth of the company through cross-selling.
The report analyses the global Diabetic Socks market based on By Product, Distribution Channel, Material, Type and geography. The Diabetic Socks are available in market by product as Ankle length, Calf length, and Knee-length, by distribution channel as Hypermarkets, Pharmacy & Drug stores, E-commerce, and Others, by material as Polyester, Cotton, Nylon, Spandex, Lycra, and Others, by type as Regular socks and Smart socks. Geographically the global Diabetic Socks market is studied for the following region North America, Europe, Asia Pacific, Middle East & Africa and Rest of the World.
The major players in Diabetic Socks market are BSN Medical, SIGVARIS, SIMCAN, 3M, Syounaa, HangZhou Aidu Trading Co., Ltd., Soyad Brothers LLC., DJO, LLC, PediFix Inc., Cupron, Thorlo Inc., and Reflexa among others.
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