Diabetic Socks Market

Market Overview

The global diabetic socks market size was valued at USD 273.54 million in 2023. It is projected to reach USD 431.68 million by 2032, growing at a CAGR of 5.2% during the forecast period (2024– 2032).

Diabetic socks are specifically engineered to promote foot dryness, mitigate the likelihood of foot injuries, and optimize blood circulation. Foot care plays a crucial role in managing diabetes, given the potential harm that elevated blood sugar levels can inflict on the nervous and circulatory systems. Diabetic neuropathy, known as nerve damage, results in reduced sensory perception in the lower extremities, specifically the soles of the feet, elevating susceptibility to potential harm. People with diabetes may also be less likely to notice when hurt, which could delay them getting the medical attention they need.

The primary objective of diabetic socks is to safeguard the feet and mitigate the likelihood of injury or irritation. Characteristics that contribute to the attainment of this objective encompass seamlessness, moisture-wicking properties, and padding. Compression socks are a type of hose designed to fit tightly around the feet and legs, exerting a gentle amount of pressure. The purpose of wearing compression socks is to alleviate swelling and discomfort in these areas.

Market Dynamics

Global Diabetic Socks Market Drivers

Increasing Geriatric Population

The prevalence of diabetes has increased among the aging population, as older adults are highly susceptible to diabetes due to the combined effect of an increase in insulin resistance and impaired pancreatic islet function with aging. According to the IDF Diabetes Atlas, 463 million adults aged 20–79 suffer from diabetes. This represents 9.3% of the world's population of this age group. According to estimates, the total population will increase to 580 million by 2030 and 720 million by 2045. Furthermore, a sedentary lifestyle and faulty food habits result in increased cases of obesity worldwide, especially in developed economies, resulting in increased cases of diabetes. This is expected to increase the demand for diabetic socks, fueling the global market's growth.

Rising Spending on Diabetes Treatment

Improvement in GDPs and increase in per capita income, especially in the emerging countries of Asia-Pacific, have paved the way for the diabetic socks market. The rise in income level has also increased the propensity of people to spend more. This has augmented the demand for several therapeutic products, such as diabetic socks, worldwide. Moreover, healthcare and treatment costs have increased significantly and are expected to increase in the future.

The projected annual global expenditure on diabetes in the field of public health is estimated to reach USD 760 billion. According to projections, the anticipated expenditure is expected to reach USD 825 billion by 2030 and USD 845 billion by 2045. Major factors driving demand for diabetic socks include the rise in the elderly population, improved economic conditions, increased purchasing power, rise in disposable income, and increase in per capita income. These socks serve as an affordable means of preventing foot damage.

Global Diabetic Socks Market Restraint

Lack of Awareness Toward the Availability of Diabetic Socks

The lack of awareness and experience of local healthcare professionals regarding the types and benefits of diabetic socks is a challenge to the growth of the global market. Improper primary foot care and the availability of substandard products in the market are major stakeholder challenges, hampering the market growth.

Global Diabetic Socks Market Opportunities

Development of the E-commerce Industry and Brand Expansion

The increase in internet penetration worldwide has provided a platform to conveniently buy and sell several different products and services. Social media has helped increase awareness about products unknown to most people. Product innovation, customization to individual needs, and brand expansion to various countries create new growth opportunities for foreign and domestic players.

Additionally, the market for diabetic socks is anticipated to benefit from an increase in demand for new sock designs and greater awareness of active and healthy lifestyles over the forecast period. Prominent stakeholders prioritize research and development (R&D) efforts and introduce novel products to augment their existing portfolio. Similarly, players are focusing on increasing awareness among consumers about the availability of these socks by increasing expenditure on promotional and advertising activities.

Regional Analysis

Based on region, the global diabetic socks market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant global diabetic socks market shareholder and is estimated to exhibit a CAGR of 5.1% over the forecast period. The increase in the prevalence of diabetes in North America is a key factor that significantly contributes to the market's growth. With an estimated population of about 47.6 million people affected by diabetes in North America, 13.3% of people between the ages of 20 and 79 show symptoms of the disease. The number of Americans with diabetes is around 31.0 million, while 12.8 million cases are reported in Mexico and 2.8 million in Canada. In addition, a total expenditure of USD 294.6 billion was allocated solely within the United States to provide medical treatment to individuals diagnosed with diabetes. Therefore, the surge in cases of diabetes has propelled the demand for diabetic socks, which is further expected to boost the share of the North American market.

Asia Pacific is predicted to exhibit a CAGR of 6.2% over the forecast period. The prevalence of diabetes has experienced a significant surge in the Asia-Pacific region, with approximately 116.4 million individuals affected by this condition. India, in particular, exhibits a substantial burden, with an estimated 77 million individuals who have diabetes. The adoption rate of diabetic socks remains limited in Asia-Pacific due to insufficient product awareness. Therefore, a significant opportunity exists to explore the untapped potential markets within the Asia-Pacific region.

In Europe, the surge in the geriatric population is expected to fuel the incidence rate of diabetes among the aging population. This is attributed to the fact that older adults are highly susceptible to diabetes due to the combined effect of an increase in insulin resistance and impaired pancreatic islet process with aging. According to the IDF Diabetes Atlas, the number of adults aged 20–79 years with diabetes in Europe is estimated to be 59.3 million, representing 8.9% of the regional population in this age group. Germany, Egypt, and Russia are some of the major countries where diabetes is significantly high. Moreover, it has been observed that a majority exceeding 50% of individuals diagnosed with diabetes belong to the high-income demographic. All these factors together are expected to augment the demand for diabetic socks, thereby propelling the diabetic socks market growth in Europe.

The LAMEA diabetic socks market includes Latin America and the Middle East and Africa. Countries such as Brazil, Argentina, and South Africa are major shareholders in LAMEA diabetic socks market. This is attributed to the fact that leading players have substantially invested in advertising and marketing to increase regional market share. An increase in expenditure for diabetic care products in the region is further predicted to boost market expansion during the forecast period.

Segmental Analysis

The global diabetic socks market is segmented into type and sales channels. 

Based on type, the global diabetic socks market is segregated into ankle length, Mid-calf length, and knee length.

The calf-length segment dominates the global market and is estimated to grow at a CAGR of 5.5% during the forecast period. Calf-length diabetic socks help relieve pain and treat medical conditions in one's lower leg, such as aching feet, varicose veins, or other blood circulation issues up to calf length. The product applies gradient pressure throughout one's lower leg to stimulate blood flow and relax muscles. Calf-length socks are of the length covering the calf. These socks have increased in popularity and are widely accepted among diabetic patients. This is attributed to calf length having better leg coverage, offering maximum comfort and support. They also boost oxygen flow to the legs to prevent foot and ankle swelling.

Knee-length socks cover the feet, calves, and entire leg. They minimize friction and prevent infections, blisters, sores, and other injuries. Moreover, they offer better fit, extra support, non-irritating seams, and roomy tops. Kneel-length diabetic socks are available in vibrant colors and are long-lasting. These socks undergo process-dying, owing to which they are highly fade-resistant. They are also resilient to sagging down and offer enhanced warmth and support to the overall leg and foot.

Ankle length, or low-cut socks, covers feet from toes to ankle. These no-show socks suit all types of apparel and footwear, such as informal, gym, low-cut, and running shoes. Ankle-length socks provide enhanced comfort, prevent bacterial infection, and enhance blood circulation in the lower legs. Moreover, they regulate foot temperature and help reduce leg fatigue and aches. Some major players providing ankle-length diabetic socks include AHG, Diabetic Sock Club, and DJO LLC.

Based on material type, the global diabetic socks market is segmented into Polyester, Cotton, Nylon, Wool, Lycra and Others

Diabetic socks are frequently composed of a variety of materials, each of which meets different set of requirements and preferences. For example, cotton is known for its softness and breathability, but polyester and nylon frequently offer durability and the ability to drain away sweat. Conversely, wool provides warmth and can be quite useful in colder regions. 

Based on distribution channel, the global diabetic socks market is segmented into Online and Offline.

The offline segment owns the largest diabetic socks market share and is estimated to exhibit a CAGR of 4.9% during the forecast period. Offline channels include physical stores, one of the traditional shopping channels that span a large area and display a wide range of brands. The offline channels lead in market share, allowing customers to test and check the merchandise before purchasing, thereby enhancing the shopping experience. These stores also provide attractive offers and discounts, fueling this segment's growth. Similarly, the easy payment gateway offered by these channels significantly contributes to the growth of this segment. Some key brick-and-mortar stores, such as specialty stores, retail pharmacies, and franchisee stores, are being considered in the offline store segment. These stores offer various options for diabetic products promoting both branded and private-labeled segments.

Online sales are increasing due to the accessibility of information regarding diabetic socks, time-saving features, and home delivery availability. The demand for diabetic socks through online channels is boosted by increased e-commerce sales, improvements to shipping services, simplicity of payment choices, and the ability of large brands to penetrate new international markets. Nowadays, consumers rely on the Internet more and more to find information. In addition, the primary reasons influencing the selling of diabetic socks online are convenience and price. As a result, most major producers have established online stores offering diabetic socks, contributing to the world market expansion.

Based on End-User, the global diabetic socks market is segmented into Men, Women and Unisex

Men's diabetes socks are suited to male customers' individual needs and preferences, while women's diabetic socks are tailored to female customers' specific demands and style preferences. Unisex diabetes socks are an adaptable alternative that both men and women may use. Understanding these distinctions allows diabetic socks to be adjusted to different user groups' individual demands and comfort. 

Recent Developments

• June 2023- Advantage Orthotics 3/4-Length Carbon Graphite Arch Supports from PediFix were introduced to help relieve foot pain in sporty, dressy, and casual footwear. Exclusive Carbon material and our well-proven "Perfect Fit" biomechanical shape support and stabilize your feet to ease suffering from weak and "flattened" arches, plantar fasciitis, and other common foot disorders.
• April 2023- PediFix introduced Lateral Sole Wedge Insoles to help treat various conditions, including those brought on by excessive supination—the tendency to roll the outside of the foot when walking or running. These slanted' insoles have a beveled design extending their full length.