Diabetic Shoes/Footwear Market Analysis, Challenges, Strategies & Forecasts
On the back of expanding diabetic population across the continent, the demand for ortho shoes has spiked in recent years. Countries like Singapore and Australia has diabetic prevalence >10%. As a result, the demand for diabetic footwear is mounting every year. Singapore, in-spite of being a small Asian country, is estimated to witness a burgeoned increase in the diabetic footwear and the demand for diabetic shoes is projected to register a healthy CAGR of >8% during 2015-2021. This growth would be backed up by a high prevalence rate of diabetes in the country, which rose from 11.4% in 2010 to 14.8% in 2014. The situation has made the country worried for its future generation and epidemics caused due to beefed up diabetic prevalence.
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In addition to that, Japan is also projected to have a modest demand for the ortho shoes in the country. Japan holds the sixth largest population of diabetic patients in the world and country has witnessed a nominal growth in total diabetic population since 2011- 2014. The total number of diabetic patients in the country was 7.1 million in 2012, which slightly rose to 7.21 million in 2014.
Currently, Japan is one of the fastest aging nations of the world with 26% of the country’s population aging 65 years or above. Further, there is a huge disparity in the birth and mortality rate in the country. The mortality rate is very high due to aged population and birth rate is comparatively very low. All these factors combined, a great market for diabetic footwear is projected to open new avenues in near future.
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The report studies the demand and opportunity on the basis of inpatient and outpatient in the region which further has been granule to the country data. In addition to that, to understand the most profitable distribution mode in the region, the market for China, India, Japan, Singapore, Australia etc. has been studied based on the online & offline channels. Offline distribution channels further have been studied into specialty store, clinics & street stores.
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