The Latin America, Middle East and Africa Diabetic Socks Market would witness market growth of 7.7% CAGR during the forecast period (2023-2029).
The rising prevalence of diabetes is one of the main reasons anticipated to propel the growth of the diabetic socks market during the forecast period. Furthermore, it is projected that the market for diabetic socks will rise due to the growing popularity of these socks due to their protective and non-invasive qualities. Additionally, it is predicted that increased health awareness among the younger generation and cost-effectiveness will restrain the growth of the diabetic socks market. In the upcoming years, technological developments and a preference for non-invasive treatments will also likely present new prospects for the diabetic socks market to expand.
The diabetic socks market is anticipated to experience revenue growth due to the rising prevalence of diabetic neuropathy, lifestyle changes, and increased demand for new technologies. A major element in the market's expansion is the growing concern about health among the general public, which has led to increased expenditure on various healthcare items, including diabetic socks. Additionally, diabetic socks are replacing conventional socks in popularity as they improve blood circulation, reduce the chance of foot injuries, and keep the feet warm and dry.
Obesity affects a sizable proportion of the population in this region. The National Library of Medicine reports that the percentage of adolescents and young children who are obese in Gulf nations ranges from 3% to 18% for females and 5% to 14% for boys. In addition, 2% to 55% of adult females and 1% to 30% of adult males in the Gulf region are obese, while the prevalence rates range from 1% to 30%. Inadequate urban planning, cultural concerns (such as differing indoor and outdoor behavior standards), unhealthy eating patterns, and other factors have contributed to the Middle East and North Africa's rising obesity rates.
Because of how society is changing, the rate of urbanization is increasing, and people have demanding schedules; they are also less concerned with their health than their work and families. As a result, people aren't exercising or eating wholesome meals, leading to increased obesity. These factors increase the number of diabetes cases, which is expected to support the market for diabetic socks as it expands.
The Brazil market dominated the LAMEA Diabetic Socks Market by Country in 2022; thereby, achieving a market value of $8.1 million by 2029. The Argentina market is experiencing a CAGR of 8.3% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 7.5% during (2023 - 2029).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Type, the market is segmented into Calf Length, Knee Length and Ankle Length. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Diabetic Socks Market is Projected to reach USD 463.9 Million by 2029, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Enovis Corporation, I-Runner (Healer Health LLC), Orthofeet, Inc., Knit-Rite, LLC, Drew Shoe Corporation, Creswell Sock Mills, HJ Sock Group Ltd. (Pantherella International Group Ltd), Syounaa (Nishikaa Garments International LLP), and Simcan Enterprises Inc.
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