According to a new report published by Allied Market Research, titled, Diabetic Footwear Market size was valued at $4,994 million in 2016, and is estimated to reach $8,148 million by 2023, registering a CAGR of 7.6% from 2017 to 2023. In 2017, number of women diabetic footwear market share and specialty stores segments share dominated the global market share.
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North America is the market leader and accounts for 40% share of the global market in 2017, followed by Europe. North America is anticipated to dominate the market throughout the analysis period, due to the increasing diabetic population, more awareness regarding diabetic shoes and easy availability of these shoes.
In addition, Asia-Pacific is estimated to grow at the highest CAGR of 8.6% during the forecast period. The Diabetic footwear market is witnessing growth in the developing countries of Asia-Pacific due to the rising diabetic population, increase in disposable income and growing awareness about the diabetic footwear.
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