Global Gel Socks Market 2019-2023| Increasing Use as Diabetic Socks to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--May 20, 2019--
The global gel socks market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global gel socks market from 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the global gel socks market is the increasing demand for spa activities. The spa industry has grown tremendously over the last few years owing to the growing disposable income, mounting stress levels, and rapidly changing consumer preferences. Moreover, a rise in the number of spa centers offering premium customized services has garnered considerable attention of customers. This, in turn, has positively enhanced the market for gel socks, which are used for in-home spa activities. Further, the growth of the global wellness market, which includes fitness gyms and day spas, is also fueling the growth prospects of this market.
As per Technavio, the increasing use as diabetic socks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global gel socks market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global gel socks market: Increasing use as diabetic socks
The number of patients who have diabetes is increasing at a significant rate owing to several factors such as the rapidly changing lifestyle, lack of exercise, and consumption of unhealthy food. This is resulting in the increased demand for diabetic socks, as they are essential in keeping the feet dry, decreasing the risk of a foot injury, and improving blood circulation. The diabetic socks comprise of gel padding, which can help in protecting the foot from injury and reducing sensitivity and irritation. Thus, the increasing prevalence of diabetes will escalate the demand for diabetic socks, which will lead to significant growth of the global gel socks market during the forecast period.
“Gel socks are growing in popularity as an ideal alternative to expensive creams and lotions, which could be messy to carry while traveling. These socks provide spa-level hydration and help in curing dry and deeply cracked heels. Gel socks contain a unique combination of ingredients, including vitamin E, olive oil, and lavender essence. Such benefits of gel socks will propel their demand during the forecast period,” says a senior research analyst at Technavio.
Global gel socks market: Segmentation analysis
This market research report segments the global gel socks market by application (non-medical, and medical), distribution channel (online, and offline), and geographic regions (Europe, APAC, North America, South America, and MEA).
The European region led the market in 2018, followed by APAC, North America, South America, and MEA, respectively. The dominance of the market in Europe can be attributed to several factors such as rising household income, increasing demand for high-quality healthcare products, and product advancements by leading vendors in the region. Germany is expected to be the leading market for gel socks in Europe during the forecast period.
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Five Forces Analysis
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INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES OTHER HEALTH MEDICAL SUPPLIES
SOURCE: Technavio Research
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PUB: 05/20/2019 09:40 AM/DISC: 05/20/2019 09:40 AM