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Medical Footwear Global Market Report 2022

Medical Footwear Global Market Report 2022

  • March 2022
  • 250 pages
  • ID: 6248440
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the medical footwear market are Aetrex Worldwide Inc., Orthofeet, Duna, Darco International Inc., Dr. Zen Inc., Gravity Defyer Corp., Dr. Foot Inc., DJO LLC(Dr.Comfort), and Horng Shin Footwear Co.

The global medical footwear market is expected to grow from $8.40 billion in 2021 to $8.97 billion in 2022 at a compound annual growth rate (CAGR) of 6.80%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.76 billion in 2026 at a CAGR of 7.0%.

The medical footwear market consists of sales of medical footwear by entities (organizations, sole traders, or partnerships) that refer to a special type of foot wear designed to accommodate footwear needs of individuals possessing one of several foot disorders and medical conditions. A few medical conditions that can benefit by this medical footwear include people with diabetic foot, corns, calcaneal spurs, heel cracks, and heel pain.

The main product types in medical footwear are medical shoes and boots, medical sandals, and others such as slippers, flip-flops, and insoles.Medical shoes and boots are used by persons who suffer from severe joint pain or foot pain.

Medical Sandals are used by persons who suffer from diabetic foot pains.By application, the medical footwear market is segmented into diabetic shoes, arthritis shoes, bunions and hallux valgus shoes, and flat feet shoes.

By sales channel, medical footwear are mainly sold through direct sales, specialty stores, medical and healthcare centres, online retailers and mono-brand stores. Men’s medical footwear and women’s medical footwear are the two main types by end-user.

North America was the largest region in the medical footwear market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rapidly growing prevalence of foot-related issues such as bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis is significantly contributing to the growth of the medical footwear market.Foot-related issues generally refer to the issues that relate to the feet which cause pain in the foot.

Foot-related issues are common in people with diabetes.Some of the foot-related issues like bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis are common in these patients.

Due to these food-related issues, doctors recommend to use medical footwear.For instance, according to the survey conducted by D López-López in 2021, there is an increase in the prevalence of foot pathologies, ranging between 61 and 79%, which is why they constitute an important public health problem.

Most of the people were facing issues like bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis. So, an increase in these foot-related issues is driving the growth in the medical footwear market.

Technological advancement is a key trend gaining popularity in the medical footwear market.Major companies operating in the medical footwear sector are focused on developing new technological solutions to strengthen their position.

For instance, in March 2020, Nike designed a new smart shoe model named Nike Adapt Auto Max.Nike Adapt Auto Max is the first continually updated performance product from Nike due to the near-symbiotic relationship between the shoe’s digital app and the shoe’s opt-in firmware updates.

By using these smart shoes consumers can link shoes with their mobiles and track workouts daily.In the coming years, companies such as MI and Under Armor are also planning to launch their smart shoes into the market.

For example, the MI - Mijia Smart Shoes and Under Armor - UA HOVR Sonic 3.

The countries covered in the Medical Footwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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