Rising awareness regarding benefits of medical footwear & need to alleviate associated conditions are key factors driving medical footwear market revenue growth

VANCOUVER, BC, CANADA, September 19, 2022 /EINPresswire.com/ -- The Global Medical Footwear Market size reached USD 9.14 Billion in 2021 and is expected to register a revenue CAGR of 5.6% during the forecast period, according to latest analysis by Emergen Research. High investments in healthcare sector along with increasing Research & Development (R&D) initiatives by various major pharmaceutical companies and technological innovations for development of medical footwear are some key factors driving market revenue growth. Rising prevalence of foot-related disorders like bunions, increasing number of sports injuries to foot and ankle, and rising consumer awareness regarding benefits of foot care are some major factors contributing to revenue growth of the market.

Foot disorders require timely care in order to correct and avoid potential progression of other conditions caused, such as lower back pain, leg discomfort, and hip-related issues. Wearing custom orthotics and insoles helps in faster healing and restoration while providing stability to unstable joints, thereby improving overall health of ankle and joints in addition to preventing foot deformities. Such benefits from orthotics is driving steady demand for medical footwear across the healthcare sector, and in turn driving revenue growth of the market. According to the American Podiatric Medical Association (APMA), around 19% of the US population has an average of 1.4 foot disorders each year, and 5% of the US population gets foot infections annually, including athlete's foot, various fungal diseases, and warts.

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Prominent Players Analyzed in the Report:
New Balance, Dr. Zen's, DJO, LLC, Gravity Defyer Corp., Dr.Foot, MEPHISTO USA Inc., DARCO International, Inc., Duna Orthopaedic Shoes, Watts Footwear, and Orthofeet.

Apart from steady demand from medical personnel and staff, adventure sport enthusiasts, athletes, and military combatants who engage in high-intensity physical activities that have relatively high probability of participant suffering from ankle and knee injuries more than often require medical footwear for faster recovery and healing. Some major companies are focused on developing medical footwear and integrating innovative technologies which would track user’s activities and metrics. Increasing number of persons with diabetes is leading to high demand for medical footwear. Ill-fitting footwear leads to structural changes when used for a prolonged period. Moreover, ill-fitting footwear is a primary cause of foot ulcers in patients diagnosed with systemic diseases such as diabetes. However, high cost of medical footwear is restraining growth of the market to a major extent.

Some Key Highlights From the Report

Shoe segment accounted for largest revenue share in 2021. Growing preference for comfortable and efficient shoes and footwear, especially among working populations formal attire, is a key factor driving revenue growth of the shoe segment. Another key factor contributing to growth is provision of better foot support leading to improved cushioning, which allows for realignment of foot as well as prevention of painful conditions such as flat foot and plantar fasciitis. Shoes need to support normal blood flow, which is extremely crucial for diabetes patients and those suffering from diabetic neuropathy.

Offline segment accounted for significantly large revenue share in 2021. Majority of consumers prefer selecting footwear through the process of physical inspection and touch-and-feel owing to the varying needs of each buyer. Availability and visibility of products across various offline stores such as retail outlets is a key factor driving revenue growth of the offline segment. Ability to verify comfort, durability, as well as check materials used for footwear before making a purchase is a key factor contributing to revenue growth of this segment. Retail outlets assist to provide consumers with the luxury of choice by allowing them to select from a variety of brands. Customers may also enquire about the various items with retail shop owners and employees.

Medical footwear market in North America accounted for largest revenue share in 2021. Rising prevalence of foot disorders owing to other health issues and sports-related injuries in addition to well-established healthcare infrastructure are some of the key factors driving revenue growth of the market in the region.

Some major companies in the global market report include New Balance, Dr. Zen's, DJO, LLC, Gravity Defyer Corp., Dr.Foot, MEPHISTO USA Inc., DARCO International, Inc., Duna Orthopaedic Shoes, Watts Footwear, and Orthofeet.

On 13 June 2022, Orpyx Medical Technologies Inc., which is a digital health company focused on increasing the health span of patients diagnosed with diabetes launched Orpyx SI Flex Sensory Insole system and Orpyx Remote Patient Monitoring (RPM) services. Adoption of remote monitoring program is expected to drive engagement and increase mobility for diabetic patients by transforming patient care through real-world patient data, coaching, and analytics.

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Emergen Research has segmented global medical footwear market on the basis of type, distribution channel, and region:

Type Outlook (Revenue, USD Billion; 2019-2030)

Sandals

Shoes

Diabetic shoes

Flat feet shoes

Arthritis shoes

Other

Insoles

Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

Online

Offline

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Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

The report covers the following chapters:

Executive Summary - The executive summary section of the report gives a brief overview and summary of the report

Report Structure - This section gives the structure of the report and the information covered in the various sections.

Introduction - The introduction section of the report gives brief introduction about segmentation by geography, segmentation by type and by interest rate.

Market Characteristics - The market characteristics section of the report defines and explains the Medical Footwear market. This chapter also defines and describes goods and related services covered in the report.

Supply Chain - The supply chain section of the report defines and explains the key players in the Medical Footwear industry supply chain.

Product/Service Analysis - The product/service analysis section of the report describes the leading products/services in the Medical Footwear market along with key features and differentiators for those products/services.

Customer Information - This chapter covers recent customers’ trends/preferences in the global Medical Footwear market.

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About Emergen Research

Emergen Research is a Marketresearch and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Marketintelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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