Medical Footwear market is projected to grow at the highest CAGR from 2030

August 21, 2022

The report provides an in-depth analysis of the competitive landscape, along with company profiling of key players involved in the global Medical Footwear market. The authors of the report make sure to equip readers with a thorough evaluation of the vendor landscape and inform them of the current and future changes that can be expected. The competitive analysis offered in the report inspects the market share, gross margin, product portfolio, consumption, market status, and technologies of leading players controlling a significant portion of the global Medical Footwear market.

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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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

· North America (U.S., Canada)

· Europe (U.K., Italy, Germany, France, Rest of EU)

· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

· Latin America (Chile, Brazil, Argentina, Rest of Latin America)

· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.

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.

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Furthermore, the report divides the Medical Footwear market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.

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

o Sandals

o Shoes

Diabetic shoes
Flat feet shoes
Arthritis shoes
Other

o Insoles

o Others

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

o Online

o Offline

Overview of the Medical Footwear Market Report:

· Introduction, Product Scope, Market Overview, and Opportunities

· Analysis of the Manufacturers with sales, revenue, and price analysis

· Comprehensive analysis of the competitive landscape

· Extensive profiling of the key competitors along with their business strategies and market size

· Regional analysis of the market along with sales, revenue, market share, and global position

· Country-wise analysis of the market along with types, applications, and manufacturing

· Strategic recommendations to established players as well as new entrants

· In-depth analysis of the risks, restraints, and limitations in the Medical Footwear industry

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