Kenneth Research published the research report Orthopedic Footwear Market: Global Demand Analysis and Opportunity Outlook 2028 on August 19, 2022. It provides a detailed market industry demand analysis and various factors influencing the market growth. The report provides market growth including forecast period 2020-2028, market value, market volume, growth rate, segments, market players, and growth drivers. The research methodology includes the collection of historical and current data based on market valuation and forecast data calculations. Data collection for this report includes both primary and secondary research.
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The global orthopedic footwear market is projected to reach USD 11740.62 million by the end of 2028 from a market value of USD 7513.03 million in 2020. The market is also projected to expand at a CAGR of 5.85% during the forecast period of 2021-2028.
The growth of the market can be primarily attributed to the growing concern over the surge in orthopedic diseases across the globe, and the subsequent increase in the elderly population, who are at a higher risk of various orthopedic diseases. According to World Bank statistics, the population aged 65 years and older increased from 7.567% (percent of total population) in 2010 to 9.318% in 2020. Orthopedic footwear is designed to provide relief to individuals suffering from foot, ankle, and leg pain and swelling. With growing concern over various types of orthopedic conditions around the world, patients are increasingly seeking personalized, comfortable footwear that is tailored to their unique health conditions.
According to statistics from the Institute for Health Metrics and Evaluation (IHME), musculoskeletal disorders worldwide increased from 3.25% of all DALYs in 1990 to 5.89% of all DALYs in 2019. Additionally, the increasing prevalence of osteoarthritis, and the rising demand for knee arthroplasty is also expected to fuel market growth in the coming years. Growing demand for these products among athletes, baby boomers, and diabetics is also expected to fuel market growth. In addition, the growing health consciousness of individuals across the globe, and the numerous benefits associated with the use of orthopedic footwear are also expected to create significant opportunities for market growth in the coming years.
The report consists of company profiles of various key companies in the market. Included are company profiles, company financials, mergers, acquisitions, recent developments, and risk analysis for each company. Industry leaders in the orthopedic footwear market include DARCO International, Inc, DJO, LLC, MEPHISTO S.A.S, Apex Foot Health Industries, LLC, Propet USA, Inc, Vionic Group LLC, Vionic Group, Inc. Chaneco Limited, DUNA-Corradini S.p.A., Orthofeet, Inc., Piedro, Drewshoe, Incorporated, New Balance Athletics, Inc. and Edge Marketing Corporation, among others.
Key Highlights of the Report
– The market study provides an in-depth analysis of the market based on various tools such as SWOT analysis, value chain analysis, and PESTEL analysis.
– The report describes recent trends and developments in a number of industry sectors.
– Several tables, charts, and graphs are included as visual representations of the statistics.
– The business strategies described in the report allow investors and organizations to make informed decisions.
The orthopedic footwear market is segmented by product (slippers, sandals, and shoes), end user (children under five, adolescents, and adults), distribution channel (store-based and online stores), indication (diabetes and edema, arthritis, flat feet, heel pain, others), and region. and by geography. Historical and current market statistics are used to analyze each segment and its sub-segments. The market share and growth of each segment is further evaluated.
On the basis of product, the global orthopedic footwear market is classified into slippers, sandals, and shoes. Among these, the footwear segment is expected to garner the largest revenue of US$ 5190.57 million by the end of 2028, up from US$ 3336.78 million in 2020. Based on end users, the market is segmented into children under 5, juveniles, and adults. Of these, the adult segment is expected to earn the largest revenue of US$9019.12 million by the end of 2028, up from US$5734.80 million in 2020. Based on distribution channel, the market is segmented into store-based and online stores. Among these, the store-based segment is expected to garner the maximum revenue by the end of 2028, growing at the highest CAGR of 6.09% during the forecast period.
On the basis of geography, the report on orthopedic footwear market is further segmented into five major regions, namely, North America, Asia Pacific, Latin America, Europe, Middle East, and Africa.
The market in the North America region is expected to garner the largest revenue of US$ 4012.94 million by the end of 2028 from a revenue of US$ 2581.48 million in 2020. The growth of the market in this region can be attributed primarily to the high prevalence of musculoskeletal disorders. This increased from 10.61% of total DALYs in 1995 to 12.54% of total DALYs in 2019, according to IHME statistics .
In addition, the market is further segmented by region as follows.
– North America (United States and Canada); Europe (United Kingdom, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxembourg, NORDIC, Poland, Turkey, Russia, and other European countries)
– Asia-Pacific (China, India, Japan, Korea, Indonesia, Malaysia, Australia, New Zealand, other Asia-Pacific)
– Latin America (Brazil, Mexico, Argentina, other Latin American countries)
– Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The report focuses on more in-depth information using analytical tools such as Porter’s Five Forces analysis and BPS point analysis. Market analysis data is categorized by both volume and value, providing a more in-depth analysis for clients to make analytical decisions.
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