Orthopedic Footwear Market Necessity And Demand 2018 to 2026
Orthopedic footwear are special type of shoes designed for individuals suffering from several foot disorders, medical conditions or diseases such as plantar fasciitis, hammer toes, blisters, bunions, foot injuries, heel spurs, alignment issues of the musculoskeletal system, unequal leg length, and diabetes.
Orthopedic Footwear Market Drivers
Increasing developments for the treatment of orthopedic disorder is expected to boost the Orthopedic Footwear Market during the forecast period. In July, 2018, Wright Medical Group N.V presented its full range of lower extremities and biologic solutions, including the PROstep minimally invasive surgery system and AUGMENT injectable bone graft at the American Orthopedic Foot & Ankle Society (AOFAS) 2018 Annual Meeting at the Hynes Convention Center in Boston, Massachusetts.
Increasing prevalence of plantar fasciitis is expected to boost orthopedic footwear market growth. For instance, in October 2018, National Center for Biotechnology Information (NCBI) stated that plantar fasciitis occur in around 10% of the global population, with 83% of these patients being active working adults between the age of 25 and 65 years old. Plantar fasciitis is a common foot condition that involves inflammation of the plantar fascia.
Increasing geriatric population with painful conditions of the foot is a major trend driving growth of the orthopedic footwear market. For instance, in May 2016, a literature survey conducted by Medline and Embase stated that at least one in four older people are affected by foot pain. An older person also tends to have weaker natural shock absorbers. Orthopedic shoes are specially designed to accommodate the older person’s feet to protect their heels from any injury.
Orthopedic Footwear Market Restraints
However, availability of alternative treatments for orthopedic foot condition is expected to hamper market growth. For instance, a podiatry clinic in Sydney, Alternative Foot Solutions, offers foot mobilization podiatry and acupuncture for the treatment of a wide range of foot pain, heel pain, biomechanical, and body movement issues.
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Orthopedic Footwear Market – Regional Analysis
On the basis of region, the global orthopedic footwear market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global orthopedic footwear market, owing to rising incidence of planter fasciitis in the region. For instance, in December 2017, according to American Journal of Orthopedics, around 10% of the U.S. population experiences bouts of heel pain, which results in 1 million visits per year to medical professionals for the treatment of plantar fasciitis. The annual cost of treatment for plantar fasciitis is estimated to be between US$ 192 Mn and US$ 376 Mn.
Increasing awareness about foot-related disorders among people in Asia Pacific is expected to fuel the market growth in this region. Moreover, acquisitions by key players in this region is expected to drive growth of the market. For instance, in January 2016, In’Tech Medical SAS, a world leader in contract manufacturing of surgical instruments in orthopedics, acquired Ortho Solutions Sdn Bhd, a premier Asian contract manufacturer of orthopedic implants and instruments. The acquisition aimed to provide In’Tech Medical Group with a well-established platform to enter the Asia Pacific markets.
Key players operating in the global orthopedic footwear market include New Balance, Orthopedic Bracing Solutions Inc., Dr Comfort, Mephisto, Propet, Clark’s, Piedro, Sole, Rokab, Orthofeet, Vionic, Apex, DARCO, Drew Shoe, Duna, and Chaneco.
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