The Medical Footwear Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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As per The Business Research Company’s Medical Footwear Global Market Report 2024, the medical footwear market has witnessed robust growth in recent years, with a projected increase from $9.87 billion in 2024 to $10.71 billion in 2024, showcasing a notable Compound Annual Growth Rate (CAGR) of 8.5%. This expansion during the historical period can be ascribed to various factors including the burgeoning aging population, prevalent orthopedic conditions, post-surgery recovery necessities, imperative diabetic foot care, efficacious foot pain management, and esteemed podiatric recommendations.
Forecasts for the medical footwear market indicate substantial growth on the horizon, with an anticipated surge to $14.89 billion by 2028, boasting a commendable CAGR of 8.6%. This anticipated escalation is attributed to escalating health consciousness, augmented foot health education initiatives, the prominence of athletic footwear for preemptive injury mitigation, a surge in foot surgeries, and significant shifts in cultural and lifestyle norms. Notable trends anticipated in the forecast period encompass the integration of 3D printing technology for bespoke customization, deployment of advanced materials aimed at optimizing comfort and support, integration of smart footwear technologies, incorporation of aesthetically pleasing designs for therapeutic shoes, and the integration of non-slip and slip-resistant soles.
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 using 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.
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The medical footwear market covered in this report is segmented –
1) By Product: Medical Shoes & Boots, Medical Sandals, Other Products
2) By Sales Channel: Direct Sales of Medical Footwear, Footwear Specialty Stores, Medical & Healthcare Centers, Online Retailers of Medical Footwear, Mono-Brand Stores, Other Sales Channels
3) By Application: Diabetic Shoes, Arthritis Shoes, Bunions & Hallux Valgus Shoes, Flat Feet Shoes, Other Applications
4) By End User Sex: Men, Women
Top 5 Major Players:
- New Balance Athletics Inc
- Crocs Inc
- Wolverine Worldwide Inc
- The Timberland Company
- Rockport Company LLC
- Dansko LLC
Prominent entities within the medical footwear landscape are embracing a strategic partnership paradigm to cater to diverse medical requisites through the assimilation of cutting-edge technologies and specialized designs. Strategic partnerships entail a collaborative process wherein entities leverage each other’s strengths and resources to foster mutual benefits and prosperity. A noteworthy instance of such collaboration transpired in February 2022 when DARCO International Inc., a reputable US-based medical footwear entity, joined forces with Sensoria Health Inc., a distinguished US-based wearable technology enterprise, to pioneer a range of intelligent diabetic footwear. This innovative range integrates Sensoria’s state-of-the-art smart boot technology with precision pressure sensors and cloud-based monitoring functionalities. The overarching objective of this collaboration is to amplify early detection capabilities and intervene proactively in diabetic foot wounds, thus furnishing a holistic solution aimed at mitigating amputation risks and augmenting patient outcomes. The assimilation of connected footwear seamlessly aligns with the Centers for Medicare & Medicaid Services’ steadfast focus on remote patient monitoring within the realm of diabetic care, thereby underlining the industry’s commitment to advancing patient welfare through innovative synergies.Notably, the integration of connected footwear aligns seamlessly with the overarching imperatives outlined by the Centers for Medicare & Medicaid Services, particularly in the realm of remote patient monitoring within the ambit of diabetic care.
The medical footwear market report table of contents includes:
1. Executive Summary
2. Medical Footwear Market Characteristics
3. Medical Footwear Market Trends And Strategies
4. Medical Footwear Market – Macro Economic Scenario
5. Global Medical Footwear Market Size and Growth
…..
32. Global Medical Footwear Market Competitive Benchmarking
33. Global Medical Footwear Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Footwear Market
35. Medical Footwear Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Medical Footwear Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Medical Footwear Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Medical Footwear Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 75: New Balance Athletics Inc. Financial Performance
Table 76: Crocs Inc. Financial Performance
Table 77: Wolverine Worldwide Inc. Financial Performance
Table 78: The Timberland Company Financial Performance
Table 79: Rockport Company LLC Financial Performance
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