Fact.MR, Rockville: The ongoing research project on orthopedic footwear market undertaken by Fact.MR forecasts a relatively stable outlook for 2021.
Rising prevalence of plantar fasciitis has provided significant expansion prospects for key market players, heightening growth prospects
Fact.MR, Rockville: The ongoing research project on orthopedic footwear market undertaken by Fact.MR forecasts a relatively stable outlook for 2021. With the pandemic induced shutdowns being withdrawn, manufacturers are experiencing a resurgence in production cycles, thereby restoring demand-supply gaps. Outlook for the 2021-2031 decade also appears optimistic, as healthcare experts apprehend an increase in orthopedic disorders amongst the global population.
The market is poised to garner significant gains in the future, with preference for orthotic insoles equipped footwear slated to aggrandize. High prevalence of plantar fasciitis is attributed as the primary driver for heightened insoles based shoe sales. The condition affects approximately a tenth of the global population, mostly those affected by severe diabetes.
To capitalize on this trend, manufacturers are incorporating a wide spectrum of production technologies, ranging from automation to additive manufacturing, in order to augment operational capacities and widen revenue pools. Players such as 8sole and Aetrex have been highly active in this regard- the former specializing in advanced biomechanics to reduce pressure exertion and the latter on determining accurate foot size.
“Favorable government policies to promote enhanced orthopedic footwear usage is attracting prominent manufacturers across high potential markets, thereby improving access to previously unavailable management options by patients and consumers,” remarks the Fact.MR analyst.
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Key Takeaways from the Orthopedic Footwear Market Study
- Orthopedic footwear to primarily attract adult men and women customers, owing to high incidence of feet disorders
- Store-based retailing to remain the primary distribution channel, with specialized shoe stores poised to generate maximum revenue
- U.S to capture significant revenue share amid rising cases of foot osteoarthritis and osteoporosis
- U.K poised to register stable annual growth, attributed to rising numbers of patient consultation regarding management of foot orthopedic disorders
- Germany and France likely to experience modest growth, owing to store closures experienced due to the pandemic crisis
- High growth is forecasted for the Asia-Pacific market: India and China to maintain lead
Orthopedic Footwear Market- Prominent Drivers
- Expanding global geriatric population pool is stimulating heightened sales of orthopedic footwear
- Manufacturers are also finding opportunities in the millennial footwear segment, with youngster emphasizing more on comfort than aesthetics
- Growing incidence of foot disorders arising out of sport injuries is also stimulating heightening sales
Orthopedic Footwear Market- Key Restraints
- Prominent orthopedic footwear brands belong to the premium category, rendering them unaffordable to lower or middle income consumers
- Specific engineering requirements had led to limited presence of manufacturers, leading to restricted output
- Store closures experienced during COVID-19 imposed lockdowns have disrupted production cycles which is likely to usher in moderate growth in the immediate forecast period
Discover more about the orthopedic footwear market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/1159/orthopedic-footwear-market
Competitive Landscape
Aetrex Worldwide Inc., Polaris S.r.l., Orthofeet Inc., Ablegaitor LLC., Drew Shoe Corporation, DJO LLC, Apex Foot Health Inc., Birkenstock Digital GmbH, and ORTHOPEDIC SOLUTIONS are some prominent orthopedic footwear manufacturers. Primary expansion strategies include collaborations, acquisitions, product launches and strengthening of distribution networks.
Furthermore, technological advancements lie at the core of some manufacturers, such as Aetrex Worldwide, which produces 3D-printed orthopedics using its Albert 2 foot scanning system. Its products are highly suitable for people suffering from plantar fasciitis, flat feet, high arches and heel pain amongst the multitude of foot problems plaguing patients.
Likewise, Drew Shoe Corporation offers a series of orthopedic footwear equipped with comfort insoles engineered for support, extra toe room and removable insoles that can accommodate prescribed orthotics. Some examples are TREVINO BOOTS for men, ANTWERP, ATHENA and ATHENS among others.
More Valuable Insights on the Orthopedic Footwear Market
In its latest report, Fact.MR offers unbiased analysis of the global orthopedic footwear market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of consumer group (adult and pediatric), and distribution channel (store-based and online channels) across five major regions of the world (North America, Latin America, Europe, Asia Pacific and MEA).
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