Research Nester assesses the growth and market size of global orthopedic footwear market which is anticipated to be on account of the growing importance of orthopedic footwear.
Research Nester’s recent market research analysis on “Orthopedic Footwear Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global orthopedic footwear market in terms of market segmentation by product, end user, distribution channel, indication, and by region.
Growing Concern for the Prevalence of Chronic Diseases to Promote Global Market Share of Orthopedic Footwear
Increasing the population with underlying medical conditions, increased awareness concerning the benefits of orthopedic footwear, and more patients requiring to wear orthostatic shoes recommended by healthcare professionals are the key growth factors for this market. For people with foot and ankle deformities, orthopedic shoes have been designed particularly for them. They're useful in providing support for muscles and joints, as well as helping to reduce pain when you walk or stand. We found that one in four people aged over the age of fifty was suffering from foot pain, globally.
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The concern for orthopedic diseases has increased significantly. Patients with these disorders have often experienced pain or swelling on their feet, legs and consequently need custom footwear suited to each patient's needs. According to information provided by the World Bank, the proportion of people 65 and over in the population reached 9.318% in 2020, up from 7.567% in 2010. The orthopedic footwear market is likely to be stimulated by the demand of patients in this age group who have been diagnosed with orthopedic disorders and require shoes which are particularly designed for their unique health conditions. Moreover, many possibilities of market growth are expected to be opened up over the coming years as a result of an increasing demand for sports participation such as walks, jogs and sport.
Some of the major growth factors and challenges that are associated with the growth of the global orthopedic footwear market are:
Growth Drivers:
• Increasing diabetic patients and ageing population
• Increasing health awareness and popularity of orthopedic footwear
Challenges:
Despite market improvements, both the need for necessary equipment and lack of qualified personnel are still insufficient in research and development. In the forecast period, this is expected to limit market growth. Growth in the market is anticipated to be hindered by alternative treatments for orthopedic conditions. High cost and lack of skilled persons are some of the major factors anticipated to hamper the global market size of orthopedic footwear.
By product, the global orthopedic footwear market is segmented into slippers, sandals and shoes. The shoes segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Support for flat feet is provided by orthopedic shoes. Moreover, this market segment is expected to experience an increase over the forecast period due to a wide range of advantages for orthopedic shoes including shock absorption, stability, and increased walking performance as well as uneven distribution of weight.
By region, the European orthopedic footwear market is to generate the highest revenue by the end of 2035. Due to the developed healthcare infrastructure, frequent healthcare check-ups, and knowledge regarding orthopedic footwear, the European orthopedic market is set to hold a 20% market share by the end of 2035. The availability of federal and state government financing, as well as favorable reimbursement scenarios, are likely to stimulate demand for orthopedic footwear in the region.
This report also provides the existing competitive scenario of some of the key players of the global orthopedic footwear market which includes company profiling of Dr. Comfort, Mephisto, Apex, Propet, Vionic, Chaneco, Duna, Orthofeet Inc., Piedro, and others.
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