The Global Medical Footwear Market size is expected to reach $12.4 billion by 2026, rising at a market growth of 8.1% CAGR during the forecast period. The growing number of foot-related problems, for example, plantar fasciitis, bunions, arthritis, foot and ankle wounds, corns, and flat feet, because of inadequately fitting shoes, is a leading factor boosting the market. As per the American Podiatric Medical Association (APMA) 2019, in the U.S., approx. 77% of Americans have experienced foot problems and related issues.
Utilization of ill-fitted shoes for a longer timeframe for regular walks or running can cause sprains, strains, or injury in the feet, which can restrict the wearers' mobility to perform everyday activities. The more these conditions are left untreated, the more awful the pain and uneasiness become for the individuals. However, increasing awareness with respect to the advantages of medical footwear among consumers is anticipated to boost the item demand. This footwear offers cushion to the complete foot, giving it the support to the wearer to move independently.
Furthermore, patients with diseases such as diabetes are among the main consumers of therapeutic footwear to cure ankle and foot. Insufficiently controlled blood sugar on account of these patients can harm various parts of the body, including the nerves and vessels that go to the feet, which makes them more prone to create feet issues and a condition called neuropathy. Medical footwear is explicitly designed shoes that can assist with reducing risk and advance healthy blood circulation, mobility, and support to the feet.
The outbreak of COVID-19 (Corona Virus) pandemic has seriously affected the footwear business, including medical footwear, with a decrease in demand due to closures of the store, lockdown guidelines, and limitation in imports and exports at the worldwide level. Information related to Sales noted for Amazon between mid-February and mid-March in the year 2020 indicated that the sales of footwear dropped by an average of 40 percentage points. Customers have become more aware of their spending habits and will mostly buy only essential items, which is a significant challenge for the market.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 8.1 Billion |
| Market size forecast in 2026 | USD 12.4 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 8.1% from 2020 to 2026 |
| Number of Pages | 126 |
| Number of Tables | 240 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | End User, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Medical Footwear Market to reach a market size of $12.4 Billion by 2026
Based on End User, the market is segmented into Men and Women. Based on Distribution Channel, the market is segmented into Online and Offline. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stryker Corporation, Colfax Corporation (Dr. Comfort), Dr. Zen, Inc., Gravity Defyer Corporation, Duna Srl, Aetrx Worldwide, Inc., Drew Shoe Corporation, New Balance, Inc., Dr. Foot, Inc., and Podartis Srl.
Market Segmentation:
By End User
By Distribution Channel
By Geography
Companies Profiled
The global medical footwear market size is expected to reach $12.4 billion by 2026.
The major factors that are anticipated to drive the medical footwear industry include increasing awareness about Foot-related concerns.
The market is dominated by Offline distribution channels and represented maximum share of market revenue in 2019.
Stryker Corporation, Colfax Corporation (Dr. Comfort), Dr. Zen, Inc., Gravity Defyer Corporation, Duna Srl, Aetrx Worldwide, Inc., Drew Shoe Corporation, New Balance, Inc., Dr. Foot, Inc., and Podartis Srl.
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