Medical Footwear Market: Introduction
- Medical footwear is designed and manufactured as therapeutic footwear and helps to deal with foot-related issues such as arthritis, bunions & hallux valgus, plantar fasciitis, and Achilles tendonitis. Some footwear are also designed for people having diabetes and flat feet. Medical footwear ensures proper blood circulation and better support for the feet. The growing health concerns due to increasing foot related problems has fueled the usage of medical footwear among consumers. Various advantages of medical footwear over regular footwear is expected to eventually boost the medical footwear market. Increasing physical fitness activities (walking, jogging, cycling, climbing, etc.) has spurred the demand for medical footwear due to health-related concerns. Hence, the medical footwear industry is expected to have an increasing growth rate graph during the forecasted years.
Growing Awareness about Foot-related Concerns to Drive the Global Medical Footwear Market
- Improper wearing of footwear and socks in diabetic patients leads to over 21% to 33% incidence of diabetic foot ulcers. The International Clinical Guidelines for Diabetic Foot clearly states that proper footwear can reduce abnormal plantar pressure, reduce the occurrence of corpus callosum and ulcers, and prevent foot injuries. Researchers have designed and produced special footwear meant for different health-related problems with the development of science and technology. Increasing foot care awareness among people related to limiting the movement of the joints, strengthening the stability of the feet, and reducing pain has increased the usage of medical footwear, which is positively impacting the medical footwear market across the globe.
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High Cost of Medical Footwear to Hamper the Growth of the Market Globally
- Medical footwear is costlier than regular footwear. Poorly chosen and incorrectly fitting footwear can negatively impact health and contributes heavily to foot discomfort. The availability of low cost footwear can create hurdles for the growth of the medical footwear market. Awareness about medical footwear in emerging economies is slower and people tend to use regular footwear in these regions. However, innovative product designs and promotional & advertising activities of medical footwear can create better opportunities in the upcoming years.
North America to Lead the Global Medical Footwear Market
- In terms of region, the global medical footwear market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
- Europe includes the country-level analysis for the U.K., Germany, France, and Rest of Europe. North America medical footwear market country-level analysis includes Canada, the U.S., and Rest of North America. The South America medical footwear market is segmented into Brazil, and Rest of South America. Analysis and forecast of the medical footwear market in Asia Pacific features India, China, Japan, and Rest of Asia Pacific. Middle East & Africa covers the market analysis for GCC countries, South Africa, and Rest of Middle East & Africa.
- The market in North America is likely to witness maximum demand for medical footwear from 2021 to 2030 due to rising disposable incomes and growing diabetic and orthopedic patients in the region.
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Key Manufacturers Operating in the Market
The key manufacturers operating in the global medical footwear market are as follows:
- DARCO International, Inc.
- DJO, LLC(Dr.Comfort)
- Gravity Defyer Corp
- Drew Shoe
- Horng Shin Footwear Co.
- Aetrex Worldwide, Inc.
- Dr. Foot Inc.
- Podartis srl
- Dr. Zen, Inc.
- Duna srl
Global Medical Footwear Market: Research Scope
Global Medical Footwear Market, by Footwear Type
- Shoes & Boots
- Others (Slippers, Flip-flops, Insoles, etc.)
Global Medical Footwear Market, by Application
- Diabetic Shoes
- Arthritis Shoes
- Bunions & Hallux Valgus Shoes
- Flat Feet Shoes
- Others (Plantar Fasciitis Shoes, Achilles Tendonitis Shoes, etc.)
Global Medical Footwear Market, by Price Range
- Less than US$ 50
- US$ 50 – US$ 100
- More than US$ 100
Global Medical Footwear Market, by End-user
Global Medical Footwear Market, by Distribution Channel
- E-commerce Websites
- Company-owned Websites
- Large Format Stores
- Departmental Stores
- Others (Footwear Retail Stores, Medical and Healthcare Centers, etc.)
Global Medical Footwear Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.