Global Orthopaedic Shoes Market: Overview
Orthopaedic shoes refer to those shoes that are particularly designed to accommodate or support the structure of the leg, ankle, and foot. These shoes come with several medically beneficial functions and attributes that differentiate them from the everyday, regular footwear. Properly made orthopedic shoes are utilized to support the therapeutic needs of foot abnormality or deformity in the lower extremities. Multiple health benefits of these shoes are anticipated to propel growth of the global orthopaedic shoes market in the years to come.
This type of shoes are made to cater to the needs of patients affected with diabetes, unequal leg length, alignment issues of the musculoskeletal system, heel spurs, foot injuries, bunions, blisters, hammer toes, and plantar fasciitis. Use in such a wide variety of illnesses is likely to bolster growth of the global orthopaedic shoes market over the timeframe of analysis, from 2020 to 2030.
Type, application, and region are the three important parameters based on which the global orthopaedic shoes market has been classified.
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Global Orthopaedic Shoes Market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global orthopaedic shoes market is mentioned as below:
- In October 2018, a private equity firm, Webster Capital, entered into partnership with OrthoFeet, Inc., which is a prominent retailer and designer of specialty footwear products that provides relief from pain and comfort to the customers.
Some of the prominent organizations in the global orthopaedic shoes market comprise the below-mentioned:
- Birkenstock Orthopädie GmbH & Co. KG
- Drew Shoe Corporation
- Bata Corporation
- Orthofeet Inc
- Apex Foot Health, Inc.
- Podartis S.r.l
Global Orthopaedic Shoes Market: Key Trends
The global orthopaedic shoes market is characterized by the presence of the following restraints, drivers, and opportunities.
Rising Sports Injuries and Prevalence of Foot Deformities to Support High Demand
A rise in the number of diabetic patients together with expanding base of geriatric population are likely to foster growth of the global orthopaedic shoes market over the timeframe of analysis, from 2020 to 2030. In addition to that, a rise in the awareness amongst the consumers about the health of foot is likely to augur well for the market in the near future. These days more customers are willing to spend more on premium foot products, such as highly advanced orthpaedic shoes that are price highly.
Increased popularity of orthopedic footwear across different parts of the world is owing to the many benefits associated with these shoes. These shoes come with supportive and firm heel, hassle-free fastening, and different size options. All of these features are likely to augur well for the global orthopaedic shoes market over the timeframe of analysis, from 2020 to 2030. Furthermore, there have been increased incidences of musculoskeletal problems, neuromuscular, fractures, and sports injuries, which is likely to support expansion of the market in the near future.
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Global Orthopaedic Shoes Market: Geographical Analysis
North America is anticipated to account for a sizeable chunk of the global orthopaedic shoes market over the forecast timeframe, from 2020 to 2030. Presence of a large number of diabetic patients along with favorable reimbursement policies in the region is likely to drive demand for the market in the years to come. In addition, substantial funding is made available by state government and the federal government, which is likely to accelerate growth of the orthopaedic shoes market in North America.
Market is expected to have high market share in the global orthopedic footwear market owing to the large number of patients with foot or orthopedic injuries. Moreover, available funding by federal and state government as well as favorable reimbursement scenario are also expected to boost the demand for orthopedic footwear. This is followed by the European market because of the developed healthcare infrastructure, routine healthcare check-ups and awareness about the orthopedic footwear. This is followed by the Asia-Pacific market. It represents a huge market potential due to advising by doctors. Latin America followed by the MEA is expected to have the least market share and growth rate over the forecast period due to low geographical presence of major players.
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.
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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?
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