Key Companies Covered in the Orthopedic Footwear Market Research Report Are DARCO International, Inc., DJO, LLC, MEPHISTO S.A.S, Apex Foot Health Industries, LLC, Propet USA, Inc., Vionic Group LLC, Chaneco Limited, DUNA-Corradini S.p.A., Orthofeet, Inc., Piedro, Drewshoe, Incorporated, New Balance Athletics, Inc., Edge Marketing Corporation, and other key market players.
New York, Jan. 06, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the Institute for Health Metrics and Evaluation (IHME), the prevalence of musculoskeletal disorders amongst men and women around the globe increased from 3.81% of total DALYs in the year 2000 to 5.89% of total DALYs in the year 2019. On the other hand, according to the statistics by the Centers for Disease Control and Prevention (CDC), 78 Million people in the United States alone are projected to have arthritis by the end of 2040.
Kenneth Research has recently released a report on “Orthopedic Footwear Market: Global Demand Analysis and Opportunity Outlook 2020-2028” which includes a detailed analysis of the key market players operating in the market, along with their growth strategies in the coming years. The report also portrays the recent market trends, along with the growth factors and the opportunities associated with the market growth.
The concern for orthopedic diseases around the world is increasing at a significant pace. These diseases usually cause pain or swelling in the ankle, foot, or leg, and hence require personalized and comfortable footwear. One of the major sufferers of orthopedic diseases are the growing geriatric population, the age group who are highly prone to several other diseases. The share of the population aged 65 and above out of the total population, according to the statistics by the World Bank, touched 9.318% in the year 2020, up from 7.567% in the year 2010. The people of this age group who suffer from orthopedic diseases often require footwear products that are tailored to their unique health conditions, which in turn, is anticipated to drive the growth of the market of orthopedic footwear.
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The global orthopedic footwear market touched a market revenue of USD 7513.03 Million in the year 2020 and is further expected to reach USD 11740.62 Million by the end of 2028, by growing with a CAGR of 5.85% during the forecast period, i.e., 2021-2028. The market is also anticipated to grow on account of the growing awareness amongst individuals worldwide for different orthopedic diseases, and therefore the need for orthopedic footwear. Besides this, the surge in awareness amongst the individuals for undergoing various physical activities, which includes walking, running, and playing sports are also expected to create numerous opportunities for market growth in the coming years. According to the statistics by the World Health Organization (WHO), adults aged 18 to 64 years should do at least 150-300 minutes of moderate-intensity or at least 75 to 150 minutes of vigorous-intensity aerobic physical activity. Moreover, the growing incidences of orthopedic disorders amongst sportspersons while playing different sports, is also expected to boost the market growth in the coming years.
The global orthopedic footwear market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America registered the largest revenue of USD 2581.48 Million in the year 2020 and is further anticipated to garner the largest revenue of USD 4012.94 Million by the end of 2028. The market in the region is further segmented by country into the United States and Canada. Amongst the market in these nations, the market in the United States is anticipated to hold the highest market share by the end of 2030, while the market in Canada is expected to grow with the highest CAGR of 5.95% during the forecast period.
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On the other hand, the market in Europe is anticipated to garner the second-largest revenue of USD 3495.18 Million by the end of 2028, up from a revenue of USD 2266.68 Million in the year 2020. The market in the region is further segmented by country into United Kingdom, Germany, France, Italy, Spain, Hungary, Belgium, Poland, Russia, and the Rest of Europe, out of which, the market in Germany registered the largest revenue of USD 489.15 Million in the year 2020, and is further expected to reach USD 757.06 Million by the end of 2028.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global orthopedic footwear market is segmented by product into slippers, sandals, and shoes. Amongst these segments, the shoes segment held the largest revenue of USD 3336.78 Million in the year 2020 and is further expected to reach USD 5190.57 Million by the end of 2028. In North America, the segment is expected to touch USD 1807.83 Million by the end of 2028, by growing from a revenue of USD 1169.41 Million in the year 2020. On the other hand, in Europe, the segment is projected to touch the largest revenue of USD 1604.29 Million by the end of 2028.
The global orthopedic footwear market is further segmented by indication into diabetes & edema, arthritis, flat feet, heel pain, and others. Amongst these segments, the diabetes & edema segment held the largest revenue of USD 3272.11 Million in the year 2020 and is further expected to touch USD 5176.39 Million by the end of 2028. In North America, the segment is predicted to garner the largest revenue of USD 1791.78 Million by the end of 2028, up from a revenue of USD 1139.46 Million in the year 2020, while in the Asia Pacific, the segment registered a revenue of USD 765.17 Million in the year 2020 and is further projected to garner a revenue of USD 1270.85 Million by the end of 2028.
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The global orthopedic footwear market is also segmented by end-user, and by distribution channel.
Global Orthopedic Footwear Market, Segmentation by End-User
- Children Less Than 5 Years
- Juveniles
- Girls
- Boys
- Adults
- Women
- Men
Global Orthopedic Footwear Market, Segmentation by Distribution Channel
- Stores-Based
- Online Stores
Some of the prominent industry leaders in the global orthopedic footwear market that are included in our report are DARCO International, Inc., DJO, LLC, MEPHISTO S.A.S, Apex Foot Health Industries, LLC, Propet USA, Inc., Vionic Group LLC, Chaneco Limited, DUNA-Corradini S.p.A., Orthofeet, Inc., Piedro, Drewshoe, Incorporated, New Balance Athletics, Inc., Edge Marketing Corporation, and others.
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