Orthopedic Footwear Market Segmentation by Product (Slippers, Sandals, and Shoes); by End-User (Children Less than 5 Years, Juveniles, and Adults); by Distribution Channel (Store-Based, and Online Stores); and by Indication (Diabetes & Edema, Arthritis, Flat Feet, Heel Pain, and Others)-Global Demand Analysis & Opportunity Outlook 2020-2028

Global Orthopedic Footwear Market Highlights Over 2020 - 2028

The global orthopedic footwear market is estimated to garner a revenue of USD 11740.62 Million by the end of 2028, by growing at a CAGR of 5.85% over the forecast period, i.e., 2021 – 2028. Moreover, in the year 2020, the market generated a revenue of USD 7513.03 Million. The growth of the market can primarily be attributed to the rising concern for the surge in orthopedic disorders worldwide, followed by the growing geriatric population, who are in high risk of having various orthopedic disorders. In one of the statistics by the World Bank, the population aged 65 and above increased from 7.567% (% of the total population) in the year 2010, to 9.318% in the year 2020. Orthopedic footwear is designed to provide relief to individuals who suffer from pain or swelling in the foot, ankle, and leg. Backed by the growing concern for different types of orthopedic disorders worldwide, patients are increasingly seeking for personalized and comfortable footwear which are tailored to their unique health conditions. According to the statistics by the Institute for Health Metrics and Evaluation (IHME), musculoskeletal disorders around the globe increased from 3.25% of total DALYs in the year 1990 to 5.89% of total DALYs in the year 2019. On the other hand, growing prevalence of osteoarthritis, and the rising demand for knee arthroplasty, are also expected to drive the market growth in the coming years.

The market is also anticipated to grow on account of the increasing demand for these products amongst the sportspersons, aging baby boomers, and diabetic patients. Moreover, increasing awareness of health consciousness amongst individuals worldwide and the numerous benefits associated with the use of orthopedic footwear are also expected to create significant opportunities for market growth in the coming years.

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Global Orthopedic Footwear Market Regional Synopsis

Regionally, the global orthopedic footwear market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is anticipated to garner the largest revenue of USD 4012.94 Million by the end of 2028, up from a revenue of USD 2581.48 Million in the year 2020. The growth of the market in the region can primarily be attributed to the high prevalence of musculoskeletal disorders, which according to the statistics by the IHME, grew from 10.61% of total DALYs in the year 1995 to 12.54% of total DALYs in the year 2019. On the other hand, the market in Europe is expected to attain 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 the United Kingdom, Germany, France, Italy, Spain, Hungary, Belgium, Poland, Russia, and the Rest of Europe. Out of these, the market in Germany is anticipated to garner the largest revenue of USD 757.06 Million by the end of 2028, up from a revenue of USD 489.15 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Orthopedic Footwear Market

Growth Drivers

• Increasing Orthopedic Disorders

• Rising Geriatric Population

• Growing Awareness for the Product

Challenges

• High Cost of Orthopedic Footwear as Compared to Conventional Footwear

Global Orthopedic Footwear Market Segmentation Synopsis

The global orthopedic footwear market is segmented by product into slippers, sandals, and shoes. Out of these, the shoe segment is anticipated to garner the largest revenue of USD 5190.57 Million by the end of 2028, up from a revenue of USD 3336.78 Million in the year 2020. By end-user, the market is segmented into children less than 5 years, juveniles, and adults. Out of these, the adult segment is expected to garner the largest revenue of USD 9019.12 Million by the end of 2028, up from a revenue of USD 5734.80 Million in the year 2020. By distribution channel, the market is segmented into stores-based, and online stores. Out of these, the stores-based segment is anticipated to garner the largest revenue by the end of 2028 and also grow with the highest CAGR of 6.09% during the forecast period. The market is also segmented by indication into diabetes & edema, arthritis, flat feet, heel pain, and others. Out of these, diabetes & edema segment is projected to display the largest revenue of USD 5176.39 Million by the end of 2028, up from a revenue of USD 3272.11 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. 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.

Latest Developments in the Global Orthopedic Footwear Market:

• August 11^th, 2021: Apex Foot Health Industries, LLC announced that it has launched the Orthopedic Mesh Mary Jane, an orthopedic footwear added to the fresh summer lineup collection for women. This new footwear is designed with breezy fabric which makes it breathable, sporty and comfortable.

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• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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