Global Orthopedic Footwear Market to Grow on Account of Rising Concern for Orthopedic Disease; Market to Grow with a CAGR of 5.85% During 2021-2028
Kenneth Research recently released a research report entitled “Orthopedic Footwear Market: Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
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Musculoskeletal disorders worldwide grew from 3.25% of total DALYs in the year 1990 to 5.89% of total DALYs in the year 2019, according to the statistics by the Institute for Health Metrics and Evaluation (IHME).
The statistics portray the growing prevalence of musculoskeletal disorders around the world, which in turn, is driving the demand for orthopedic footwear. Orthopedic disorders usually are known to create pain or swelling in the foot, ankle or leg. As a result, there is a growing demand for personalized and comfortable footwear that are tailored to the unique health conditions of the individuals. Such a factor is anticipated to drive the growth of the global orthopedic footwear market.
The global orthopedic footwear market is anticipated to grow with a CAGR of 5.85% over the forecast period, i.e., 2021 – 2028. The market is estimated to garner a revenue of USD 11740.62 Million by the end of 2028, up from a revenue of USD 7513.03 Million in the year 2020. The market is segmented by product into slippers, sandals, and shoes. By the end of 2028, amongst all the other segments, the shoes segment is anticipated to garner the largest revenue of USD 5190.57 Million, up from a revenue of USD 3336.78 Million in the year 2020.
Geographically, the global orthopedic footwear market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, 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 research is global in nature and covers detailed analysis on the market 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). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the high cost of orthopedic footwear as compared to conventional footwear is one of the major factors predicted to hinder the market growth.
This report also provides the existing competitive scenario of some of the key players of the global orthopedic footwear market, which includes company profiling of 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.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Orthopedic Footwear Market: Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall global orthopedic footwear industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global orthopedic footwear market in the near future.
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