Medical footwear is generally a therapeutic product developed to reduce the risk of foot-related issues and also prevent complications such as amputations, strain, and ulcers. These are specifically designed for people having unusually shaped foot or functional impairment. This may be aggravated if people also have underlying medical conditions such as arthritis diabetes, or other afflictions. This is where medical footwear plays a crucial role in helping people with foot-related issues. The surge in cases of foot-related issues such as ankle injuries, bunions, corns, plantar fasciitis, and flat feet due to poorly fitting shoes, is a major driving factor for the medical footwear market.
An increase in the awareness about the benefits of medical footwear among consumers is anticipated to boost the product demand. This footwear comes with a cushion to the entire foot offering extra comfort to the wearer. In addition to this, patients suffering from diabetes are the leading consumers of medical footwear to heal foot and ankle. Moreover, sports enthusiasts, long-distance runners, and military combats involved in high-intensity outdoor activities are more prone to suffer from ankle pain and hence require medical footwear for recovery. All these factors are contributing to the surge in demand for the global market.
- Based on the distribution channel, the online distribution segment emerged as the fastest distribution channel and is expected to take this lead ahead owing outbreak of COVID-19 made people shift towards the online platform to purchase medical footwear.
- By end-use, the men segment accounted for the largest market share on account of a rise in the cases of medical problems such as diabetes and foot pain. An increase in the count of diabetic patients globally driving the segmental growth.
- Asia Pacific is expected to dominate the medical footwear market due to the increased presence of several market players offering a wide range of footwear products with seasonal discounts complemented by effective marketing strategies driving more sales.
- The COVID-19 pandemic has impacted the footwear industry on large, with a major shift in consumers’ purchasing patterns. There is a reduction in purchases from stores resulted in store closures and people are opting for online purchases to ensure their safety during this pandemic.
Regional Growth and Trend Analysis
The North American region is growing at a higher rate with major revenue contributors to the market. The growth of the regional market is fueled by an increased rate of people struggling with foot-related issues and continuous enhancement in the product offerings. In addition to this, the presence of leading market participants is further contributing to the surge in the growth of the regional market. Asian countries with huge population bases such as India and China witnessed a surge in the cases of diabetes which in turn driving demand for medical footwear. In addition to this, people from the region have become more health-conscious and willing to purchase footwear to get relief from foot pain.
Leading players present in the global medical footwear market are Aetrex Worldwide, Inc., Darco International Inc., Gravity Defyer Corporation, Dr. Comfort, Dr. Zen, Inc., Mephisto, Orthofeet, and Duna. Most of the participants in the market are involved in strategic moves such as collaborations, partnerships, and product development to stay ahead of competitors. Companies are continuously working in the research and development process to come up with innovative products to attract a consumer base.
Deep-dive Insights on Medical Footwear Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/medical-footwear-market