Global Medical Footwear Market By End User (Men and Women), By Distribution Channel (Online and Offline), By Region, Industry Analysis and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Medical Footwear Market
Market Report Description
The Global Medical Footwear Market size is expected to reach $12.4 billion by 2026, rising at a market growth of 8.1% CAGR during the forecast period. The growing number of foot-related problems, for example, plantar fasciitis, bunions, arthritis, foot and ankle wounds, corns, and flat feet, because of inadequately fitting shoes, is a leading factor boosting the market. As per the American Podiatric Medical Association (APMA) 2019, in the U.S., approx. 77% of Americans have experienced foot problems and related issues.
Medical Footwear Market Size, By End User, 2020-2026
Utilization of ill-fitted shoes for a longer timeframe for regular walks or running can cause sprains, strains, or injury in the feet, which can restrict the wearers' mobility to perform everyday activities. The more these conditions are left untreated, the more awful the pain and uneasiness become for the individuals. However, increasing awareness with respect to the advantages of medical footwear among consumers is anticipated to boost the item demand. This footwear offers cushion to the complete foot, giving it the support to the wearer to move independently.
Medical Footwear Market Share, By Distribution Channel, 2019
Furthermore, patients with diseases such as diabetes are among the main consumers of therapeutic footwear to cure ankle and foot. Insufficiently controlled blood sugar on account of these patients can harm various parts of the body, including the nerves and vessels that go to the feet, which makes them more prone to create feet issues and a condition called neuropathy. Medical footwear is explicitly designed shoes that can assist with reducing risk and advance healthy blood circulation, mobility, and support to the feet.
The outbreak of COVID-19 (Corona Virus) pandemic has seriously affected the footwear business, including medical footwear, with a decrease in demand due to closures of the store, lockdown guidelines, and limitation in imports and exports at the worldwide level. Information related to Sales noted for Amazon between mid-February and mid-March in the year 2020 indicated that the sales of footwear dropped by an average of 40 percentage points. Customers have become more aware of their spending habits and will mostly buy only essential items, which is a significant challenge for the market.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 8.1 Billion |
| Market size forecast in 2026 | USD 12.4 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 8.1% from 2020 to 2026 |
| Number of Pages | 126 |
| Number of Tables | 240 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | End User, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Medical Footwear Market to reach a market size of $12.4 Billion by 2026
Based on End User, the market is segmented into Men and Women. Based on Distribution Channel, the market is segmented into Online and Offline. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stryker Corporation, Colfax Corporation (Dr. Comfort), Dr. Zen, Inc., Gravity Defyer Corporation, Duna Srl, Aetrx Worldwide, Inc., Drew Shoe Corporation, New Balance, Inc., Dr. Foot, Inc., and Podartis Srl.
Scope of the Medical Footwear Market Analysis
Market Segmentation:
By End User
- Men
- Women
By Distribution Channel
- Online
- Offline
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Stryker Corporation
- Colfax Corporation (Dr. Comfort)
- Dr. Zen, Inc.
- Gravity Defyer Corporation
- Duna Srl
- Aetrx Worldwide, Inc.
- Drew Shoe Corporation
- New Balance, Inc.
- Dr. Foot, Inc.
- Podartis Srl
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Medical Footwear Market Related Reports:
Q1. How valuable the medical footwear market be in the future?
The global medical footwear market size is expected to reach $12.4 billion by 2026.
Q2. What are the key factors that drive medical footwear industry?
The major factors that are anticipated to drive the medical footwear industry include increasing awareness about Foot-related concerns.
Q3. Which segment shows high revenue share of the medical footwear market in 2019?
The market is dominated by Offline distribution channels and represented maximum share of market revenue in 2019.
Q4. Who are the leading players in medical footwear market?
Stryker Corporation, Colfax Corporation (Dr. Comfort), Dr. Zen, Inc., Gravity Defyer Corporation, Duna Srl, Aetrx Worldwide, Inc., Drew Shoe Corporation, New Balance, Inc., Dr. Foot, Inc., and Podartis Srl.