Medical Footwear Market Scope
Medical Footwear is medical device used in the conservative treatment of foot and lower limb path mechanics. These footwear are manufactured using custom fabricated or prefabricated device that are based on a medical prescription on containing the specific design characteristics as recognized by the medical practitioner. According to a secondary source, in 2019 about 77% of Americans have encountered foot disorders and related issues. Moreover, as per 2018 guideline by Diabetic Foot Australia, it was demonstrated that specific footwear interventions prevent diabetic foot ulcers. Increasing consumption of medical footwear from aged population is driving the market size.
According to AMA, the Global Medical Footwear market is expected to see growth rate of 6.01%
DARCO International, Inc. (United States), DJO, LLC (Dr.Comfort) (United States), Gravity Defyer Corp (United States), Drew Shoe (United States), Horng Shin Footwear Co. (Vietam), Aetrex Worldwide, Inc. (United States), Dr. Foot Inc. (Canada), OrthoFeet (United States), Podartis srl (Italy), Dr. Zen, Inc. (United States), Duna srl (Italy), Mephisto (United States), New Balance (United States) and Apex Foot Health, Inc. (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Medical Footwear market by Type (Shoes & Boots, Sandals and Others {Slippers, Flip-flops, Insoles}), by Application (Diabetic Shoes, Arthritis Shoes, Bunions & Hallux Valgus Shoes, Flat Feet Shoes and Others) and Region with country level break-up.
On the basis of geography, the market of Medical Footwear has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In September 2019, Baretraps launched comfortable shoes with Posture+ technology that help the wearer to correct the posture and reduce strain and pressure on knees, toes, and ankle.
Market Trend
- Rising Use of Insoles in Causal Footwear
Market Drivers
- Growing Number Of Foot-Related Issues
- Increasing Cases Of Diabetes
- Increasing Consumption from Aged Population
Opportunities
- Growth Of The E-Commerce Industry
- Increasing technological innovation and product launches
Restraints
Challenges
- Availability of Counterfeit Products
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Medical Footwear Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Users