Medical Footwear Global Market Report 2024

Medical footwear is specially designed to meet the needs of individuals with various foot disorders and medical conditions such as diabetes, corns, heel spurs, cracks, and pain.

In the medical footwear market, the main product types are medical shoes and boots, medical sandals, and other items such as slippers, flip-flops, and insoles. Medical shoes and boots are designed for individuals with severe joint or foot pain, while medical sandals are used by those with diabetic foot pain. The market is segmented by application into diabetic shoes, arthritis shoes, bunions and hallux valgus shoes, and flat feet shoes. Medical footwear is sold through various channels, including direct sales, specialty stores, medical and healthcare centers, online retail, and mono-brand stores. It is available for both men and women.

The medical footwear market research report is one of a series of new reports from The Business Research Company that provides medical footwear market statistics, including medical footwear industry global market size, regional shares, competitors with a medical footwear market share, detailed medical footwear market segments, market trends and opportunities, and any further data you may need to thrive in the medical footwear industry. This medical footwear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The medical footwear market size has grown strongly in recent years. It will grow from $9.87 billion in 2023 to $10.71 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth during the historical period can be linked to an aging population, the prevalence of orthopedic conditions, the need for post-surgery recovery support, diabetic foot care requirements, foot pain management, and the recommendations made by podiatric professionals.

The medical footwear market size is expected to see strong growth in the next few years. It will grow to $14.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The projected growth in the forecast period is driven by various factors: the growing awareness of health issues related to feet, increased education on foot health, the use of athletic footwear to prevent injuries, a rise in foot surgeries, and shifts in cultural and lifestyle choices impacting footwear preferences. Notable trends expected during this period encompass the utilization of 3D printing technology for customizable footwear, the incorporation of advanced materials for enhanced comfort and support, the integration of smart technologies into footwear, the development of stylish designs for therapeutic shoes, and the focus on non-slip and slip-resistant soles in footwear products.

The rapid increase in the prevalence of foot-related issues such as bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis is playing a significant role in driving the growth of the medical footwear market. Foot-related issues generally cause pain and discomfort in the feet and are commonly observed in individuals with diabetes. Conditions such as bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis are particularly prevalent among these patients, leading to a higher demand for medical footwear as recommended by healthcare professionals. For example, a survey conducted by D Lopez-Lopez in 2021 reported a notable increase in the prevalence of foot pathologies, ranging from 61% to 79%, highlighting the significance of these issues as a public health concern. Many individuals surveyed experienced problems such as bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis. As a result, the rising prevalence of these foot-related conditions is a key driver behind the growth of the medical footwear market.

The increasing prevalence of diabetes is expected to drive the growth of the medical footwear market in the future. Diabetes is a chronic medical condition characterized by elevated levels of glucose (sugar) in the blood. Patients with diabetes use medical footwear to prevent complications, promote circulation, provide support, and reduce the risk of foot-related issues. For example, according to the International Diabetes Federation (IDF) in 2021, there were 537 million adults aged 20-79 suffering from diabetes worldwide, which is approximately 1 in 10 people. This number is projected to increase to about 643 million by 2030 and 783 million by 2045. Therefore, the increasing prevalence of diabetes is a key driver behind the growth of the medical footwear market.

Major companies in the medical footwear market are focusing on developing innovative products, including Personal Protective Equipment (PPE) footwear, to gain a competitive edge. PPE refers to specialized equipment or clothing designed to protect individuals from potential hazards in the workplace or during specific activities. For example, in June 2021, Gales, a US-based footwear company, introduced Smart PPE Footwear tailored for nurses. This line features innovative antimicrobial, waterproof, and slip-resistant shoes designed in collaboration with healthcare professionals. The footwear prioritizes comfort, safety, and affordability, addressing concerns such as infection exposure, easy cleaning, and stylish design. The shoes are designed for comfort, protection, and low maintenance, incorporating features such as machine washable Ortholite insoles, antimicrobial materials, and lightweight XL Extralight technology.

Major companies in the medical footwear market are embracing a strategic partnerships approach to address diverse medical needs through advanced technologies and specialized designs. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in February 2022, DARCO International Inc., a US-based medical footwear company, collaborated with Sensoria Health Inc., a US-based wearable technology company, to develop a line of smart diabetic footwear. This innovative footwear integrates Sensoria's smart boot technology with pressure sensors and cloud-based monitoring capabilities. The partnership's goal is to enhance early detection and intervention for diabetic foot wounds, offering a comprehensive solution to reduce the risk of amputations and improve patient outcomes. The incorporation of connected footwear aligns with the Centers for Medicare & Medicaid Services' emphasis on remote patient monitoring in diabetic care, reflecting a commitment to advancing patient care through technology-driven solutions.

In June 2023, Careismatic Brands, Inc., a US-based medical apparel company, acquired BALA footwear for an undisclosed sum. This acquisition marks a significant milestone in Careismatic's mission to provide exceptional products tailored to the needs of healthcare providers worldwide. The Careismatic team is excited to introduce BALA footwear to its customers and work towards their shared vision of improving the well-being of those committed to caring for others. BALA footwear, based in the US, specializes in dynamic, high-performance shoes designed specifically for healthcare professionals.

Major companies operating in the medical footwear market report are New Balance Athletics Inc., Crocs Inc., Wolverine Worldwide Inc., The Timberland Company, Rockport Company LLC, Dansko LLC, Sanita Clogs Inc., DJO LLC (Dr. Comfort), Orthofeet Inc., Aetrex Worldwide Inc., Vionic Group LLC, Gravity Defyer Corp., Drew Shoe Corporation, Alegria Shoe Shop LLC, Nurse Mates Inc., Darco International Inc., Dr. Foot Inc., Duna Co. Ltd., Extro Style LLC, Horng Shin Footwear Co. Ltd., Hush Puppies Worldwide Inc., Klogs Footwear Inc., Novamed s.r.o., SAS Shoes Inc., Watts Footwear Inc., Zen Products Inc., Dr. Zen Inc., Propet USA Inc., Apex Foot Health Industries LLC

North America was the largest region in the medical footwear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical footwear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the medical footwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The medical footwear market consists of sales of wide-fitting shoes, shoes with extra strong heels, padded tongues, or removable footpads, and shoes for fallen arches. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Medical Footwear Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on medical footwear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for medical footwear ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medical footwear market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Medical Shoes & Boots; Medical Sandals; Other Products
• 2) By Sales Channel: Direct Sales of Medical Footwear; Footwear Specialty Stores; Medical & Healthcare Centers; Online Retailers of Medical Footwear; Mono-Brand Stores; Other Sales Channels
• 3) By Application: Diabetic Shoes; Arthritis Shoes; Bunions & Hallux Valgus Shoes; Flat Feet Shoes; Other Applications
• 4) By End User Sex: Men; Women
• Companies Mentioned: New Balance Athletics Inc.; Crocs Inc.; Wolverine Worldwide Inc.; The Timberland Company; Rockport Company LLC
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.