Orthopaedic Footwear Market

Global Orthopaedic Footwear Market Size (2023 to 2028)

The size of the global orthopedic footwear market is estimated to be worth USD 7.29 billion by 2028 from USD 4.24 billion in 2023, growing at a CAGR of 11.48% from 2023 to 2028.

Global Orthopaedic Footwear Market Share Insights:

• Based on type, the flatfoot orthopedic shoe segment had the major share of the global market in 2022.
• Based on region, North America dominated the market in 2022.

Impact of COVID-19 on the global orthopaedic footwear market:

The COVID-19 pandemic impacted the manufacturing and sales of orthopaedic footwear around the world. Many footwear brands suffered a significant drop in sales due to the lockdowns and restricted travel. As orthopaedic footwear is relatively expensive, people's reduced disposable incomes due to financial uncertainty forced them to switch to affordable alternatives, affecting market growth negatively. The delay in non-essential medical services, including orthopaedic consultations and prescriptions, temporarily reduced the demand for orthopaedic footwear as individuals postponed seeking treatment for their foot conditions. In addition to that, the supply chain disruptions affected the production schedule due to a shortage of raw materials.

However, the pandemic also impacted the market positively as it increased awareness among people regarding the importance of health and well-being. The demand for orthopaedic footwear increased, which led to a surge in online shopping. Orthopaedic footwear brands and retailers with a solid online presence and e-commerce capabilities experienced a surge in sales as customers started ordering stuff from the convenience of their homes.

MARKET DRIVERS:

The growing prevalence of the geriatric population, especially in developed nations majorly propel the growth of the orthopedic footwear market. This is because the senior population is more prone to orthopaedic disorders related to legs, ankles, and feet. Therefore, the global ageing populace will drive market growth significantly in the upcoming years. It is predicted that the world’s population aged 60 and above will double by 2025 leading to more support for the growth of the market.

The rising number of foot-related ailments, such as arthritis, diabetes, and plantar fasciitis drive the demand for orthopaedic footwear and boost the market growth. As the population ages and the awareness of orthopaedic conditions grows, the market for orthopaedic shoes is likely to expand.

Technological advancements further fuel the growth rate of the orthopedic footwear market. Technological advancements have enabled companies to launch orthopaedic footwear in a variety of designs and styles globally. Also, it has improved manufacturing techniques that have led to the development of innovative footwear with enhanced support and comfort. The use of 3D printing and advanced cushioning materials are further driving market growth. As people are becoming more conscious of the importance of foot health, they are increasingly adopting orthopaedic footwear. Therefore, this increased awareness is driving the demand for orthopaedic footwear as individuals seek preventive measures and solutions for foot-related problems.

MARKET RESTRAINTS:

High cost associated with orthopaedic footwear is one of the significant impediments to the market growth. This segment tends to be more expensive than regular footwear due to the use of specialised materials, design, and manufacturing processes involved. It can become difficult for price-sensitive customers to afford this special footwear. A few years before, only a few designs were available in the orthopaedic footwear segment that was not fashionable or trendy. While efforts are being made to develop more stylish options, the perception of limited availability of design choices can restrain some consumers. Despite growing awareness, some segments of the population in rural or underdeveloped areas may not be aware of the benefits and availability of orthopaedic footwear. Therefore, limited awareness can hinder the market growth. In addition, rural areas and developing nations might face challenges related to the accessibility to orthopaedic footwear options.

REPORT COVERAGE: 

This research report on global orthopedic footwear market has been segmented and sub-segmented based on the following categories.

Global Orthopaedic Footwear Market – By Type

• Flatfoot Orthopaedic Shoes
• Cavus Orthopaedic Shoes
• Calcaneal Spur Orthopaedic Shoes
• Varus Orthopaedic Shoes and Valgus Orthopaedic Shoes
• Other

Based on the product type, the flatfoot orthopaedic shoe segment accounts for the largest share of the global market in 2022 and is expected to grow during the forecast period owing to the high comfort and support that comes with these shoes. They offer stability, cushioning, and shock absorption in high-stress areas to enhance walking ability, which are further contributing to the growth rate of the flatfoot orthopedic shoe segment in the global market.

Global Orthopaedic Footwear Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

North America is dominant in the global orthopaedic footwear market among all the regions. The rising incidences of foot and orthopaedic disorders in the North America region primarily drive the North American market growth. For instance, according to the American Journal of Orthopaedics, around 10% of the US population experienced bouts of heel pain in December 2017, resulting in 1 million visits per year to medical professionals for the treatment of plantar fasciitis. In addition to that, the presence of key market players in the region, favourable reimbursement policies and available funding by federal and state governments are expected to significantly fuel the demand for orthopaedic footwear in the upcoming years.

However, Asia Pacific is likely to witness the highest growth in the orthopaedic footwear market over the forecast period due to the fast-increasing awareness among people about the importance and availability of orthopaedic footwear that caters to different foot-related disorders. Moreover, mergers and acquisitions by key regional players are expected to drive the growth of the market. For instance, in January 2016, Ortho Solutions Sdn Bhd, a leading Asian contract manufacturer of orthopaedic implants and instruments, was bought by In Tech Medical SAS, a global leader in the contract production of surgical equipment in orthopaedics. With the acquisition, In Tech Medical Group would have a solid foundation from which to explore the Asia Pacific markets.

KEY MARKET PLAYERS:

Duna, Orthofeet Inc., New Balance, Mephisto, Dr. Comfort, Propet, Drew Shoe, Aetrex Worldwide, Inc. and DJO LLC are some of the major players in the global orthopedic footwear market.

RECENT HAPPENINGS IN THE MARKET:

• In May 2023, with an unswerving focus on customer satisfaction and a vision for continuous innovation, Hyper Arch Motion Sneakers is set to take the fashion world by storm. They collaborated with Swiss shoe designers and painstakingly designed a shoe over two years that addressed the most common foot pain issues and embodied the spirit of modern, high-fashion aesthetics.
• In May 2023, ROANOKE, the world’s leading provider of custom-crafted, flexible orthotics, announced its new releases for Summer 2023, including custom orthotic sandals and flip-flops that offer fashionable comfort and support all season long and the ParFlex Plus Orthotic for Golfers, which can increase club-head velocity (CHV) by up to seven percent.
• In February 2023, OrthoRest, an established Indian brand, recently launched its exquisite new range of cork sandals for both male and female customers looking for both comfort and style, as their footbed is lightweight, shock-absorbing, and flexible.
• In March 2023, the first marketplace for AI-selected running shoes and in-soles was launched by Neatsy.ai, an American company helping consumers in selecting shoes according to their orthopaedic difficulties.