Medical Footwear Market size to grow by USD 2.41 billion from 2021 to 2026, Driven by the increasing awareness of health and foot-related concerns - Technavio

NEW YORK, March 29, 2023 /PRNewswire/ -- The global medical footwear market size is estimated to grow by USD 2.41 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 5.34% during the forecast period. The rising awareness of health and foot-related concerns is one of the key drivers supporting the medical footwear market growth. Hectic work schedules and increasing foot-related issues like ankle varus, arthritis, and others encourage people to opt for medical footwear to remain fit and avoid health concerns. Some of the benefits associated with the use of medical footwear include better support, foot pain that can be diminished by wearing medical shoes, and others. There are some factors that increase awareness regarding the health concerns and health benefits associated with medical footwear. These include recommendations from physicians/medical practitioners/doctors and physiotherapists, self-research conducted on health concerns, self-medication done by consumers, and others. Hence, growing awareness is a major trend fueling the growth of the market during the forecast period. For more insights on the forecast market size (2021 to 2026) - Request a sample report

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Medical Footwear Market – Market Dynamics

Leading trends influencing the market 

The surge in innovative product designs is one of the major medical footwear market trends that is contributing to the market growth. Customers are demanding more innovative and trendy product designs. Additionally, medical footwear manufacturers are also coming up with better-quality and trendy designs to cater to different customer needs. Many vendors in the market introduce new products to create product differentiation and value proposition for potential and prospective customers. The innovations in design allow the brands to maintain high brand associations with customers and hence, there is an increased availability of medical footwear with a wide variety of functions, designs, durability, and price to attract customers. Hence, innovative offerings are expected to drive market growth during the forecast period.

Major challenges hindering the market growth

Low product penetration and product affordability concerns in developing countries are major factors impeding the medical footwear market growth. The lack of technological exposure and exposure to digital media due to low internet penetration contributes to the low demand for medical footwear in rural areas and underdeveloped countries of the world. Premium pricing, coupled with the lack of product affordability among low-income segments in rural areas may impede the growth of the global medical footwear market. Vendors should educate customers about the benefits of medical footwear because knowledge and awareness of the uses and benefits of medical footwear will help vendors penetrate emerging markets during the forecast period. Hence, the lack of awareness and product penetration may hinder the market growth during the forecast period.

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Vendor Analysis

The market is characterized by the presence of large- and small-sized players with intense competition. Aetrex Worldwide Inc., Colfax Corp., Crocs Inc., Drewshoe Inc., Duna srl, Gravity Defyer Corp., New Balance Athletics Inc., OrthoFeet Inc., Podartis Srl, Propet USA Inc., Skechers USA Inc., Stradwin Pty Ltd., and Stryker Corp. are some of the major players in the market.

Medical Footwear Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on end-user (men and women), distribution channels (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth in the men's segment will be significant for the market growth during the forecast period. The demand for men's shoes is growing as these shoes are comfortable and fashionable. In addition to relieving foot pain, these shoes are presentable enough to be worn at work. They are available in different colors, including bark, beige, and others. A rising number of shopping malls across different countries is paving the way for the entry of many international medical footwear brands. Hence, the increasing number of international footwear brands will drive segment growth during the forecast period.

Geography Overview
By geography, the global medical footwear market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global medical footwear market.

• North America is estimated to account for 31% of the global market growth during the forecast period. The US is the key market for medical footwear in the region. However, market growth in this region is estimated to be slower than the growth of the market in South America. The growing demand for trendy medical footwear with advanced functionalities will facilitate the medical footwear market growth in North America over the forecast period. 

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What are the key data covered in this Medical Footwear Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the medical footwear market between 2022 and 2026
• Precise estimation of the size of the medical footwear market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the medical footwear market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of medical footwear market vendors

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Table of Contents 

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments
• Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
• Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)

• 5.2 Comparison by End-user 
• Exhibit 27: Chart on Comparison by End-user
• Exhibit 28: Data Table on Comparison by End-user

• 5.3 Men - Market size and forecast 2021-2026 
• Exhibit 29: Chart on Men - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on Men - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on Men - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Men - Year-over-year growth 2021-2026 (%)

• 5.4 Women - Market size and forecast 2021-2026 
• Exhibit 33: Chart on Women - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Women - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Women - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Women - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by End-user 
• Exhibit 37: Market opportunity by End-user ($ million)

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 38: Chart on Distribution Channel - Market share 2021-2026 (%)
• Exhibit 39: Data Table on Distribution Channel - Market share 2021-2026 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 40: Chart on Comparison by Distribution Channel
• Exhibit 41: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2021-2026 
• Exhibit 42: Chart on Offline - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Offline - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Offline - Year-over-year growth 2021-2026 (%)

• 6.4 Online - Market size and forecast 2021-2026 
• Exhibit 46: Chart on Online - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Online - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Online - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Online - Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 50: Market opportunity by Distribution Channel ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2021-2026 (%)
• Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2021-2026 
• Exhibit 56: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 58: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 59: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.4 Europe - Market size and forecast 2021-2026 
• Exhibit 60: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.5 APAC - Market size and forecast 2021-2026 
• Exhibit 64: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.6 South America - Market size and forecast 2021-2026 
• Exhibit 68: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 72: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.8 US - Market size and forecast 2021-2026 
• Exhibit 76: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.9 Germany - Market size and forecast 2021-2026 
• Exhibit 80: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.10 China - Market size and forecast 2021-2026 
• Exhibit 84: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.11 UK - Market size and forecast 2021-2026 
• Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 8.12 France - Market size and forecast 2021-2026 
• Exhibit 92: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on France - Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 Aetrex Worldwide Inc. 
• Exhibit 103: Aetrex Worldwide Inc. - Overview
• Exhibit 104: Aetrex Worldwide Inc. - Product / Service
• Exhibit 105: Aetrex Worldwide Inc. - Key offerings

• 11.4 Colfax Corp.
• Exhibit 106: Colfax Corp. - Overview
• Exhibit 107: Colfax Corp. - Business segments
• Exhibit 108: Colfax Corp. - Key news
• Exhibit 109: Colfax Corp. - Key offerings
• Exhibit 110: Colfax Corp. - Segment focus

• 11.5 Crocs Inc.
• Exhibit 111: Crocs Inc. - Overview
• Exhibit 112: Crocs Inc. - Business segments
• Exhibit 113: Crocs Inc. - Key news
• Exhibit 114: Crocs Inc. - Key offerings
• Exhibit 115: Crocs Inc. - Segment focus

• 11.6 Drewshoe Inc.
• Exhibit 116: Drewshoe Inc. - Overview
• Exhibit 117: Drewshoe Inc. - Product / Service
• Exhibit 118: Drewshoe Inc. - Key offerings

• 11.7 New Balance Athletics Inc. 
• Exhibit 119: New Balance Athletics Inc. - Overview
• Exhibit 120: New Balance Athletics Inc. - Business segments
• Exhibit 121: New Balance Athletics Inc. - Key offerings
• Exhibit 122: New Balance Athletics Inc. - Segment focus

• 11.8 OrthoFeet Inc.
• Exhibit 123: OrthoFeet Inc. - Overview
• Exhibit 124: OrthoFeet Inc. - Product / Service
• Exhibit 125: OrthoFeet Inc. - Key offerings

• 11.9 Podartis Srl
• Exhibit 126: Podartis Srl - Overview
• Exhibit 127: Podartis Srl - Product / Service
• Exhibit 128: Podartis Srl - Key offerings

• 11.10 Propet USA Inc.
• Exhibit 129: Propet USA Inc. - Overview
• Exhibit 130: Propet USA Inc. - Product / Service
• Exhibit 131: Propet USA Inc. - Key offerings

• 11.11 Skechers USA Inc.
• Exhibit 132: Skechers USA Inc. - Overview
• Exhibit 133: Skechers USA Inc. - Business segments
• Exhibit 134: Skechers USA Inc. - Key news
• Exhibit 135: Skechers USA Inc. - Key offerings
• Exhibit 136: Skechers USA Inc. - Segment focus

• 11.12 Stryker Corp.
• Exhibit 137: Stryker Corp. - Overview
• Exhibit 138: Stryker Corp. - Business segments
• Exhibit 139: Stryker Corp. - Key news
• Exhibit 140: Stryker Corp. - Key offerings
• Exhibit 141: Stryker Corp. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 142: Inclusions checklist
• Exhibit 143: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 144: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 145: Research methodology
• Exhibit 146: Validation techniques employed for market sizing
• Exhibit 147: Information sources

• 12.5 List of abbreviations 
• Exhibit 148: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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