The medical footwear market has exhibited strong growth, increasing from $9.87 billion in 2023 to $10.71 billion in 2024, at a compound annual growth rate (CAGR) of 8.5%. This growth is driven by factors such as an aging population, orthopedic conditions, post-surgery recovery needs, diabetic foot care requirements, and recommendations from podiatric specialists. The market is expected to continue its robust growth, reaching $14.89 billion by 2028, maintaining a CAGR of 8.6%. Future growth is fueled by rising health awareness, foot health education initiatives, the use of athletic footwear for injury prevention, increased foot surgeries, and cultural and lifestyle shifts. Key trends include the adoption of 3D printing technology for customization, the use of advanced materials for comfort and support, smart footwear technologies, stylish therapeutic shoe designs, and non-slip and slip-resistant soles.
Major Driver In The Medical Footwear Market
The rapid proliferation of foot-related ailments such as bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis is significantly fueling the expansion of the medical footwear market. Foot-related issues, which cause discomfort and pain, particularly afflict individuals with diabetes and pose significant public health challenges. A survey conducted by D López-López in 2021 revealed a notable increase in foot pathologies, ranging between 61 and 79%, highlighting the severity of the issue. Most prevalent among these ailments were bunions & hallux valgus, plantar fasciitis, Achilles tendonitis, and arthritis, prompting increased adoption of medical footwear solutions. The escalating incidence of foot-related issues underscores the growing demand for specialized footwear, driving the expansion of the medical footwear market beyond 2024.
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Medical Footwear Market Competitive Landscape
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., Propét USA Inc., Apex Foot Health Industries LLC
Key Medical Footwear Market Trend
Major companies operating in the medical footwear market are developing innovative products such as PPE footwear to gain a competitive edge in the market. PPE stands for Personal Protective Equipment. It refers to specialized equipment or clothing designed to protect individuals from potential hazards in the workplace or during specific activities. For instance, in June 2021, Gales, a US-based footwear company, launched Smart PPE Footwear designed exclusively for nurses, offering innovative antimicrobial, waterproof, slip-resistant shoes. Developed in collaboration with healthcare professionals, the footwear prioritizes comfort, safety, and affordability, addressing specific concerns such as infection exposure, easy cleaning, and stylish design. With a focus on comfort, protection, and low-maintenance design, the shoes include machine washable Ortholite insoles, antimicrobial material, and a lightweight XL Extralight technology.
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Medical Footwear Market Segmentation
The medical footwear market covered in this report is segmented –
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
By Geography:The regions covered in the medical footwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the medical footwear market in 2023.
The Medical Footwear Global Market Report 2024 furnishes information about the global medical footwear market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
