Orthopedic Footwear Market size was over USD 3.97 Billion in 2023 and is anticipated to exceed USD 14.2 Billion by the end of 2036, witnessing over 10.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of orthopedic footwear is evaluated at USD 4.34 Billion. The major driving growth factors for this market are is increasing population with chronic diseases and pain. Orthopedic shoes are specially designed for people with deformities in the foot and ankle. They help to provide support to muscles and joints and help reduce pain while walking or standing. According to our research, at least one in four older people is affected by foot pain around the world.
In addition, the increased interest in participating in physical activities like walking, jogging, and playing sports is anticipated to open up a lot of chances for orthopedic footwear market expansion in the years to come. The World Health Organization (WHO) recommends that persons between the ages of 18 and 64 engage in at least 150–300 minutes of moderate-intensity or 75–150 minutes of vigorous-intensity aerobic physical activity each week
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
10.3% |
|
Base Year Market Size (2023) |
USD 3.97 Billion |
|
Forecast Year Market Size (2036) |
USD 14.2 Billion |
|
Regional Scope |
|
Product (Slippers, Sandals, Shoes)
The shoes segment is estimated to hold 45% share of the global orthopedic footwear market by the end of 2036. Orthopedic shoes are used to provide support to flat feet. In addition, there are numerous benefits of orthopedic shoes such as shock absorption, stability, and high ability to walk as well as distributing weight evenly, this segment is predicted to grow in the market during the forecasted period.
Indication (Diabetes & Edema, Arthritis, Flat Feet, Heel Pain)
The diabetes & edema segment in the orthopedic footwear market is set to garner the highest gain in the upcoming years with 47%. This segment is said to be increasing the market growth owing to the rising cases of diabetes worldwide as diabetes results in swollen feet. According to the International Diabetes Federation, around 700 million people are predicted to suffer from diabetes by 2045. Moreover, an increase in the number of diabetic patients in developing countries anticipates the demand for orthopedic footwear and diabetic footwear across the globe. The bulk of the approximately 422 million individuals with diabetes globally reside in low- and middle-income nations, and diabetes is directly responsible for 1.5 million fatalities annually.
Our in-depth analysis of the global orthopedic footwear market includes the following segments:
|
Product |
|
|
End User |
|
|
Distribution Channel |
|
|
Indication |
|
North American Market Forecast
The North America orthopedic footwear market is anticipated to register the highest revenue of 35% by the end of 2036. One of the main reasons for the growth of this market in the particular region is an increase in the number of geriatric populations, as they are highly prone to numerous diseases. In addition, during this age, people usually require tailored products that are suitable to them according to their needs. Moreover, there has been a surge in the number of keyhole orthopedic surgeries, as well as a rise in the research and development for better products in countries such as the United States. There are approximately 25,500 orthopedic surgeons practicing in the United States, according to the American Academy of Orthopaedic Surgery. Also, the older population increased by 50.9 million, from 4.9 million (or 4.7% of the total U.S. population) in 1920 to 55.8 million (16.8%) in 2020. This represents a growth rate of about 1,000%, almost five times that of the total population (about 200%).
APAC Market Statistics
The orthopedic footwear market in Asia pacific is estimated to garner the second-largest revenue with a 28% share in the market. The growth of the market is anticipated to increase because of the developing healthcare infrastructure. Moreover, there has been an increasing investment by key players in the manufacturing of orthopedic footwear. In this region, people are opting for regular check-ups in order to keep themselves fit in different stages of life.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?