LONDON--(BUSINESS WIRE)--The global medical footwear market is expected to post a CAGR of over 8% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is increasing awareness of health and foot-related concerns. Hectic work schedules and increasing foot-related issues, such as ankle varus, arthritis, bunions, hammertoes, metatarsalgia, pes cavus, pes planus, and plantar fasciitis, are encouraging people to opt for medical footwear to remain fit and avoid health concerns. Thus, with rising problems and with manufacturers coming out with medical footwear, the global market is expected to witness optimistic revenues during the forecast period.
This market research report on the global medical footwear market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the surge in innovative product designs as one of the key emerging trends in the global medical footwear market:
Global medical footwear market: Surge in innovative product designs
Although the scope for innovation is limited in this market, vendors are continuously investing in R&D activities to innovate and launch new products. With increasing consumer demand for more innovative and trendy product designs, medical footwear manufacturers are coming up with better-quality new and trendy designs to cater to different customer needs. Moreover, the prominent vendors in the market are introducing new products to create product differentiation and value proposition for potential and prospective customers. Also, the innovation in designs not only allows brands to maintain high brand associations with customers but also drives the growth of the overall market during the forecast period.
“With benefits such as better support, proper circulation of blood flow, and diminished pain, the sale of medical shoes is increasing due to increasing adoption of these shoes and thus this factor is expected to contribute largely to the medical footwear industry during the forecast period,” says a senior analyst at Technavio for research on apparel and textile.
Global medical footwear market: Segmentation analysis
This market research report segments the global medical footwear market by end-user (men and women) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share close to 41%, followed by EMEA and APAC respectively. However, during the forecast period, the region of APAC is expected to have the highest incremental growth, while the other two regions are expected to witness a decline in their market shares over the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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