ORTHOPEDIC FOOTWEAR MARKET ANALYSIS
Orthopedic Footwear Market – Regional Analysis
On the basis of region, the global orthopedic footwear market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global orthopedic footwear market, owing to rising incidence of planter fasciitis in the region. For instance, in December 2017, according to American Journal of Orthopedics, around 10% of the U.S. population experiences bouts of heel pain, which results in 1 million visits per year to medical professionals for the treatment of plantar fasciitis. The annual cost of treatment for plantar fasciitis is estimated to be between US$ 192 Mn and US$ 376 Mn.
Increasing awareness about foot-related disorders among people in Asia Pacific is expected to fuel the market growth in this region. Moreover, acquisitions by key players in this region is expected to drive growth of the market. For instance, in January 2016, In’Tech Medical SAS, a world leader in contract manufacturing of surgical instruments in orthopedics, acquired Ortho Solutions Sdn Bhd, a premier Asian contract manufacturer of orthopedic implants and instruments. The acquisition aimed to provide In’Tech Medical Group with a well-established platform to enter the Asia Pacific markets.
Orthopedic Footwear Market Report Snapshots
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