Orthopedic Footwear Market - Regional Analysis
North American Market Insights
The North America industry is likely to account for largest revenue share of 35% by 2035. 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 Insights
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.
