Major Players Bayer, Pfizer, and Novartis Propel Global Plantar Fasciitis Treatment Market to 2032

Dublin, July 24, 2023 (GLOBE NEWSWIRE) -- The "Plantar Fasciitis Treatment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The market is projected to grow from $1.08 billion in 2022 to $1.35 billion in 2023, at a compound annual growth rate (CAGR) of 24.9%. Furthermore, the market is expected to reach $3 billion by 2027, with a CAGR of 22.8%.

Major players in the plantar fasciitis treatment market include Bayer AG, Superfeet Worldwide LLC, Bauerfeind AG, Ottobock SE & Co. KGaA, Shapecrunch Technology Pvt. Ltd., Pfizer Inc., Hanger Inc., A. Algeo Limited, Sanofi S.A., Glaxosmithkline Plc., 3M, Recover Sports Medicine, Orthobethesda, Apothecary Products LLC, Ellis & Badenhausen, Synxsole Pty Ltd., and Revance Therapeutics Inc.

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Plantar fasciitis treatment involves medical care or preventive measures to address the incidence and frequency of a degenerative condition affecting the thick band of tissue at the base of the foot. Physical therapy plays an essential role in the treatment of plantar fasciitis.

The main types of plantar fasciitis treatment are medication therapy, orthotics, shockwave therapy, surgery, and others. Medication therapy involves the treatment of illnesses or diseases through prescription or non-prescription medicines, over-the-counter medications, and herbal medications. It can be diagnosed through medical history, physical examination, X-rays, radiography, and more, and is used by hospitals, clinics, and other medical facilities.

Technological advancements are a key trend gaining popularity in the plantar fasciitis treatment market. Major companies operating in the market are developing and implementing new technologies to revolutionize the treatment of plantar heel pain and expanding their geographic presence to maintain a competitive edge.

For instance, in December 2022, ZetrOZ Systems, a US-based ultrasound technology manufacturing company, introduced the Sam X1, the only wireless ultrasound device with FDA certification for at-home usage. The Sam X1 wireless unit can be used as a regenerative treatment alternative for soft tissue injuries and plantar fasciitis to promote cellular proliferation without the use of drugs or surgery. It has been proven effective in treating a wide range of injuries, including plantar fasciitis. This technological innovation will advance the field of plantar fasciitis treatment.

Additionally, in October 2022, Patient Square Capital, a US-based health care investment firm, acquired Hanger Inc. for approximately $1.25 billion. This acquisition is expected to assist Hanger in future growth initiatives to provide patients with innovative and high-quality care. Hanger Inc. is a US-based medical device manufacturing company that provides ankle-foot orthoses (AFO) as a treatment for plantar fasciitis.

North America was the largest region in the plantar fasciitis treatment market in 2022, with Asia-Pacific expected to experience significant growth. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Key countries analyzed in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

A rise in obesity is expected to propel the growth of the plantar fasciitis market going forward. Obesity poses a risk to health due to abnormal or excessive fat buildup. Overweight is defined as a body mass index (BMI) of 25 or greater, while obesity is defined as a BMI of greater than 30.

Individuals with a normal weight have a significantly lower chance of acquiring plantar fasciitis compared to those with a BMI of 30 or higher. For instance, according to a report shared by Forbes in January 2023, the obesity rate in the United States increased by 3% between March 2020 and March 2021 during the COVID-19 pandemic. This rise in obesity is driving the growth of the plantar fasciitis market.

The plantar fasciitis treatment market includes revenues earned by entities providing extracorporeal shock wave therapy (ESWT), intracorporeal pneumatic shock wave therapy (IPST), inflammation-related pain drugs, and non-operative treatments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Key Attributes:

Key Topics Covered:

1. Executive Summary

2. Plantar Fasciitis Treatment Market Characteristics

3. Plantar Fasciitis Treatment Market Trends And Strategies

4. Plantar Fasciitis Treatment Market - Macro Economic Scenario
4.1. COVID-19 Impact On Plantar Fasciitis Treatment Market
4.2. Ukraine-Russia War Impact On Plantar Fasciitis Treatment Market
4.3. Impact Of High Inflation On Plantar Fasciitis Treatment Market

5. Plantar Fasciitis Treatment Market Size And Growth
5.1. Global Plantar Fasciitis Treatment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Plantar Fasciitis Treatment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Plantar Fasciitis Treatment Market Segmentation
6.1. Global Plantar Fasciitis Treatment Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Medication Therapy
• Orthotics
• Shockwave Therapy
• Surgery
• Other Types

6.2. Global Plantar Fasciitis Treatment Market, Segmentation By Diagnosis, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Medical History
• Physical Examination
• X-Rays
• Radiography
• Other Diagnosis

6.3. Global Plantar Fasciitis Treatment Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Hospitals
• Clinics
• Other End Users

7. Plantar Fasciitis Treatment Market Regional And Country Analysis
7.1. Global Plantar Fasciitis Treatment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Plantar Fasciitis Treatment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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• Global Plantar Fasciitis Treatment Market