Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Medical Footwear Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The worldwide medical footwear market has achieved substantial growth, leaping from $9.04 billion in 2022 to a remarkable $9.72 billion in 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 7.5%.
Amidst the complex backdrop of the Russia-Ukraine war, global economic recovery efforts post the COVID-19 pandemic have encountered disruptions in the short term.
The ongoing conflict between Russia and Ukraine has sparked a series of economic sanctions, triggering a surge in commodity prices, disruptions in supply chains, and consequential inflation across the goods and services sectors worldwide. Nevertheless, the medical footwear market stands resilient, with projections indicating it will ascend to a valuation of $13.04 billion by 2027, reflecting a projected CAGR of 7.6%.
The "Medical Footwear Global Market Report 2023" is an invaluable addition to ResearchAndMarkets.com's comprehensive suite of reports, offering critical statistics for the medical footwear market.
This encompasses global market size within the medical footwear industry, regional market shares, insights into competitors' market presence, detailed market segments, emerging trends, opportunities, and any additional indispensable data to prosper in the medical footwear sector. The report furnishes a complete perspective, encompassing both the current and prospective landscapes of the industry.
Spotlight on Trend: Technological Advancements in Medical Footwear
A significant trend in the medical footwear market is the prominence of technological advancements. Notable companies in the medical footwear sector are dedicating resources to innovate new technological solutions to bolster their market position.
For instance, in March 2020, global brand Nike introduced the Nike Adapt Auto Max, a groundbreaking smart shoe model. These shoes offer continual performance updates through their digital app and opt-in firmware updates, creating a symbiotic relationship between the app and the shoe.
This technology allows consumers to track their daily workouts by linking the shoes with their mobile devices. Other companies such as MI and Under Armor are also poised to launch their smart shoes in the market. Examples include the MI - Mijia Smart Shoes and Under Armor - UA HOVR Sonic 3.
Diverse Market Products and Empowering Strategic Decision-Making
The medical footwear market encompasses a diverse range of products, from wide-fitting shoes to footwear with extra-strong heels, padded tongues, removable footpads, and options for fallen arches. Market values encapsulate the 'factory gate' values – the worth of goods sold by creators to various entities, including wholesalers, retailers, and end consumers. This value accounts for related services offered by the creators.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Empower Your Decisions with "Medical Footwear Global Market Report 2023"
The "Medical Footwear Global Market Report 2023" equips strategists, marketers, and senior management with indispensable insights to evaluate market dynamics. The report delves into the medical footwear market's growth trajectory and evolving trends, offering a comprehensive overview of the trends shaping the market's future.
Reasons to Choose "Medical Footwear Global Market Report 2023":
- Gain a comprehensive global perspective covering 50+ geographies.
- Understand COVID-19's impact and the market's response.
- Analyze the Russia-Ukraine war's implications on commodity supply and market dynamics.
- Gauge the influence of global inflation on market growth.
- Develop strategic regional and country approaches using localized data and analysis.
- Identify high-potential growth segments for strategic investments.
- Leverage forecast data to navigate market trends and surpass competitors.
- Acquire consumer insights through the latest market shares.
- Evaluate your performance against key industry competitors.
- Leverage trustworthy, high-quality data and analysis for impactful presentations.
A selection of companies mentioned in this report includes
- Dr. Foot Inc.
- Aetrex Worldwide Inc.
- Orthofeet
- Duna
- Darco International Inc.
- Dr. Zen Inc.
- Gravity Defyer Corp.
- DJO LLC(Dr.Comfort)
- Horng Shin Footwear Co.
For more information about this report visit https://www.researchandmarkets.com/r/4k9mew
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