Market Trends of Plantar Fasciitis Treatment Industry
This section covers the major market trends shaping the Plantar Fasciitis Treatment Market according to our research experts:
Orthotic Devices Segment Expected to Have Significant Growth Over the Forecast Period
Orthotic devices, also called orthoses, are the type of braces that help in supporting weakened muscles while running and walking. They also improve comfort and help in slowing the progress of contractures (tightened muscles or tendons that become shorter over time).
As per the World Population Prospects 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12. Thus, the increasing geriatric population is expected to suffer from various musculoskeletal diseases such as plantar fasciitis, and thereby orthotic devices are expected to see a surge over the forecast period.
Moreover, there were strict guidelines specific to each specialty that had to be implemented and followed for orthopedic surgeons to be able to continue to provide safe and effective care to their patients during the COVID-19 pandemic. For instance, in March 2021, in the United States, the National Association for the Advancement of Orthotics and Devices (NAAOP) issued an alert in which it was made clear that during the COVID-19 national emergency, state and local health authorities should consider orthotic and prosthetic practices as essential providers that must remain accessible to patients in need of orthotic and prosthetic care.
Hence, to reach consumer requirements, market players are focussing on developing various novel and technologically advanced Orthotic devices, which are anticipated to propel the overall market.
North America Expected to Have Healthy Growth in the Plantar Fasciitis Treatment Market Over the Forecast Period
North America holds a significant market share in the plantar fasciitis treatment market, and it is expected to withstand its position over the forecast period. The diagnosis and prevalence rates of plantar fasciitis are growing rapidly in the region. Additionally, the rise in the number of obese people in the United States and changing lifestyles are also driving the plantar fasciitis treatment market in North America.
As per the National Clinical Trials (NCT) registry, as of September 2022, there were about 42 recruiting clinical trials across different phases of development for the treatment of plantar fasciitis in the United States.
Moreover, as per OECD data updated in 2022, obesity and weight issues are well-known problems in modern societies worldwide. In the United States, this problem is severe, with an extremely high prevalence of obesity among both males and females. This issue is often related to the American lifestyle, in which fast food and large serving sizes are common. Differences in the obesity rate in the United States can be seen between different ethnic groups, regions, genders, and ages. Around 42% of all African American adults were classed as being obese, compared to 36% of Hispanics and just 13% of Asian/Pacific Islanders. That same year, Mississippi was reported to have the highest share of its population that was obese among all US states, with an incredible 40% of adults in Mississippi self-reporting that they were obese. The least obese states include Colorado, Massachusetts, and Hawaii. Thus, the high obesity in the region is expected to increase the number of people suffering from plantar fasciitis in the United States. Therefore, the market is expected to see a surge over the forecast period.
