Market Analysis: Global Plantar Fasciitis Treatment Market
Plantar fasciitis treatment market is expected to rise to an estimated value of USD 980.40 million by 2026, registering a steady CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the high prevalence of patients suffering from plantar fasciitis globally, along with presence of geriatric population which are more prone to suffer from this disorder.
Market Definition: Global Plantar Fasciitis Treatment Market
Plantar fasciitis is one of the most common causes of injuries associate with the foot. It affects the heel portion of the foot and is associated with resulting of tenderness of the sole. It is a type of inflammation of the muscle of the sole. It is highly prevalent in people who stand for long periods of time on hard surfaces.
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Market Drivers
• Increasing availability of technically advanced product offerings and solutions for treatment of the disease; this factor is expected to fuel the growth of the market
• Rising incidences of obesity is also expected to drive the growth of the market
• Increasing prevalence and adoption of orthotics method of treatment prescribed by various healthcare facilities; this factor is expected to propel the growth of the market
• Unique & customized product designs for each individual designed to fit in a highly accurate nature can also drive the market growth
Market Restraints
• Lack of stable raw materials pricing for the production of effective therapeutic medical devices is expected to hinder the growth of the market
• Concerns regarding decline of profitability ratio for the products amid availability of large inventory and raw material stock with the manufacturers is expected to restrict the market growth
Segmentation: Global Plantar Fasciitis Treatment Market
By Type
• Medication Therapy
o Oral
o Parenteral
• Orthotics
• Shockwave Therapy
o Extracorporeal Shock Wave Therapy (ESWT)
o Intracorporeal Pneumatic Shockwave Therapy (IPST)
• Surgery
• Others
By End-User
• Hospitals
• Clinics
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Italy
o U.K.
o France
o Spain
o Netherlands
o Belgium
o Switzerland
o Turkey
o Russia
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia
o Singapore
o Malaysia
o Thailand
o Indonesia
o Philippines
o Rest of Asia-Pacific
• South America
o Brazil
o Rest of South America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa
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Key Developments in the Market:
• In January 2018, Revance Therapeutics, Inc. announced the interim Phase2a results for their neuromodulator “DaxibotulinumtoxinA for Injection” tested for the treatment of plantar fasciitis. The clinical trial’s primary endpoint showed massive reduction in pain providing pain relief to patients in comparison to placebo group. The trial also signified early and safe method of treatment with any adverse events only of a mildly severe category. The company also signified their plans to conduct a modified Phase2a trial before carrying forward to Phase2b
• In February 2017, Wiivv announced that they had raised USD 4 million in Series A funding and acquisition of eSoles which will enable the company to divulge into custom-fit footwear. This expansion of the organization will enable them to undergo greater innovations and propel them to establish themselves as the leader of custom-fit footwear. This acquisition gives Wiivv a database of around 50,000 3D foot scans which can help them produce insoles with high levels of accuracy
Competitive Analysis:
Global Plantar fasciitis treatment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of plantar fasciitis treatment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors:
Few of the major competitors currently working in the global plantar fasciitis treatment market are Bayer; SUPERFEET WORLDWIDE, INC.; Bauerfeind; Ottobock; Recover Sports Medicine; Shapecrunch Technology Pvt Ltd; 3M; UPMC; OrthoBethesda; APOTHECARY PRODUCTS, LLC; Ellis & Badenhausen; SYNXSOLE PTY LTD. and Revance Therapeutics, Inc. among others.
Primary Respondents
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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