Global Plantar Fasciitis Treatment Market – Industry Trends and Forecast to 2031

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Plantar Fasciitis Treatment Market Analysis and Size

According to the World Population Prospects 2022, the share of the global population aged 65 years or older is expected to rise from 10% in 2022 to 16% by 2050. By then, the number of individuals aged 65 and above is projected to be more than twice that of children under the age of 5 and nearly equal to the number of children under the age of 12. As the geriatric population grows, there will likely be a higher incidence of musculoskeletal conditions such as plantar fasciitis. This trend is anticipated to boost the demand for orthotic devices over the forecast period. Plantar fasciitis, a common orthopedic condition, is characterized by pain and inflammation in the heel and the bottom of the foot, often caused by repetitive strain or overuse. The market is witnessing a surge in demand for non-invasive treatment options, such as orthotic devices, physical therapy, and shockwave therapy, due to their effectiveness and lower risk compared to surgical interventions.

Global plantar fasciitis treatment market size was valued at USD 1.45 billion in 2023 and is projected to reach USD 2.35 billion by 2031, with a CAGR of 6.2% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation       

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Market Definition

Plantar fasciitis is a common condition characterized by inflammation of the plantar fascia, a thick band of tissue that runs across the bottom of the foot and connects the heel bone to the toes. Treatment for plantar fasciitis typically involves a combination of self-care measures, physical therapy, and medical interventions.   

Plantar Fasciitis Treatment Market Dynamics

Drivers

• Increasing Prevalence of Plantar Fasciitis  

The prevalence of plantar fasciitis is on the rise globally, primarily due to factors such as sedentary lifestyles, obesity, and an increase in sports-related injuries. Sedentary lifestyles contribute to the weakening of the foot muscles and ligaments, making individuals more susceptible to conditions like plantar fasciitis. In addition, the rise in obesity rates puts extra strain on the plantar fascia, leading to an increased incidence of this condition. Furthermore, sports injuries, especially in activities that involve running or jumping, can also contribute to the development of plantar fasciitis. This increasing incidence is driving the demand for effective treatment options.     

• Advancements in Treatment Modalities  

Recent advancements in treatment modalities for plantar fasciitis have significantly improved patient outcomes and treatment efficacy. Traditional treatment options such as plantar fasciitis treatment exercises, ice, and stretching are still effective, but newer approaches like shockwave therapy and regenerative medicine offer faster and more sustainable relief. Shockwave therapy uses acoustic waves to stimulate healing and reduce pain, while regenerative medicine, including platelet-rich plasma (PRP) therapy and stem cell therapy, harnesses the body's natural healing processes to repair damaged tissue. These advanced treatments are less invasive and offer a quicker recovery time compared to traditional methods, driving the market growth.       

• Growing Awareness and Education

There has been a notable increase in awareness about plantar fasciitis among both patients and healthcare professionals in recent years. This heightened awareness has led to earlier diagnosis and intervention, which can significantly improve treatment outcomes. Patients are now more informed about the causes and symptoms of plantar fasciitis, enabling them to seek timely medical attention. Healthcare professionals, on the other hand, are better equipped to diagnose and treat plantar fasciitis, leading to improved patient care. This increased awareness and education about plantar fasciitis are key drivers in the growing demand for treatment options and are contributing to market growth.

Opportunities

• Technological Advancements in Orthopedic Devices 

Recent advancements in orthotic devices, such as shoe inserts and night splints, have significantly improved patient comfort and compliance. These devices are designed to provide support to the arch supports for plantar fasciitis treatment and reduce strain on the plantar fascia, helping to alleviate pain and promote healing. Furthermore, technological advancements have led to the development of custom orthotic devices that are tailored to the individual needs of patients, ensuring optimal comfort and effectiveness. As a result, patients are more likely to adhere to their treatment plans, leading to better outcomes, increased demand for these innovative orthopedic devices, and creating new market opportunities.   

• Focus on Regenerative Medicine 

Regenerative medicine therapies, such as platelet-rich plasma (PRP) therapy and stem cell therapy, aim to stimulate the body's natural healing processes and promote tissue regeneration. These therapies have shown promising results in clinical trials, with many patients experiencing significant pain relief and improved function. As the demand for non-invasive and effective treatments for plantar fasciitis continues to rise, regenerative medicine is expected to play a key role in shaping the future of plantar fasciitis treatment. There is a growing focus on regenerative medicine in the treatment of plantar fasciitis, presenting a significant opportunity for the market.

Restraints/Challenges

• High Cost of Treatment    

One of the major challenges facing the plantar fasciitis treatment market is the high cost associated with advanced treatment options such as regenerative medicine and shock wave therapy treatment of plantar fasciitis. These treatments can be prohibitively expensive for some patients, especially those without adequate health insurance coverage. As a result, many patients may opt for less expensive or conventional treatment options, limiting the growth of the market for advanced treatments.    

• Limited Reimbursement Policies  

The limited or lack of reimbursement policies for certain treatment options is another challenge for the plantar fasciitis treatment market. This can hinder market growth, especially for patients with financial constraints who may not be able to afford out-of-pocket expenses. Improving reimbursement policies and increasing access to affordable treatment options such as fasciitis treatment surgery could help address this challenge and drive market growth in the plantar fasciitis treatment sector.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In October 2022, the acquisition of Hanger Inc. by Patient Square Capital for about $1.25 billion emerged as a significant development in the plantar fasciitis treatment market. This acquisition is anticipated to bolster Hanger's future growth endeavors, particularly in delivering innovative and top-notch care through its medical devices, such as ankle-foot orthoses (AFO) utilized in treating plantar fasciitis   
• In September 2022, Aetrex Inc. unveiled its Foot.com Data Portal, a specialized platform designed to assist global shoe manufacturers in crafting better-fitting footwear

Plantar Fasciitis Treatment Market Scope

The market is segmented on the basis of treatment type, end-user, and indication. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Treatment Type

• Pharmacological Treatment
• Medication Therapy
  • Oral
  • Parenteral
• Orthotic Devices
• Shockwave Therapy
  • Extracorporeal Shock Wave Therapy (ESWT)
  • Intracorporeal Pneumatic Shockwave Therapy (IPST)
• Surgery
• Other Treatment Types

End-User

• Hospitals
• Clinics
• Others

Indication

• Mild
• Moderate
• Severe

Plantar Fasciitis Treatment Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, treatment type, end-user, and indication as referenced above.

The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, the rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

North America is expected to dominate the market due to rising diagnosis and prevalence rates of plantar fasciitis in this region. The increasing number of obese individuals in the U.S., along with changing lifestyles, is propelling the market for plantar fasciitis treatment.

Asia-Pacific is expected to witness significant growth during the forecast period due to the region's substantial patient pool and robust middle-class population have been key drivers of market growth. The large number of individuals requiring treatment, combined with the purchasing power of the middle class, has created a strong demand for plantar fasciitis treatment options.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.

Competitive Landscape and Plantar Fasciitis Treatment Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Bayer AG (Germany)
• SUPERFEET WORLDWIDE, LLC (U.S.)
• Bauerfeind USA Inc. (Germany)
• Shapecrunch (India)
• 3M (U.S.)
• OrthoBethesda (U.S.)
• Apothecary Products, LLC (U.S.)
• Ellis & Badenhausen (U.S.)
• SYNXSOLE PTY LTD. (Australia)
• REVANCE THERAPEUTICS (U.S.)

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