Plantar fasciitis is a type of repetitive strain injury which affects people affects people in excessive standing behavior including runners, hikers, and professionals such as cashiers, who have to stand extensively on hard surfaces. Since the condition can be caused by multiple factors, the incidences of plantar fasciitis have gone up and so have the number of companies that provide relevant treatments. Inactive and sedentary lifestyles and poor diets are some of the key causes that increase the risk of plantar fasciitis. As the ailment has become an increasingly common ailment, a larger number of treatments are being developed. The market for plantar fasciitis treatments reached a value of ~$ 695 million in 2018. The market is projected to expand at a steady CAGR or ~ 4 per cent through the forecast period till 2027. These insights are derived from the intelligence report, titled, "Plantar Fasciitis Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027" which has been added recently to the Market Research Hub’s (MRH) ever-expanding repository.
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Customization in Orthotics Gains Traction
While the field of orthotics is not new, this treatment is likely to become a treatment of choice in the years ahead, as orthotic products focus more on diverse and advanced treatment offerings. This includes custom foot orthotics such as shoe inserts, which are developed to meet the exact specifications of individual feet. This trend is expected to generate increased production rates in the near future.
Developed regions such as Europe and North America are leading the plantar fasciitis market with the availability of new technologies and product launches. North America alone accounts for more than 40 per cent of the global market value. This dominance is supported by the presence of many major players in the region including Pfizer Inc. and Hanger Inc.
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Plantar Fasciitis Treatment Market: Report Insights
The report comprises a detailed analysis to bolster the report on the plantar fasciitis treatment market. In addition, the report strongly focuses on the various facets in the market that are expected to have an impact on the development of the plantar fasciitis treatment market in different scenarios. Some of these factors include, drivers, restraints, opportunities, and trends. Further, the report also focuses on the segmentation of the market that provides an exhaustive analysis on plantar fasciitis treatment.
Furthermore, the report accurately describes benchmarking standards that are aimed towards assessing the performance of the products, solutions and medical processes. Benchmarking also emphasizes on the performances of rival companies, with the aim of improving on performance.
The analysis of the competitive scenario of the plantar fasciitis treatment market relies on Porters’ Five Force Analysis. Additionally, the Porters’ Five Force Analysis offers an analysis on the potential strategies of the players in the plantar fasciitis treatment market. The business strategies depends upon product portfolios, recent developments, company profile, SWOT analysis, and key differentiation.
Plantar Fasciitis Treatment Market: Research Approach
The report on plantar fasciitis treatment relies on primary research and secondary research that offers intelligence insights on the market. Nevertheless, the report focuses on authentic and unbiased sources that have had a substantial impact in the preparation of the report. On the other hand, the report also relies upon primary sources that are developed through analysis from experts, telephonic interviews, and detailed analysis from analysts, and surveys. In addition, the secondary sources of data incorporates EC filings, press releases, trade journals, government websites, and databases.
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