Global Plantar Fasciitis Treatment Market - 2022-2029

Market Overview

The Plantar Fasciitis Treatment Market is expected to grow at a high CAGR of 4.2% during the forecasting period (2022-2029).

Plantar fasciitis is an inflammation of the plantar fascia which is a fibrous band of tissue on the bottom of the foot which supports the arch. It occurs when this band of tissue is overloaded or overstretched. This causes small tears in the fibers of the fascia, especially where the fascia meets the heel bone. Plantar fasciitis is common in obese people and pregnant women, their extra body weight overloads the delicate plantar fascia. It is also common in people with diabetes, although the exact reason for this is unknown.

Market Dynamics

The increasing number of plantar fasciitis cases is expected to drive the plantar fasciitis treatment market growth over the forecast period

Increasing adoption of orthotics techniques coupled with rising cases of plantar fasciitis is among the major factors driving the market growth globally. As per the National Center for Health Statistics (NCHS), it is estimated that about two million population suffers from plantar fasciitis annually worldwide. Incorrect walking posture, a sudden rise in sports activities, prolonged standing, weight-bearing, ill-fitted shoes can trigger micro-tears in the plantar fascia, and result in plantar fasciitis.

Increasing incidences of obesity are also expected to drive plantar fasciitis treatment market growth

Geriatric. and obese people are more prone to plantar fasciitis. It leads to sharp pain and other complications, in which, plantar fascia, a tissue connecting the heel and the toe bones becomes less flexible and more constrained.

As per the World Health Organization (WHO), in 2016, more than 1.9 billion adults, 18 years and older, were overweight. Of these over 650 million were obese. 39% of adults aged 18 years and over were overweight in 2016, and 13% were obese. Most of the world's population live in countries where overweight and obesity kill more people than underweight. Thirty-eight million children under the age of 5 were overweight or obese in 2019. Over 340 million children and adolescents aged 5-19 were overweight or obese in 2016.

An increase in the number of individuals living sedentary lifestyles along with changes in eating habits leads to a rise in obesity, which puts pressure on the joints and ankles and can result in plantar fasciitis.

The high cost of treatment is hampering the market growth

However, the high cost of the treatment and lack of awareness about the plantar fasciitis condition is hampering the growth of the market. Also, the lack of stable raw materials pricing for the production of effective therapeutic medical devices is expected to hinder the growth of the market. Some concerns regarding the decline in profitability ratio for the products amid the availability of large inventory and raw material stock with the manufacturers are expected to restrict the market growth.

Epidemiology

Plantar fasciitis is very common in the US, with millions experiencing heel pain every year. The cause of plantar fasciitis is multifactorial, but most cases result from overuse stress. It is estimated that over two million Americans seek treatment for plantar heel pain each year. The prevalence of active and military populations is especially high. Globally, in both athletic and nonathletic populations, the incidence of plantar fasciitis is reported to be approximately 10%.

The average age of a patient with proximal plantar fasciitis is around 45 years. There is also known sex-based dimorphism in presentation, with proximal plantar fasciitis being twice as common in women as in men.

Plantar fasciitis accounts for about 10% of runner-related injuries and 11% to 15% of all foot symptoms requiring professional medical care. It occurs in about 10% of the general population as well, with 83% of these patients being active working adults between the ages of 25 and 65 years old.

Market Segmentation:

By treatment type, the global market is classified into medication therapy, orthotics, shockwave therapy, surgery, and others.

The orthotic devices segment is dominating the global plantar fasciitis treatment market over the forecast period

Orthotic devices, also known as orthoses, are the type of braces that supports weakened muscles while walking or running. These devices also improve comfort and slow down the progress of contractures. These can be worn at any time of the day or night. The use of an orthotic device depends on the patient's type of concern. The common types of orthotic devices include knee-ankle-foot orthoses and ankle-foot orthoses.

Plantar fasciitis commonly occurs as a result of flattening of the foot, which makes the foot appear larger. One of the best ways to ease the burden on the foot is by essentially replacing the structure of the arch. Orthotics are a valuable solution for people struggling with the discomfort of plantar fasciitis. Hence, to reach consumer requirements, market players are focusing on developing different novel and technologically advanced orthotic devices which are anticipated to propel the overall market.

The Shockwave therapy segment of treatment type is expected to grow at the fastest CAGR over the forecast period

The shockwave therapy market is segmented into extracorporeal shock wave therapy and intracorporeal pneumatic shockwave therapy. Plantar fasciitis is growing due to increasing common foot pain conditions which has also raised the number of treatments globally. In Extracorporeal shock wave therapy, sound waves are directed at the area of heel pain to stimulate healing. It is commonly used for chronic plantar fasciitis that hasn't responded to more-conservative treatments. Some studies show promising results, but it isn't consistently effective.

Medication therapy is expected to grow significantly over the forecast period

Medication is useful in the early stages, especially if the patient has begun stretching exercises, because, initially, these can worsen the pain.

Some of the medications used for the treatment of plantar fasciitis are:

Analgesics: Analgesics ensure patient comfort, promote pulmonary toilet, and have sedating properties, which are beneficial for patients who have sustained trauma or who have sustained injuries.

Acetaminophen (Aspirin Free Anacin, Fever all, Tylenol) is effective in relieving mild to moderate acute pain; however, it has no peripheral anti-inflammatory effects.

Nonsteroidal Anti-inflammatory Drugs: NSAIDs have analgesic and antipyretic activities. They inhibit its leukotriene synthesis, lysosomal enzyme release, lipoxygenase activity, neutrophil aggregation, and various cell membrane functions.

Ibuprofen (Advil, Excedrin IB, Motrin, Ibuprin) are used for patients with mild to moderate pain. Inhibits inflammatory reactions and pain by decreasing prostaglandin synthesis.

Ketoprofen (Actron, Orudis, Oruvail): For the relief of mild to moderate pain and inflammation. Small initial dosages are indicated in small and elderly patients and those with renal or liver disease.

Naproxen (Aleve, Anaprox, Naprelan, Naprosyn): For the relief of mild to moderate pain; inhibits inflammatory reactions and pain by decreasing the activity of cyclooxygenase, which is responsible for prostaglandin synthesis. NSAIDs decrease intraglomerular pressure and decrease proteinuria.

By end-user, the market is segmented into hospitals, ambulatory surgical centers, clinics, and others.

Hospitals are contributing to the majority of the market share in the global market for plantar fasciitis treatment

The hospital's segment held the major share of the market in terms of revenue in 2019 due to the rising number of surgeries for treatment, which takes place in hospitals. Medication therapy has gained traction due to the most widely adopted line of therapy to manage symptoms related to plantar fasciitis like inflammation and pain. However, few people need surgery to detach the plantar fascia from the heel bone. Surgery is generally an option only when the pain is severe, and other treatments have failed. It can be done as an open procedure or through a small incision with local anesthesia.

Geographical Presentation:

North America holds plantar fasciitis treatment accounted for the largest market share in 2021, and is expected to grow significantly over the forecast period, due to increasing investments in the development of new treatment options, large population base with foot pain conditions, and expansion in the distribution networks. The prevalence rates of plantar fasciitis are growing rapidly in the United States. For instance, as per the American Podiatric Medical Association (APMA), research study revealed that 77 percent of Americans suffer from the foot pain. It is Approximately 2 million people in the United States will suffer from Plantar Fasciitis, one of the most common foot pains. Also, the rise in the number of obese people in the United States and changing lifestyle is driving the growth of the market. As per the National Clinical Trials (NCT) registry, as of June 18, 2020, currently, there are about 6 recruiting clinical trials across different phases of development for the treatment of Plantar Fasciitis in the United States.

Competitive Landscape:

The global market is consolidated. Several private companies are focusing on the development and introduction of novel products into the market, which are easily affordable and accessible. For instance, on 28th September 2021, the FDA approved Shock wave therapy treatment for plantar fasciitis. There are two types of shock wave therapies: focused shock waves and radial pressure waves.

The plantar fasciitis treatments market is moderately competitive and consists of several major players. Some of the key players which are contributing to the growth of the market include A. Algeo Limited, Superfeet Worldwide, Inc., Hanger, Inc., Bayer Group (Dr. Scholl's), GlaxoSmithKline Plc, Bauerfeind AG, Pfizer, Inc., Sanofi, and Ottobock SE & Co., KGaA. (Ottobock Holding), among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance,

Product Launch: On 24th August 2021, Superfeet Worldwide LLC launched ADAPT run collection of insoles. This collection is patented under Adaptive Comfort Technology. These running insoles are available in two arch heights: ADAPT Run with a thinner profile and lower arch and ADAPT Run Max with a deeper heel cup and higher arch profile.

Pfizer, Inc.

Overview:

Pfizer is one of the world's premier innovative biopharmaceutical companies, discovering, developing, and providing over 170 different medicines and vaccines healthcare products to help improve the lives of millions of people in the UK and around the world every year.

Product Portfolio:

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