Transparency Market Research
Plantar fasciitis is the inflammation of plantar fascia, a flexible ligament that connects the heel to the ball of foot (toes). Planter fascia forms an elastic arch that absorbs the impact of standing, walking, running, and jumping. Planter fasciitis is more common in runners or overweight people. It causes stabbing pain in the foot, which gets triggered by vigorous activities or long periods of standing. Repetitive stretching or tearing of planter fascia can cause the ligament to become irritated or inflamed. Usually, no imaging tests are required to diagnose the disorder. It can be treated by using a range of treatment approaches.
Rising number of obese or overweight people led by the adoption of sedentary lifestyle and increasing awareness about plantar fasciitis are key factors expected to augment the plantar fasciitis market during the forecast period. However, significant cost associated with the advanced treatment of plantar fasciitis is likely to restrain the market from 2018 to 2026.
The plantar fasciitis market can be segmented in terms of treatment type and end-user. Based on treatment type, the market has been categorized into medication therapy, orthotics, radiation therapy, shockwave therapy, and surgery. The shockwave therapy segment has been sub-classified into extracorporeal shockwave therapy (ESWT) and intracorporeal pneumatic shockwave therapy (IPST). The medication therapy segment has been sub-divided into oral and parenteral. The oral therapy involves use of drugs such as ibuprofen and naproxen, while the parenteral therapy involves use of injections of steroid and platelet-rich plasma (PRP). The oral therapy segment accounted for a leading market share in 2017, which is attributable to increased penetration of developing countries by key manufacturers and distributors of oral ibuprofen and naproxen. There are incidences that the administration of multiple steroid injections has caused plantar fascia to weaken, leading to its rupture. This is a key factor responsible for physicians’ preference for platelet-rich plasma (PRP) to relieve the pain. Radiation therapy uses small doses of radiation to target the damaged and inflamed tissue in the heel. The radiation therapy segment is expected to witness sluggish growth from 2018 to 2026. Surgery removes the scar tissues of plantar fasciitis by using either the minimally invasive technique or the invasive procedure. Surgeries are performed in case of severe pain. Increasing adoption of novel and technologically advanced tools by physicians is expected to boost the shockwave therapy segment between 2018 and 2026. However, the rising demand for orthotics, also known as foot orthotic insoles, led by increasing prevalence of diabetes; rising investment in R&D of advanced and customized orthotics by manufacturers; orthotic insoles long-term clinical effectiveness and excellent design that reduces the heel pain are projected to fuel the orthotics segment market during the forecast period. In terms of end-user, the global plantar fasciitis market has been categorized into hospitals, ambulatory surgical centers, and clinics. The hospitals segment accounted for a leading market share in 2017 and is expected to continue its dominance throughout the forecast period. This is attributable to availability of well-equipped infrastructure in private hospitals and expanding pool of patients with plantar fasciitis.
Geographically, the global plantar fasciitis market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global plantar fasciitis market in 2017, owing to the rising adoption of orthotics by people in the U.S. and increasing prevalence of obesity in the U.S. and Canada. Strategic presence of prominent manufacturers in Europe makes the region the second-largest market for plantar fasciitis across the world. On the other hand, rise in the geriatric population in China and Japan and increasing awareness about foot-related disorders among the people in Asia Pacific are anticipated to fuel the market in Asia Pacific between 2018 and 2026.
Prominent players operating in the global plantar fasciitis market are Sanofi, Bayer AG, Superfeet Worldwide Inc., Hange Prosthetics & Orthotics Inc., Bauerfeind AG, Ottobock Holding GmbH, Pfizer, Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Allergan plc, GlaxoSmithKline plc, and Bristol-Myers Squibb Company.
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