Unsure footing: Industry revenue is rising, but overseas competition will threaten profit growth
Foot Care Product Manufacturing The Foot Care Product Manufacturing industry in the United States is characterized by a diverse, fragmented set of companies producing a wide range of products intended for the treatment or prevention of foot conditions. The industry is supported by the aging population, the rising prevalence of diabetes in the US population and increased access to healthcare coverage due to the Patient Protection and Affordable Care Act. However, over the five years to 2018, increased import penetration has hindered industry growth. Increasing competition is expected to reverse the growth trend in average industry profit margins in the coming years, due to the twin pressures of price competition and increased spending on labor to pursue new product development. Nonetheless, demand will likely grow, particularly as the baby-boomer generation ages and spends more of their retirement time pursuing hobbies that may result in activity- or age-related foot ailments. As new product development further stimulates both domestic and international demand, total industry revenue is expected to grow over the five years to 2023.
Companies in this industry are engaged in manufacturing medicated and nonmedicated preparations, bandages and other treatments for the prevention and treatment of foot care conditions including dry skin, athlete’s foot, fallen arches, blisters, corns, calluses and bunions. This industry does not include manufacturers of professional medical-surgical orthopedic products, orthopedic shoes or products intended primarily as cosmetics (e.g. nail polish).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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