Market Forecast for Adult and Children's Orthopedic Shoes in India
The relevance of research
One of the most popular medical products is orthopedic shoes. Wearing it provides not only comfort, but also great benefits for the musculoskeletal system and for the body as a whole. Such shoes are indispensable for those people who have various pathologies of the feet.
Purpose of the study
Analyzing the state of the adult and children's orthopedic footwear market in India, assessing the market size, analyzing competitors, and identifying factors affecting the adult and children's orthopedic footwear market
Content
Chapter 1. Key components of the market for adult and children's orthopedic shoes
1.1. Market size
1.2. Growth rates of the market of adult and children's orthopedic footwear
1.3. The ratio of imported and domestic products in the market
1.4. The volume and dynamics of the production of adult and children's orthopedic shoes
1.5. Import of adult and children's orthopedic shoes. Volume and dynamics
1.6. Export of adult and children's orthopedic shoes. Volume and dynamics
1.7. Share of exports in production
Chapter 2. Economic characteristics of the market
2.1. Trends in the market of adult and children's orthopedic shoes
2.2. The main problems of the industry
2.3. Estimation of the number of buyers and their financial capabilities
2.4. Estimated consumption per capita
2.5. Analysis of sectoral indicators of financial and economic activity
2.6. Compact location of industry companies in certain regions
2.7. Stage of the life cycle of the market for adult and children's orthopedic shoes
Chapter 3
3.1. Economic components
3.2. Social Components
3.3. Technological components
3.4. Political Components
3.5. STEP-analysis of the market of adult and children's orthopedic shoes
Chapter 4. Assessment of the degree of competition
4.1. Scale of competition (local, regional, national, global)
4.2. Number of competitors and relative market shares of the largest competitors
4.3. Competition from substitute products
Chapter 5 Industry Forecasts
5.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
5.2. Analysis of the impact on the state aid industry at the current date
5.3. Assessment of the degree of impact of the crisis due to covid-19 on the analyzed market. Barriers existing in the market of adult and children's orthopedic shoes
5.4. Prospects and growth drivers for the adult and children's orthopedic footwear market
5.5. Forecast for the development of the market for adult and children's orthopedic shoes in the context of the current economic crisis due to covid-19
Chapter 6 Forecasting Methodology
6.1. Methods for forecasting key industry indicators
6.2. Sources of information for forecasting
6.3. Timing of forecasting
Research excerpt
Chapter 1. Key components of the market for adult and children's orthopedic shoes
1.1. Market size
The spread of the coronavirus infection, the decline in oil prices, the devaluation of the rupee - all these events have had ... The orthopedic footwear industry, like many other economic activities, has faced ...
At the end of 2020, the market volume of adult and children's orthopedic shoes amounted to … thousand pairs, the market volume in 2020 was ...
1.2. Growth rates of the market of adult and children's orthopedic footwear
Market growth rates in the period 2013-2020 allow us to state moderate ..., interrupted ... So, if we consider the market, ...
At the same time, the market for adult and children's orthopedic shoes reacts sharply to ... So, in 2014-2015. the decrease in the market volume amounted to …% and …%, respectively, ... In 2018-2019. market volume showed ... Another crisis provoked by the covid-19 pandemic led to …
In the structure of the market of orthopedic shoes during 2018-2020. …% falls on orthopedic shoes for adults and …% for children. In the structure of the orthopedic footwear market in 2020, …% was occupied by orthopedic footwear for adults and …% for children.
1.3. The ratio of imported and domestic products in the market
Assessing the ratio of imported and domestic products in the market of adult and children's orthopedic shoes, it is necessary ... The analyzed eight-year period simultaneously includes ...
As can be seen in the diagram below, during crisis periods there is … This is due to a decrease in …
Thus, speaking about the share of imported products on the market, it is advisable ... - in such periods, the share of imports on the market is ... During the period of stabilization of the economic situation in the country, the share of imports approaches ...
Thus, it can be expected that already in 2021-2022. the share of imported products in the market will be …%.
Diagram 3. The ratio of imported and domestic products in the market of adult and children's orthopedic shoes, 2013–2020,
1.4. The volume and dynamics of the production of adult and children's orthopedic shoes
Diagram 4. Dynamics of production volumes of adult and children's orthopedic shoes in India, 2013–2020, thousand pairs
According to …, the volume of production of adult and children's orthopedic shoes at the end of 2020 amounted to … thousand pairs, showing …%. In the structure of production of orthopedic footwear …% (… thousand pairs) were shoes for … and accordingly …% (… thousand pairs) children's orthopedic footwear.
In general, for the period 2013-2020. the volume of production of adult and children's orthopedic shoes is within ... thousand pairs per year, reacting ...: during periods of crises and a sharp decrease in incomes of the population, the consumer ... The lack of sustainable dynamics ... indicates the presence of ...
1.5. Import of adult and children's orthopedic shoes. Volume and dynamics
At the end of 2020, the volume of imports of adult and children's orthopedic shoes amounted to … thousand pairs, … by …% compared to 2019. The import of orthopedic shoes reacts extremely sharply to ... So, during the crisis of 2014-2015. imports of orthopedic shoes by …% and by …%, respectively, demonstrating ... Economic shocks, falling oil prices on the world market and ... led to ... Additional factors ...
In the structure of imports of orthopedic shoes in 2020, …% is occupied by adult orthopedic shoes. Over the past three years, the share of adult orthopedic shoes in the structure of imports …
1.6. Export of adult and children's orthopedic shoes. Volume and dynamics
According to GidMarket, in 2020, the volume of exports of adult and children's shoes amounted to … thousand pairs, having increased by …% compared to 2019. During the analyzed period, export volumes of orthopedic shoes remain ... A significant share in the export structure of orthopedic shoes is occupied by …
1.7. Share of exports in production
The share of exports relative to the volumes of production of adult and children's orthopedic shoes in the analyzed period …%, which confirms the conclusion about …
Chapter 2. Economic characteristics of the market
2.1. Trends in the market of adult and children's orthopedic shoes
According to the study, the following main trends and trends were noted in the market of adult and children's orthopedic shoes (discussed in more detail in other sections of the study):
...
2.2. The main problems of the industry
...
2.3. Estimation of the number of buyers and their financial capabilities
During 2010-2018, there was an increase in the population. The growth of …% in 2015 compared to the previous year 2014 is due, in addition to natural growth and growth due to migration ... However, at the beginning of 2018, the population growth rate was …% compared to the previous 2017, in 2019 (as of 1.01.2019) growth population ... As of January 1, 2021, there were …
The emerging negative trend will…
Consider also such a value as the real incomes of the population, which determine the level of effective demand. The diagram below shows the dynamics of the growth rate of this indicator.
From 2014 to 2017, there is a trend towards ... In 2014, real incomes of the population fell by ...%, in 2015 - by ...%, and in 2016 by ... But in 2017 we can observe ...
According to Rosstat data updated in April 2021, at the end of 2020, the decline in real incomes of the population amounted to …%. According to preliminary data, in the 1st quarter of 2021, real incomes will decrease by …% compared to the 1st quarter of 2020. This trend leads to an overall …
According to the document … it is expected that the real disposable income of the population in 2021 will increase by …% in the base case and …
Chart 10. Dynamics of real incomes of the population of India, 2011–2020, Q1 2021, %
2.4. Estimated consumption per capita
The volume of consumption is calculated by GidMarket based on the ratio ... The diagram clearly shows ... orthopedic shoes in India - per 1000 people in 2019 there were ... pairs of orthopedic shoes, in 2020 this indicator ...
2.5. Analysis of sectoral indicators of financial and economic activity
Important data for analyzing the state of the industry is the dynamics of such indicators as profitability, liquidity, and business activity.
The table shows the dynamics of the gross profit margin (the ratio of gross profit to income).
During the period under review from 2015 to 2020, the dynamics of the gross margin in the industry of adult and children's orthopedic shoes tended to ... Gross margin amounted to ...% in 2020.
However, during 2015-2018 the gross margin in the industry in question was significantly...
Consider the dynamics of profitability before tax.
Diagram 12. Profitability before tax (profit of the reporting period) in the industry of adult and children's orthopedic shoes in comparison with all sectors of the Indian economy, 2015-2020, %
In general, for the period, the profitability of profit before tax in the industry of adult and children's orthopedic shoes …% in 2015 to …% in 2017, then ... At the same time, the work of the industry …, since this is a significant … indicator for all sectors of the Indian economy, in In 2020, the difference amounted to … p.p.
Consider the liquidity indicators in the industry of adult and children's orthopedic shoes. The indicator of current liquidity is a measure of the solvency of the organization, the ability to repay the current (up to a year) obligations of the organization.
The estimated indicator of current liquidity of a normally operating solvent legal entity should be ...
If the current ratio is greater than...
At the same time, in world practice, the coefficient in the range of …
A more stringent liquidity criterion is the absolute liquidity ratio. It shows which part...
The normal value of the absolute liquidity ratio fluctuates within ... Such a value of the absolute liquidity ratio means that ...
The table shows the dynamics of this coefficient.
During the period under review, the overall indicator for all sectors of the Indian economy did not fall ..., which indicates ... In the industry of adult and children's orthopedic shoes, absolute liquidity indicators are generally in line with ...
Business activity is the ability of an enterprise, based on the results of its economic activity, to occupy ...
Consider the dynamics of the average turnover of receivables in the industry of adult and children's orthopedic shoes in India.
The dynamics of the indicator in the period from 2015 to 2020 tends to …, which is … a trend. For the analyzed period, the average period of turnover of receivables … days. days
The stability of the financial position of the enterprise is impossible without effective management of working capital, based on the identification of significant factors and measures to provide the enterprise with its own working capital.
The equity ratio characterizes ...
The total working capital ratio for all sectors of the economy in India in 2016-2020 as a whole showed a trend towards ... Also, the indicator for the industry of adult and children's orthopedic shoes corresponded to ...
Thus, among the considered indicators of the industry of adult and children's orthopedic shoes, most of the financial ratios are ...
2.6. Compact location of industry companies in certain regions
The structure of compact location of companies in the adult and children's orthopedic footwear industry corresponds to the distribution of ... Thus, ...% of companies in the industry are located in ... Union Territories, which also includes ..., ...% falls on ... Union Territories, another ...% of companies are located in ...
Diagram 16. Compactness of location of companies in the industry in certain regions
2.7. Stage of the life cycle of the market for adult and children's orthopedic shoes
...
Chapter 3
3.1. Economic components
GDP (gross domestic product) is used to determine the rate of economic development of any state. GDP is a macroeconomic indicator that reflects...
The chart below shows India's GDP growth rate from 2007 to 2020 at comparable prices (at 2016 prices).
The impact of the crisis, which began in 2008, led to a decrease in GDP by …% in 2009, but then the growth rate was quite …
Further, until 2014, the growth rate was …, but constantly …, and in 2015 it was … In 2015, which was the peak of the crisis in the state, the decline in GDP amounted to …% compared to the previous 2014, and since the dynamics of GDP is directly proportional to well-being of citizens, then it says ...
In 2016, GDP stagnated, at the end of 2017, this indicator demonstrates …
...
The volume index of gross domestic product in 2020 amounted to …% compared to 2019.
3.2. Social Components
...
3.3. Technological components
...
3.4. Political Components
...
3.5. STEP-analysis of the market of adult and children's orthopedic shoes
Table 6. STEP analysis of factors affecting the market for adult and children's orthopedic shoes
Participants in the adult and children's orthopedic market are forced to work under the influence of macro-environment factors. The group that has the greatest influence on the analyzed market is …
Groups of political and social factors also influence the market for adult and children's orthopedic shoes to a greater extent ... influence ...
A group of technological factors provides…
Chapter 4. Assessment of the degree of competition
4.1. Scale of competition (local, regional, national, global)
Global competition. The Indian market for orthopedic shoes does not have … The Indian market for adult and children's orthopedic shoes has …
national competition. The complexity of the development of the Indian market for adult and children's orthopedic shoes creates the presence of …
Regional and local competition is most pronounced in …
4.2. Number of competitors and relative market shares of the largest competitors
Among the largest participants in the market of adult and children's orthopedic shoes are …
The largest competitor in the adult and children's orthopedic footwear market and the dominant manufacturer of the … orthopedic footwear segment is … with a …% share in the total market.
According to the results of 2020, the foreign brand of orthopedic shoes … became the leader in the … segment of orthopedic shoes, occupying …% in the total market of adult and children’s orthopedic shoes.
Brand … takes …% of the total volume of adult and children's orthopedic shoes in India in 2020
Share…
Other imported brands account for …% in the structure of the orthopedic footwear market, while other Indian manufacturers account for …% of the adult and children's orthopedic footwear market.
Diagram 21. Shares of the largest competitors in the market of adult and children's orthopedic shoes in 2020,%
4.3. Competition from substitute products
...
Chapter 5 Industry Forecasts
5.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
In the first half of 2020, the market for adult and children's orthopedic shoes, like many other industries, felt the impact of the pandemic and the onset of the economic crisis.
Let us analyze data on the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014).
...
The market for adult and children's orthopedic shoes continues to be …
Economic crises occurring in India with high frequency are holding back…
5.2. Analysis of the impact on the state aid industry at the current date
Forecasting the development of the adult and children's orthopedic footwear market in India is impossible without understanding the economic situation in the country, as well as the impact of the spread of the covid-19 virus and the measures taken.
...
Let's present in the form of a table the measures that are currently in force. It should be noted that most of the…
5.3. Assessment of the degree of impact of the crisis due to covid-19 on the analyzed market. Barriers existing in the market of adult and children's orthopedic shoes
...
5.4. Prospects and growth drivers for the adult and children's orthopedic footwear market
The further development of the market for adult and children's orthopedic shoes in India will largely depend on the general economic condition of the state. According to the forecast...
...
5.5. Forecast for the development of the market for adult and children's orthopedic shoes in the context of the current economic crisis due to covid-19
...
Chapter 6 Forecasting Methodology
...
Diagrams
Diagram 1. Dynamics of the market volume of adult and children's orthopedic shoes, 2013–2020, thousand pairs
Diagram 2. Market structure of orthopedic shoes (adult, children), 2018-2020, %
Diagram 3. The ratio of imported and domestic products in the market of adult and children's orthopedic shoes, 2013–2020, %
Diagram 4. Dynamics of production volumes of adult and children's orthopedic shoes in India, 2013–2020, thousand pairs
Diagram 5. Volume and dynamics of imports of adult and children's orthopedic shoes, 2013–2020, thousand pairs
Diagram 6. Structure of imports of orthopedic shoes (adult, children), 2018-2020, %
Diagram 7. The volume and dynamics of exports of adult and children's orthopedic shoes, 2013–2020, thousand pairs
Chart 8. Share of exports in production, 2013–2020, %
Diagram 9. Population dynamics in India, as of 01 Jan. 2012–2021
Chart 10. Dynamics of real incomes of the population of India, 2012–2020, Q1 2021, %
Diagram 11. Consumption in the market of adult and children's orthopedic shoes per capita, 2013-2020
Diagram 12. Profitability before tax (profit of the reporting period) in the industry of adult and children's orthopedic shoes in comparison with all sectors of the Indian economy, 2015-2020, %
Diagram 13. Current liquidity (total coverage) for the industry of adult and children's orthopedic shoes for 2015–2020, times
Diagram 14. Business activity (average receivables turnover period) in the industry of adult and children's orthopedic shoes, for 2015-2020, days. days
Diagram 15. Financial stability (security of own working capital) in the industry of adult and children's orthopedic shoes, in comparison with all sectors of the Indian economy, 2015-2020, %
Diagram 16. Compactness of location of companies in the industry in certain regions
Figure 17. Stage of the life cycle of the market for adult and children's orthopedic shoes
Diagram 18. Dynamics of India's GDP, 2007-2020, % to the previous year
Chart 19. Monthly dynamics of the US dollar against the rupee, 2016-2021 (Jan.-July), Rs. for 1 US dollar
Chart 20. Index of physical volume of retail trade turnover in India, 2014-2020, Q1 2021, % to the previous year
Diagram 21. Shares of the largest competitors in the market of adult and children's orthopedic shoes in 2020,%
Diagram 22. Forecast of the market size of adult and children's orthopedic shoes in 2021–2025, thousand pairs.
Tables
Table 1. Gross margin of the adult and children's orthopedic footwear industry compared to all sectors of the Indian economy, 2015-2020, %
Table 2. Absolute liquidity of the adult and children's orthopedic footwear industry in comparison with all sectors of the Indian economy, 2015-2020, times
Table 3. Forecasts of various sources for real GDP in India in 2021-2023 (data for January-June 2021), %
Table 4. Average annual exchange rate of Euro against Rupee, 2014-2020
Table 5. Urban and rural population in India in 2014-2020 (as of January 1), million people, %
Table 6. STEP analysis of factors affecting the market for adult and children's orthopedic shoes
Table 7. The main companies participating in the market of adult and children's orthopedic shoes in 2020
Table 8. Assessment of the impact of recent crises on the industry
Table 9. Analysis of the impact on the industry of the state aid proposed to date
Table 10. Forecast indicators of the development of the Indian economy until 2024 (base case)
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