The Global Foot Orthotic Insoles market size accounted for USD 1726.3 Million in 2020 and is expected to reach USD 2246.10 Million by 2028, growing at a CAGR of 4.6% from 2021 to 2028 | Industry Share By Material, End Users, and Region.
Foot Orthotic Insoles Market
The Foot Orthotic Insoles market size accounted for USD 1726.3 Million in 2020 and is expected to reach USD 2246.10 Million by 2028, growing at a CAGR of 4.6% from 2021 to 2028.
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Orthotics care with the planning, manufacture, and application of orthoses. Orthoses are devices used to modify the structural and functional characteristics of the neuromuscular and skeleton and are applied externally. Orthotic insoles are molded shoe inserts made from leather, rubber, plastic, or other synthetic material. They balance the foot in a neutral position and also provide cushioning to the foot. There are many sorts of foot orthotic insoles available within the market namely, prefabricated, cushioning orthoses, pressure relief orthoses, and custom foot insoles.
The foot orthotic insoles market is primarily driven by growing incidences of diabetes and increasing demand from sports applications. Other major driving factors are the increasing aging population and increasing awareness about the benefits of using foot orthoses. However, the high price of orthotic insoles is the major restraint that will limit the expansion of the market. Nonetheless, technological advancements in foot orthotic insoles research are likely to disclose new avenues for the foot orthotic insoles market within the near future.
The impact of the coronavirus pandemic on North America has been largely disruptive in terms of economic activity and also as a loss of human lives. The outbreak of COVID-19 has declined the marketplace for the various market and has adversely affected the healthcare industry. This is often due to disruptions within the supply chain and a decrease in patient volume across the world. The economies around the globe have declined as there's a major decline in the demand for products. The assembly across all industries is limited due to the pandemic, the shortage of staples, and the decline in exports, and therefore the disruptions within the supply chain are the main factors distressing the North America Foot Orthotic Insoles.
Increasing demand for custom-made foot orthotics is fueling market growth. Tailor-made orthotics have clinically proven advantages over prefabricated ones in terms of higher pain management and luxury. there's an increasing demand for 3D-printed orthotics among end-users. These are thinner as compared to traditional ones, with increased gait efficiency and proprioception, which is enhancing the market growth. The growing adoption of eco-friendly materials in manufacturing orthotic insoles is opening new avenues for growth. Favorable reimbursement policies in developed countries, rising investments by key industry players, and increased spending on R&D are expected to spice up revenue within the coming years.
|Report Attributes||Report Details|
|Report Name||Foot Orthotic Insoles Market Research Report|
|Market Size in 2020||USD 1726.3 Million|
|Market Forecast in 2028||USD 2246.10 Million|
|Compound Annual Growth Rate||CAGR of 4.6%|
|Number of Pages||120|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Bauerfeind AG, Hanger Orthopedic Group, Bayer AG, Spenco Medical Corporation, Aetrex Worldwide, Inc, Comfortfit Orthotic Labs Inc, Sole and OttoBock Holding GmbH & Co. KG among others.|
|Segments Covered||By Materials, By End-users, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
The foot orthotic insoles market is segmented based on material and end-user. Based on material, the foot orthotic insoles market has been segmented into leather, polypropylene, and others (polyethylene foams, cork, acrylic, composite carbon fibers, etc.).The polypropylene segment is predicted to grow at the fastest rate during the forecast period. Different end-users in the foot orthotic insoles market are sports, medical, etc. The medical segment accounted for the largest share due to the rising incidence of diseases such as arthritis, foot pain, and diabetes. This trend is likely to continue over the course of the forecast period.
The foot orthotic insoles market is about to grow at a considerable pace over the subsequent few years. North America has become a mature market as compared to the remainder of the planet in terms of demand for foot orthotic insoles. additionally, this region has a longtime customer base due to the rising awareness of healthcare and technological advancements and is currently dominated by the U.S.
Key market players of North America Foot Orthotic Insoles include as
To attain long-term growth and sustain its current market hold, the company is extending the business model to additional technologies and developing innovative products.
By Materials Analysis
By End-users Analysis
The Foot Orthotic Insoles market was valued at USD 1553.3 Million in 2020.
The Foot Orthotic Insoles market is expected to reach USD 2246.1 Million by 2028, growing at a CAGR of 4.6% between 2021 to 2028.
The increasing adoption of eco-friendly materials in manufacturing orthotic insoles is opening new avenues for growth. Favorable reimbursement policies in developed countries, growing investments by key industry players, and increased spending on research and development are expected to boost revenue in the coming years.
US held a large chunk of market share in 2016 and is likely to experience noticeable growth in the next few years.
Some of the major companies operating in North America Foot Orthotic Insoles market are as Bauerfeind AG, Hanger Orthopedic Group, Bayer AG, Spenco Medical Corporation, Aetrex Worldwide, Inc, Comfortfit Orthotic Labs Inc, Sole and OttoBock Holding GmbH & Co. KG among others.
Inserts for shoes known as foot orthotic insoles can be produced to order or purchased ready-made, and their primary purpose is to offer the feet, ankles, and lower legs additional support and alignment. They are effective in treating a range of disorders that affect the foot and lower leg, including plantar fasciitis, flat feet, high arches, and overpronation, among others. Taking a mold or imprint of the patient's foot is the first step in the process of creating a custom-made foot orthotic insole.
This mold or impression is then used to construct an insole that is suited to the specific requirements of the individual. Over-the-counter shoppers have access to a wide selection of pre-fabricated insoles that come in a number of different sizes and designs.
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