Foot Orthotic Insoles Market Size, Share, Growth Report 2030

Industry Perspective:   

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.

COVID-19 Impact Analysis:

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.

Growth Factors

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.

Foot Orthotic Insoles Market Report Scope:

Segment Analysis Preview

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.

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Regional Analysis Preview

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.

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Key Market Players & Competitive Landscape

Key market players of North America Foot Orthotic Insoles include as 

• Bauerfeind AG
• Hanger Orthopedic Group
• Bayer AG
• Spenco Medical Corporation
• Aetrex Worldwide, Inc
• Comfortfit Orthotic Labs Inc
• Sole 
• OttoBock Holding GmbH & Co. KG

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.

The Foot Orthotic Insoles market is segmented as follows:    

By Materials Analysis

• Leather
• Polypropylene
• Others (Polyethylene Foams, Cork, Acrylic, Composite Carbon Fibers, etc.)

By End-users Analysis

• Sports
• Medical
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa