Foot Orthotic Insoles Market Size And Forecast
Foot Orthotic Insoles Market size was valued at USD 3.49 Billion in 2022 and is projected to reach USD 6.125 Billion by 2030, growing at a CAGR of 6.46% from 2023 to 2030.
The rising geriatric population worldwide coupled with a high incidence of diabetes and plantar fasciitis is the crucial aspect of the rise in the market revenue of foot orthotic insoles. The elderly population is continuously growing and will increase the consumer base in the future. Moreover, technological advancements owing to high investments in R&D will foster market growth. The Global Foot Orthotic Insoles Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Foot Orthotic Insoles Market Definition
Foot orthotics insoles are prescribed medical devices that are worn inside the shoe to correct biomechanical foot issues such as running, standing, and walking. Orthotics is a medical specialty related to the design, manufacture, and application of orthoses. These insoles are proposed to support or correct abnormal or unusual walking patterns. The work includes changing the angle at which the foot strikes while walking and hence aiding the limb or the torso to restore the positioning of the foot. Based on the product, it is differentiated into leather, cork, composite carbon fibers, thermoplastics, ethyl vinyl acetates (EVA), polyethylene foams, and others.
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Polyethylene foams are majorly used due to widespread usage. These insoles help with foot pain caused by health conditions such as plantar fasciitis, bursitis, arthritis, and diabetes. Insoles are very flexible and are used to offer extra cushioning to the foot and give support and comfort to the patient’s arches. The benefit includes improving the overall health of the foot and ankle, aligning the feet and ankles to support the body, and preventing foot deformities. They find extensive application in sports & athletics, medical, and personal comfort.
Global Foot Orthotic Insoles Market Overview
The increasing demand for customized foot orthotics is fueling market growth. These products are custom-made according to the required specification after a complete evaluation of the foot structure of the user. Moreover, technological advancements such as 3d printed orthotics due to high ongoing investments in R&D are expected to increase growth potential in the coming years. The 3D printers are thinner and have increased gait efficiency and proprioception, thus boosting the market growth. The rising geriatric population worldwide coupled with a high incidence of diabetes and plantar fasciitis is the crucial aspect of the rise in the market revenue of foot orthotic insoles. The elderly population is continuously growing and will increase the consumer base in the future.
Furthermore, the growing demand and usage of eco-friendly materials in manufacturing orthotic insoles followed by favorable reimbursement policies in developed countries are positively anticipated to propel the overall Global Foot Orthotic Insoles Market. There are certain restraints and challenges faced which will hinder the overall market growth. Factors such high cost of foot orthotic insoles confines the growth. In addition, lack of production, volatile raw material prices, and low awareness in developing nations are the factors limiting the growth of the market. The lack of professionals and reduction in the advent of sports among people, and the availability of substitutes are some restraining factors hampering the Global Foot Orthotic Insoles Market.
Global Foot Orthotic Insoles Market: Segmentation Analysis
The Global Foot Orthotic Insoles Market is segmented on the basis of Product, End User, And Geography.
Foot Orthotic Insoles Market, By Product
• Leather
• Polypropylene
• Polyethylene foams
• Others
Based on Product, The market is bifurcated into Leather, Polypropylene, Polyethylene foams, and Others. The Polyethylene foams segment holds the largest market share. The factors can be attributed to the presence of broad category materials, widespread usage, easy manufacturing, and increasing popularity. The high strength and lightweight property make it ideal for producing rigid foot orthotics, thus propelling the acceptance of this segment.
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Foot Orthotic Insoles Market, By End User
• Sports
• Medical
• Other
Based on End User, The market is bifurcated into Sports, Medical, and Others. The Medical segment dominates the market and holds the largest market share. The factors can be attributed to the rising incidence of diseases such as arthritis, foot pain, and diabetes thus propelling the growth of this segment.
Foot Orthotic Insoles Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
On the basis of Regional Analysis, The Global Foot Orthotic Insoles Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America holds the largest market share. The rising prevalence of diabetes, an increase in sports activities, and technological advancements due to high ongoing investments in R&D will boost the market in this region.
Key Players
The “Global Foot Orthotic Insoles Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Superfeet, Implus, Sidas, OttoBock, Bauerfeind, Aetrex Worldwide, Wintersteiger, Powerstep, Footbalance Systems, Comfortfit Labs, Euroleathers. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
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