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Foot Orthotic Insoles Market

Foot Orthotic Insoles Market

Foot Orthotic Insoles Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

148

Base Year:

2021

Date

Aug - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1796

Segments Covered
  • By Product Prefabricated, Custom
  • By Age Group Adult, Pediatric
  • By Application Sports & Athletics, Medical, Personal Comfort
  • By Material Thermoplastics, Polyethylene Foams, Leather, Cork, Composite Carbon Fibers, EVA Gel, Other Materials
  • By End User Prefabricated, Custom
  • By Distribution Channel Drug Stores, Hospitals & Specialty Clinics, Online Stores, Other Channels
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: USD 3,281.4 Million
Revenue 2028Revenue 2028: USD 4,734.3 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 6.3%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Foot Orthotic Insoles Market Share

Market Synopsis:

The Global Foot Orthotic Insoles Market was valued at USD 3,281.4 Million in 2021 and is projected to reach a value of USD 4,734.3 Million by 2028. The Global Market is anticipated to grow and exhibit a Compound Annual Growth Rate (CAGR) of 6.3% over the forecast period.

The purpose of a Foot Orthotic Insoles is to correct foot abnormalities and maintain the biomechanical alignment of the foot. Modern orthotic insoles are becoming increasingly popular since they help people with pain management and daily comfort. Global demand for Foot Orthotic Insoles is projected to increase as the prevalence of chronic pain caused by various health issues rises. Prefabricated and bespoke Foot Orthotic Insoles are available in two varieties and are made from a variety of materials, including thermoplastics, polyethylene foams, leather, cork, and composite carbon fibers, ethyl-vinyl acetates (EVAs), gel, and others (such as nylon). Custom foot orthotics are becoming more and more popular, which is boosting market expansion. After thoroughly analyzing the user's foot structure, these items are built to order. Clinical studies have shown that custom orthotics are more comfortable and effective at managing pain than prefabricated ones.

Foot Orthotic Insoles Market Size, 2021 To 2028 (USD Million)

Orthotic insole production uses more environmentally friendly materials, creating new growth opportunities. The prime drivers contributing in the growth of the Foot Orthotic Insoles Market include the increasing prevalence of chronic disorders, increased stress on Research and Development (R&D) capabilities concerning medical devices and on the adoption of cutting-edge healthcare technologies, an ever-increasing geriatric population, and rising expenditure for the development of healthcare infrastructure, particularly in developing economies. The undeveloped and developing economies' lack of awareness and adoption will slow the market growth rate. Additionally, high costs related to research and development would present additional difficulties for the business. The availability of alternative treatments will slow the market's expansion.

Market Segmentation:

The Foot Orthotic Insoles Market is segmented based on Product, Age Group, Material, End User, and Region. Based on Product, the market is further segmented into Prefabricated and Custom. Moreover, based on the Age Group segment, the market is further segmented as Adult and Pediatric. In addition, based on Application, the market is further segmented into Sports & Athletics, Medical, and Personal Comfort. In addition, based on Material, the market is further segmented into Thermoplastics, Polyethylene Foams, Leather, Cork, Composite Carbon Fiber, EVA Gel, and Other Materials. Furthermore, based on the End-User segment, the market is further segmented into Prefabricated and Custom. Lastly, based on Distribution Channels, the market is further segmented into Drug Stores, Hospitals & Specialty Clinics, Online Stores, and Other Channels.

Below tree is interactive. You can click the nodes to get more information.

Based on Application:

Due to the rising incidences of the prevalence of illnesses like diabetes, foot discomfort, and disorders like arthritis, the Medical sector had the most significant proportion of the market. Over the length of the projection period, this tendency is probably going to persist. On the other hand, the Sports & Athletics segment is expected to expand profitably during the forecast period. Due to expanding employment options in this field, more people are selecting sports as their profession. Another reason driving product demand worldwide is the increase in the elderly population, who are more prone to orthopedic problems.

Based on Distribution Channel:

The sector primarily comprised of Hospitals & Specialty Clinics will likely hold half of the market's revenue share. Patients favor Hospitals & Specialty Clinics because they have qualified, experienced staff and adequate facilities. Over the forecast period, it is expected that the segment of Online Stores will increase profitably. The broad product selection is credited with the respective rise in demand. Several major online retailers, including Amazon, Flipkart, and Indiamart, provide bespoke and over-the-counter orthotics on their platforms.

Asia Pacific is forecast to grow at the highest CAGR during the forecast period

The market for Foot Orthotic Insoles is expanding at the quickest rate in the Asia-Pacific region. The increase in demand for Foot Orthotic Insoles is linked to the aging population, growing awareness of diabetic foot ulcers, huge patient pool, increased investment in startups, the distribution network of leading players in the region to establish themselves, and improved healthcare infrastructure in the area. Therefore, this region is anticipated to have numerous growth possibilities for the market. Over the past few years, diabetes and its consequences have become frighteningly more common.

Competitive Landscape:

The key players in the Global Foot Orthotic Insoles Market include- Aetrex Worldwide Inc., Bauerfeind AG, Acor Orthopedic, Amfit Inc., Blatchford Clinical Services, Dr. Scholl’s (Bayer), Salts Techstep, The Foot Lab, Arden Orthotics Ltd., Bolton Bros, Cascade Dafo Inc., Algeo Limited, Tynor Orthotics Pvt. Ltd. and others.

Segmentation of the Global Foot Orthotic Insoles Market:

Parameter Details
Segments Covered
  • Product (Prefabricated, Custom)
  • Age Group (Adult, Pediatric)
  • Application (Sports & Athletics, Medical, Personal Comfort)
  • Material (Thermoplastics, Polyethylene Foams, Leather, Cork, Composite Carbon Fibers, EVA Gel, Other Materials)
  • End User (Prefabricated, Custom)
  • Distribution Channel (Drug Stores, Hospitals & Specialty Clinics, Online Stores, Other Channels)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Aetrex Worldwide Inc.
  • Bauerfeind AG
  • Acor Orthopedic
  • Amfit Inc.
  • Blatchford Clinical Services
  • Dr. Scholl’s (Bayer)
  • Salts Techstep
  • The Foot Lab
  • Arden Orthotics Ltd.
  • Bolton Bros
  • Cascade Dafo Inc.
  • Algeo Limited
  • Tynor Orthotics Pvt. Ltd.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Foot Orthotic Insoles Market to Reach Valuation of USD 4,734.3 Million By 2028 – Increasing Customization of Foot Orthotic Insoles is Expected to Lead the Market Growth
In terms of revenue, the Global Foot Orthotic Insoles Market is expected to reach USD 4,734.3 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.3% from 2022 to 2028. Foot Orthotic Insoles Market are made to correct foot abnormalities and maintain the biomechanical alignment of...
FAQ
Frequently Asked Question
  • The global Foot Orthotic Insoles valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 6.3%.

  • The prominent players in the market are Aetrex Worldwide Inc., Bauerfeind AG, Acor Orthopedic, Amfit Inc., Blatchford Clinical Services, Dr. Scholl’s (Bayer), Salts Techstep, The Foot Lab, Arden Orthotics Ltd., Bolton Bros, Cascade Dafo Inc., Algeo Limited, Tynor Orthotics Pvt. Ltd..

  • The market is project to grow at a CAGR of 6.3% between 2021 and 2028.

  • The driving factors of the Foot Orthotic Insoles include

    • The rising geriatric population

  • North America was the leading regional segment of the Foot Orthotic Insoles in 2020.

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