The global foot orthotic insoles market is estimated to expand at a substantial CAGR during the forecast period, between 2021-2028. Foot orthotic insoles are the attachments to the shoes designed to cure the foot abnormalities and steady the biomechanical misalignment of the foot. Many patients are now going for specially designed orthotic insoles that provide them with personal comfort in daily life and reduce the pain. The increase in the incidence of chronic pain owing to various health problems is boosting the demand for insoles. Diabetes is one of the most common causes of foot pain in adults. The impact of COVID-19 pandemic has been unmatched and harmful to the market due to lockdown across the globe.
The report on foot orthotic insoles market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes | Details |
Report Title | Foot Orthotic Insoles Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast |
Base Year | 2020 |
Historic Data | 2018 & 2019 |
Forecast Period | 2021–2028 |
Segmentation | Types (Prefabricated and Customized), Applications (Medical and Sports), Materials (Thermoplastics, Ethyl-vinyl Acetate (EVA), Foam, Composite Carbon Fiber, and Others), Distribution Channels (Hospital Pharmacies, Retail Stores, and Online Stores) |
Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report | Dr. Scholl, Superfeet Worldwide, Bauerfeind Ag, Hanger Inc, Implus Llc, Footbalance Ltd. |
In terms of the types, the market can be segmented into prefabricated and customized. The customized segment is expected to grow at a robust rate during the forecast period. Customized orthotic insoles are high in demand in the market as it matches the patient’s size and comfort specifications. Most of orthoptists prescribe customized foot insoles for better clinical results. This is one of the main reasons for the growth of the segment. Apart from this, technological advancements such as 3D foot scanners and molding clay have eased the manufacturing of customized foot insoles. This is anticipated to favor the growth of the segment.
Based on applications, the market can be categorized into medical and sports. The medical segment is expected to dominate the market during the forecast period. Increasing demand for foot orthotic insoles to reduce the pain caused due to various diseases and disorders is spurring the segment growth.
On the basis of materials, the market can be categorized into thermoplastics, ethyl-vinyl acetate, foam, composite carbon fiber, and others. The ethyl-vinyl acetate (EVA) and foam segments are expected to register a robust CAGR during the forecast period. The easy availability of these orthotic insoles made of EVA and reasonably low pricing compared to polypropylene foam-based foot insoles are major drivers of the segments’ growth. The quick acceptance of foot inserts for sports and physical activities has increased the demand for successful shock-absorbing insoles materials. As foam-based foot orthotic insoles offer excellent shock absorption, they are gradually gaining a lot of traction, in-turn favoring expansion of the foam segment.
In terms of distribution channels, the market can be segmented into hospital pharmacies, retail stores, and online stores. The hospital pharmacies segment is meant to exhibit a high CAGR during the forecast period. Satisfactory health reimbursement for orthotic insoles and the increasing access of customized foot inserts are expected to boost the hospital pharmacies segment. Most of the patients prefer customized foot insoles. The fact that a prescription from a medical professional is required for customized insoles is a key reason for the growth of the segment.
In terms of regions, the market can be classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America held a large market share in 2020 due to fast implementation of 3D printers for making orthotic insoles and increasing number of foot doctor and orthoptists in the region. Advantageous reimbursement policies for orthotic foot inserts, combined with the increasing government efforts to raise awareness about foot care through awareness initiatives are the main factors attributable to the growth of the market in North America.
Segments covered in the report
By Types
By Applications
By Materials
By Distribution Channels
By Regions
By Key Players
The key players in the market are Dr. Scholl, Superfeet Worldwide, Bauerfeind Ag, Hanger Inc, Implus Llc, Footbalance Ltd. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Segments covered in the report
By Types
By Applications
By Materials
By Distribution Channels
By Regions
By Key Players
The key players in the market are Dr. Scholl, Superfeet Worldwide, Bauerfeind Ag, Hanger Inc, Implus Llc, Footbalance Ltd. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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