The global foot orthotic insoles market size was valued at USD 3.62 Billion in 2022 and is estimated to reach USD 6.54 Billion by 2031, expanding at a CAGR of 6.8% during the forecast period, 2023-2031.
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.
Foot Orthotic Insoles Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for foot insoles due to rising use of them as a prescription medical device to reduce the pain caused by medical conditions such as diabetes, plantar fasciitis, bursitis, and arthritis is estimated to boost the market growth.
- Growing focus on clinical studies to evaluate the efficacy of foot inserts in several chronic foot ailments is expected to spur the market expansion.
- The availability of substitute therapies such as acupuncture and several other stimulation devices for the treatment of chronic foot-related ailments is expected to hamper the growth of the market.
- Ongoing developments in foot orthotic insoles can create lucrative opportunities for the industry players in the projected timeline.
Scope of Foot Orthotic Insoles Market Report
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.
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Attributes
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Details
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Report Title
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Foot Orthotic Insoles Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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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)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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Dr. Scholl, Superfeet Worldwide, Bauerfeind Ag, Hanger Inc, Implus Llc, Footbalance Ltd.
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Foot Orthotic Insoles Market Segment Insights
Type Segment Analysis
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.
Application Segment Analysis
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.
Materials Segment Analysis
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.
Distribution Channels Segment Analysis
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.
Regional Analysis
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
Types
Applications
Materials
- Thermoplastics
- Ethyl-vinyl Acetate (EVA)
- Foam
- Composite Carbon Fiber
- Others
Distribution Channels
- Hospital Pharmacies
- Retail Stores
- Online Stores
Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
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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