Foot Orthotic Insoles Market Size, Growth & Forecast [2031]
Foot Orthotic Insoles Market Size, Growth & Forecast [2031]
Segments - Foot Orthotic Insoles Market by 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), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2023-2031
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| Report ID :HC-3498
| 4.4 Rating
| 76 Reviews
| 196 Pages
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Report Description
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 |
Details |
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Report Title |
Foot Orthotic Insoles Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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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) |
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Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
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Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
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Key Players Covered in the Report |
Dr. Scholl, Superfeet Worldwide, Bauerfeind Ag, Hanger Inc, Implus Llc, Footbalance Ltd. |
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
- Prefabricated
- Customized
Applications
- Medical
- Sports
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
- Dr. Scholl
- Superfeet Worldwide
- Bauerfeind Ag
- Hanger Inc
- Implus Llc
- Footbalance Ltd
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.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Foot Orthotic Insoles Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Foot Orthotic Insoles Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Foot Orthotic Insoles Market - Supply Chain
4.5. Global Foot Orthotic Insoles Market Forecast
4.5.1. Foot Orthotic Insoles Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Foot Orthotic Insoles Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Foot Orthotic Insoles Market Absolute $ Opportunity
5. Global Foot Orthotic Insoles Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Foot Orthotic Insoles Market Size and Volume Forecast by Types
5.3.1. Prefabricated
5.3.2. Customized
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Foot Orthotic Insoles Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Foot Orthotic Insoles Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Foot Orthotic Insoles Demand Share Forecast, 2019-2026
7. North America Foot Orthotic Insoles Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Foot Orthotic Insoles Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Foot Orthotic Insoles Market Size and Volume Forecast by Types
7.4.1. Prefabricated
7.4.2. Customized
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Foot Orthotic Insoles Demand Share Forecast, 2019-2026
8. Latin America Foot Orthotic Insoles Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Foot Orthotic Insoles Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Foot Orthotic Insoles Market Size and Volume Forecast by Types
8.4.1. Prefabricated
8.4.2. Customized
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Foot Orthotic Insoles Demand Share Forecast, 2019-2026
9. Europe Foot Orthotic Insoles Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Foot Orthotic Insoles Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Foot Orthotic Insoles Market Size and Volume Forecast by Types
9.4.1. Prefabricated
9.4.2. Customized
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Foot Orthotic Insoles Demand Share Forecast, 2019-2026
10. Asia Pacific Foot Orthotic Insoles Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Foot Orthotic Insoles Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Foot Orthotic Insoles Market Size and Volume Forecast by Types
10.4.1. Prefabricated
10.4.2. Customized
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Foot Orthotic Insoles Demand Share Forecast, 2019-2026
11. Middle East & Africa Foot Orthotic Insoles Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Foot Orthotic Insoles Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Foot Orthotic Insoles Market Size and Volume Forecast by Types
11.4.1. Prefabricated
11.4.2. Customized
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Foot Orthotic Insoles Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Foot Orthotic Insoles Market: Market Share Analysis
12.2. Foot Orthotic Insoles Distributors and Customers
12.3. Foot Orthotic Insoles Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Dr. Scholl
12.4.2. Superfeet Worldwide
12.4.3. Bauerfeind Ag
12.4.4. Hanger Inc
12.4.5. Implus Llc
12.4.6. Footbalance Ltd
Methodology
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