Fact.MR – A Market Research and Competitive Intelligence Provider: As per a recent market analysis by Fact.MR, the global foot orthotic insoles market is projected to expand at a healthy 7.2% CAGR between 2020 and 2030.
Adult Patients Account for 7 out of 10 Foot Orthotic Insoles Sold Worldwide
Fact.MR’s latest survey offers comprehensive insights into trends and developments in the foot orthotic insoles market. It also covers analysis of segments including product, age group, application, material, end-user, and distribution channels across seven regions.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a recent market analysis by Fact.MR, the global foot orthotic insoles market is projected to expand at a healthy 7.2% CAGR between 2020 and 2030. Rising prevalence of arthritis, diabetic foot ulcers, and other foot disorders are fueling the demand for foot orthotic insoles in various countries.
Foot orthotic insoles provide comfort, support, and stabilize biochemical misalignment of feet. Many patients opting for customized foot insoles to achieve optimal comfort while performing daily tasks and to reduce pain.
Increasing incidence of chronic pain among the geriatric population is spurring demand for soft and accommodative foot orthotic insoles. Besides this, sales of foot orthotic insoles for patients with diabetic ulcers are projected to remain high over the forecast period.
As per the National Diabetes Statistics Report published by the Centre for Disease Control and Prevention (CDC), 34.2 million people (10.5% of the U.S. population) had diabetes in 2020. By 2030, the number is projected to reach 366 million. As a result, the incidence of diabetic foot ulcers will increase in the forthcoming years.
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Considering this, manufacturers are investing in research and development and are collaborating with research institutes to offer comfortable foot orthotic insoles to a large pool of patients.
The market is expected to prospect in the coming years, thanks to the integration of artificial intelligence and 3D printing is foot orthotic insole manufacturing. Some of the leading players have already joined the bandwagon. For instance, Pennsylvania-based 8sole offers custom-made, 3D-printed prescription orthotic insoles that offer optimal comfort and pain relief. These insoles exert 50% of the patients’ weight while standing, and over 120% while walking.
“Rising incidence of varicose veins and plantar fasciitis among diabetic patients, along with availability of customized and prefabricated insoles through online sales channels will continue fueling sales of foot orthotic ulcers over the forecast period,” says a Fact.MR analyst.
Key Takeaways from Foot Orthotic Insoles Market Survey
- Based on product type, sales of custom soft/accommodative insoles are projected to grow at a 12% CAGR.
- The adult foot orthotic insoles segments is anticipated to account for 70% of sales of foot orthotic insoles through 2030.
- Applications of medical foot orthotic insoles in the healthcare sector are expected to remain high, accounting for over 50% of the total market share.
- Ethyl-vinyl-acetate (EVA) is projected to remain the most preferred material, holding 1/5th of the total market share through 2031.
- The U.S. is anticipated to lead the North America foot orthotic insoles market, with sales growing at a 9% CAGR through 2031.
- The U.K. will emerge as a lucrative market owing to high incidence of foot disorders in the geriatric population.
- Germany will continue witnessing high demand for foot orthotic insoles due to rising prevalence of diabetic foot ulcers in the country.
Growth Drivers:
- Growing demand for cost-effective and non-invasive foot treatment is anticipated to push sales of foot orthotic insoles.
- Rising incidence of sports-related injuries such as joint dislocation and muscle tear among athletes will continue providing tailwinds to foot orthotic insoles sales.
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Competitive Landscape
Leading players operating in the global foot orthotic insoles market are investing in strategic collaborations, mergers, and acquisitions to expand their global footprint. Apart from this, manufacturers are investing in cutting-edge manufacturing processes such as 3D printing to gain a competitive edge in the market.
For instance, Aetrex Worldwide Inc. offers a wide range of orthotic products that are suitable for patients suffering from plantar fasciitis, high arches, flat feet, and ball of foot discomfort. The company uses 3D printing technology to create customized foot orthotic insoles.
Key Players in the 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.
More Valuable Insights on Foot Orthotic Insoles Market
Fact.MR provides an unbiased analysis of the foot orthotic insoles market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global foot orthotic insoles market with a detailed segmentation on the basis of:
Product:
- Prefabricated
- Custom
- Rigid/Function Orthotic Insoles
- Soft/Accommodative Insoles
Age Group:
- Adult
- Pediatric
Application:
- Sports & Athletics
- Medical
- Personal Comfort
Material:
- Thermoplastics
- Polyethylene Foams
- Leather
- Cork
- Composite Carbon Fibers
- EVA
- Gel
- Others
End-User:
- Prefabricated
- Adult
- Pediatric
- Custom
- Adult
- Pediatric
Distribution Channel:
- Drug Stores
- Hospitals & Specialty Clinics
- Online Stores
- Others
Regions:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions Covered in the Foot Orthotic Insoles Market Report
- The report offers insight into foot orthotic insoles market demand outlook for 2020-2030
- The market study also highlights projected sales growth for foot orthotic insoles market between 2020 and 2030
- Foot orthotic insoles market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Foot orthotic insoles market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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