Foot Orthotic Insoles Market revenue at US$ 3,165.4 Mn in 2017 and is projected to grow at a CAGR of 7.6% from 2018 to 2026 to propel US$ 6023.8 Mn by 2026. Foot orthotic insoles markets are proposed to support or correct the abnormal or unusual walking pattern.
They change the angle at which the foot strikes while walking and therefore aid the limb or the torso to restore the adjustment and positioning of the foot. Foot orthotic insoles are placed inside the shoes with the purpose of restore in natural foot function, and also they are used to overcome the malformation connected with the foot.
The main driver of the foot orthotic insoles market is Increase in the prevalence of diabetes disorders and Increase in demand from sports applications. They provide comfort to the feet and give relief to arch, shin, knee, heel, and lower back pain. Therefore to avoid such problem and risk, a variety of shoe inserts are used.
Technological advancement to provide innovative products is anticipated to open up new growth route in the upcoming years. The Growing geriatric population, Rapid urbanization, and associated lifestyle diseases, growing focus on improving quality of life, Innovations in production and modeling technologies of foot orthotic insoles are the major factors. The high cost of foot orthotic insoles may reduce the growth of the market in the upcoming years.
Foot orthotic insoles are segmented into the product, material, application, user age group, distribution channel, and region. Based on the product, the custom segment is composed to account for the leading share of the global market during the forecast period. The growth of the segment is attributed to significant funding from dare capitalists for these technologically advanced products and increase in use of customer-specific products having unique geometrical shape by urban population. The prefabricated segment is projected to be driven by a rise in a number of incidence of fractures, accidents, bone degeneration diseases, and arthritis.
On the basis of material, the ethyl vinyl acetates segment is likely to account for significant share of the market by the end of the forecast period. Use of an EVA footed in insole manufacturing is becoming increasingly popular owing to its comfort and support properties. Also, Polypropylene segment is expected to grow at the fastest rate during the forecast period. By application, Increase in the incidence of medical disorders and surge in demand for improved quality of life among the significant patient population is attributed to the continued dominance of the segment. Based on user age group, the adults' segment is projected to expand at the highest CAGR during the forecast period.
This is attributed to rising in prevalence of chronic diseases such as diabetes and arthritis among adults, an increase in the use of high heeled sandals by adult women. On the basis of a distribution channel, the online store's segment is projected to expand at the highest CAGR of 7.6% during the forecast period. The online platform allows new entrants to equally market their products and enables patient/consumers to choose and compare from a range of options available. In terms of region, North America accounted for a prominent share of the global foot orthotic insoles market. The foot orthotic insoles market in the Asia Pacific is projected to expand at a rapid CAGR during the forecast period owing to a surge in investment in health care infrastructure, a rise in disposable income of people.
Some of the key players in the foot orthotic insoles market are Bayer Group, Powerstep, Superfeet Worldwide, Inc., Ottobock, A. Algeo Ltd., Hanger, Inc., and Bauerfeind AG. Birkenstock digital GmbH, Ottobock SE & Co. KGaA, and Foot Science International.
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The Scope of the Foot Orthotic Insoles Market:
Foot Orthotic Insoles Market by Product
Foot Orthotic Insoles Market by Material
o Polyethylene Foams
o Composite Carbon Fibres
o Ethyl-vinyl Acetates (EVAs)
Foot Orthotic Insoles Market by Application
o Sports and Athletics
o Personal Comfort
Foot Orthotic Insoles Market by User Age Group
Foot Orthotic Insoles Market by Distribution Channel
o Drug Stores
o Hospitals and Specialty Clinics
o Online Stores
Foot Orthotic Insoles Market by Geography
o North America