Press release
Prefabricated Foot Orthotic Insoles Market to Expand at a Healthy CAGR of 7% through 2031
Foot Orthotic Insoles Market
According to the National Library of Medicine, neuropathic foot ulcers are expected to surge across developing countries, attributed to high prevalence of type 2 diabetes, accelerating demand for orthotic insoles in upcoming years.
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Key Segments Covered of the Foot Orthotic Insoles Market
Product
Prefabricated
Custom
Rigid/Function Orthotic Insoles
Soft/Accommodative Insoles
Age Group
Adult
Pediatric
Application
Sports & Athle
tics
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
Region
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa (MEA)
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Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Foot Orthotic Insoles Market that are developing the current market scenario and which will be lucrative for the future demand of Foot Orthotic Insoles Market.
Crucial insights in Foot Orthotic Insoles market research report:
• Underlying macro- and microeconomic factors impacting the Sales of Foot Orthotic Insoles market.
• Basic overview of the Foot Orthotic Insoles, including market definition, classification, and applications.
• Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
• Adoption trend and supply side analysis of Foot Orthotic Insoles across various industries.
• Important regions and countries offering lucrative opportunities to market stakeholders.
U.S. Foot Orthotic Insoles Sales
Until 2019, foot orthotic insoles sales across the United States experienced a Y-o-Y growth of over 5% to reach US$ 1.3 Bn. The market is set to further aggrandize at a CAGR of nearly 9% through 2030. Increasing prevalence of foot disorders from underlying chronic conditions and external injuries are driving growth.
According to estimates released by Milford Podiatry Associates, three quarters of Americans are likely to experience foot health problems of varying severity degrees at different points in their lives. About 19% of the U.S population suffers from an average of 1.4 foot problems annually.
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Key Question answered in the Survey of Foot Orthotic Insoles market Report By Fact.MR
• Foot Orthotic Insoles Company & brand share analysis: Company and brand share analysis on Foot Orthotic Insoles Market reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
• Foot Orthotic Insoles Market Historical volume analysis: The industry analysis provides data & insights on historical volume sales of Foot Orthotic Insoles .
• Foot Orthotic Insoles Category & segment level analysis: Fact.MR's Foot Orthotic Insoles market sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
• Foot Orthotic Insoles market Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
• Post COVID consumer spending on Foot Orthotic Insoles market: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior
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Competition Landscape
The aforementioned players rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions and strengthening of regional and global distribution networks.
Aetrex Worldwide Inc., for instance, manufactures a host of orthotics products which are highly suitable for patients afflicted with plantar fasciitis, flat feet, high arches, heel pain, arch, ball of foot discomfort and foot aches arising from standing professions. Additionally, the company deploys 3D printing technologies to manufacture its products.
In December 2018, Bauerfeind AG inked a global licensing partnership agreement with the National Basketball Association (NBA) to market its medical knee supporters through the GenuTrain NBA platform, an officially licensed knee support of the league.
Also, in July 2018, Cascade Dafo Inc. introduced two new product lines: the Fast Fit BugTM and JumpStart SoftbackTM. The former is a low-profile shoe insert designed to control mild to moderate pronation with an optimal amount of support and comfort, yet minimal volume. The latter if a prefabricated AFO which provides lightweight, comfortable control of mild to moderate toe walking and knee hyperextension.
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How will foot orthotic insoles market expand until 2030?
The global foot orthotic insoles market to register a CAGR worth 7.2% across the 2020-2030 assessment period. High prevalence of foot disorders is anticipated to drive the growth in a positive direction
Which is the largest market for foot orthotic insole sales?
The United States is expected to pivot expansion, attributed to surging cases of diabetic foot ulcers and other underlying chronic conditions such as rheumatoid arthritis and osteoporosis.
What is the impact of 3D printing on foot orthotic insoles sales?
In recent years, 3D-printing of orthotic devices has been highly sought after, given the ever increasing penetration of advanced technologies in the manufacturing process.
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