Press release
Foot Orthotic Insoles Global Market Report 2024: Top Key Players, Industry Growth, Trends And Forecasts 2033
The Business Research Company offers in-depth market insights through Foot Orthotic Insoles Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The foot orthotic insoles market size has grown strongly in recent years. It will grow from $3.55 billion in 2023 to $3.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to medical advancements in podiatry, technological innovations in materials, sports medicine influence, health conscious consumer trends, fashion and functionality merge..
The foot orthotic insoles market size is expected to see strong growth in the next few years. It will grow to $5.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to rise in chronic conditions, e-commerce expansion, aging population influence, fashionable and functional designs, medical community recommendations, athletic and fitness trends.. Major trends in the forecast period include medical professional recommendations, fashion and comfort fusion, sports and fitness market growth, customization and personalization, advancements in material science..
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Market Segmentation:
The foot orthotic insoles market covered in this report is segmented -
1) By Type: Prefabricated, Customized
2) By Material: Thermoplastics, Polyethylene Foams, Leather, Cork, Composite Carbon Fibers, Ethylene-vinyl Acetate, Gel, Other Materials
3) By Application: Medical, Sports And Athletics, Personal
4) By Distribution Channel: Drug Stores, Hospitals And Specialty Clinics, Online Stores, Other Distribution Channels
Major Driver - Growing Diabetes Prevalence Boosts Foot Orthotic Insoles Market
The rising prevalence of diabetes is expected to propel the growth of the foot orthotic insoles market going forward. Diabetes is a long-term metabolic condition marked by high blood glucose (also known as blood sugar), which over time can seriously harm the heart, blood vessels, eyes, kidneys, and nerves. Foot orthotic insoles are required to treat diabetic feet that have already experienced Charcot arthropathy and foot ulcers. Hence, the rise in the prevalence of diabetes will lead to an increase in demand for foot orthotic insoles. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation (IDF), a Germany-based organization of over 230 national diabetes associations, in 2021, around 537 million adults (20-79 years old) have diabetes globally, and is anticipated that this figure would increase to 643 million by 2030 and to 783 million by 2045. Therefore, the rise in the prevalence of diabetes is driving the growth of the foot orthotic insoles market.
Competitive Landscape:
Major companies operating in the foot orthotic insoles market report are Hanger Inc., Implus LLC, Footbalance Systems Ltd., Thuasne SAS, Foot Science International, Aetrex Worldwide Inc., Tynor Orthotics Pvt. Ltd., DJO Global Inc., Acor Orthopedic Inc., Algeo Limited, KLM Laboratories Inc., Arden Orthotics Ltd., Bauerfeind AG, ComfortFit Orthotic Labs Inc., Bolton Bros Limited, Superfeet Worldwide Inc., Birkenstock Orthopädie GmbH & Co. KG, Spenco Medical Corporation, SOLO Laboratories Inc., Foot Levelers Inc., Vasyli Medical, Ottobock SE & Co. KGaA, Össur hf Corp., Fillauer LLC, Cascade Dafo Inc., Allard USA Inc., ProLab Orthotics Ltd., SureFit Inc., Langer Biomechanics, Pedorthic Shoe Company .
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Top Trend - Innovative Products Drive Foot Orthotic Insoles Market
Product innovation is the key trend gaining popularity in the foot orthotic insoles market. Major companies operating in the foot orthotic insoles market are focusing on developing innovative products to sustain their market position. For instance, in May 2022, New Balance, a US-based sports footwear and apparel manufacturer, launched casual therapeutic cushion insoles, a new insole shaped by Superfeet. The unique feature of casual therapeutic cushion insoles is the design, which uses extra-soft foam that conforms to the foot and offers relief to people with sensitive feet. The foot is supported while moving due to the flexible construction and heel-to-toe cushioning that cradles the foot to relieve discomfort. The insoles are created using hypoallergenic materials to accommodate sensitive skin.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Foot Orthotic Insoles Market Characteristics
3. Foot Orthotic Insoles Market Trends And Strategies
4. Foot Orthotic Insoles Market - Macro Economic Scenario
5. Foot Orthotic Insoles Market Size And Growth
…..
27. Foot Orthotic Insoles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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