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Foot Orthotic Insoles Market- By Manufacturing Method (Pre-Fabricated, Custom & Others), By Flexibility (Rigid, Semi-rigid, Soft Orthotic Insole), By Type of Material [Thermoplastics, Ethylene Vinyl Acetate (EVA), Foam, Composite Carbon Fibre & Others], By End Use (Sports, Medical & Others), By Gender Use (Male, Female & Unisex), By Distribution Channel (Hospitals/Clinics, Retail Store, Online Stores & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Foot Orthotic Insoles Market Overview:
The Foot Orthotic Insoles Market size is estimated to reach $6.3 billion by 2030, growing at a CAGR of 6.6% during the forecast period 2024-2030. Increasing foot problems, such as flat feet, plantar fasciitis, and heel spurs, and the growing demand for comfortable and supportive footwear propel the Foot Orthotic Insoles Market growth.
According to Orthopedic Associates, 25% of the U.S. population has flat foot problems. Additionally, developing advanced materials and technologies, including smart insoles and 3D printing, which improve the accuracy and effectiveness of foot orthotic insoles, contributes to market growth. Simultaneously, e-commerce and increasing healthcare expenditure are also driving the market. Overall, the foot orthotic insole market is expected to grow as more people seek relief from foot pain and discomfort.
Market Snapshot:
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Foot Orthotic Insoles Market - Report Coverage:
The “Foot Orthotic Insoles Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Foot Orthotic Insoles Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
• Due to the global economic crisis caused by the Covid pandemic, the market has been impacted by supply chain disruptions, manufacturing delays, and decreased consumer spending. During lockdowns, footwear stores and clinics were temporarily closed, which decreased foot orthotic insole sales. On the other side, the pandemic has heightened awareness of the significance of foot health, as people have spent more time at home and been more aware of the effect footwear has on their overall health. Hence, the need for foot orthotic insoles has skyrocketed.
• The Ukraine-Russia conflict has a feeble impact on the global market for orthotic insoles. The situation had negative effects on the affected regions, including supply chain disruptions, increased costs, and decreased consumer confidence. Moreover, the shift of healthcare resources and priorities to the affected regions, is also set to constrain the domestic & regional market growth.
Key Takeaways:
• Fastest Growth of Asia-Pacific Region
Geographically, in the global Foot Orthotic Insoles market share, Asia Pacific is analyzed to grow with the highest CAGR of 7.1% during the forecast period 2024-2030. The increasing prevalence of foot-related disorders, rising awareness of foot health, technological advancements in manufacturing, and increasing adoption of e-commerce led to a greater demand for foot orthotics insoles in this region. According to the American Diabetes Association, more than 60% of diabetic patients reside in Asia, with almost half in India and China, resulting in greater diabetic foot problems in APAC.
• Pre-Fabricated Manufacturing Segment is Leading the Market
According to the Foot Orthotic Insoles Market forecast, the prefabricated segment held the largest market valuation of $2.4 billion in 2023. This sector leads the market because of its affordability, accessibility, diversity, and non-invasiveness. Healthcare practitioners commonly recommend prefabricated foot orthotic insoles as a first-line treatment for various common foot conditions since they are both practical and affordable.
• Prevalence of Foot Disorders and Conditions Fuels the Market Growth
According to the WHO (World Health Organization), around 20% of the global population suffers from foot problems. Foot orthotic difficulties are more widespread in older people, with up to 87% reporting foot issues. The prevalence of foot illnesses and conditions such as flat feet, plantar fasciitis, diabetic foot troubles, and heel spurs is growing. These conditions may trigger discomfort, agony, and mobility issues, which increases the demand for foot orthotic insoles. This industry is growing due to technological advancements and rising awareness of the benefits of foot orthotics in reducing foot issues.
• Composite Fiber Insoles to Register the Fastest Growth
In the Foot Orthotic Insoles Market analysis, the insoles made from the material composite fiber are estimated to grow with the highest CAGR of 7.7% during the forecast period 2024-2030. Composite fiber is suitable for foot orthotic insoles since it is durable, lightweight, flexible, water-resistant, and hypoallergenic. It maintains its shape over time, adheres to the foot's shape, keeps the foot dry and healthy, and is less prone to cause skin irritation or allergic responses.
• Revolutionizing Orthotics with 3D Printing
3D printing is transforming the foot orthotic insole market by producing more accurate and customized insoles faster. This technology enables the creation of insoles that are precisely molded to the shape of an individual's foot, resulting in improved comfort and fit. 3D printing also has the potential to reduce waste and is driving innovation in materials and designs for foot orthotic insoles.
For instance, Dr Scholl's, a foot care brand, has partnered with Wiivv to provide customized 3D-printed insoles. Wiivv is a technology company that mastered developing 3D scanning apps and biometric insoles and collaborated with Dr Scholl’s to offer a personalized experience to the customers for better treatment.
• High Cost for Customizable Foot Orthotic Insole
Custom orthotic foot insoles are typically more expensive than prefabricated insoles, making them unaffordable to some users and restricting the potential market for these items. Even in certain countries, health insurance does not cover foot orthotic insoles, making them difficult for some consumers to afford.
Foot Orthotic Insoles Market Share (%) By Region, 2023
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies players in the Foot Orthotic Insoles Market adopt. The top 10 companies in this industry are listed below:
1. Hanger Inc.
2. Reckitt Benckiser Group PLC
3. Implus Footcare LLC
4. Superfeet Worldwide Inc.
5. Bauerfeind AG
6. Ottobock SE & Co. KGaA
7. Aetrex Worldwide, Inc.
8. Footbalance Systems Ltd.
9. Össur hf
10. Algeo Limited
11. Groupe Gorge
12. Colfax Corporation
13. Materialise NV
14. New Balance Athletics, Inc.
15. Darco International Inc
Scope of the Report:
Relevant Reports:
Report Code: HCR 0057
Report Code: HCR 0009
For more Lifesciences and Healthcare Market reports, please click here
1.Foot Orthotic Insoles Market - Overview
1.1.Definitions and Scope
2.Foot Orthotic Insoles Market - Executive Summary
3.Foot Orthotic Insoles Market - Comparative Analysis
3.1.Company Benchmarking - Key Companies
3.2.Global Financial Analysis - Key Companies
3.3.Market Share Analysis - Key Companies
3.4.Patent Analysis
3.5.Pricing Analysis
4.Foot Orthotic Insoles Market - Start-up Companies Scenario (Premium)
4.1.Key Start-up Company Analysis by
4.1.1.Investment
4.1.2.Revenue
4.1.3.Venture Capital and Funding Scenario
5.Foot Orthotic Insoles Market – Market Entry Scenario Premium (Premium)
5.1.Regulatory Framework Overview
5.2.New Business and Ease of Doing Business Index
5.3.Case Studies of Successful Ventures
6.Foot Orthotic Insoles Market - Forces
6.1.Market Drivers
6.2.Market Constraints
6.3.Market Challenges
6.4.Porter's Five Force Model
6.4.1.Bargaining Power of Suppliers
6.4.2.Bargaining Powers of Customers
6.4.3.Threat of New Entrants
6.4.4.Rivalry Among Existing Players
6.4.5.Threat of Substitutes
7.Foot Orthotic Insoles Market – Strategic Analysis
7.1.Value Chain Analysis
7.2.Opportunities Analysis
7.3.Market Life Cycle
8.Foot Orthotic Insoles Market – By Manufacturing Method (Market Size
–$Million/$Billion)
8.1.Pre-Fabricated
8.2.Custom
8.3.Others
9.Foot Orthotic Insoles Market – By Flexibility (Market Size –$Million/$Billion)
9.1.Rigid Orthotic Insoles
9.2.Semi-rigid Orthotic Insoles
9.3.Soft Orthotic Insoles
10.Foot Orthotic Insoles Market – By Type of Material (Market Size –$Million/$Billion)
10.1.Thermoplastics
10.2.Ethyl-vinyl Acetate (EVA)
10.3.Foam
10.4.Composite Carbon Fibre
10.5.Others
11.Foot Orthotic Insoles Market – By End Use (Market Size –$Million/$Billion)
11.1.Sports
11.2.Medical
11.3.Others
12.Foot Orthotic Insoles Market - By Gender Use
12.1.Male
12.2.Female
12.3.Unisex
13.Foot Orthotic Insoles Market - By Distribution Channel
13.1.Hospitals/Clinics
13.2.Retail Stores
13.3.Online Stores
13.4.Others
14.Foot Orthotic Insoles Market – By Geography (Market Size – $Million/$Billion)
14.1.North America
14.1.1.The U.S.
14.1.2.Canada
14.1.3.Mexico
14.2.Europe
14.2.1.UK
14.2.2.Germany
14.2.3.France
14.2.4.Italy
14.2.5.Spain
14.2.6.Russia
14.2.7.Rest of Europe
14.3.Asia-Pacific
14.3.1.China
14.3.2.India
14.3.3.Japan
14.3.4.South Korea
14.3.5.Australia & New Zealand
14.3.6.Rest of Asia-Pacific
14.4.South America
14.4.1.Brazil
14.4.2.Argentina
14.4.3.Chile
14.4.4.Colombia
14.4.5.Rest of South America
14.5.Rest of the World
14.5.1.Middle East
14.5.2.Africa
15.Foot Orthotic Insoles Market – Entropy
16.Foot Orthotic Insoles Market – Industry/Segment Competition Landscape
16.1.Market Share Analysis
16.1.1.Market Share by Type of Material – Key Companies
16.1.2.Market Share by Region – Key Companies
16.1.3.Market Share by Country – Key Companies
16.2.Competition Matrix
16.3.Best Practices for Companies
17.Foot Orthotic Insoles Market – Key Company List by Country Premium
18.Foot Orthotic Insoles Market - Company Analysis
18.1.Hanger Inc.
18.2.Reckitt Benckiser Group PLC
18.3.Implus Footcare LLC
18.4.Superfeet Worldwide Inc.
18.5.Bauerfeind AG
18.6.Ottobock SE & Co. KGaA
18.7.Aetrex Worldwide, Inc.
18.8.Footbalance Systems Ltd.
18.9.Össur hf
18.10.Algeo Limited
18.11.Groupe Gorge
18.12.Colfax Corporation
18.13.Materialise NV
18.14.New Balance Athletics, Inc.
18.15.Darco International Inc.
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The Foot Orthotic Insoles Market is projected to grow at 6.6% CAGR during the forecast period 2024-2030.
The Global Foot Orthotic Insoles Market size is estimated to be $4 billion in 2023 and is projected to reach $6.3 billion by 2030.
The leading Foot Orthotic Insoles Market players are Hanger Inc, Reckitt Benckiser Group PLC, Implus Footcare LLC, Bauerfeind AG, Superfeet Worldwide Inc and others.
Technological advancements such as smart insoles and 3D printing for customizable orthotic insoles using advanced materials and growing awareness of the benefits of foot orthotics will create growth opportunities for the market during the forecast period.
Foot conditions and ailments such as flat feet, plantar fasciitis, and heel spurs, as well as the increasing demand for comfortable and supportive footwear, drive market expansion.