Customized Segment to Grow at Faster Pace During Forecast Period
According to the latest study on “North America Foot Orthotic Insoles Market Forecast to 2027 – Covid-19 Impact and Analysis – by Product Type, Material, Application, and Distribution Channel,” the market was valued at US$ 1,388.81 million in 2019 and is projected to reach US$ 2,192.39 million by 2027; it is expected to grow at a CAGR of 6.0% during 2020–2027. The report highlights trends prevailing in the North America foot orthotic insoles market and factors driving and restraining the market growth.
Based on product type, the North America foot orthotic insoles market is further segmented into customized and prefabricated. The customized segment held the largest share of the market in 2019, whereas the same segment is anticipated to register the highest CAGR of 6.4% in the market during the forecast period. The rising healthcare spending worldwide and aging population mostly drives the growing demand for customized foot insoles market. For instance, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015, as per the U.S. Census Bureau.
The North America foot orthotic insoles market is expected to grow owing to the factors such as the increasing incidence of diabetes, arthritis, and other foot conditions and growing demand from sports sector .However, lack of adoption in emerging economies is likely to hamper the growth of the market during the forecast period.
Aetrex Worldwide, Inc, Bauerfeind AG, OttoBock, Superfeet Worldwide Inc., Sidas, Algeos, Amfit Inc, Acor Orthopaedic, Inc. and YELLOW WOOD PARTNERS, LLC are among the leading companies operating in the North America foot orthotic insoles market.
The report segments the North America foot orthotic insoles Market as follows:
- Customized
- Prefabricated
By Material
- Thermoplastics
- Polyethylene foams
- Leather
- Cork
- Composite Carbon Fibers
- Ethyl-vinyl acetates (EVAs)
- Gel
- Others
By Application
- Sports and Athletics
- Medical
- Personal Comfort
By Distribution Channel
- Drug Stores
- Hospitals and Specialty
- Online Stores
- Others
By Country
- US
- Canada
- Mexico