Customized Segment to Grow at Faster Pace During Forecast Period
According to the latest study on “South and Central 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$ 165.64 million in 2019 and is projected to reach US$ 222.41 million by 2027; it is expected to grow at a CAGR of 3.9% during 2020–2027. The report highlights trends prevailing in the South and Central America foot orthotic insoles market and factors driving and restraining the market growth.
Based on product type, the South and Central 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 4.2% in the market during the forecast period.
The South and Central 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, less adoption of foot orthotic insoles due to lack of awareness in emerging economies hinders the growth of the foot orthotic insoles market.
Aetrex Worldwide, Inc, Bauerfeind AG, OttoBock, Superfeet Worldwide Inc., Sidas, Algeos, and YELLOW WOOD PARTNERS, LLC are among the leading companies operating in the South and Central America foot orthotic insoles market.
The report segments the South and Central 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
- Brazil
- Argentina
- Rest of South and Central America