Foot Orthotic Insoles Market Analysis & Growth | 2021- 2027

The foot orthotic insoles market was valued at US$ 3,560.00 million in 2019 and is projected to reach US$ 5,464.57 million by 2027; it is expected to grow at a CAGR of 5.7%from 2020 to 2027.

Foot orthoses, which are commonly referred to as orthotics, are devices made to insert into the shoes, which provides off-loading foot structures and cushioning. Foot orthoses are used in attachment to the standard medical care of patients with foot and lower limb problems, including plantar heel pain, rheumatoid arthritis, pronated foot, diabetic risk plantar.The adoption of foot orthotic insoles services has grown at unprecedent rate in last few years owing to the increasing incidence of diabetes, arthritis, and other foot conditions. Additionally, aging population, and growing demand from sports sectorare further emphasizing on the adoption of foot orthotic insolesworldwide. Moreover, introduction of 3D printed orthotics insoles is expected to foster the market growth during the forecast period. However, less adoption of foot orthotics insoles due to lack of awareness in emerging economies is restricting the Foot Orthotic Insoles market growth.

As North America has been witnessing growing number of COVID-19 cases since the viral outbreak. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak wordwide. The expected decline in the global sales of foot orthotic insoles is attributable to massive supply chain disruptions across significant export markets, including China and India.

Lucrative Regions forFoot Orthotic Insoles Market

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Market Insights

Increasing Incidence of Diabetes, Arthritis, and Other Foot Conditions Drives Foot Orthotic Insoles Market Growth

Orthotic insoles are used to maintain the health of feet of patients with conditions, such as rheumatoid arthritis and diabetes.  Orthotic devices are also extensively used in sports activities to improve skeletal function, thus enhancing the performance of the athlete. With the progression of age, cartilages become prone to strain and fatigue due to less water content and connective tissues such as ligaments attached to the bones become less flexible. This causes many complications such as arthritis. Lifestyle changes coupled with changing dietary habits lead to obesity, which puts pressure on the joints in lower extremity resulting in joint damage. As per the American Association of Orthopedic Surgeons, the obese population is 20 times more likely to undergo knee replacement surgery compared to those who are not overweight.

Rising diabetes-associated risks such as diabetic foot ulcers and pressure sores are boosting the demand for foot orthotic insoles. Diabetic foot ulcers (DFUs) are severe and chronic. As per the International Diabetes Federation (IDF), DFUs affect approximately 40–60 million people with diabetes worldwide. Given the seriousness of foot ulceration, there is an increasing focus on preventing the ulceration. Elevated plantar pressures are recognized as one of the risk factors for first ulceration and international guidelines suggest the use of orthotic insoles to reduce pressures. Increasing prevalence of diabetes is expected to boost the adoption of foot orthotic insoles in the coming years. As per the IDF, in 2019, approximately 463 million adults worldwide had diabetes, and this number is expected to reach 700 million by 2045. Apart from this, rise in cases of rheumatoid arthritis (RA) is likely to increase the demand for foot orthotic insoles during the forecast period.

ProductType-BasedInsights

Based on drug type, the foot orthotic insolesmarket is segmented into customized and prefabricated. The customized segment held a larger share of the market in 2019. Also, the samesegment is anticipated to register a higher CAGR during the forecast period. The growth of the market for customized insolesis attributed to rising demand from medical, and sports sector.

Foot Orthotic Insoles Market, by ProductType – 2019and 2027

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Material-BasedInsights

Based on material, the foot orthotic insolesmarket is segmented into thermoplastics, polyethylene foams, leather, cork, composite carbon fibers, ethyl-vinyl acetates (EVAs), gel and others. The polyethylene foams segment held the largest share of the market in 2019; whereas, the thermoplastics segment is anticipated to register the highest CAGR during the forecast period. The growth of thermoplastics segment can be attributed to its wide range of properties such as custom hardness, durability, breathability, and less time required for production.Moreover, thermoplastic materials are favorable for the fabrication of orthoses for the elderly population. Hence, the thermoplastic segment is expected to witness lucrative growth owing to associated benefits.

Application-Based Insights

Based on application, the foot orthotic insolesmarket is segmented into sports and athletics, medical, and personal comfort. The medical segment held a larger share of the market in 2019. However, the sports and athletics segment is anticipated to register a higher CAGR during the forecast period. The growth of sports and athletics segment is attributed to the increasing sports injuries worldwide.

Distribution Channel-Based Insights

Based on distribution channel, the foot orthotic insoles market is segmented into drug stores, hospitals and specialty clinics, online stores, and others. The hospitals and specialty clinics segment held a larger share of the market in 2019. However, the online stores segment is anticipated to register a higher CAGR during the forecast period. The growth of online stores segment is attributed to the rising popularity of e-commerce platforms and availability of wide range of products and brands.

Strategic Insights

Product launches, mergers and acquisitions, collaborations, and expansions are the commonly adopted strategies by various companies to expand their footprint worldwide and meet the growing demand by expanding their respective product portfolios. The players operating in the foot orthotic insolesmarket adopted the product innovations strategy to cater to the changing customer demands across the world, which also permits them to maintain their brand name in a global market.

Foot Orthotic Insoles Market – byProduct Type

• Customized
• Prefabricated

Foot Orthotic InsolesMarket – by Material

• Thermoplastics
• Polyethylene foams
• Leather
• Cork
• Composite Carbon Fibers
• Ethyl-vinyl acetates (EVAs)
• Gel
• Others

Foot Orthotic Insoles Market – by Application

• Sports and Athletics
• Medical
• Personal Comfort

Foot Orthotic Insoles Market – by Distribution Channel

• Drug Stores
• Hospitals and Specialty
• Online Stores
• Others

Foot Orthotic InsolesMarket– by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe

• Asia Pacific(APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East and Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South and Central America (SCAM)

  • Brazil
  • Argentina
  • Rest of SCAM

Company Profiles

• Aetrex Worldwide, Inc
• Bauerfeind AG
• OttoBock
• Superfeet Worldwide Inc.
• Sidas
• Algeos
• Amfit Inc
• Arden Orthotics
• AcorOrthopaedic, Inc.
• Yellow Wood Partners, LLC