Rise In Occurrence Of Foot Ulcers, Rheumatoid Arthritis, And Osteoarthritis Across The Globe Is Upscaling Adoption Of Foot Orthotic Insoles And Is Expected To Boost The Growth By 7% CAGR During 2020-2030
Rise In Number Of Diabetic Patients Across The Globe Led To A Y-O-Y Growth Of Over 5% And Reached A Valuation Of US $ 1.3 Billion In 2019
Fact.MR – A Market Research and Competitive Intelligence Provider: The global foot orthotic insoles market was valued at US$ 1.3 Bn in 2019 and is expected to CAGR of 7% till 2030.
Number of diabetic patients worldwide is projected to increase to 366 million in 2030. Moreover, foot ulcers are expected to affect 1-4% paitents across the United States. Diabetes mellitus, one of the common degenerative disease, affects 425 million people globally, projected to increase to 629 million by 2045. These factors are expected to boost the growth of the market during forecast period.
Various benefits offered by orthotic insoles such as ensuring maximum comfort to patients suffering from foot aliments is expected to support the growth of the market.
For More Insights on this Market, Get A Sample Report!
https://www.factmr.com/connectus/sample?flag=S&rep_id=4666
Also, orthoses are preferred as this is one of the most appropriate non-invasive approach. Moreover, surge in number of foot disorders from various chronic conditions and external injuries is expected to support the growth of the market. However, initial cost of orthotic insoles is discouraging healthcare companies to invest in these products.
Key Takeaways:
- Foot orthotic insoles sales across the US experienced a Y-o-Y growth of over 5% to reach US $ 1.3 Billion. Moreover, the market is set to further grow at a CAGR of nearly 9% through 2030.
- By product type, custom soft insoles are expected to experience a 12.1% CAGR across 2020-2030 assessment period.
- The adult orthotic insoles segment is likely to account for a maximum share of the market, capturing around 70% of the overall revenue during the forecast period. Similarly, the pediatric segment is experiencing growth of 6% through 2030.
- By material type, ethyl-vinyl-acetate (EVA) based insoles are expected to capture the maximum share of around 1/5th of the total revenue share through 2030.
Growth Drivers:
- Rising prevalence of osteoarthritis, rheumatoid arthritis is upscaling the adoption of orthotic insoles across the globe.
- Prevalence of inherent foot problems in various developed regions such as France, UK and is expected to boost the growth of the market
- Countries such as France, UK bear a heavy burden of diabetics, providing lucrative opportunities to insole manufacturers with an opportunity to penetrate the region’s market.
- Prominent footwear manufacturers in the market are focusing on orthotic insoles. For instance, Bar Schuhe, footwear manufacturer offers insoles with a variety of features and materials ranging from leather to other fabrics.
Restraints:
- Initial cost of purchasing orthotic insoles is acting as a restraint to the market. Moreover, limited awareness related to orthotic insoles in developing nations is expected to act as a challenge for the growth of the market.
To Gain In-Depth Insights on Foot Orthotic Insoles Market, Request Methodology at
https://www.factmr.com/connectus/sample?flag=RM&rep_id=4666
Competitive Landscape:
Key players in the market are focusing on multiple expansion strategies to deepen penetration and gather higher market share. Strategies such as product launch, collaborations such as acquisition and mergers are highly adopted. For instance,
- Aetrex Worldwide Inc., manufactures a host of orthotics products, which are highly suitable for patients affected with plantar fasciitis, foot aches arising from standing professions.
- In December 2018, Bauerfeind AG had signed a partnership agreement with the National Basketball Association to market its medical knee supporters through the GenuTrain NBA platform
- In 2018, Cascade Dafo Inc. launched two new product lines: the Fast Fit BugTM and JumpStart SoftbackTM.
Key Companies Profiled by Fact.MR
- Aetrex Worldwide Inc.
- Bauerfeind AG
- Acor Orthopedic
- Amfit Inc.
- Blatchford Clinical Services
- Dr. Scholl’s (Bayer)
- Salts Techstep
- The Foot Lab
- Arden Orthotics Ltd.
- Bolton Bros
- Cascade Dafo Inc.
- Algeo Limited
- Tynor Orthotics Pvt. Ltd.
More Valuable Insights on Foot Orthotic Insoles Market
Segmentation of Foot Orthotic Insoles Market
- Product:
- Prefabricated
- Custom
- Rigid/Function Orthotic Insoles
- Soft/Accommodative Insoles
- Age Group
- Adult
- Pediatric
- Application
- Sports & Athletics
- Medical
- Personal Comfort
- Material
- Thermoplastics
- Polyethylene Foams
- Leather
- Cork
- Composite Carbon Fibers
- EVA
- Gel
- Others
- End User
- Prefabricated
- Adult
- Pediatric
- Custom
- Adult
- Pediatric
- Prefabricated
- Distribution Channel
- Drug Stores
- Hospitals & Specialty Clinics
- Online Stores
- Others
- Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Interested to Procure The Data? Inquire here https://www.factmr.com/connectus/sample?flag=EB&rep_id=4666
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
Explore Fact.MR's Coverage on the Healthcare Domain-
Antimicrobial Susceptibility Test Market - Antimicrobial Susceptibility Test Market Analysis Repot By Product (Kits, Reagents, & Consumables, Automated Test Systems, Culture Media), By Application (Clinical Diagnosis, Drug Discovery and Development), By End User, By Region - Global Insights 2020-2025
Anticoagulant Reversal Drugs Market - Anticoagulant Reversal Drugs Market Analysis Repot By Product (Prothrombin Complex Concentrates, Vitamin K, Protamine, Tranexamic Acid, Idarucizumab, Andexxa), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies), By Region - Global Insights 2020-2026
Anticancer Drugs Market - Anticancer Drugs Market Analysis Repot By Drug Type (Targeted Drugs, Cytotoxic Drugs, Hormonal Drugs), By Cancer Type (Lung Cancer, Breast Cancer, Leukemia, Colorectal Cancer), By Therapy (Chemotherapy, Targeted Therapy, Immunotherapy) - Global Market Forecast 2020-2025
Dental 3D Printing Market - Dental 3D Printing Market Size, Trend Analysis & Competition Tracking By Material (Metals, Photopolymers, Ceramics), By Application (Dental Implants, Dentures, Crowns & Bridges), By Technology (Vat Photo Polymerization, Fused Deposition Modelling, PolyJet Technology, Selective Laser Sintering) - Global Market Insights 2021 to 2031
Behavioural Health Treatment Market - Behavioural Health Treatment Market Analysis Report By Disorder (Depression, Anxiety, Schizophrenia, Bipolar Disorder, Alcohol Use Disorders, Substance Use Disorders, Eating Disorders, Post-traumatic Stress Disorders), By Service, By Region -Global Forecast 2020-2027
Assisted Reproductive Technology Market - Assisted Reproductive Technology Market Analysis Report By Procedure (Frozen Donor, Frozen Non-donor, Fresh Donor, Fresh Non-donor, Embryo Banking), By Technology (In-vitro Fertilization, Surrogacy, Artificial Insemination), By End User(Fertility Clinics, Hospitals, Other )- Global Market Insights to 2019-2025
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-158