Zion Market Research has published a new report titled “Foot Orthotics Insole (Leather, Polypropylene and Others) Market by End-user (Sports, Medical and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”According to the report, the global foot orthotic insoles market was valued at approximately USD 2,637.0 million in 2015 and is expected to reach approximately USD 3,678.0 million by 2021, growing at a CAGR of around 5.6% between 2016 and 2021.
Foot orthotic insole is a supportive device that is placed inside footwear, to change the mechanical function of the foot. Foot orthotic insole works dynamically during weight-bearing activities like walking, running and standing. Orthotic devices help to improve the functions of the injured body part and to facilitate alignment through supporting the back, joints, muscles, and limb ligaments. The use of orthotic supports ensure healthy foot mechanics and can help to relieve inflammation, as well as to restrict movement to speed up healing when the toes, ankles and knees have been damaged.
Browse 41 Market Tables and 21 Figures spread through 100 Pages and an in-depth TOC on “Foot Orthotics Insoles Market- Global Size, Shares, Trends, Segment& Forecast to 2021”
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The foot orthotic insoles market is set to grow at a substantial pace over the next few years. Increasing aging population, growing lifestyle coupled with disorders such as diabetes, obesity and other foot injuries has propelled the demand for foot orthotics insole across the globe. Furthermore, increasing demand from sports application sectors are expected to boost the market demand over the years. However, high cost of insoles may curtail the growth of the foot orthotics insoles market. Nonetheless, technological advancement to provide innovative products is expected to open up new growth avenues in the coming years.
In terms of revenue, North America held more than 43% share of the global foot orthotic insoles market and is set to dominate the world marketplace within the forecast period. This growth is mainly attributed to the increasing health awareness amongst the population coupled with technological advancement. Moreover, diabetes is the main cause of lower limb amputations, with over 50% of non-traumatic amputations owing to diabetic problems. With increasing incidence of diabetes in this region, demand for foot orthotics insoles is projected to grow considerably in turn driving the demand for foot orthotic insoles in the near future.
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North America was followed by Europe in terms of revenue in 2015. Europe was another leading regional market and it held 26.38% market share of total revenue generated in 2015. The key driving factor for growth of foot orthotic insole market in Europe is growing aging population coupled with availability of a wide patient pool requiring urgent orthotic support and attention.
Asia Pacific is expected to witness high demand for foot orthotic insoles owing to the rise in prevalence of chronic diseases. Moreover, disposable income of the population and increasing awareness about foot orthotic insoles are expected to propel the foot orthotic insole demand in the years to come. In addition, foot orthotic insoles market has huge opportunity in the emerging markets of Asia Pacific due to the increasing population coupled with the rising health awareness among people especially in China and India.
Middle East & Africa foot orthotic insole market is expected to witness moderate growth in the near future. The major trend driving the market in this region is the increase in incidences of chronic diseases including diabetes, arthritis and cancer. Latin America is another important regional market and expected to experience significant growth over the forecast period.
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The foot orthotics insole market is fragmented in nature with key companies focusing extensively on R&D initiatives in an attempt to capitalize on the available opportunities via developing cost effective and technologically advanced products. Some of the key players include in the foot orthotic insoles market such as Bauerfeind AG, Superfeet Worldwide, Inc, Hanger Orthopedic Group, Inc, Implus, Dr. Scholl’s, Spenco Medical Corporation, Aetrex Worldwide, Inc, Euroleathers, Comfortfit Orthotic Labs Inc, Sidas SAS, Sole, CurrexGmbh and OttoBock Holding GmbH & Co. KG.
This report segments the global foot orthotic insoles market as follows:
Foot Orthotic InsolesMarket: Product Segment Analysis
- Others (polyethylene foams, cork, acrylic, composite carbon fibers, etc.)
Foot Orthotic InsolesMarket: End user Segment Analysis
Foot Orthotic Insoles Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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