The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future.
Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive the foot orthotic insoles market in the coming years.
To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/foot-orthotic-insoles-market
Further key findings from the report suggest:
- Increasing prevalence of diabetes and feet related diseases are anticipated to create growth opportunities in the market
- Polyethylene accounted for the largest revenue share as of 2018, owing to its high melt property and easy adjustment abilities
- The medical field held the largest share in the foot orthotic insoles market by application, fueled by increasing incidence of orthopedic disorders
- The online stores segment is expected to exhibit lucrative growth over the forecast period due to easy availability of products through online as well as shipping services
- North America held the dominant share as of 2018, due to increasing incidence of diabetes and presence of large number of industry players
- Asia Pacific is anticipated to witness lucrative growth due to high target population and untapped opportunities
- Some of the key companies are Dr. Scholl’s (Bayer); Hanger Prosthetics & Orthotics Inc.; Acor Orthopedic, Inc.; DJO Global Inc.; and Superfeet Worldwide Inc.
Grand View Research has segmented the global foot orthotic insoles market on the basis of product, application, distribution channel, and region:
Foot Orthotic Insoles Product Outlook (Revenue, USD Million, 2014–2026)
- Thermoplastics
- Polyethylene foams
- Leather
- Cork
- Composite carbon fibers
- Ethyl-vinyl acetates (EVAs)
- Gel
- Others
Foot Orthotic Insoles Application Outlook (Revenue, USD Million, 2014–2026)
- Sports & athletics
- Medical
- Personal comfort
Foot Orthotic Insoles Distribution Channel Outlook (Revenue, USD Million, 2014–2026)
- Drug Stores
- Hospitals & specialty clinics
- Online stores
- Others (retail shops, foot store)
