Foot Orthotic Insoles Market To Demonstrate Massive Growth With A CAGR Of 6.3% By 2026 | Grand View Research, Inc.

March 05 12:57 2021
Foot Orthotic Insoles Market To Demonstrate Massive Growth With A CAGR Of 6.3% By 2026 | Grand View Research, Inc.

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According to the report published by Grand View Research, Inc., factors such as growing geriatric population, rising prevalence of diabetes and plantar fasciitis, along with increasing awareness about the benefits of these insoles and manufacturing shift towards eco-friendly products are expected to fuel the market growth in the forecasted period.

According to a report, “Foot Orthotic Insoles Market Size, Share & Trends Analysis Report By Product (Polyethylene Foams, EVAs), By Application (Medical, Sports & Athletics), By Distribution Channel (Hospitals & Specialty Clinics), And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc. 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.

Market has observed major funding initiatives to spur the ongoing R&D activities, which are expected to boost the growth potential of the market in the coming years. In addition to this, the rise in geriatric population is pushing the demands in the market up, as they are more susceptible to orthopedic disorders. For instance, in 2019 as per the U.S. Census Bureau, the number of people aged 65 or older increased by over a third (34.2% or 13,787,044) during the past decade (2009-2019), and by 3.2% (1,688,924) from 2018 to 2019. Also, 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. 

Further key findings from the report suggest:

New product launches go a long way in helping the market gain demands. For instance, in September 2020, Fleet Feet launched personalized footwear product service line, ME3D. This line has observed rising demands and is set to gain on it in the coming years.

On the basis of products, polyethylene accounted for the largest revenue share as of 2018, owing to its high melt property and easy adjustment abilities

On the basis of applications, the medical field held the largest share in the foot orthotic insoles market by application, fueled by increasing incidence of orthopedic disorders

On the basis of distribution channels, 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

On the basis of region, North America held the dominant share as of 2018, due to increasing incidence of diabetes and presence of large number of industry players

Some of the key companies are Dr. Scholl’s (Bayer); Hanger Prosthetics & Orthotics Inc.; Acor Orthopedic, Inc.; DJO Global Inc.; and Superfeet Worldwide Inc.

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Foot Orthotic Insoles Market Segmentation

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)

Foot Orthotic Insoles Regional Outlook (Revenue, USD Million, 2014 – 2026)

    • North America
        • U.S.
        • Canada
        • Germany
        • The U.K.
        • Spain
        • Italy
        • France
    • Asia Pacific
        • China
        • Korea
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • MEA
        • South Africa

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Browse More Related Report:

Diabetic Footwear Market: The global diabetic footwear market size was valued at USD 5.78 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2019 to 2025.

Athletic Footwear Market: The global athletic footwear market size was valued at USD 64.30 billion in 2017. It is expected to expand at a CAGR of slightly over 5.0% from 2018 to 2025.

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