Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) — The “Foot Orthotic Insoles Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
This analysis of the global foot orthotic insoles market foresees a robust growth trajectory from 2023 to 2028. The market, evaluated at US$3.439 billion in 2021, is projected to reach US$5.183 billion, expanding at a CAGR of 6.04%. This growth illustrates the mounting awareness and the rising instances of foot-related ailments, alongside significant progress in foot care technologies.
Escalating Incidence of Foot Disorders Drives Market Growth
The soaring prevalence of foot complications such as plantar fasciitis, bunions, and diabetic foot ulcers has been identified as a principal driver of the foot orthotic insoles market. An increasing global demographic of individuals experiencing foot pain and mobility issues due to these disorders is anticipated to propel the demand for orthotic insoles.
Chronic Conditions and Aging Population Amplify Insoles’ Necessity
Furthermore, the market’s expansion is leveraged by the rising prevalence of chronic diseases such as diabetes, which often leads to complications requiring orthotic intervention. The aging population also represents a key consumer base due to the higher propensity for foot ailments among this group.
Technological Advancements Catalyze Market Innovation
Technological innovations, particularly the integration of 3D printing in bespoke orthotic solutions, are set to redefine the market. Companies are now capable of offering personalized insoles, optimized for individual foot profiles, at a reduced cost and increased efficiency.
Key Developments and Opportunities in the Market
Recent innovations by market leaders have introduced products such as custom orthotics featuring Far Infrared Rays technology, aimed at alleviating pain and enhancing foot care. These advancements, along with rising health-consciousness and preventive foot care measures, present lucrative opportunities for market growth.
Retail Channels, Medical and Athletic Applications, Fuel Market Expansion
The report segments the global foot orthotic insoles market based on materials, applications, distribution channels, and geography. There is a significant uptake in the use of orthotic insoles across optometric, athletics, and personal comfort to reduce the risk of foot injuries and maintain proper foot care.
- By Material:
- Ethyl-vinyl Acetate (EVA)
- Composite Carbon Fiber
- By Application:
- Sports and Athletics
- Personal Comfort
- By Distribution Channel:
- Hospital Pharmacies
- Retail Stores
- Online Stores
- By Geography:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
North America Dominates with Advanced Applications
The North American region is highlighted as a dominant market share contributor, driven by innovative production techniques and a heightened focus on foot health. The region’s concentration of leading producers and technology adopters, such as Acor Orthopaedic and Superfeet Worldwide LLC, command the landscape, ensuring continued growth and product availability. The in-depth analysis of current and forecasted market trends offers valuable insights for businesses and consumers alike, illuminating the path forward in foot orthotic insoles. For complete information and a thorough market evaluation, the full report is available, emerging as an essential resource to capitalize on the market trends.
|No. of Pages
|Estimated Market Value (USD) in 2021
|Forecasted Market Value (USD) by 2028
|Compound Annual Growth Rate
- Acor Orthopaedic, Inc.
- Aetrex Inc.
- Superfeet Worldwide, LLC
- A. Algeo Ltd.
- Foot Science International
- Footbalance System Ltd.
- Dola Orthotics
For more information about this report visit https://www.researchandmarkets.com/r/mpxkw9
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