Custom Foot Orthotic Insoles (Foot Orthotic Insoles Market) Continue to Account for Greater Revenue Share, Fact.MR Study

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The global foot orthotic insoles market is forecasted to grow 1.5X during the forecast period (2020-2029), according to a market study by Fact.MR. Obesity and changing lifestyle are fueling the incidence of bone-related disorders including, osteoarthritis, rheumatoid arthritis, and juvenile arthritis. Attributed to this, foot orthotic insoles are gaining traction among adults with conditions such as arthritis, and diabetes.
Furthermore, technological advancements and increasing research and development activities, are expected to continue shaping the market growth. However, the COVID-19 outbreak is expected to alter the projected growth trajectory with its dual impact on the market. While the market will experience a surge in demand owing to consumers are stocking up essentials, the consequent supply chain disruptions will limit the trading activities.
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Segmental Highlights
Custom foot orthotic insoles segment holds the majority of market share owing to its benefits such as better pain management and comfort as compared to prefabricated products.
Hospitals & specialty clinics will account for a significant share in the end-use segment, owing to the rising incidence of diseases such as plantar fasciitis, arthritis, and diabetes, coupled with the presence of advanced healthcare infrastructure.
Adults are expected to account for nearly 70% of global sales and remain the dominant consumer base owing to the high incidence of diseases.
North America will remain the leading regional market for foot orthotic insoles accounting for nearly 2/5th of the global market. The dominance is primarily attributed to the healthy presence of market players, increased spending on healthcare and favorable reimbursement policies.
Asia Pacific is projected to exhibit remarkable growth during the forecasted period, primarily fueled by the high incidence of chronic diseases such as musculoskeletal disorders and diabetes among the population base. Furthermore, the region is benefitting from technological advancements in the healthcare sector.
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Analyst viewpoint:
“Manufacturers are focusing on innovative technologies such as 3D bio-printing, and computer-aided fixation to leverage the benefits of these technologies. Moreover, materials such as thermoplastics and carbon composite fibers are gaining traction as raw materials”, says a Fact.MR analyst.
Product: Prefabricated and Custom
User age group: Adult, and Pediatric
Applications: Sports & Athletics, Medical, and Personal Comfort
Distribution channel: Drug Stores, Hospitals & Specialty Clinics, Online Stores, and others
Regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the healthcare sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR’s latest healthcare market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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