Global Foot Orthotic Insoles Market to Cross USD 4.5 BN By 2025 with a CAGR Of 6.0% During 2019 To 2025
Posted On January 30, 2019
Value Market Research has recently released a new market study based on the Global Foot Orthotic Insoles Market which incorporates in-depth assessment of the competitive landscape, market trends, product market sizing, product benchmarking, new product developments, financial analysis and strategic analysis to scale the potential opportunities of the market. The Global Foot Orthotic Insole Market was valued USD 3.2 BN (by revenue) in 2018 and is anticipated to reach USD 4.5 BN by 2025 with a CAGR of 6.0% between 2019 and 2025.
The report identifies that the market of foot orthotic insoles is expanding at a rapid pace owing to the increase in the percentage of population suffering from foot pain and growth in geriatric population with orthotic condition worldwide. Also, the upsurge in the adoption of technologically advanced products and high prevalence of osteoarthritis, rheumatoid arthritis, juvenile arthritis, and other forms of ortho disorders is fueling the industry expansion. Further, numerous advantages offered by technologically advanced products, such as reduced difficulties and enhanced lifecycle of the product are also likely to augment the demand for these products among end-users. Additionally, growing demand for custom-made foot orthotic insoles is expected to provide potential business development opportunities in the global foot orthotic insoles market over the forecast period.
The report "Global Foot Orthotic Insole Market Report By Product (Leather, Polypropylene And Others), Application (Sports, Medical And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" studies important recent developments in the market such as new product launches, agreements, collaborations, acquisitions, and mergers to comprehend the prevailing market dynamics at present and its impact over the forecast period.
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Foot orthotics insoles are designed to provide support or correct the abnormal or irregular walking pattern. Primarily, they change the angle at which the foot strikes while walking and hence assist the limb or the torso to restore the alignment and positioning of the foot. Basically, foot orthotics are recommended by a podiatrist for foot problems such as plantar fasciitis, tendinitis, bursitis, diabetic foot ulcer, and pain across ankle and foot.
The market has been segmented in the report by product, application, and region. Product segment has been split into leather, polypropylene, and others. Polypropylene is dominating the segment since they have excellent features such as possess high strength, are lightweight, and low specific gravity is driving their demand across the end-users. Application segments cover sports, medical and others. The medical sector is leading the segment owing to the rising number of patients suffering from ortho disorder such as arthritis, foot injury, and abnormal walking pattern. Regionally, the market has been studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Currently, North America is dominating the global foot orthotics insoles market owing to the rising demand for the innovative product along with the rising funding on healthcare infrastructure is driving the regional market growth.
The Report Segments Global Foot Orthotic Insoles Market -
- North America
- Latin America
- Middle East and Africa
Aetrex Worldwide, Inc., Bauerfeind AG, Comfortfit Orthotic Labs Inc., Currex Gmbh, Dr. Scholl’s, Euroleathers, Hanger Orthopedic Group, Inc., Implus, OttoBock Holding GmbH & Co. KG., Sidas SAS, Spenco Medical Corporation and Superfeet Worldwide Inc.
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