Orthotic Foot Insoles Market by Application, Distribution Channel, and Geography - Forecast and Analysis 2020-2024

The orthotic foot insoles market size has the potential to grow by USD 1.12 bn during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (medical and sports), distribution channel (retail outlets and online retail), and geography (North America, APAC, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bauerfeind AG, Bayer AG, Footlogics Australia Pty Ltd., Guangzhou Shunyang SM Co. Ltd., Hanger Inc., Implus LLC, Ottobock SE & Co. KGaA, SOLO Laboratories Inc., Stable Step LLC, and Superfeet Worldwide Inc.

Market Overview

Market Competitive Analysis

The market is fragmented, and the degree of fragmentation will decrease over the forecast period. Implus LLC, Ottobock SE & Co. KGaA, SOLO Laboratories Inc., Stable Step LLC, and Superfeet Worldwide Inc. are some of the major market participants. Although the increased demand for foot insoles from the sports segment will offer immense growth opportunities, the lack of awareness about foot health will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this orthotic foot insoles market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this orthotic foot insoles market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Bauerfeind AG
• Bayer AG
• Footlogics Australia Pty Ltd.
• Guangzhou Shunyang SM Co. Ltd.
• Hanger Inc.
• Implus LLC
• Ottobock SE & Co. KGaA
• SOLO Laboratories Inc.
• Stable Step LLC
• Superfeet Worldwide, Inc.

Orthotic Foot Insoles Market: Segmentation by Region

North America was the largest orthotic foot insoles market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing need to prevent foot ailment and the high demand for foot insoles among diabetic patients will significantly influence orthotic foot insoles market growth in this region.

The US, Canada, and Mexico are the key markets for orthotic foot insoles in North America. Market growth in this region will be slower than the growth of the market in Europe, APAC, and South America.

Orthotic Foot Insoles Market: Segmentation by Application

Rapid growth in the geriatric population and increasing prevalence of diabetes is driving the adoption of medical orthotic insoles in medical applications. Medical orthotic insoles equally distribute the bodyweight on the feet and help to prevent friction and overpressure on the feet. Owing to such benefits, medical orthotic insoles find wide adoption among the geriatric age group, diabetic patients, and obese people.

Market growth in this segment will be faster than the growth of the market in the sports segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the orthotic foot insoles market size.

Orthotic Foot Insoles Market: Key Drivers and Trends

Prevalence of diabetic cases is driving the demand for orthotic insoles among patients. Diabetic patients with poor blood glucose control and undiagnosed diabetes have a significant chance of developing complications such as diabetic foot, which are caused by poor blood circulation and diabetic neuropathy that damages nerves present in lower limbs creating numbness or ability to feel pain. Such complications can often result in foot ulceration. Orthotic insoles help to prevent the pressure on foot points and avoid pressure sores developed due to friction inside the shoe. Increasing awareness towards such benefits offered by orthotic insoles among diabetic patients, along with the rising incidence of diabetes, will drive global orthotic foot insoles market growth.

• Growing R&D activities and the use of advanced technologies has resulted in the increasing adoption of 3D printing in formulating orthotic insoles.
• 3D printing is enabling the precision manufacture of orthotics and offers several benefits, including the provision for softer areas and customized variable density.
• Computer-controlled designing through 3D printers have benefited rapid development and faster delivery over conventional orthotic insole manufacturing methods.
• The growing adoption of 3D printing among vendors for manufacturing orthotic insoles is expected to surge the availability of products offering similar benefits and technologies.
• The orthotic foot insoles market will register a CAGR of over 6% during 2020-2024.

Orthotic Foot Insoles Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive orthotic foot insoles market growth during the next five years
• Precise estimation of the orthotic foot insoles market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the orthotic foot insoles market industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of orthotic foot insoles market vendors