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Thursday, 01 Oct 2020 03:00 pm

Foot Orthotic Insoles Market New Business Experts Ideas By Sidas, Amfit, Arden Orthotics, AcorOrthopaedic, Yellow Wood Partners

The foot orthotic insoles market was valued at US$ 3,560.00 million in 2019 and is projected to reach US$ 5,464.57 million by 2027; it is expected to grow at a CAGR of 5.7%from 2020 to 2027.

By SMN Bureau
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Foot orthoses, which are commonly referred to as orthotics, are devices made to insert into the shoes, which provides off-loading foot structures and cushioning. Foot orthoses are used in attachment to the standard medical care of patients with foot and lower limb problems, including plantar heel pain, rheumatoid arthritis, pronated foot, diabetic risk plantar.The adoption of foot orthotic insoles services has grown at unprecedent rate in last few years owing to the increasing incidence of diabetes, arthritis, and other foot conditions. Additionally, aging population, and growing demand from sports sectorare further emphasizing on the adoption of foot orthotic insolesworldwide. Moreover, introduction of 3D printed orthotics insoles is expected to foster the market growth during the forecast period. However, less adoption of foot orthotics insoles due to lack of awareness in emerging economies is restricting the Foot Orthotic Insoles market growth.

As North America has been witnessing growing number of COVID-19 cases since the viral outbreak. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak wordwide. The expected decline in the global sales of foot orthotic insoles is attributable to massive supply chain disruptions across significant export markets, including China and India.

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Company Profiles

  • Aetrex Worldwide, Inc
  • Bauerfeind AG
  • OttoBock
  • Superfeet Worldwide Inc.
  • Sidas
  • Algeos
  • Amfit Inc
  • Arden Orthotics
  • AcorOrthopaedic, Inc.
  • Yellow Wood Partners

Based on drug type, the foot orthotic insolesmarket is segmented into customized and prefabricated. The customized segment held a larger share of the market in 2019. Also, the samesegment is anticipated to register a higher CAGR during the forecast period. The growth of the market for customized insolesis attributed to rising demand from medical, and sports sector.

Orthotic insoles are used to maintain the health of feet of patients with conditions, such as rheumatoid arthritis and diabetes.  Orthotic devices are also extensively used in sports activities to improve skeletal function, thus enhancing the performance of the athlete. With the progression of age, cartilages become prone to strain and fatigue due to less water content and connective tissues such as ligaments attached to the bones become less flexible. This causes many complications such as arthritis. Lifestyle changes coupled with changing dietary habits lead to obesity, which puts pressure on the joints in lower extremity resulting in joint damage. As per the American Association of Orthopedic Surgeons, the obese population is 20 times more likely to undergo knee replacement surgery compared to those who are not overweight.

Rising diabetes-associated risks such as diabetic foot ulcers and pressure sores are boosting the demand for foot orthotic insoles. Diabetic foot ulcers (DFUs) are severe and chronic. As per the International Diabetes Federation (IDF), DFUs affect approximately 40–60 million people with diabetes worldwide. Given the seriousness of foot ulceration, there is an increasing focus on preventing the ulceration. Elevated plantar pressures are recognized as one of the risk factors for first ulceration and international guidelines suggest the use of orthotic insoles to reduce pressures. Increasing prevalence of diabetes is expected to boost the adoption of foot orthotic insoles in the coming years. As per the IDF, in 2019, approximately 463 million adults worldwide had diabetes, and this number is expected to reach 700 million by 2045. Apart from this, rise in cases of rheumatoid arthritis (RA) is likely to increase the demand for foot orthotic insoles during the forecast period.

An outline of the regional analysis:

  • Geographically, the report segments the Foot Orthotic Insoles market into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
  • Contribution of each region to the overall market share, along with their growth rate forecast are mentioned in the report.
  • Total sales and revenue generated by each regional market are illustrated.
  • Comprehensive assessment of all opportunities and risks in the Foot Orthotic Insoles market.

Additional highlights of the Foot Orthotic Insoles market report:

  • The product offerings, company profiles, production patterns, and market remunerations are discussed at length.
  • Pricing model followed by every company, plus their gross margins and market share are given.
  • Volume predictions for each product category as well as their revenue share are graphed in the report.
  • Other essentials such as market share and growth rate of each product category over the forecast timeframe are included.
  • Market share held by each application segment and their projected growth rate during the study period are evaluated.
  • The report examines the competition trends, and also offers a complete analysis of the industry supply chain.

Note: Access insightful study with over 150+ pages, list of tables & figures, profiling 10+ companies.

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Tags Foot Orthotic Insoles Market Foot Orthotic Insoles

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