Dublin, March 08, 2021 (GLOBE NEWSWIRE) -- The "Foot Orthotic Insoles Market" report has been added to ResearchAndMarkets.com's offering.
The Foot Orthotic Insoles Market size is estimated to reach $3,877 m in 2025, growing at a CAGR of 2.9% during the forecast period 2020-2025.
Growing demand for Foot Orthotic Insoles is mainly driven by rising chronic foot diseases, enhanced awareness among people to treat these disorders, increased healthcare spending, and growth in sports activities. Foot orthotic insoles caters to people who are subject to diseases such as diabetes, plantar fasciitis, rheumatoid arthritis, foot deformities and other chronic diseases as well as injuries. It also serves the need of sports community such as athletes, football players and basketball players.
Key Takeaways
- North America dominated the Foot Orthotic Insoles Market with a share of 40.47% in the year 2019.
- The factors such as rising chronic foot diseases, enhanced awareness among people to treat these disorders and growth in sports activities are amongst the major factor projected to impel growth of Foot Orthotic Insoles Market.
- Increase in innovations of production and modeling technologies coupled with the high investment in R&D from top companies are the key factors owing to the growth in the segment during forecast period 2020-2025.
Rapid Urbanization And Associated Lifestyle Diseases
Rapid urbanization, particularly in developing countries, is leading to changes in lifestyle, which is attributing to various health disorders. The main contributing factor for such diseases is sedentary lifestyles. There is also a surge in disorders associated with lifestyle such as drug and smoking addiction, obesity, foot disorders owing to wearing of ill-fitting or high heel shoes. The growth of these disorders is particularly alarming in developed countries and some developing countries of Asia Pacific region and North Africa. According to the WHO, out of all the orthopedic ailments reports, over 35% are related to lower back and lower limbs, with the majority of patients falling in the category of 22-40 years of age. This trend is observed owing to the changing lifestyles of people, growing sedentary working practices, which involves sitting at the work desk all day. Although some disorders can permanently damage the tissues and bones in the leg, some can be prevented or managed through use of temporary orthotic supports such as bunion supports and gait correction devices. The growing incidence of lifestyle associated orthopedic disorders is set to increase the use of foot orthotic devices for treatment as well as prevention of pain.
Consolidation Approach Of Market Leaders:
The major challenge for the market is that the foot orthotic industry is undergoing rapid consolidation by leading players to form a monopoly. The changing economy and COVID-19 restrictions are also forcing small and medium-sized enterprises to cave in and undergo strategic acquisitions. Although, the consolidations are good in a business viewpoint, the users face lot of challenges owing to lack of options to choose from. These also significantly affect the ability of relatively smaller or newer companies to develop, license or market their products effectively.
Key Topics Covered:
1. Foot Orthotic Insoles Market Overview
2. Foot Orthotic Insoles Market - Executive Summary
2.1 Market Revenue and Key Trends
2.2 Key trends by End Use Industry
2.3 Key trends by Manufacturing Method
2.4 Key trends by Geography
3. Foot Orthotic Insoles Market Landscape
3.1 Market Share Analysis
3.2 Comparative Analysis
4. Foot Orthotic Insoles Market Forces
4.1 Market Drivers
4.2 Market Constraints/Challenges
4.3 Porters five force model
5. Foot Orthotic Insoles Market - Strategic Analysis
5.1 Value Chain Analysis
5.2 Opportunities Analysis
5.3 Market Life Cycle
6. Foot Orthotic Insoles Market - By Type of Material (Market Size -$Million/$Billion)
6.1 Ethylene Vinyl Acetate (EVA) Based foam
6.2 Cork
6.3 Leather
6.4 Polypropylene Thermoplastic
6.5 Nylon 12
6.6 Plastazoate
6.7 Others
7. Foot Orthotic Insoles Market - By Manufacturing Method (Market Size -$Million/$Billion)
7.1 Custom
7.2 Custom-Moulded
7.3 3D-Printed
7.4 Pre-Fabricated
8. Foot Orthotic Insoles Market - By End Use (Market Size -$Million/$Billion)
8.1 Sports
8.2 Medical
8.3 Comfort
9. Foot Orthotic Insoles Market - By Geography (Market Size -$Million/$Billion)
9.1 North America
9.2 Europe
9.3 Asia-Pacific
10. Foot Orthotic Insoles Market - Entropy
11. Foot Orthotic Insoles Market Company Analysis
For more information about this report visit https://www.researchandmarkets.com/r/bq602g
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