Foot Orthotic Insoles Market to Reach Valuation of USD 4,734.3 Million By 2028 – Increasing Customization of Foot Orthotic Insoles is Expected to Lead the Market Growth

In terms of revenue, the Global Foot Orthotic Insoles Market is expected to reach USD 4,734.3 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.20% from 2022 to 2028.

Foot Orthotic Insoles are made to correct foot abnormalities and maintain the biomechanical alignment of the foot. Foot orthotic insoles are anticipated to increase throughout the projected period due to the number of elderly and obese people. Additionally, according to clinical research comparing the effectiveness of prefabricated insoles, tailored foot orthotics are more successful than prefabricated ones since they effectively relieve painful foot conditions while providing excellent foot comfort. Modern orthotic insoles are becoming increasingly popular since they help people with pain management and daily comfort. The insoles provide the foot with additional cushioning and support for the patient's arches and are quite versatile.

Key Highlights from Report:

· The Medical segment is estimated to show lucrative growth in the market in 2021. The medical sector has also been divided into diabetes, plantar fasciitis, arthritis, back and foot pain, and others. The medical sector dominated the market for foot orthotic insoles globally and is anticipated to maintain this position of strength over the forecast period. The main reasons anticipated to propel the segment's expansion are the availability of reimbursement and a sizable target patient group who are likely to need foot orthotic insoles for the rest of their lives.

· The Polyethylene Foams (PF) segment is expected to register the highest growth in the Foot Orthotic Insoles Market in 2021. The market share that belongs to Polyethylene Foams is the largest. The considerations include the availability of materials across a wide spectrum, extensive use, simple manufacturing, and rising popularity. Its combination of great strength and light weight makes it perfect for making rigid foot orthotics, which has helped this market segment become more popular.

· North America is expected to hold a significant share in the market during the forecast period. Due to increased expenditures from public and private actors and the support of key market leaders for improved virtual trial solutions, North America has become the world's largest market for foot orthotic insoles. Due to an increase in Research and Development (R&D) activities in the region, it accounted for a significant portion of the foot orthotic insoles market globally in terms of revenue.

Market Dynamics:

The key factor driving the increase in market revenue for Foot Orthotic Insoles is the growing elderly population in the world, which is also associated with a high incidence of diabetes and plantar fasciitis. Clinical studies have shown that custom orthotics are more comfortable and effective at managing pain than prefabricated ones. End consumers are showing a growing interest in 3D printed orthotics. These are more proprioceptive and have higher gait efficiency than conventional ones, driving the market's expansion. Orthotic insole production uses more environmentally friendly materials, creating new growth opportunities. In the upcoming years, revenue is anticipated to expand because of favorable reimbursement policies in developed nations, growing expenditures by major industry participants, and higher spending on research and development.

North America is expected to register lucrative growth in the market over the forecast period. Because of things like a large target population and developments in technology. Additionally, this local market has benefited from rising health consciousness. Due to the high prevalence of chronic conditions like musculoskeletal problems and diabetes, the need for prefabricated and bespoke insoles is notably strong in this region. An increase also influences demand in the market for sporting activities.

The Global Foot Orthotic Insoles Market is Segmented as follows:

• Product
  • Prefabricated
  • Custom
• Age Group
  • Adult
  • Pediatric
• Application
  • Sports & Athletics
  • Medical
  • Personal Comfort
• Material
  • Thermoplastics
  • Polyethylene Foams
  • Leather
  • Cork
  • Composite Carbon Fibers
  • EVA Gel
  • Other Materials
• End User
  • Prefabricated
  • Custom
• Distribution Channel
  • Drug Stores
  • Hospitals & Specialty Clinics
  • Online Stores
  • Other Channels
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Foot Orthotic Insoles Market is:

Aetrex Worldwide Inc., Bauerfeind AG, Acor Orthopedic, Amfit Inc., Blatchford Clinical Services, Dr. Scholl’s (Bayer), Salts Techstep, The Foot Lab, Arden Orthotics Ltd., Bolton Bros, Cascade Dafo Inc., Algeo Limited, Tynor Orthotics Pvt. Ltd.

The Global Foot Orthotic Insoles Market Scope can be Tabulated as below: