Manufacturers are utilizing ethyl-vinyl acetate materials to
produce foot orthotic insoles to offer increased comfort and
effectiveness, says Fact.MR.
ROCKVILLE, Md., May 23, 2024
/PRNewswire/ -- According to this updated analysis by Fact.MR, the
rising prevalence of chronic foot ailments worldwide is set to
increase the size of the global Foot Orthotic Insole Market
from US$ 4.80 billion in 2024
to US$ 9.44 billion by
2034.
More people across the world are experiencing several orthopedic
issues such as diabetic foot ulcers, sports injuries, and injuries
due to accidents. This factor is contributing to the increasing
adoption of foot orthotic insoles. Manufacturers are bolstering
their market stance by producing customized insoles as per varied
consumer needs.
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The increasingly busy and stressful lifestyle of individuals
across the globe is one of the prime factors leading to the high
sales of ortho footwear materials. Considering this fact,
manufacturers are adopting several advanced technologies such as 3D
printing, clay moulding, and additive manufacturing to boost the
comfort and features of insoles. Medical experts prefer custom
insoles to patients for better outcomes. Various insole providers
also use 3D scanners to manufacture custom foot orthotic
insoles.
Western countries are major consumers of orthopedic insoles and
footwear due to the rising prevalence of sports injuries.
North America will hold a major
global market share in 2024. China
and Japan are offering lucrative
opportunities for foot orthotic insole producers due to the high
presence of the geriatric patient population.
Key Takeaways from the Market Study:
- The global foot orthotic insole market is foreseen to rise at a
CAGR of 7% during the next 10 years.
- Demand for foot orthotic insoles in the United States is projected to reach a
market value of US$ 3.31 billion by
2034.
- The South Korea market is set
to register a CAGR of 7.7% through 2034.
- Ethyl-vinyl acetate material is estimated to hold 21.2% of the
global market share in 2024.
- Sales of custom foot orthotic insoles are estimated at
US$ 3.31 billion in 2024.
"Rising cases of foot arch problems will drive the demand
for custom-made foot orthotic insoles," says a Fact.MR
analyst.
Key Market Players Profiled In this Report:
- Acor Orthopedic
- Amfit Inc.
- Dr. Scholl's (Bayer)
- Salts Techstep
- Bolton Bros
- Cascade Dafo Inc.
- Aetrex Worldwide Inc.
- Bauerfeind AG
- Blatchford Clinical Services
- The Foot Lab
- Algeo Limited
- Tynor Orthotics Pvt. Ltd.
- Arden Orthotics Ltd.
Competitive Analysis
Prominent manufacturers are investing heavily in research and
development initiatives to develop innovative manufacturing
technologies. The advent of advanced technologies is set to offer
improved foot orthotic insoles and product customization.
- March 2023, Researchers and
scientists at ETH Zurich Empa and EPFL are innovating
a 3D-printed insole equipped with integrated sensors that detect
the pressure of the sole in a shoe and during any activity, aiding
to determine performance and therapy progress.
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Solutions:
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Country-wise Analysis:
According to a National Council on Ageing article, over 95% of
the senior population in the United
States suffers from chronic diseases such as diabetes and
arthritis, with 80% having one or both.
The growing senior population in the
United States, as well as technological advancements in
healthcare systems, are driving up sales of orthopedic insoles. The
majority of older adults in the country use foot orthotics for
comfort and pain relief. Personalized foot orthotics that are
unique to each patient are becoming increasingly popular as a
result of cutting-edge production techniques such as additive
manufacturing. As a result, manufacturers of personalized foot
orthotic insoles make good money.
The Germany foot orthotic
insoles market is led by well-known shoe manufacturers including
Bar Schuhe, Adidas, and Birkenstock. The insoles made by Bar Schuhe
are available in a range of materials, including leather and other
fabrics. Birkenstock sells insoles with latex foam and microfibers
impregnated with silver ions that fight germs.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of
the global foot orthotic insole market, presenting
historical demand data (2018 to 2023) and forecast statistics for
the period (2024 to 2034).
The study divulges essential insights on the market based on the
product (prefabricated, custom), age group (adult, pediatric),
application (sports & athletics, medical, personal comfort),
material (thermoplastics, polyethylene foam, leather, cork,
composite carbon fibers, EVA, gel, others), and distribution
channel (drug stores, hospitals & specialty clinics, online
stores, others), across six major regions of the world
(North America, Latin America, Europe, East
Asia, South Asia &
Oceania, and MEA).
Explore More Related Studies Published by Fact.MR
Research:
Insoles Market is expected to
reach US$ 77.88
billion by the end of 2033, expanding rapidly at a
CAGR of 7.1% from 2023 to 2033.
Footwear Sole Material Market is estimated to
register a CAGR of 4.5% from 2024 to 2034.
Sports Footwear Market is estimated at
US$ 122.2 billion for 2023 and is
forecasted to jump to $208.7 billion
by 2033.
Athletic Footwear Market: Worth is poised to reach
US$ 135.6 billion by 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned
for its comprehensive market reports and invaluable business
insights. As a prominent player in business intelligence, we
deliver deep analysis, uncovering market trends, growth paths, and
competitive landscapes. Renowned for its commitment to accuracy and
reliability, we empower businesses with crucial data and strategic
recommendations, facilitating informed decision-making and
enhancing market positioning.
With its unwavering dedication to providing reliable market
intelligence, FACT.MR continues to assist companies in navigating
dynamic market challenges with confidence and achieving long-term
success. With a global presence and a team of experienced analysts,
FACT.MR ensures its clients receive actionable insights to
capitalize on emerging opportunities and stay competitive.
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SOURCE Fact.MR