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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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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