Foot Orthotic Insoles Market Analysis and Growth Drivers by 2023
Posted by Venkatesh on November 26th, 2018
In the Report “Foot Orthotic Insoles Market: By End-User (Sports, Medical, Comfort); By Material (EVA Foam, Leather, Nylon, Others); By Government Regulations; By Geography - (2018-2023)” published by IndustryARC, the market is driven by rising chronic foot diseases, enhanced awareness among people to treat these disorders, increased governmental spending in healthcare, blooming disposable income and growing sport activities.
Asia-Pacific expected to dominate with major share in the Foot Orthotic Insoles Market
The Foot Orthotic Insoles Market is set to grow at a rapid pace, particularly in the Asia-Pacific region. The market is foreseen to grow fast due to in the rising prevalence of chronic diseases, disposable income as well as increasing awareness about foot orthotic insoles. Asia-Pacific is the upcoming region in the next largest orthotic inserts market, with the focus mainly on China, India, and Japan. The region will exhibit the highest growth of 9.21 million by 2023 at a CAGR of 8.01% from 1 million in 2017.
Selected Manufacturing Method Analysis done in the full Report:
Currently, the market for insoles, custom and prefabricated, has grown radically. The foot insole market will witness a growth of CAGR 10.50% during the forecast period. Pre-fabricated is the leading segment in the market holding maximum value in 2017. The finding says the pre-fabricated market will still lead the market at a CAGR of 3.64% for the forecast of 2017-2023. The custom-made insoles market gained the second largest value of 27.2 million in 2017, and it is expected to reach a value of 17.71 million by 2023. The global 3D printed custom made foot orthotic insoles market is estimated to reach 3.08 million by 2023 from .2 million in 2017, escalating at CAGR 24.10% from 2018 to 2023. These devices are slowly gaining popularity, especially for foot orthotics as these devices are molded to fit the patient specifically, and are more efficient.
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Excerpts on Market Growth Factors
• The decrease in prices of custom foot insoles in the future will push orthopedic shoes, and successively, the insole market. The market is currently in the growth stage and is witnessing new product launches for the treatment of multiple foot diseases which acts as the driving force.
Key players of the Foot Orthotic Insoles Market
In the global Foot Orthotic Insoles market, Hanger Inc, Ottobock Holding, and Bauerfeind AG are the key players. Growing number of startups are developing innovative and technologically advanced foot orthotic insole. This will spur collaborations among key players to drive innovations and provide less expensive and quality insoles to the users. Here are some of the products that helped the market: SureFit, TechnoGel, Polysorb, Spenco RX, GEL, Total Support, Dr. Scholl’s by Bayer AG and Impax by DJO, Inc.
Foot Orthotic Insoles Market report is segmented as below
A. Foot Orthotic Insoles Market Classification, By End User
B. Foot Orthotic Insoles Market Classification, By Type of Material
1. EVA Foam
C. Orthotic Devices – Government Regulations
1. North America
A. Animal Feed Testing Market by Geography (covers 10+ countries)
Companies Cited / Interviewed
1. Superfeet Worldwide, Inc
What can you expect from the report?
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
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IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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About the AuthorVenkatesh
Joined: August 23rd, 2018
Articles Posted: 184
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