Foot Orthotic Insoles Market Size ,Share & Trends Report

Foot Orthotic Insoles Market Size ,Share & Trends Analysis Report By Product (Polyethylene Foams, EVAs), By Application (Medical, Sports & Athletics), By Distribution Channel (Hospitals & Specialty Clinics), And Segment Forecasts, 2019 - 2026

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-321-8
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 100

Industry Insights

The global foot orthotic insoles market size was estimated at USD 3.4 billion in 2018 and is expected to witness a CAGR of 6.3% during the forecast period. Rising geriatric population, coupled with high incidence of diabetes and plantar fasciitis, is fueling the market.

According to world population statistics, the population aged over 60 is slated to increase from 962 million in 2017 to 2.1 billion in 2050, which will increase the consumer base in future. Moreover, technological advancements due to high ongoing investments in R&D are expected to increase growth potential in the coming years.

Increasing demand for custom-made foot orthotics is fueling market growth. These products are custom made after a complete evaluation of the foot structure of the user. Tailor-made orthotics have clinically proven advantages over prefabricated ones in terms of better pain management and comfort. There is an increasing demand for 3D printed orthotics among end users. These are thinner as compared to traditional ones, with increased gait efficiency and proprioception, which is boosting market growth.

U.S. foot orthotic insoles Market

Increasing adoption of eco-friendly materials in manufacturing orthotic insoles is opening new avenues for growth. Favorable reimbursement policies in developed countries, growing investments by key industry players, and increased spending on research and development are expected to boost revenue in the coming years.

Product Insights

On the basis of product, the market is segmented into leather, cork, composite carbon fibers, thermoplastics, ethyl vinyl acetates (EVA), polyethylene foams, gel, and others. The polyethylene foams segment dominated the market with a share of over 41.0%, due to the presence of broad category materials, widespread usage, easy manufacturing, and increasing popularity.  Polyethylene foams are closed cell foams; they comprise millions of tiny bubbles, transfused with each other. This provides resistance to water, along with strength and rigidity. The combination of high strength and light weight makes it ideal for producing rigid foot orthotics, thus propelling the growth of this segment.

The thermoplastic segment is expected to witness lucrative growth owing to associated benefits such as comfort and high durability provided by this material. Thermoplastic is a heat molded form and is increasingly gaining popularity among people who take good care of their feet and those who need therapeutic support while walking. Rigid thermoplastics have limited use for geriatric patients with a high physiological reserve and for patients with rigid feet. However, semi-rigid thermoplastic provides better pain tolerance to the geriatric population and is used for individuals suffering from biomechanical foot pain.

Application Insights

The foot orthotic insoles market is segmented on the basis of application into medical, personal comfort, and sports and athletics. The medical segment accounted for the largest share due to rising incidence of diseases such as arthritis, foot pain, and diabetes. This trend is likely to continue over the course of the forecast period.

The sports and athletics segment is projected to experience lucrative growth during the forecast period. An increasing number of people are choosing sports as a career owing to growing opportunities in this industry. For instance, according to the National Health Statistics report, about 213 million Americans aged 6 years and over participated in sports and fitness activities in 2016. Growing participation in sports and recreational activities increases the risk of injuries. For instance, according to Stanford Children’s Health more than 3.5 million injuries are reported among children every year. In addition, according to the Canadian Institute of Health, about 17,655 people were hospitalized due to sports-related injuries between 2016 and 2017.

Rise in geriatric population, which is susceptible to orthopedic disorders, is another factor impelling product demand globally. For instance, as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015.

Distribution Channel Insights

On the basis of distribution channel, the market is segmented into drug stores, hospitals and specialty clinics, online stores, and others. The hospitals and specialty clinics segment held the largest revenue share in the global market and is likely to account for half the revenue share by the end of 2026. Patients prefer hospitals and clinics due to the presence of skilled and experienced personnel as well as proper infrastructure.

Global foot orthotic insoles Market

The online stores segment is expected to exhibit lucrative growth over the forecast period. The growth is attributed to its wide product offerings. Some of the key online players are Amazon, Flipkart, and Indiamart and they offer a wide range of custom as well as over the counter orthotics on their platform. Furthermore, rising popularity of e-commerce platforms has prompted a wide flow in online shopping of orthotic insoles. These portals provide the benefit of greater varieties and shipping services to customers.

Regional Insights

North America accounted for the largest revenue share in the global market in 2018 owing to rising prevalence of diabetes in this region. In addition, an increase in sports activities drives market demand. Technological advancements due to high ongoing investments in R&D are expected to increase growth potential in the coming years. The focus of the U.S. healthcare system on quality of care and value-based services has led to a favorable environment for foot orthotics.

Growing prevalence of conditions such as obesity, arthritis, and diabetes further support regional growth. For instance, in 2015, 30.3 million Americans were suffering from diabetes. Growth is also supported by a number of local players in the space, such as Spenco, Opedge, and Super Feet. The market is also driven by strategic partnerships and mergers and acquisitions by key players. For instance, in June 2016, Implus announced the acquisition of Spenco insoles, which was intended to broaden its portfolio.

Asia Pacific is expected to witness lucrative growth owing to factors such as high target population and technological advancements. In addition, improving health consciousness has benefitted this regional market. The demand for prefabricated and custom insoles is significantly high in this region, due to high incidence of chronic diseases such as musculoskeletal disorders and diabetes.

Foot Orthotic Insoles Market Share Insights

The industry is marked by the presence of various small and large companies. The market is competitive in nature and is dominated by participants such as Superfeet Worldwide Inc.; Hanger; Bauerfeind AG; Amfit Inc.; Algeo Ltd.; and Dr. Scholl’s.

Aforementioned players are constantly involved in strategic initiatives such as new product launch, technological advancements, and mergers and acquisitions in order to gain deeper penetration in the market. 3D printed orthotics is the next big trend in this space. Industry players are investing in R&D in order to innovate customized orthotic products. For instance, in June 2017, Stratasys Direct Manufacturing collaborated with Peacocks Medical Group to develop 3D printing orthotics. In February 2017, Aetrex acquired 3D printed orthotics pioneer SOLS Systems with an aim to improve its 3D product portfolio.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Million & CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, Korea, Brazil, Mexico, South Africa

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global foot orthotic insoles market report on the basis of product, application, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2026)

    • Thermoplastics

    • Polyethylene foams

    • Leather

    • Cork

    • Composite carbon fibers

    • Ethyl-vinyl acetates (EVAs)

    • Gel

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2026)

    • Sports & Athletics

    • Medical

    • Personal Comfort

  • Distribution Channel Outlook (Revenue, USD Million, 2014 - 2026)

    • Drug Stores

    • Hospitals & Specialty Clinics

    • Online Stores

    • Others (retail shops, foot store)

  • Regional Outlook (Revenue, USD Million, 2014 - 2026)

    • North America 

      • U.S.

      • Canada

    • Europe 

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific 

      • Japan

      • China

      • India

      • Korea

    • Latin America 

      • Brazil

      • Mexico

    • Middle East & Africa 

      • South Africa

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $5,950
Multi User (2-5) - $6,950
Enterprise Access - $8,950

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified