Foot Orthotic Insoles Global Market Report 2023

“Foot Orthotic Insoles Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on foot orthotic insoles market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for foot orthotic insoles? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The foot orthotic insoles market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Prefabricated; Customized

• 2) By Material: Thermoplastics; Polyethylene Foams; Leather; Cork; Composite Carbon Fibers; Ethylene-vinyl Acetate; Gel; Other Materials

• 3) By Application: Medical; Sports And Athletics; Personal

• 4) By Distribution Channel: Drug Stores; Hospitals And Specialty Clinics; Online Stores; Other Distribution Channels

• Companies Mentioned: Hanger Inc.; Implus LLC; Footbalance Systems Ltd.; Thuasne SAS; Foot Science International

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the foot orthotic insoles market are Hanger Inc., Implus LLC, Footbalance Systems Ltd., Thuasne SAS, Foot Science International, Aetrex Inc., Tynorindia, Digital Orthotics Laboratories Australia Pty Ltd, Reckitt Benckiser Group Plc., Bauerfeind AG, Currex LLC, Superfeet Worldwide LLC, Sidas, ComfortFit Orthotic Labs Inc., and PowerStep.

The global foot orthotic insoles market is expected to grow from $3.29 billion in 2022 to $3.55 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The foot orthotic insole market is expected to reach $4.72 billion in 2027 at a CAGR of 7.4%.

The foot orthotic insoles market consists of sales of functional orthotics, accommodative orthotics and semi-rigid orthotics. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The foot orthotic insoles refer to prescription medical devices worn inside the shoe to treat and cure discomfort in the feet. It is used to treat foot problems like difficulties walking, standing, or running.

North America was the largest region in the foot orthotic insoles market in 2022. The regions covered in foot orthotic insoles report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of foot orthotic insoles are prefabricated and customized. Prefabricated orthotics refer to tools that can deal with the most prevalent foot issues. The materials involved are thermoplastics, polyethylene foams, leather, cork, composite carbon fibers, ethylene-vinyl acetate, gel and others which are used for medical, sports and athletics and personal applications. It is sold by drug stores, hospitals and specialty clinics, online stores and others.

The rising prevalence of diabetes is expected to propel the growth of the foot orthotic insoles market going forward. Diabetes is a long-term metabolic condition marked by high blood glucose (also known as blood sugar), which over time can seriously harm the heart, blood vessels, eyes, kidneys, and nerves. Foot orthotic insoles are required to treat diabetic feet that have already experienced charcot arthropathy and foot ulcers. Hence, the rise in the prevalence of diabetes will lead to an increase in demand for foot orthotic insoles. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation (IDF), a Germany-based organization of over 230 national diabetes associations, in 2021, around 537 million adults (20-79 years old) had diabetes globally and is anticipated that this figure would increase to 643 million by 2030 and to 783 million by 2045. Therefore, the rise in the prevalence of diabetes is driving the growth of the foot orthotic insoles market.

Product innovation is the key trend gaining popularity in the foot orthotic insoles market. Major companies operating in the foot orthotic insoles market are focusing on developing innovative products to sustain their market position. For instance, in May 2022, New Balance, a US-based sports footwear and apparel manufacturer, launched casual therapeutic cushion insoles, a new insole shaped by Superfeet. The unique feature of casual therapeutic cushion insoles is the design, which uses extra-soft foam that conforms to the foot and offers relief to people with sensitive feet. The foot is supported while moving due to the flexible construction and heel-to-toe cushioning that cradles the foot to relieve discomfort. The insoles are created using hypoallergenic materials to accommodate sensitive skin.

In February 2020, Remington Products Company, a US-based manufacturer of aftermarket insoles, acquired the Foot Petals brand from RG Barry Corp for an undisclosed amount. Through the acquisition, Remington Products Company aims to advance Foot Petals by utilizing its manufacturing expertise, network, and resources and improve Foot Petals' operations and enable them to combine their complementary skills and available resources. RG Barry Corp. is a US-based manufacturer and marketer of comfort footwear including orthotic Insole.

The countries covered in the foot orthotic insoles market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The foot orthotic insoles market research report is one of a series of new reports from The Business Research Company that provides foot orthotic insoles market statistics, including foot orthotic insoles industry global market size, regional shares, competitors with foot orthotic insoles market share, detailed foot orthotic insoles market segments, market trends, and opportunities, and any further data you may need to thrive in the foot orthotic insoles industry. This foot orthotic insoles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.