Foot Orthotic Insoles Market - Global Industry Size, Share, Growth, Forecasts 2015 - 2023
Latest
industry research report on: Global Foot Orthotic Insoles Market :
Industry Size, Share, Research, Reviews, Analysis, Strategies,
Demand, Growth, Segmentation, Parameters, Forecasts
Global Foot Orthotic Insoles
Market: Snapshot
The global foot orthotic
insoles market is envisaged to draw a sturdy demand in the next few
years as healthcare spending and technological advancement witness a
consistent rise. Developments in healthcare technology have been
surging in the recent era with the need to improve the firmness and
stability of feet in problematic cases arising due to arthritis,
obesity, and diabetes. The worsening prevalence of these diseases is
foretold to augment the demand in the market. Approximately a 7.0% of
20.8 million children and adults suffer from diabetes in the U.S.,
according to the American Academy of Orthotists and Prosthetists.
More than half of the non-traumatic amputation incidences could be
caused by diabetic complications.
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Besides
the demand for foot orthotic insoles on account of an enlarging
diabetes spread, the ballooning occurrence of obesity is projected to
be one of the leading stimulants of growth in the orthotic sector.
The need for orthopedic support solutions and devices could be on the
rise with the multiplying incidences of orthopedic ailments triggered
by growing obesity pervasiveness. This is particularly expected to
bode well for the global foot orthotic insoles market.
Industry
players are envisioned to enter into strategic partnerships and
broaden their product portfolio by responding to the consistent
demand for innovation and upgradation of products in the global foot
orthotic insoles market. Players could also increase their customer
base and launch various new products to showcase their dominance in
the market. The trend of custom foot insoles designed for application
in different end-user markets is anticipated to be key for a
dependable growth in the overall market.
Unexpected
falls are the primary cause of the injury among the elderly. Each
year more than 18,000 elder adults expire from injuries sustained
through such falls, and the global cost of their treatment is
anticipated to surpass $50 billion by 2020.
Several
of these falls may also be due to weakened sensory capabilities of
the foot that naturally come with age. The persons with diabetes
might experience such weakened sensory function that they develop
foot ulcers, which often result in amputation (i.e. removal of a limb
by surgery, trauma, or medical illness). Shoe inserts are useful for
variety of foot alignment, they provide comfort to the feet by giving
a cushion effect to the feet and can support the arches, but they are
unable to correct the biomechanical foot problems or cure
long-standing foot problems. There are different types of shoe
inserts, which are currently available such as arch supports insoles,
heel liners also known as heel cups or heel pads, and foot cushions.
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Foot Orthotic Insoles are
mechanical devices attached to the shoe or placed inside the shoes to
assist in maintaining or restoring the normal alignment, and natural
function of the foot. Although flat feet is the most common
biomechanical complaint there are many other complaints such as;
arch, achilles, shin, heel, knee, and lower back pain. These affect
are due to the poor foot function. Thus, foot orthotic insoles
wherever possible can realign the foot and anklebones to their
neutral position. It also helps to relief stress from injured and
strained soft tissues, deformed bones, joints, and inflamed or
chronic bursae.
The market is majorly
categorized into custom and prefabricated foot insoles. Custom foot
insoles prescribed by orthotist, podiatrist, orthopedist pedorthist,
chiropractor, or any other health professional with a background in
biomechanics, in order to steady, and correct biomechanical
misalignment of the feet and lower limbs. Foot orthotic insoles
market segmentation is into types, end users, and geography. Based on
the type of material, the market differentiated into leather, EVA
form, polypropylene thermoplastic, nylon, and others. End users
classification is as sports, medical, further classification is
(diabetes, obesity, rheumatoid arthritis, and others) and comfort.
Based on the geography, market segmentation is North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa. North
America dominates the foot orthotic insoles market.
The factors such as rise in the
ageing population, increase in the lifestyle associated disorders
such as diabetes and obesity, increasing awareness about the foot
orthotic insoles, and rise in the disposable income are the factors
responsible to drive the market of foot orthotic insoles. The high
price of the foot orthotic insoles is known to decline the growth of
the market.
Some of the major key players
of foot orthotic insoles market are Bayer Healthcare AG, Superfeet
Worldwide Inc., Hange Prosthetics & Orthotics Inc., Bauerfeind
AG, Ottobock Holding GmbH, Hanger Inc., Comfortfit Orthotic Labs
Inc., and Bauerfeind AG.
This research report analyzes
this market on the basis of its market segments, major geographies,
and current market trends. This report provides comprehensive
analysis of
Market growth drivers
Factors limiting market
growth
Current market trends
Market structure
Market projections for
upcoming years
This report is a complete study
of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It
includes analysis of recent developments in technology, Porter’s
five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with
detailed value chain analysis.
Reasons for Buying this
Report
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pin-point analysis for changing competitive dynamics
It provides a forward
looking perspective on different factors driving or restraining
market growth
It provides a six-year
forecast assessed on the basis of how the market is predicted to grow
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the key product segments and their future
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making in-depth analysis of market segments
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graphics and exemplified SWOT analysis of major market segments
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