foot orthotic insoles Market

The foot orthotic insolesmarket was valued at US$ 3,560.00 million in 2019 and is projected to reach US$ 5,464.57 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027.

Increasing incidence of diabetes, arthritis, and other foot conditions and growing demand from sports sector are among the major factors fueling the growth of this market. Moreover, introduction of 3D printed orthotics insolesis expected to foster the market growth during the forecast period. However, less adoption of foot orthotic insoles due to lack of awareness in emerging economieshinders the growth of the foot orthotic insoles market. Additionally, the Europeancountries are facing challenges due to the rising prevalence of COVID-19. The supply chain disruption, along with the enormous demand for effective therapies for the treatment of COVID-19 has put healthcare research industry in critical situation in the region. the manufacturers operating in the orthotic insoles market are focusing on the manufacturing of life-saving medical equipment. For instance, As the COVID-19 pandemic continues to spread across the region, Superfeet has opened its doors to help those requiring an immediate access to 3D printers and/or production facilities to shore up short-term medical supply demand.

The global foot orthotic insolesmarket is segmented byproducttype, material, application, and distribution channel.Based on producttype,the marketis segmented intocustomized and prefabricated. The customized segment held a larger share of the market in 2019; also, the samesegment is anticipated to register a higher CAGR during the forecast period. Based on material, the foot orthotic insolesmarket is segmented into thermoplastics, polyethylene foams, leather, cork, composite carbon fibers, ethyl-vinyl acetates (EVAs), gel and others. The polyethylene foams segment held the largest share of the market in 2019; however, the thermoplastics segmentis anticipated to register the highest CAGR during the forecast period.Based on application, the foot orthotic insolesmarket is segmented into sports and athletics, medical, and personal comfort. The medical segment held a larger share of the market in 2019; however, the sports and athletics segmentisestimated register a higher CAGR during the forecast period.Based on distribution channel, the foot orthotic insoles market is segmented into drug stores, hospitals and specialty clinics, online stores, and others. The hospitals and specialty clinics segment held a larger share of the market in 2019; however, the online stores segment is estimated register a higher CAGR during 2020–2027.

The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC),and International Diabetes Federation are a few of the primary and secondary sourcesassociated with this report.