The orthopedic insoles market is estimated to display a very impressive rate of growth of over 10% CAGR for the duration of the forecast period (2021 – 2031). The demand for orthopedic insoles has been increasingly driven by growing patient awareness and treatment options for planar fasciitis, obesity and osteoporosis, especially among women consumer demographics. Innovative product introductions are expected to play key roles in the long-term strategies of manufacturers within the industry.
“The global rise in obese and geriatric demographics is likely to boost the adoption of orthopedic insoles. Innovations in biomaterial-based offerings for low wear and high strength characteristics are witnessing a major rise in demand. Novel offerings involving custom-made, computer-aided, and 3D bio-printed, insoles are likely to gain traction in the near future,” says the FMI study.
Orthopedic Insole Market – Leading Takeaways
- Thermoplastic orthopedic insoles are estimated to reflect faster growth owing to superior comfort and durability characteristics.
- Sports-based applications will reflect higher rates of adoption owing to higher fitness awareness among consumers.
- China and India have emerged as high potential markets owing to a vast consumer base and diabetic population.
- North America will lead the market on the back of R&D investments into athletics and sports applications.
Orthopedic Insole Market – Growth Factors
- Widespread prevalence of geriatrics, obesity, diabetes, and plantar fasciitis drive the demand for orthopedic insoles.
- Tech advances in customized insoles with 3d printing technologies support growth in the industry.
- Availability of eco-friendly products and improved reimbursement policies support sales prospects.
Orthopedic Insole Market – Constraints
- Competition from other foot treatment options hinders profitability and holds back market growth.
- Lack of awareness about orthopedic insoles in developing countries, especially in rural areas is limiting growth prospects.
Expected Impact on Market by Coronavirus Outbreak
The global coronavirus pandemic has moderately impacted the orthopedic insoles market. Lockdown restrictions and social distancing guidelines have resulted in postponed elective medical procedures and consultations, which has reduced insole prescriptions. Further, restrictions on industrial activity and international and domestic trade have disrupted supply chains owing to lack of adequate raw materials for manufacturers.
On the other hand, gradual relaxation of lockdown restrictions through 2021 will help to create critical opportunities for recovery through the year. In addition, advances in 3D and bioprinting will support developments in the market enabling long-term growth.
Some of the leading manufacturers participating in the orthopedic insoles market are Cascade Dafo Inc., Reckitt Benckiser Group plc, Stable Step LLC, Otto Bock SE & Co. KGaA, Mile High Orthotics Lab Inc., Birkenstock Digital GmbH, Bauerfeind aG, Steeper, Inc., Allied OSI Labs, A.Algeo Limited, Digitsole, Peacocks Medical Group, Superfeet Worldwide, Inc., and Aetrex Worldwide, Inc. among others.
Leading manufacturers in the orthopedic insoles market are largely pushing for product innovation and launch strategies in addition to efforts towards merger and acquisition actions to generate long-term growth opportunities.
In March 2021, Create it REAl has announced a collaboration with GEBioM to launch a disruptive product concept involving digitalization and 3D printing technologies for personalized insole production. In September 2020, Aetrex Worldwide Inc. launched what it claims is the thinnest 3D printed orthopedic insole, aimed towards footwear which lacks removable insoles. In May 2020, Kingetics announced the development and testing of new technologies in orthopedic insoles for applications with mechanical walking systems to treat musculoskeletal injuries.
Explore data on the orthopedic insoles market with 80 figures, 94 tables and the ToC. You will also find market segmentation on https://www.futuremarketinsights.com/reports/sample/rep-gb-13037
More on the Report
FMI’s provides in-depth insights on the orthopedic insoles market. The market is segmented in terms of insole type (prefabricated and custom), base material type (polymer, plastic, rubber, carbon fiber, and silicone), consumer orientation (men, women, and kids) and sales channel (direct and indirect) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).