The worldwide sales of foot orthotic insoles are poised for substantial growth during the projected period, driven by factors such as the increasing number of elderly and obese individuals. According to the Department of Health and Human Products, the United States alone is expected to have 72.1 million older adults by 2030, nearly twice the number in 2000. This demographic shift is propelling the demand for foot orthotic insoles, as elderly individuals seek better foot support and comfort.
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Furthermore, the rising prevalence of health issues like obesity, osteoarthritis, and diabetic foot problems is contributing significantly to the expansion of the foot orthotic insoles market. According to NCBI, the global incidence of diabetic foot ulcers is expected to reach between 9.1 and 26.1 million by 2021, with approximately 20% to 25% of people with diabetes mellitus likely to develop diabetic foot ulcers. The increasing incidence of diabetes worldwide has led to a surge in diabetic foot ulcers, further fueling the demand for foot orthotic insoles to alleviate foot discomfort and complications.
One of the key technological innovations driving market growth is the use of 3D footprinting techniques. These cutting-edge technologies are enhancing the functional capabilities and manufacturing processes of custom-made foot orthotics. Research has shown that advanced 3D printers, such as the HP Multi Jet 3D printer, can produce up to 21,000 pairs of foot orthotics annually, significantly reducing material waste compared to conventional manufacturing methods. This technology is set to drive the expansion of the foot orthotic insoles market due to its efficiency and cost-effectiveness.
In addition to technological advancements, substantial investments in research and development have led to solid clinical research demonstrating the effectiveness of insoles in treating various foot disorders. Companies like Talita Cumi Ltd. and Aetrex Worldwide Inc. are conducting comparative clinical trials to assess the impact of indoor comfort sandals with built-in arch support and prefabricated orthotics on treating plantar fasciitis. These research initiatives are anticipated to further accelerate the growth of the foot orthotic insoles market during the projection period.
However, the COVID-19 pandemic has presented challenges to the market, as research and development efforts have been diverted towards addressing the pandemic's impact on healthcare. Lockdowns, cancellations of elective surgeries, and disruptions to wound care services have temporarily slowed down market growth. Despite this short-term impact, the market is expected to rebound as the global healthcare system adapts to the changing landscape.
Rapid urbanization and associated lifestyle changes, especially in emerging nations, are contributing to an increase in foot disorders due to sedentary behavior and improper footwear choices. As a result, the usage of foot orthotic insoles for preventive and therapeutic purposes is projected to witness significant growth in response to the rising prevalence of orthopedic problems associated with modern lifestyles.
Key market players are driving growth through strategic initiatives, including mergers, acquisitions, and expanding their product portfolios. These efforts aim to enhance their technical capabilities and cater to consumers' diverse needs, ultimately contributing to the expansion of the foot orthotic insoles market.
North America currently holds the largest revenue share in the global foot orthotic insoles market, driven by increased investments in research, technology adoption, and government support. Europe is also expected to witness stable revenue growth due to a large population of older adults and growing awareness of foot care issues.
Major companies in the foot orthotic insoles market include Aetrex Worldwide Inc., Bauerfeind AG, Acor Orthopedic, Amfit Inc., Dr. Scholl’s (Bayer), and Tynor Orthotics Pvt. Ltd., among others.
The foot orthotic insoles market is poised for considerable expansion in the coming years, driven by technological advancements, increasing health issues, and rising awareness of foot care. Customized insoles and thermoplastic materials are expected to be the dominant segments within the market due to their superior advantages and growing popularity among consumers.
