LONDON--(BUSINESS WIRE)--Technavio has been monitoring the orthotic foot insoles market since 2018 and the market is poised to grow by USD 1.12 billion during 2020-2024, at a CAGR of 6% during the forecast period. Request free sample pages
Read the 120-page research report with TOC on “Orthotic Foot Insoles Market Analysis Report by Application (Medical and Sports), Distribution Channel (Retail outlets and Online Retail), and Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2020-2024”.
The orthotic foot insoles market is driven by an increase in diabetic cases. In addition, an increased demand for foot insoles from sports segment is anticipated to boost the growth of the market.
The number of diabetes patients has increased significantly over the past few years. In 2019, 463 million adults had diabetes, with more than 1.1 million cases of Type 1 diabetes. Diabetic foot is one of the complications arising from diabetes, which is caused by poor blood circulation and diabetic neuropathy. For diabetic patients, orthotic foot insoles help in preventing pressure on the footpoint, which otherwise deteriorates owing to the excess friction inside the shoe. Therefore, with the increasing number of cases of diabetes and rising awareness about the treatment and prevention of further complications, the market in focus is expected to witness significant growth during the forecast period.
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Five Major Orthotic Foot Insoles Market Companies:
Bauerfeind AG is headquartered in Germany and operates the business under Products and Service segments. The company offers a wide range of plastic insoles for foot such as globoTec comfort sports, globoTec orthosis systems, ergopad redux hallux, and ergopad redux heel.
Bayer AG is headquartered in Germany and operates under the following business segments: Pharmaceuticals, Consumer Health, Crop Science, and Animal Health. The company offers a wide range of athletic insoles through the Dr. Scholl's brand.
Footlogics Australia Pty Ltd.
Footlogics Australia Pty Ltd. is headquartered in Australia and offers products through its Unified segment. The company offers a wide range of orthotic insoles, such as Footlogics COMFORT, Footlogics METATARSALGIA, Footlogics SENSI, and Footlogics CASUAL.
Guangzhou Shunyang SM Co. Ltd.
Guangzhou Shunyang SM Co. Ltd. is headquartered in China and offer products through its unified segment. The company offers a wide range of insole products which include insoles for children’s footwear, along with insoles for casual, sports, and fashion footwear. They also specialize in insole shapes, and insole finishes.
Hanger Inc. is headquartered in the US and operates under the following business segments: Patient Care and Products & Services. The company offers footwear and insoles, such as Diabetic Footwear, SureFit Shoes, and Answer2 Shoes.
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Orthotic Foot Insoles Application Outlook (Revenue, USD Billion, 2020-2024)
Orthotic Foot Insoles Distribution Channel Outlook (Revenue, USD Billion, 2020-2024)
- Retail outlets
- Online retail
Orthotic Foot Insoles Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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