The Foot Orthotic Insoles Market is witnessing significant growth due to a surge in demand for pain management solutions and a growing geriatric population. The Foot Orthotic Insoles market was valued at USD 3.65 billion in 2023 and is expected to reach USD 6.28 billion by 2031, with a compound annual growth rate of 7% over the forecast period, according to a report by SNS Insider.
Aging Population, Technological Advancements, and Growing Pain Management Needs Drive Demand
The foot orthotic insoles market is experiencing a surge in growth fueled by several key factors. One of the most significant drivers is the rapidly growing geriatric population. As reported by the United Nations, the number of people aged 65 and above reached a staggering 702.9 million in 2019 and is projected to reach a whopping 1.548.9 million by 2050. This aging population is more susceptible to foot problems like diabetes, arthritis, and plantar fasciitis, creating a significant demand for foot orthotic insoles to improve mobility and alleviate pain.
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Companies are constantly innovating to cater to specific needs. For instance, in October 2022, SUPERFEET WORLDWIDE, LLC launched specialized insoles designed for snowboarders and skiers. Additionally, researchers from the University of Queensland, Australia, developed innovative insole technology in October 2021. This technology utilizes a mobile app to assist individuals with nerve damage in maintaining balance. Such advancements are not only improving the efficacy of insoles but also expanding their reach to address a wider range of foot conditions.
The rising adoption of customized orthotic insoles for pain management is another major growth factor. This trend is coupled with the increasing prevalence of chronic pain and health issues in general. The World Health Organization (WHO) highlights this growing concern, stating that every country is experiencing a rise in its older population. WHO estimates that 1 in 6 people globally will be aged 60 or over by 2027. This trend, along with the projected increase in the population aged 60 and above from 1 billion in 2020 to 1.4 billion in 2030, underscores the growing need for pain management solutions like orthotic insoles.
Another factor influencing market growth is the rising incidence of lower limb deformities among children. As highlighted in a Springer Open article published in November 2021, these deformities can significantly impact a child’s quality of life and worsen over time. Early diagnosis and treatment are crucial, and foot orthotic insoles can play a vital role in managing these conditions.
Finally, advancements in insole technology, such as OrthoLite’s launch of ESD insole technology for work and service footwear in April 2022, are further propelling market expansion by offering enhanced functionality and catering to diverse needs. These advancements not only improve comfort and performance but also open doors to new applications for foot orthotic insoles.
3D Printing Revolutionizes Foot Orthotic Insoles
The foot orthotic insole market is experiencing a transformation fueled by cutting-edge 3D printing technology. This technology addresses the challenge of debilitating foot pain, which affects millions globally and hinders daily activities. Manufacturers are embracing 3D printing to develop advanced insoles for mass production and wider commercialization.
One key example is the collaboration between Covestro and GeBioM mbH in April 2021. This partnership expanded their work in orthopedic footwear and paved the way for custom insole production through 3D printing. Companies like Stratasys Direct are already leveraging this technology to offer 3D-printed orthotics to a vast patient pool, significantly improving their mobility and pain relief. The beauty of 3D printing lies in its ability to create complex geometries with a variety of features, all within a single insole.
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List of Foot Orthotic Insoles Companies Profiled in Report:
- Tynorindia
- Bauerfeind
- Digital Orthotics Laboratories Australia Pty Ltd
- Algeo Ltd.
- Footbalance System Ltd.
- Superfeet Worldwide Llc
- Aetrex Inc.
- Foot Science International
- Thuasne
- Acor Orthopaedic Inc
Foot Orthotic Insoles Industry Segmentation as Follows:
By Material
- Thermoplastics
- Foam
- Composite Carbon Fiber
By Application
- Sports and Athletics
- Medical
- Personal Comfort
By Distribution Channel
- Hospital Pharmacies
- Online Stores
- Retail Stores
Sports Segment Leads Foot Orthotic Insole Market
The foot orthotic insole market is seeing a surge in demand, with the sports and athletics segment leading the charge. Participation in sports often leads to foot problems, including athlete’s foot, a fungal infection that thrives in damp environments. Limited shoe ventilation during extended wear further increases the risk of foot issues. Orthotic insoles are a popular solution to address these concerns.
Highlighting the popularity of sports, a September 2022 Sports Business Journal article revealed basketball as the second-most popular major sport in the US in 2021, with a staggering 27.1 million players. This dwarfs baseball participation by a significant 11.5 million players. Furthermore, the article identified “core hoopers” – those playing at least 13 times a year – at a staggering eight million, double the number of dedicated baseball fans. This vast pool of active sports participants is highly susceptible to foot pain, creating a booming market for foot orthotic insoles.
Beyond the US, data from the Australian Sports Commission’s (ASC) November 2022 AusPlay Survey paints a similar picture. The survey found participation rates of 55% for women, 70.5% for men, and a remarkable 67.3% for children engaged in sports activities across Australia. This widespread interest in sports across demographics is expected to further propel the growth of the sports and athletics segment within the global foot orthotic insole market.
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North America: A Leader in Foot Orthotic Insoles Market
North America is expected to maintain its top spot in the foot orthotic insoles market for the foreseeable future.
The growing prevalence of conditions like arthritis and diabetes creates a need for pain management solutions, which foot orthotics can effectively address. The National Diabetes Statistics Report by the CDC highlights the significant number of diabetic individuals in North America. Diabetic foot care solutions, including specialized insoles, are crucial for this population.
Furthermore, the presence of major market players in North America strengthens its leadership position. These players actively engage in strategic initiatives like mergers and acquisitions, along with new product launches. A prime example is Spenco, under Implus Footcare LLC. In November 2021, they launched Propel and Propel + Carbon insoles, designed to enhance running shoes with advanced technology. This focus on innovation further propels market growth in North America.
Key Takeaways from the Foot Orthotic Insoles Market Report
- Gain a strategic advantage by learning about the latest advancements in 3D printing and sensor integration that are revolutionizing the industry, offering improved customization and data collection capabilities for foot orthotic insoles.
- Gain valuable knowledge about the anticipated surge in the sports and athletics segment, driven by the rising popularity of sports activities.
- Gain a deeper understanding of the growing diabetic and everyday use segments, fueled by the increasing prevalence of diabetes and rising disposable income.
- Gain a competitive edge by understanding the factors contributing to North America’s dominance in the market, including the high prevalence of chronic conditions and the presence of major industry players.
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