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The global foot orthotic insoles market size was USD 3.25 billion in 2019. The global impact of COVID-19 has been unprecedented and staggering, with foot orthotic insoles witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market will exhibit a huge decline of -8.3% in 2020. The market is projected to grow from USD 2.98 billion in 2020 to USD 4.50 billion in 2027 at a CAGR of 6.1% in the 2020-2027 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Foot orthotic insoles are shoe inserts designed to cure the foot deformities and stabilize the biomechanical misalignment of the foot. Many patients are now adopting specially designed orthotic insoles that provide them with personal comfort in daily life and reduce pain. The increasing incidence of chronic pain owing to various health problems is boosting the demand for insoles.
Diabetes is one of the most common causes of foot pain in adults. According to the International Diabetes Federation, approximately 463 million adults have diabetes in 2019 globally. This is acting in favor of the market. Also, the incorporation of 3D scanners by manufacturers that can provide custom foot insoles in less time is propelling the market.
Postponed Orthotics Appointments amid COVID-19 to Negatively Impact Market Growth
The COVID-19 pandemic has created havoc across the globe. It has disrupted the healthcare environment adversely. The impact of the pandemic is overwhelming in the medical devices sector, with both ups and downs. Major factors for this scenario are disruptions in the supply chain and a drastic decrease in-patient volumes in hospitals. As most outpatient appointments are canceled or rescheduled, the patient volume in orthotics and podiatry clinics has decreased. This has negatively impacted the orthotics industry.
Major players operating in the market have seen a drop in revenues from the orthotic segment due to potential customers delaying their purchase and disruptions in the supply chain as the lockdown was imposed in many countries during the pandemic. For example, Hanger Inc. witnessed a decrease of 15.3% in its product & services segments during the first six months in 2020 compared to the same period in 2019. Likewise, the bracing and support segment of Össur declined by 27.0% during the first six months in 2020 compared to the same period in 2019.
However, orthotic clinics having digital technologies such as 3D scanners and digital imaging could sustain their business during the pandemic. According to a survey conducted on orthotists and prosthetists during June-July 2020, 44% of prosthetists/orthotists adopted digital technology that enabled them to provide safe care during the COVID-19 pandemic.
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Adoption of Machine Learning and 3D Scanners to Augment Market Growth
Due to the increasing traction for orthotic foot inserts, the players adapt to new technologies to provide better solutions to the customers. Many manufacturers are focusing on adopting artificial intelligence and machine learning tools. AI-powered sensors can provide patient data to determine the effect of foot insoles on patients. Many startups such as Shapecrunch, Andiamo are adopting big data and machine learning tools to provide world-class insoles.
With the advent of 3D scanners and printers, the manufacturing of customized foot insoles has become simpler. 3D scanners can be used to take the measurements of the patients, even with the help of smartphones. For example, Footbalance Systems Ltd. adopted FitZone 3D technology in its retail outlets. The customers can get their foot scan and order customized foot insoles in less than 10 minutes. In January 2020, Digital Orthotics Laboratories Australia Pty Ltd. launched the DOLA iPad app to be used along with iPad 3D scanners to capture 3D foot scans for manufacturing customized insoles. Such technological advancements are projected to provide significant momentum to the orthotic insoles market.
Rising Prevalence of Chronic Foot Ailments to Drive Market Growth
Foot insoles are prescription medical devices to reduce pain caused by medical conditions such as diabetes, plantar fasciitis, bursitis, and arthritis. Foot pain affects more than 30% of the general population. As per the National Center for Biotechnology Information, the annual prevalence of diabetic foot ulcers across the globe is between 9.1 to 26.1 million. It is further estimated that approximately 20% to 25% of the population with diabetes mellitus will develop diabetic foot ulcers during their lifetime. Thus, the increasing prevalence of chronic foot ailments is a major factor driving the foot orthotic insoles market growth.
Plantar fasciitis is one of the most common causes of heel pain in the geriatric population. Hence, the high incidence of the disorder will reflect a positive growth trajectory for the market. According to the American Academy of Family Physicians, more than 800,000 Americans younger than 65 years seek outpatient treatment of plantar fasciitis each year. This, in turn, is likely to favor the market growth.
Clinical Studies Proving the Efficacy of Orthotic Foot Inserts to Foster Market Growth
The growing focus on clinical studies to evaluate the efficacy of foot inserts in several chronic foot ailments will robustly support market expansion. For instance, in 2016, Rush University Medical Center, in collaboration with the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), initiated a clinical trial to analyze the effectiveness of customized shoe inserts in controlling and relieving the pain of knee osteoarthritis.
Similarly, in 2019, as per the BMJ Journal, a multicentre, randomized controlled feasibility study to compare the effectiveness of a novel instant optimized insole with a standard insole for people with diabetic neuropathy was initiated in the U.S. The increasing number of clinical studies supporting the effectiveness of these insoles in reducing foot and ankle pain boosts its adoption among the patient population.
Presence of Alternative Therapies to Hinder Market Growth
The availability of substitute therapies such as acupuncture and several other stimulation devices for the treatment of chronic foot-related ailments is expected to hamper the growth of the market. Where foot orthotic insoles take months to reduce the pain, electrical stimulation devices are associated with reduced recovery time. The treatment options available for plantar fasciitis consist of non-invasive physical therapy modalities, shock-wave therapy, minimally invasive treatments such as steroid or platelet-rich plasma injections, proving to be more helpful than insoles. This is expected to hamper the market growth.
Limited awareness among lower-income countries about the benefits of orthotic insoles and shortage of orthotists and podiatrists in developing countries are other significant factors acting as an obstacle in the industry.
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Customized Segment to Dominate Market Owing to Increasing Preference among Patients
Based on type, the market is segmented into prefabricated and customized.
The customized segment is expected to dominate the market during the forecast period. Customized orthotic insoles are more preferred among patients as it matches their size and comfort specifications. The majority of orthotists prescribe customized foot insoles for better clinical outcomes. This is one of the primary reasons for the expansion of the segment. Apart from this, technological advancements such as 3D foot scanners and molding clay have eased the manufacturing of customized foot insoles. This is anticipated to favor the growth of the segment.
The increasing awareness about the benefits of foot insoles, new product launches, and the rising geriatric population are the major factors propelling the growth of the prefabricated segment. Also, the rising prevalence of arthritis, obesity, and plantar fasciitis are likely to augment the growth of the segment.
Medical Segment to Showcase Maximum Growth
Based on application, the market can be categorized into medical, sports & athletics, and personal.
The medical segment dominated the market in 2019 and is projected to showcase remarkable growth during the forecast period. The increasing number of clinical evidence indicating the efficacy of foot orthotic insoles in reducing pain in various diseases and disorders is the primary reason attributable to the prominent share of the medical segment. According to the article published in the journal Archives of Physical Medicine and Rehabilitation, prescription shoe orthotics significantly improved back pain and dysfunction. Thus, an increasing number of studies indicating the effectiveness of these products are expected to favor its adoption for medical purposes.
In recent years, people have become more concerned about their health and are following healthy lifestyles that involve physical activities such as running, walking, and sports. Over-the-counter foot insoles can be easily attached to footwear. Also, many manufacturers are offering footwear solutions with non-removable orthotic insoles. This is poised to surge the demand for foot orthotic insoles for sports and athletics.
Owing to the advantages of orthotic inserts, many patients are adopting them in their daily life. Considering this, several manufacturers are coming up with insoles that can be easily used along with formal shoes and scandals and have high aesthetic appeal. This, in turn, is accelerating the growth of the personal segment.
Foam Segment to Register the Maximum CAGR
Based on material, the market can be categorized into thermoplastics, ethyl-vinyl acetate, foam, composite carbon fiber, and others.
The ethyl-vinyl acetate (EVA) segment accounted for the maximum portion of the market in 2019. Easy availability of these orthotic insoles made of EVA and comparatively low pricing compared to polypropylene foam-based foot insoles is anticipated to fuel the segment growth.
The rapid adoption of foot inserts for sports and physical activities increases the demand for effective shock-absorbing insoles materials. As foam-based foot orthotic insoles offer excellent shock absorption, they are gradually gaining a lot of traction, in-turn favoring expansion of the foam segment.
Thermoplastics such as polypropylene have been used for many years for manufacturing these orthotic insoles. Furthermore, insoles made from thermoplastics provide a significant reduction in plantar pressure, and hence a material of choice among manufacturers. All these factors are anticipated to drive the growth of the segment.
Rising Geriatric Population to Favor the Adults Segment
Based on the age group, the market can be categorized into adults and pediatrics.
The adults segment held a prominent position in the market. Diabetes, arthritis, chronic pain, and others are common problems associated with old age. Hence many adults are prescribed foot orthotic insoles. This is the main reason for the expansion of the adult segment. According to the CDC, the number of adults with doctor-diagnosed arthritis is projected to reach from 54 million to 78 million by 2040. This is expected to impact the growth of the segment positively.
A rise in the number of cases for congenital foot deformity and the increasing number of foot insoles specially designed for pediatrics such as Formthotics, are anticipated to provide significant momentum to the growth of the pediatrics segment.
Hospital Pharmacies Segment to Hold Maximum Portion of Market
In terms of distribution channel, the market is segmented into hospital pharmacies, retail stores, and online stores.
Favorable health reimbursement for orthotic insoles and the increasing penetration of customized foot inserts are expected to boost the hospital pharmacies segment. The majority of the patients prefer customized foot insoles. The fact that a prescription from a medical professional is needed for customized insoles is a key reason attributable to the growth of the segment.
Key players such as Dr. Scholl, Superfeet Worldwide, Bauerfeind AG, Hanger Inc, Implus LLC, Footbalance Ltd., and others are increasing their efforts to expand their geographical footprints by opening retail outlets across the globe. This is anticipated to contribute to the expansion of the retail stores segment.
The online stores segment is projected to grow owing to the rapid adoption of over-the-counter orthotics and increasing e-commerce portals.
North America Foot Orthotic Insoles Market Size, 2019 (USD Billion)
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The foot orthotic insoles market in North America stood at USD 1.37 billion in 2019. The rapid adoption of 3D printers for making orthotic insoles and the increasing number of podiatrists and orthotists are expected to drive the growth of the market in the region.
Favorable reimbursement policies for orthotic foot inserts, coupled with the increasing government efforts to raise awareness about foot care through awareness initiatives, are primary factors attributable to the growth of the market in Europe. According to a cross-sectional survey of orthotic service published in BMJ Open journal, about USD 36.2 million were spent in the U.K. during 2015-2016 on orthotic products. Thus, increasing expenditure on orthotic services and products is likely to favor the market in Europe.
Asia Pacific is anticipated to experience a remarkable growth during the forecast period. When compared to others, Asian countries such as India and China have a high number of geriatrics. This is one of the key reasons for the considerable growth of the segment.
The market in the rest of the world is anticipated to grow owing to improving healthcare spending and the rising awareness regarding foot orthotic insoles.
Large Customer Base to Render a Leading Position to Hanger Inc.
The market is highly fragmented, with various national and international players. In terms of market revenue, Hanger Inc. held a prominent position in the market. Partnership with numerous healthcare professionals to bring them into their Hanger Clinic network and huge customer base are key factors for the dominant position of the company. Strategic collaboration to expand its geographical footprints is favoring the market position of Aetrex Worldwide Inc.
The market is becoming highly competitive with new startup companies such as Tynor Orthotics Pvt. Ltd. Shapecrunch, and A. Algeo Limited, entering into the market adopting the latest technologies and securing funds from investors. For instance, in June 2018, Tynor Orthotic Pvt. Ltd. received an investment of USD 20.85 million from Lighthouse Funds, a private equity firm and Thusane, which will favor the company to attain its growth objectives.
An Infographic Representation of Foot Orthotic Insoles Market
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The market research report presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed foot orthotic insoles market analysis and information as per market segments, helping our readers to get a comprehensive overview of the global market.
Value (USD Billion)
Type; Application; Material; Age Group; Distribution Channel and Geography
By Age Group
By Distribution Channel
Fortune Business Insights says that the value of the global market was USD 3.25 billion in 2019.
Fortune Business Insights says that the market is projected to reach USD 4.50 billion by 2027.
North America stood at USD 1.37 billion in 2019.
The market is projected to rise at a CAGR of 6.1% during the forecast period (2020-2027).
The customized segment is the leading segment in this market.
The increasing prevalence of chronic foot ailments and clinical studies proving the efficacy of orthotic foot inserts are the key factors driving the global market.
Hanger Inc., Implus LLC, and Scholl’s Wellness Co. are the top players in the global market.
North America is expected to hold the highest market share.
The increasing adoption of machine learning and 3D scanners is the key trend of the market.
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