Foot Orthotic Insoles Market to Expand at 6.8% CAGR from 2025 to 2032; Hanger Announced an External Advisory Board for Joining the Hanger Institute for Clinical Research & Education

The global foot orthotic insoles market size was valued at USD 4.22 billion in 2024. The market is projected to grow from USD 4.51 billion in 2025 to USD 7.16 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period.

The growth can be credited to the soaring prevalence of chronic disorders and considerable advancements in technology. Additional factor propelling industry expansion is the rising prevalence of foot ailments across various regions. Fortune Business Insights™ presents this information in its report titled “Foot Orthotic Insoles Market Size, Share & Industry Analysis, By Type (Prefabricated and Customized), By Material (Thermoplastics, Ethyl-vinyl Acetate (EVA), Foam, Composite Carbon Fiber, and Others), By Application (Medical, Sports & Athletics, and Personal), By Age Group (Adults and Pediatrics), By Distribution Channel (Hospital Pharmacies, Retail Stores, and Online Stores), and Regional Forecast, 2025-2032”.

Negative Effect on Industry Growth Propelled by Cancellation of Appointments Amid COVID-19 Pandemic

The COVID-19 pandemic witnessed a decline in the revenues of leading industry participants. Several regions recorded an increase in the cancellation orthotic appointments during the pandemic period. However, the deployment of digital technologies helped the revival of industry growth. The period further registered an upsurge in product purchase by major e-commerce portals.

Hanger Announced an External Advisory Board would Join the Hanger Institute for Clinical Research & Education

In October 2021, Hanger announced that an external advisory board in tandem with industry and academic partners would join the Hanger Institute for Clinical Research & Education. The deal would help enhance patient outcomes and advance the clinical practice of prosthetics and orthotics.

The Hanger Institute was set up in March 2021 for the expansion, exploration, and facilitation of opportunities that help the advancement of leading-edge research. Along with external partners, over 50 professionals within Hanger support the mission of the Institute, ranging from associates comprising clinicians, core faculty, and other employee affiliates.

Escalation in Market Value Propelled by Rising Technological Advancements

The foot orthotic insoles market growth is being impelled by the growing technological advancements. The growing usage of 3D printing techniques provided considerable opportunities for the improvement of functional abilities.

However, the industry expansion could be hampered by the high costs of customized insoles and limited rate of penetration in emerging countries.

Major Players Ink Partnership Agreements to Strengthen Industry Footing

Key industry participants are centered on the implementation of an array of initiatives for strengthening their industry positions. These steps comprise acquisitions, merger agreements, and partnerships. Other initiatives include partnerships, collaborations, and the formation of alliances. Some companies are also participating in trade conferences for the enhancement of business prospects.

Key Players Profiled:

• Implus Footcare LLC (U.S.)

• Hanger Inc. (U.S.)

• Aetrex Worldwide, Inc. (U.S.)
• Footbalance System Ltd. (Finland)
• Tynor (India)
• Digital Orthotics Laboratories Australia Pty Ltd. (Australia)
• Thuasne (France)
• Foot Science International (New Zealand)
• OttoBock (Germany)
• Superfeet Worldwide, Inc. (U.S.)

Notable Industry Development

September 2021 – Footbalance System Ltd. partnered with capital investor IGPL. The deal helped the expansion of business and the acceleration of industry growth.

Further Report Findings

• The North America foot orthotic insoles market share is estimated to depict lucrative growth over the forecast period. The rise is due to the increasing 3D printer adoption for producing customized insoles.
• The Asia Pacific market is slated to register considerable upsurge over the estimated period. The surge is on account of an escalation in geriatric population in the region.
• Based on type, the market for foot orthotic insoles is bifurcated into prefabricated and customized. The customized segment is slated to exhibit appreciable expansion over the study period. The upsurge can be credited to the rising preference for customized foot insoles and increasing technological advancements.
• On the basis of material, the market for foot orthotic insoles is segmented into foam, thermoplastics, composite carbon fiber, ethyl-vinyl acetate (EVA), and others. The ethyl-vinyl acetate (EVA) segment is expected to register substantial growth over the forecast period. The surge can be attributed to easy product availability.

Table of Segmentation