Pune, India -- (SBWire) -- 05/03/2019 --Our latest research report entitled Foot Orthotic Insoles Market (by type (leather, eva form, polypropylene thermoplastic), application (sports, medical, comfort)) provides complete and deep insights into the market dynamics and growth of foot orthotic insoles. Latest information on market risks, industry chain structure foot orthotic insoles cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential foot orthotic insoles growth factors. According to the report the global foot orthotic insoles market is projected to grow at a CAGR of 5.6% over the forecast period of 2018-2024.
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Foot Orthotic Insoles Market: Insights
Foot orthotic insoles are devices placed inside the shoes with the purpose of restoring natural foot function also these are used to overcome the deformities connected with the foot. Unpredicted falls are the major cause of the injury among the aged population. Therefore to avoid such problems and risk, a variety of shoe inserts are used. It comes with soft cushion effect used for foot alliance and provides comfort to the feet, and gives relief to arch, shin, knee, Achilles, heel, and lower back pain.
Foot orthotic insoles are manufactured as prefabricated or custom made. Foot orthotic market is mainly driven by custom foot insoles. The demand for custom insoles is increasing on account of increased usage of custom soles by aged population coupled with increasing healthcare spending. The demand for custom foot insoles is increasing worldwide due to its assurance for correct alignment and relief in the pain of the foot. Further, increasing necessities in safety and comfort for sports community such as athletes, hockey players, football players, and several others, to absorb the shocks owing to extensive foot activity the, demand for Foot orthotic insoles is increasing and this factor is boosting the market growth.
Foot Orthotic Insoles Market: Drivers and Restraints
In addition, factors such as an increase in aged population reduce pronation and provide extra support for those with high arches increase in disposable income, and growth in lifestyle connected with disorders such as diabetes and obesity are some of the factors responsible to drive the market of foot orthotic insoles. The patients suffering from diabetes easily develop minor cuts, scrapes, blisters, or pressure sores that they may not be aware of due to the insensitivity; therefore to avoid such problems foot orthotic insoles are used. The rise in made-to-order foot insoles concept is working on 3D printing in which the foot is being scanned and the insole is made with the exact measurements this, in turn, is estimated to provide several growth opportunities for foot orthotic insoles market over upcoming years. On the contrary high price of the foot orthotic insoles is hampering the growth of the market.
Foot Orthotic Insoles Market: Regional Analysis
Among the geographic, the North America region has dominated the growth in foot orthotic insoles market. The factors driving the growth of this market in North America are technological advancements and increasing awareness of personal healthcare. Furthermore, aged population and changing lifestyle are the reasons for increase in the need for foot orthotic insoles. Besides this, in Asia Pacific region the foot orthotic insoles market is set to grow at a rapid pace mainly in China, India, and Japan due to increase in disposable income, growing incidence of chronic diseases and increasing focus on improving quality of lifestyle.
Foot Orthotic Insoles Market: Segmentation
The report on global foot orthotic insoles market covers segments such as type and application. On the basis of type the global foot orthotic insoles market is categorized into leather, eva form, polypropylene thermoplastic, and others. On the basis of application, the global foot orthotic insoles market is categorized into sports, medical and comfort.
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Foot Orthotic Insoles Market: Competitive Landscape
The report provides profiles of the companies in the global foot orthotic insoles market such as Hange Prosthetics and Orthotics Inc., Superfeet Worldwide Inc., Bayer Healthcare AG, Hanger Inc., Ottobock Holding GMBH., Bauerfiend AG, Comfortfit Orthotic Labs Inc, and Bauerfeind AG.
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Report Findings
1. Drivers
- Rising Number of Aging Population
- Increasing Demand for Custom Insoles
- Increasing Demand for Safety and Comfort for Sports Shoes
2. Restraints
- High Cost
3. Opportunities
- Increasing Disposable Incomes and Rapid Growth in the Global Economy
- Technological Advancements in Personal Healthcare Sector
