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Rapid Urbanization And Associated Lifestyle Diseases is driving the growth of Foot Orthotic Insoles Market

HYDERABAD, TELANGANA, INDIA, February 13, 2023 /EINPresswire.com/ -- The Foot Orthotic Insoles Market size is estimated to reach $3,877 million in 2025, growing at a CAGR of 2.9% during the forecast period 2020-2025. Growing demand for Foot Orthotic Insoles is mainly driven by rising chronic foot diseases, enhanced awareness among people to treat these disorders, increased healthcare spending, and growth in sports activities. The foot orthotic insoles cater to people who are subject to diseases such as diabetes, plantar fasciitis, rheumatoid arthritis, foot deformities, and other chronic diseases as well as injuries. It also serves the need of the sports community such as athletes, football players, and basketball players. Foot orthotic insoles are intended to support or correct abnormal or irregular walking patterns. They change the angle at which the foot strikes while walking and therefore assist the limb or the torso to restore the alignment and positioning of the foot.

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Key Takeaways

1. North America dominated the Foot Orthotic Insoles Market with a share of 40.47% in the year 2019.

2. The factors such as rising chronic foot diseases, enhanced awareness among people to treat these disorders, and growth in sports activities are among the major factor projected to impel the growth of the Foot Orthotic Insoles Market.

3. Increase in innovations of production and modeling technologies coupled with the high investment in R&D from top companies are the key factors owing to the growth in the segment during the forecast period 2020-2025.

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Segment Analysis

1. Based on the manufacturing method, Foot Orthotic Insoles Market is classified as custom, custom-molded, 3D printed, and pre-fabricated foot insoles. Prefabricated insoles dominate the market in 2019, as these are cost-effective and can be purchased off the shelf without any prescription. The increasing prescriptions for use of insoles in the treatment of foot-related disorders across the globe are set to play a major role in the growth of the market. The market for 3D Printed custom insoles is set to grow the fastest with a CAGR of 4.8% during the forecast period 2020-2025 owing to increased adoption of this method. 3D printing usage in prefabricated devices is also set to grow significantly owing to these advantages.

2. North America is the major region dominated the Foot Orthotic Insoles Market with a revenue share of 40.47% in 2019. This is owing to a well-established customer base owing to the rising awareness towards personal healthcare and technological advancements. However, the Asia Pacific region is projected to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to the rise in the prevalence of chronic diseases, disposable income as well as increasing awareness about foot orthotic insoles.

Competitive Landscape:

The top 5 players in the Foot Orthotic Insoles Market Industry are -

1. Ottobock Holding GMBH &Co. KG
2. Superfeet Worldwide Inc.
3. Bayer AG, Bauerfeind AG
4. Aetrex Worldwide Inc
5. Comfortfit Orthotic Labs

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