Global Foot Orthotic Insoles Market: Snapshot
The global foot orthotic insoles market is envisaged to draw a sturdy demand in the next few years as healthcare spending and technological advancement witness a consistent rise. Developments in healthcare technology have been surging in the recent era with the need to improve the firmness and stability of feet in problematic cases arising due to arthritis, obesity, and diabetes. The worsening prevalence of these diseases is foretold to augment the demand in the market. Approximately a 7.0% of 20.8 million children and adults suffer from diabetes in the U.S., according to the American Academy of Orthotists and Prosthetists. More than half of the non-traumatic amputation incidences could be caused by diabetic complications.
Besides the demand for foot orthotic insoles on account of an enlarging diabetes spread, the ballooning occurrence of obesity is projected to be one of the leading stimulants of growth in the orthotic sector. The need for orthopedic support solutions and devices could be on the rise with the multiplying incidences of orthopedic ailments triggered by growing obesity pervasiveness. This is particularly expected to bode well for the global foot orthotic insoles market.
Industry players are envisioned to enter into strategic partnerships and broaden their product portfolio by responding to the consistent demand for innovation and upgradation of products in the global foot orthotic insoles market. Players could also increase their customer base and launch various new products to showcase their dominance in the market. The trend of custom foot insoles designed for application in different end-user markets is anticipated to be key for a dependable growth in the overall market.
Unexpected falls are the primary cause of the injury among the elderly. Each year more than 18,000 elder adults expire from injuries sustained through such falls, and the global cost of their treatment is anticipated to surpass $50 billion by 2020.
Several of these falls may also be due to weakened sensory capabilities of the foot that naturally come with age. The persons with diabetes might experience such weakened sensory function that they develop foot ulcers, which often result in amputation (i.e. removal of a limb by surgery, trauma, or medical illness). Shoe inserts are useful for variety of foot alignment, they provide comfort to the feet by giving a cushion effect to the feet and can support the arches, but they are unable to correct the biomechanical foot problems or cure long-standing foot problems. There are different types of shoe inserts, which are currently available such as arch supports insoles, heel liners also known as heel cups or heel pads, and foot cushions.
Foot Orthotic Insoles are mechanical devices attached to the shoe or placed inside the shoes to assist in maintaining or restoring the normal alignment, and natural function of the foot. Although flat feet is the most common biomechanical complaint there are many other complaints such as; arch, achilles, shin, heel, knee, and lower back pain. These affect are due to the poor foot function. Thus, foot orthotic insoles wherever possible can realign the foot and anklebones to their neutral position. It also helps to relief stress from injured and strained soft tissues, deformed bones, joints, and inflamed or chronic bursae.
The market is majorly categorized into custom and prefabricated foot insoles. Custom foot insoles prescribed by orthotist, podiatrist, orthopedist pedorthist, chiropractor, or any other health professional with a background in biomechanics, in order to steady, and correct biomechanical misalignment of the feet and lower limbs. Foot orthotic insoles market segmentation is into types, end users, and geography. Based on the type of material, the market differentiated into leather, EVA form, polypropylene thermoplastic, nylon, and others. End users classification is as sports, medical, further classification is (diabetes, obesity, rheumatoid arthritis, and others) and comfort. Based on the geography, market segmentation is North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominates the foot orthotic insoles market.
The factors such as rise in the ageing population, increase in the lifestyle associated disorders such as diabetes and obesity, increasing awareness about the foot orthotic insoles, and rise in the disposable income are the factors responsible to drive the market of foot orthotic insoles. The high price of the foot orthotic insoles is known to decline the growth of the market.
Some of the major key players of foot orthotic insoles market are Bayer Healthcare AG, Superfeet Worldwide Inc., Hange Prosthetics & Orthotics Inc., Bauerfeind AG, Ottobock Holding GmbH, Hanger Inc., Comfortfit Orthotic Labs Inc., and Bauerfeind AG.
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