Foot
orthotic insoles are intended to support or correct the
abnormal or irregular walking pattern. 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. These insoles amend the postural
stability by enhancing the afferent somatosensory information available to the
central nervous system and provide arch support and pain relief for myriad of
foot conditions including flat feet.
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The demand for the foot orthotic insoles has seen a dramatic
increase over the past few years due to the increasing prevalence of diseases
such as diabetes, obesity, arthritis. According to the American Academy of
Orthotists and Prosthetists, out of 20.8 million children and adults in the
U.S., around 7% have diabetes. Diabetes is the leading cause of lower limb
amputations, with over 50% of non-traumatic amputations due to diabetic
complications. With growing incidence of diabetes, demand for foot orthotics
insoles is expected to grow significantly. Similarly, obesity will be a key
driving factor for orthotic industry, as rising incidence of obesity will lead
to growth in orthopedic ailments and hence, the need for orthopedic support
devices and solutions.
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The market for foot insoles
is going to evolve at much faster rate with the rise in healthcare spending and
advancement of the technologies which provide greater stability and firmness to
the feet. The adoption rate among users is also growing significantly across geographic
regions.
According to recent study
from IndustryARC, the global foot
orthotic insoles market registered revenues of around $2.5 billion in 2014
and is estimated to grow at a CAGR of 5.8%
to reach $3.5 billion by 2020. The biggest contributor is the North America
region with a market share of around 45%. Foot insoles in the diabetic segment generated
highest revenue followed by Rheumatoid Arthritis in 2014.
There is a constant demand
of technically advanced and upgraded products in the Foot orthotic insole
market. Majority of the companies are hence launching various products
consistently and also entering into partnerships to broaden their portfolio and
increase their customer base.
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Custom foot insoles are
revolutionizing the footwear industry
The custom foot insoles are
divided into sports, medical and comfort segment which caters to the needs of
different population segments. Growing demand for custom foot insoles market is
mainly driven by aging population and rising healthcare spending worldwide.
This will spur the usage of custom foot insoles across the globe as they
promise correct alignment and relief while being affordable and easily accessible.
The growing customized foot
insoles segment work on the concept of 3D printing, in which the foot can be
scanned and the insole can be manufactured with the exact measurements. The
increased focus on sports activities is also going to be one of the driving factors
of this market segment.
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Orthotic
Devices Market Analysis: By Type (Knee Braces & Supports, Ankle Braces
& Supports Upper Extremity Braces & Supports and Others), By
Application (Injuries, Chronic Diseases, Disabilities, Pediatrics) - With
Forecast (2015 -2020)
The
key global players in Custom foot insoles market:
- Bayer Healthcare AG
- Hange Prosthetics & Orthotics Inc
- Bauerfeind AG
- Superfeet Worldwide Inc and
- Ottobock Holding GmbH.
They continue to hold the majority
share in the market as they are investing in R&D and constantly improving
their distribution network.
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IndustryARC is a research and
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industries, such as Agriculture, Automotive, Automation & Instrumentation,
Chemicals and Materials, Energy and Power, Electronics, Food & Beverages,
Information Technology, Life sciences & Healthcare.
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primarily focuses on Cutting Edge Technologies and Newer Applications of the
Market. Our Custom Research Services are designed to provide insights on the
constant flux in the global demand-supply gap of markets. Our strong analyst
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variety of options for your business.
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look forward to support the client to be able to better address customer needs;
stay ahead in the market; become the top competitor and get real-time
recommendations on business strategies and deals. Contact us to find out how we
can help you today.
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