Global Foot Orthotic Insoles Market to Reach $4.50 Billion | 58% Population Suffering from Foot Pain are Using Foot Orthotic Insoles and 77% are Willing to Buy them

Global foot orthotic insoles market size was valued at USD 2.97 billion and is projected to reach USD 4.50 billion by 2028, exhibiting a CAGR of 6.1% during the forecast period (2022–2028).

Westford, USA, Aug. 25, 2022 (GLOBE NEWSWIRE) -- There is a growing demand for foot orthotic insoles market, as the condition of heels and feet continues to worsen. In fact, SkyQuest’s market analysis suggests that more than 1/3rd of adult report having heel pain, and up to 75% experience foot pain at some point in their lives. While there is no cure for heel or foot pain, there are numerous treatments available that can help improve symptoms. Some of these treatments include foot orthotics, which are designed to correct joint alignment and relieve pain.

Global foot orthotic insoles market is majorly driven by the population suffering from some kind of foot pain. As per SkyQuest study, more than 50% of patient population suffering from foot pain are making use of foot orthotic insoles. The prevalence of foot orthotic use rises as patients age, with 76% of 55–64-year-old are using foot orthotics and 88% of 85–94-year-old population are using them. The study also suggests that more women (83%) than men (70%) use foot orthotics, and people with a diagnosis of diabetes are more likely to use them (86%).

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The increase in the number of people suffering from foot ulcers is likely to drive the global foot orthotic insoles market in the near future. The increasing prevalence of obesity is also expected to drive the demand for foot orthotic insoles in the near future as obese people tend to have a higher incidence of foot ulcers.

Besides these factors, technological advancements are also expected to bolster the demand for foot orthotic insoles over the next few years. This is because these advances allow manufacturers to develop more effective and comfortable products that are less bulky and easier to use.

A latest report published on food orthotic insoles by SkyQuest provides detailed understanding about market, key company profiles, market forecast, market analysis, competitive landscape, regional analysis, segmental analysis, and market share analysis, among others. This would help the players in the global foot orthotic insoles market to understand market competition, revenue growth potential, regional presence of players and their growth strategies, current dynamics, trends, and opportunities to tap.

Rising Prevalence of Obesity, Foot Ulcers, and Diabetes are Driving Demand for Foot Orthotic Insoles Market

As obesity rates continue to climb and people are living longer with diabetes, the demand for foot orthotic insoles is also on the rise. Foot orthotic insoles are prescription inserts that help support and protect the feet, typically by restoring function toćon areas of the foot that have been affected by arthritis, injury or other conditions.

In addition to their functional benefits, foot orthotic insoles market is gaining demand as the product can also help address the associated health problems caused by obesity and diabetes. For example, obesity can cause inflammation in the feet and lower ranges of blood sugar levels can lead to diabetic foot ulcers. The increased demand for foot orthotic inserts is likely due to these proven benefits as well as the fact that advocates feel that they can improve various aspects of a person’s overall health.

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SkyQuest’s statistics on foot orthotic insoles market shows that obesity rates are on the rise throughout the world, and this trend is especially pronounced in developed countries. In fact, according to the World Health Organization, one in every three people worldwide is overweight or obese. As per latest data published by WHO, more than 770 million people are obese around the globe, which were over 650 million in 2016. The number has increased by over 120 million in just 6 years. Moreover, over 39% of the people over 18 years were overweight and around 13% of them were obese and the number is expected to increase to 25% by 2030.

Similarly, foot ulcers are becoming increasingly common factors driving growth of the foot orthotic insoles market. According to the Centers for Disease Control and Prevention (CDC) and latest report by SkyQuest, over 1.7 million cases of foot ulcers were reported in 2021, a 50% increase from 2000. Diabetes is also on the rise, with estimates suggesting that over 23 million Americans have diabetes and that the rate of diabetes diagnoses is increasing yearly. Currently, more than 537 million people are living with diabetes and the number is projected to increase to 578 million. The study also finds that around 6.9% of the diabetic population develops foot ulcers. The combined prevalence of obesity, foot ulcers, and diabetes is prompting orthotic manufacturers to develop Foot Orthotic Insoles (FOIs) designed to alleviate symptoms associated with these conditions.

SkyQuest has published a report on foot orthotic insoles market, which provides a detailed market analysis, market forecast, current market dynamics, market share by companies, potential consumer base, consumer behavior, buying patterns, and factors affecting demand for foot orthotic insoles.

SkyQuest Found 58% Population Suffering from Foot Pain are Using Foot Orthotic Insoles and 77% are Willing to Buy them

Foot orthotics are designed to correct imbalances in the foot, which can result in decreased foot pain and improved circulation. In order to determine the demand for foot orthotics, SkyQuest conducted a survey on foot orthotic insoles market among 10,000 adults. Based on this data, it is evident that there is a high demand for foot orthotics. 89% of respondents said that they had experienced foot pain at some point in their lives, and 47% said they currently experience significant foot pain. Additionally, 77% of respondents said that they would be likely to purchase a foot orthotic if they found one affordable and convenient. Because of these high levels of demand, manufacturers of foot orthotics should continue to make their products more affordable and accessible to consumers.

The survey on the global foot orthotic insoles market found that nearly half of all respondents (58 percent) have used foot orthotics in the past six months, which is a 5 percent increase from last year. And, while it's still primarily a male-dominated market, there is growth among women as well, with 34% of female respondents reporting having used foot orthotics in the past six months.

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SkyQuest has done several other surveys on foot orthotic insoles market that reveals potential consumer base, their preferences for brand, number of people willing to buy them, and factors determining purchasing of foot orthotic insoles such as price, awareness, brands, and availability, among others. The report would help the market participant in identifying target consumers and formulating & designing products as per consumers’ need.

Top Players in Global Foot Orthotic Insoles Market

  • 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)

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