Foot Orthotic Insoles Market Expected to Reach $5.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Foot Orthotic Insoles Market," The foot orthotic insoles market size was valued at $3.2 billion in 2021, and is estimated to reach $5.7 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031. 

Foot orthotic insoles are scientifically designed, padded, and molded shoes. It is worn inside the shoes to improve mobility, comfort, and health. Foot orthotic insoles are a type of medical device that is specially designed to reduce pain and treat foot deformities. Moreover, they reduce exhaustion in the feet and legs as well as pain in the knees, hips, and back. Orthotic inserts are helpful, owing to cushioning the feet and providing shock absorption and spreading the pressure equally around the feet, and making sure that they hit the ground at the right angle.

Excess weight worsens the effects of excess pronation and its related pains. Proper alignment and support are crucial for those carrying additional weight, which creates an additional force on the feet, ankles, knees, and back.  The rise in the prevalence of obesity boosts the growth of the foot orthotic insoles market size. For instance, the Centers for Disease Control and Prevention (CDC), estimates that 42.4% of Americans 20 years old and older had obesity from 2019 to 2020.

Growth of the foot orthotic insoles market share is majorly driven by a rise in the number of foot deformities such as a bunion or hammer toe, fused toes (tarsal coalition), club foot, flat feet, mallet toes, and various other foot conditions. The muscles and ligaments in the foot become weaker with an increase in age, as do the bones due to calcium reduction. In addition, the fatty padding under the foot thins out, which means less protection and cushioning for the bones, in particular the heel bone. Fallen arches combined with thinning fat tissue are a recipe for foot problems. Heel spurs are the most common foot complaints for those over 50. The rise in the prevalence of the geriatric population leads to a surge in demand for foot orthotic insoles and drives the growth of the foot orthotic insoles market share. For instance, according to the United Nations Department of Economic and Social Affairs, in 2020 there were an estimated 727 million people aged 65 years or above across the world.

On the basis of material, the ethyl-vinyl acetate (EVA) segment is expected to witness the highest CAGR during the forecast period, owing to the high adoption of ethyl-vinyl acetate for the manufacturing of foot orthotic insoles and the increase in the prevalence of foot deformities and foot pain. In addition, the rise in the geriatric population that is vulnerable to rheumatoid arthritis has propelled the growth of the ethyl-vinyl acetate segment. A few EVA-based product examples include Foot Science International offers Express Blue, and Express Red (foot orthotic insoles of EVA). Express Blue, and Express Red feature a deep heel cup for added stability and a supportive arch profile to improve comfort and foot posture. Ethyl-vinyl acetate (EVA) has witnessed growth, owing to the rise in the prevalence of arthritis, and foot pain.

On the basis of application, the personal comfort segment is expected to witness the highest CAGR during the forecast period. This is due to the varied benefits offered by foot orthotic insoles. The foot orthotic insoles improve foot movement patterns and help in reinforcing proper movement of the lower body as well, therefore, foot orthotics provide healthy movement and comfort. The foot orthotic insoles help in supporting proper foot movement, but also redistribute pressure in the bottom of the feet. This is done in a manner that keeps any excess stress off the painful regions. Therefore, the rise in the prevalence of foot pain and foot problem boosts the growth of the foot orthotic insoles market For instance, according to Orthopedic Associates, over 2 million Americans seek treatment for plantar fasciitis (heel pain) each year. In addition, foot orthotic insoles are the easiest solution for providing support to flat arches all through the day, especially when compared to other costlier options, which in turn increases the demand for foot orthotic insoles. Hence, such factors propel the growth of the foot orthotic insoles market.

On the basis of distribution channels, the online store segment is expected to witness the highest CAGR during the forecast period, owing to various advantages such as convenience, fewer expenses, easy access to patient reviews, and price comparisons.

On the basis of region, the Asia-Pacific is expected to witness the highest CAGR during the foot orthotic insoles market forecast period, owing to an increase in populations, a surge in healthcare expenditure, and an increase in awareness related to the use of foot orthotic insoles to reduce pain and treat foot deformities.

KEY FINDINGS OF THE STUDY

• On the basis of material, the ethyl-vinyl acetate segment held the largest share in the foot orthotic insoles industry in 2021.
• On the basis of application, the medical segment held the largest share of the foot orthotic insoles industry in 2021.
• On the basis of the distribution channels, the retail store's segment held the largest market share in 2021.
• The study provides an in-depth foot orthotic insoles market analysis of the along with the current foot orthotic insoles market trends and future estimations to explain the imminent investment pockets.
• On the basis of region, North America held the largest market share in 2021.