North America Foot Orthotic Insoles Market revenue at US$ XX Mn in 2019 and is projected to grow at a CAGR of XX % from 2019 to 2027 to propel US$ XX Mn by 2026 during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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North America Foot Orthotic Insoles Market Dynamics
Foot orthotic insoles markets are proposed to support or correct the abnormal or unusual walking pattern. They change the angle at which the foot strikes while walking and therefore aid the limb or the torso to restore the adjustment and positioning of the foot.
Foot orthotic insoles are placed inside the shoes with the purpose to restore natural foot function, and also, they are used to overcome the malformation connected with the foot. The main driver of the foot orthotic insoles market is an increase in the prevalence of diabetes disorders and an increase in demand from sports applications. They provide comfort to the feet and give relief to arch, shin, knee, heel, and lower back pain.
Therefore, to avoid such problems and risks, a variety of shoe inserts are used. Technological advancement to provide innovative products is anticipated to open up new growth routes in the upcoming years. The Growing geriatric population, rapid urbanization, and associated lifestyle diseases, growing focus on improving quality of life, Innovations in production and modeling technologies of foot orthotic insoles are the major factors that boost the market growth. The high cost of foot orthotic insoles may reduce the growth of the market in the upcoming years.
Segment Analysis of North America Foot Orthotic Insoles Market
Foot orthotic insoles are segmented into the product, material, application, user age group, distribution channel, and region. Based on the product, the custom segment is composed to account for the leading share of the global market during the forecast period. The growth of the segment is attributed to significant funding from dare capitalists for these technologically advanced products and an increase in the use of customer-specific products having unique geometrical shapes by the urban population.
The prefabricated segment is projected to be driven by a rise in a number of incidence of fractures, accidents, bone degeneration diseases, and arthritis. On the basis of material, the ethyl vinyl acetates segment is likely to account for a significant share of the market by the end of the forecast period. The use of an EVA footed in insole manufacturing is becoming increasingly popular owing to its comfort and support properties. Also, the Polypropylene segment is expected to grow at the fastest rate during the forecast period.
By application, an increase in the incidence of medical disorders and surge in demand for improved quality of life among the significant patient population is attributed to the continued dominance of the segment. Based on the user age group, the adults' segment is projected to expand at the highest CAGR during the forecast period. This is attributed to the rising the prevalence of chronic diseases such as diabetes and arthritis among adults, an increase in the use of high-heeled sandals by adult women.
North America accounted for a prominent share of the global foot orthotic insoles market.
North America Foot Orthotic Insoles Market, Key Highlights:
• North America Foot Orthotic Insoles Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the North America Foot Orthotic Insoles Market
• North America Foot Orthotic Insoles Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• North America Foot Orthotic Insoles Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• North America Foot Orthotic Insoles Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the North America Foot Orthotic Insoles Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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North America Foot Orthotic Insoles Market, by Product
North America Foot Orthotic Insoles Market, by Material
• Polyethylene Foams
• Composite Carbon Fibres
• Ethyl-vinyl Acetates (EVAs)
North America Foot Orthotic Insoles Market, by Application
• Sports and Athletics
• Personal Comfort
North America Foot Orthotic Insoles Market, by User Age Group
North America Foot Orthotic Insoles Market, by Distribution Channel
• Drug Stores
• Hospitals and Specialty Clinics
• Online Stores
North America Foot Orthotic Insoles Market, by Geography
• North America
North America Foot Orthotic Insoles Market Key Player
• Bayer Group
• Superfeet Worldwide
• Ottobock SE & Co. KG
• A. Algeo Ltd.
• Hanger, Inc.
• Bauerfeind AG
• Birkenstock digital GmbH
• Foot Science International
• Create O & P
• Groupe Gorge
• Digital Orthotics Laboratories Australia
• Hange Prosthetics and Orthotics Inc.
• Spenco Medical Corporation
• Aetrex Worldwide, Inc
• Comfortfit Orthotic Labs Inc
• Dr. Scholl’s
• Sidas SAS
• Currex Gmbh
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