Foot Orthotic Insoles Market Size, Share, Growth Analysis, By Type(Prefabricated, Customized), By Applications(Medical, Sport & Athletics, Personal), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35F2003 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 62 |Figures: 75

Foot Orthotic Insoles Market Insights

Foot Orthotic Insoles Market size was valued at USD 3.2 billion in 2019 and is poised to grow from USD 3.4 billion in 2023 to USD 5.95 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

Medical devices called foot orthotic insoles are recommended by doctors to alleviate and relieve foot discomfort. The market for foot orthotic insoles has grown as a result of the rising incidence of chronic diseases including diabetes, which can cause diabetic foot ulcers, and other foot maladies. The lockdown, however, had an adverse effect on the market owing to the COVID-19 pandemic, as retail outlets saw a disturbance in their sales and there was a decrease in the number of patients visiting healthcare providers. Significant technical developments in the orthotics industry and solid clinical research demonstrating the effectiveness of insoles in treating a variety of disorders are favourable to market expansion. For instance, in 2019 Talita Cumi Ltd. and Aetrex Worldwide Inc. began a comparative clinical trial to examine whether using indoor comfort sandals with built-in arch support in addition to prefabricated orthotics in shoes will help treat plantar fasciitis more effectively than using only those devices alone. Additionally anticipated to fuel market expansion throughout the projection period are such research projects.

During the pandemic in FY 2020, most market participants saw a decline in the revenues of their orthotic business sectors. However, during the FY 2021, the market saw a jump in the sales of foot orthotic insoles. For instance, Hanger Inc., a crucial firm, had a decrease in sales in its patient care and product & services business sectors during FY 2020 compared to the same time in 2019. However, the company's product & services and patient care businesses had increases in sales of 4.5 percent and 13.4 percent, respectively, in FY 2021. Similar to this, the company's bracing and support division saw an increase in revenues during FY 2021 compared to the same period in 2019.

US Foot Orthotic Insoles Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 3.2 billion

Largest Segment

Prefabricated

Fastest Growth

Customised

Growth Rate

6.4% CAGR

Global Foot Orthotic Insoles Market , 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Foot Orthotic Insoles Market Segmental Analysis

The Foot Orthotic Insoles Market is segmented based on the type, application, and region. Based on the type, the foot orthotic insoles market is segmented as prefabricated, customized. Based on the application, the Foot Orthotic Insoles Market is segmented into medical, sport & athletics, personal. Based on region, Foot Orthotic Insoles Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Foot Orthotic Insoles Market Analysis by Type

The global foot orthotic insoles market is be divided into prefabricated and customised segments based on type. In 2021, the sector that was specifically tailored had the most market share. The sector was dominant because more patients were choosing bespoke foot orthotic insoles since they met their comfort needs. Additionally, to aid with improved therapeutic outcomes, the majority of orthotists also prescribe personalised foot insoles. Technology developments like 3D foot scanners and moulding clay have made it simpler for producers to give clients with personalised foot insoles, thereby foreseeing the segment's expansion. However, it is predicted that the prefabricated category would see a somewhat lower CAGR throughout the projection period. Additionally, a growth in the senior population and increased consumer knowledge of the product's advantages contributed to an increase in the foot orthotic insoles market share relative to the total orthotics market. The segment's growth is projected to be aided by the rise in the prevalence of plantar fasciitis and rheumatoid arthritis.

Foot Orthotic Insoles Market Analysis by Application

The market is divided into three categories: medical, sports & athletics, and personal. The biggest share of this section belongs to the medical sector. The effectiveness of foot orthotic insoles in relieving pain in a variety of illnesses and disorders is the fundamental reason for the significant share of the medical segment, according to a growing body of clinical data. For instance, according to the Rehabilitation paper from the Archives of Physical Medicine Journal, prescribed shoe orthotics considerably reduced back pain and dysfunction. Numerous research proving the value of foot orthotic insoles are anticipated to support their use in healthcare. The second-largest shareholder, the sports and athletics section, is anticipated to expand with a strong CAGR throughout the projection period. The market is anticipated to develop as shock-absorbing foot insoles are increasingly used to avoid injuries during sports and other physical activities. People are now more aware of the benefits of leading active lives that include sports, walking, and running. It is simple to install foot insoles purchased over the counter to shoes. Additionally, a lot of manufacturers provide footwear options with fixed foot orthotic insoles. The need for foot orthotics in athletics and sports is expected to rise as a result. The adoption of a healthy lifestyle by people is anticipated to boost the personal segment. The growing availability of foot insoles for formal and fashionable attire may possibly be contributing to the expansion of this market.

Global Foot Orthotic Insoles Market By Type, 2021(%)

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Foot Orthotic Insoles Market Regional Insights

The global foot orthotic insoles market is divided into four regions based on geography: North America, Europe, Asia Pacific, and the rest of the world. North America's market, which had a 2021 value of USD 1.47 billion, is anticipated to hold a significant portion of the worldwide market over the projection period. Due to the quick adoption of 3D printers for producing personalised orthotic insoles, North America controls the majority of the worldwide market. The market in this region is expanding as a result of the rise in podiatric operations as well as the number of podiatrists and orthotists. The second-largest market is anticipated to be in Europe. Favorable reimbursement regulations and increased government initiatives to raise public awareness are to blame for the surge. For instance, according to a cross-sectional analysis of orthotic services published in the BMJ Open journal, the United Kingdom spent over USD 36.2 million on orthotic devices between 2015 and 2016. Increased spending on orthotic services and goods is therefore anticipated to benefit the European market. Due to an increase in the number of elderly people, the Asia Pacific market is anticipated to expand significantly during the projected period. It is a significant factor in the adoption of these insoles. Comparatively speaking, the remainder of the globe has a smaller market share. However, development is anticipated as a result of reduced healthcare costs and increased awareness among residents of emerging nations in these areas.

Global Foot Orthotic Insoles Market By Geography, 2021 - 2028
  • Largest
  • Fastest

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Foot Orthotic Insoles Market Dynamics

Foot Orthotic Insoles Market Driver

Increasing Prevalence of Chronic Foot Conditions and Favorable Reimbursement Policies Driving Market Growth

  • More than 30.0% of the general population is said to experience foot discomfort. Numerous medical disorders, including arthritis, plantar fasciitis, bursitis, and diabetic foot ulcers, can contribute to this pain. So, doctors recommend foot orthotic insoles to cure these disorders. According to NCBI, there will be between 9.1 and 26.1 million diabetic foot ulcers worldwide in 2021. Additionally, it is predicted that 20 to 25 percent of those with diabetes mellitus may develop a diabetic foot ulcer. Since the growing prevalence of diabetes reached an epidemic level, the volume and incidence of diabetic foot ulcers are quickly rising globally. Therefore, the aforementioned elements are significant market growth drivers on a global scale.

Foot Orthotic Insoles Market Restraint

High Prices for Custom Insoles and Low Market Penetration in Emerging Nations to Limit Market Growth

  • Despite a significant need for efficient orthotic insoles, one of the most significant challenges preventing this market's expansion is the low level of product penetration in growing markets. Due to a lack of finance and service capacity, the demand for these insoles in lower-middle-income nations is constrained, which prevents their expansion. The main demand and supply factors that have made it difficult for users to reach and sustain this market in lower-middle-income nations are listed below. Additionally, LMIC clinical practitioners lack sufficient product alternatives to satisfy client expectations. They forbid players in the local market from placing flexible orders, which, as can be seen, is due to a poor supply channel. One of the main factors hindering the market's expansion is the high price of bespoke orthotic insoles. For example, Podiatry Today reports that the usual price of prescription custom foot orthotics purchased from a doctor is from USD 400 to USD 600. From one doctor to the next, the total cost of therapy varies. Most podiatrists give a pricing for a full treatment plan rather than a specific cost. The primary causes described above are to blame for this market's modest growth, which in turn, to some extent, restrains the market's total expansion.

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Foot Orthotic Insoles Market Competitive Landscape

The foot orthotic insoles market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability.

Top Players in the Global Foot Orthotic Insoles Market

  • Bauerfeind AG
  • Superfeet Worldwide, Inc.
  • Aetrex Worldwide, Inc.
  • Hanger, Inc.
  • Otto Bock HealthCare GmbH
  • ComfortFit Orthotic Labs Inc.
  • Footbalance System Ltd.
  • Birkenstock Orthopädie GmbH & Co. KG
  • Sidas SAS
  • Powerstep LLC
  • SOLO Laboratories, Inc.
  • Foot Levelers, Inc.
  • Spenco Medical Corporation
  • Cambion, Inc.
  • Algeo Limited
  • Nagata Corporation
  • Implus LLC
  • Wiivv Wearables Inc.
  • Amfit Inc.
  • MyFootShop.com

Foot Orthotic Insoles Market Recent Developments

In Feb 2022, A new iPhone scanning function was introduced by Digital Orthotics Laboratories Australia Pty Ltd. Using an iPhone, the consumer may scan, recommend, and purchase orthotics.

In Nov 2021, Propel and Propel + Carbon insoles were introduced by Spenco, a division of Implus Footcare LLC, to upgrade running shoes with the most recent in running technology.

Foot Orthotic Insoles Key Market Trends

Increasing Strategic Initiatives by Prominent Players to Accelerate Growth

  • The market has seen a lot of strategic market changes throughout the years. The need for treatment devices is anticipated to grow as the frequency of foot conditions and the number of patients with these conditions rise. Due to this, the major companies have increased their portfolios and used mergers and acquisitions to grow their businesses. These tactics will assist the businesses in obtaining cutting-edge technology like high-frequency and shock-absorbing materials. Additionally, the industry is gradually shifting toward offering its clients specialised support depending on their issues and assisting them in improving their quality of life. For instance, Thuasne announced in January 2021 that it had successfully acquired the Therafirm branch of the American maker of textiles for the medical market, Knit-Rite. The company's entry into a new market for orthopaedic prosthesis medical equipment would be aided by the purchase. It is projected that these developments will have a significant impact on the market's growth prospects throughout the forecast period.

Foot Orthotic Insoles Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our foot orthotic insoles market analysis, research report offers a thorough overview of the industry and focuses on important factors including the top players, sources, products, and applications. The research also identifies significant advancements in the industry and provides insights into market trends and the competitive environment. The study includes a number of aspects, in addition to those already mentioned, that have assisted in the market's expansion in recent years.

Report Metric Details
Market size value in 2019 USD 3.2 billion
Market size value in 2031 USD 5.95 billion
Growth Rate 6.4%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Prefabricated, Customized
  • Applications
    • Medical, Sport & Athletics, Personal
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Bauerfeind AG
  • Superfeet Worldwide, Inc.
  • Aetrex Worldwide, Inc.
  • Hanger, Inc.
  • Otto Bock HealthCare GmbH
  • ComfortFit Orthotic Labs Inc.
  • Footbalance System Ltd.
  • Birkenstock Orthopädie GmbH & Co. KG
  • Sidas SAS
  • Powerstep LLC
  • SOLO Laboratories, Inc.
  • Foot Levelers, Inc.
  • Spenco Medical Corporation
  • Cambion, Inc.
  • Algeo Limited
  • Nagata Corporation
  • Implus LLC
  • Wiivv Wearables Inc.
  • Amfit Inc.
  • MyFootShop.com
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Foot Orthotic Insoles Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Foot Orthotic Insoles Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Foot Orthotic Insoles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Foot Orthotic Insoles Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Foot Orthotic Insoles Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Foot Orthotic Insoles Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Foot Orthotic Insoles Market size was valued at USD 3.2 billion in 2019 and is poised to grow from USD 3.4 billion in 2023 to USD 5.95 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

The foot orthotic insoles market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability. 'Bauerfeind AG', 'Superfeet Worldwide, Inc.', 'Aetrex Worldwide, Inc.', 'Hanger, Inc.', 'Otto Bock HealthCare GmbH', 'ComfortFit Orthotic Labs Inc.', 'Footbalance System Ltd.', 'Birkenstock Orthopädie GmbH & Co. KG', 'Sidas SAS', 'Powerstep LLC', 'SOLO Laboratories, Inc.', 'Foot Levelers, Inc.', 'Spenco Medical Corporation', 'Cambion, Inc.', 'Algeo Limited', 'Nagata Corporation', 'Implus LLC', 'Wiivv Wearables Inc.', 'Amfit Inc.', 'MyFootShop.com'

More than 30.0% of the general population is said to experience foot discomfort. Numerous medical disorders, including arthritis, plantar fasciitis, bursitis, and diabetic foot ulcers, can contribute to this pain. So, doctors recommend foot orthotic insoles to cure these disorders. According to NCBI, there will be between 9.1 and 26.1 million diabetic foot ulcers worldwide in 2021. Additionally, it is predicted that 20 to 25 percent of those with diabetes mellitus may develop a diabetic foot ulcer. Since the growing prevalence of diabetes reached an epidemic level, the volume and incidence of diabetic foot ulcers are quickly rising globally. Therefore, the aforementioned elements are significant market growth drivers on a global scale.

The market has seen a lot of strategic market changes throughout the years. The need for treatment devices is anticipated to grow as the frequency of foot conditions and the number of patients with these conditions rise. Due to this, the major companies have increased their portfolios and used mergers and acquisitions to grow their businesses. These tactics will assist the businesses in obtaining cutting-edge technology like high-frequency and shock-absorbing materials. Additionally, the industry is gradually shifting toward offering its clients specialised support depending on their issues and assisting them in improving their quality of life. For instance, Thuasne announced in January 2021 that it had successfully acquired the Therafirm branch of the American maker of textiles for the medical market, Knit-Rite. The company's entry into a new market for orthopaedic prosthesis medical equipment would be aided by the purchase. It is projected that these developments will have a significant impact on the market's growth prospects throughout the forecast period.

The global foot orthotic insoles market is divided into four regions based on geography: North America, Europe, Asia Pacific, and the rest of the world. North America's market, which had a 2021 value of USD 1.47 billion, is anticipated to hold a significant portion of the worldwide market over the projection period. Due to the quick adoption of 3D printers for producing personalised orthotic insoles, North America controls the majority of the worldwide market. The market in this region is expanding as a result of the rise in podiatric operations as well as the number of podiatrists and orthotists. The second-largest market is anticipated to be in Europe. Favorable reimbursement regulations and increased government initiatives to raise public awareness are to blame for the surge. For instance, according to a cross-sectional analysis of orthotic services published in the BMJ Open journal, the United Kingdom spent over USD 36.2 million on orthotic devices between 2015 and 2016. Increased spending on orthotic services and goods is therefore anticipated to benefit the European market. Due to an increase in the number of elderly people, the Asia Pacific market is anticipated to expand significantly during the projected period. It is a significant factor in the adoption of these insoles. Comparatively speaking, the remainder of the globe has a smaller market share. However, development is anticipated as a result of reduced healthcare costs and increased awareness among residents of emerging nations in these areas.

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