[FURL=https://www.industryarc.com/Report/7488/foot-orthotic-insoles-market.html]Foot Orthotic Insoles Market[/FURL] size is estimated to reach $3,877m in 2025, growing at a CAGR of 2.9% during the forecast period 2020-2025. Growing demand for Foot Orthotic Insoles is mainly driven by rising chronic foot diseases, enhanced awareness among people to treat these disorders, increased healthcare spending, and growth in sports activities. The foot orthotic insoles caters to the people who are subject to diseases such as diabetes, plantar fasciitis, rheumatoid arthritis, foot deformities and other chronic diseases as well as injuries. It also serves the need of sports community such as athletes, football players and basketball players. Foot orthotic insoles are intended to support or correct the abnormal or irregular walking pattern. Key Takeaways
North America dominated the Foot Orthotic Insoles Market with a share of 40.47% in the year 2019.
The factors such as rising chronic foot diseases, enhanced awareness among people to treat these disorders and growth in sports activities are amongst the major factor projected to impel growth of Foot Orthotic Insoles Market.
Increase in innovations of production and modeling technologies coupled with the high investment in R&D from top companies are the key factors owing to the growth in the segment during forecast period 2020-2025.
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Foot Orthotic Insoles Market Segment Analysis - By Geography
North America is the major region dominated the Foot Orthotic Insoles Market with revenue share of 40.47% in 2019. This is owing to a well-established customer base owing to the rising awareness towards personal healthcare and technological advancements. Along with this the high incidence of diseases here also contributes to the dominance of this region owing to the increased demand of orthotics for these medical conditions.
However, Asia Pacific region is projected to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to rise in prevalence of chronic diseases, disposable income as well as increasing awareness about foot orthotic insoles.
Foot Orthotic Insoles Market Drivers
Rapid Urbanization And Associated Lifestyle Diseases:
Foot Orthotic Insoles Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Foot Orthotic Insoles Market. In 2019, Foot Orthotic Insoles Market share is fragmented by the top ten players present in the market. Foot Orthotic Insoles Market top 10 companies are Hanger Inc., Ottobock Holding GMBH &Co. KG, Superfeet Worldwide Inc., Bayer AG, Bauerfeind AG, Aetrex Worldwide Inc., Comfortfit Orthotic Labs Inc., RSL Steeper, Colfax Corporation(DJO), Spenco Medical Corporation and others.
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