In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Foot Orthotics Insoles market for 2018-2023.
Foot Orthotics Insoles provide cushioning and minor support in your shoes. Because the material is soft and deforms easily, they need to be changed every three to six months on average. They may function as shoe deodorizers, provide arch support, or offer targeted relief to the heel, midsole, or ball of the foot (metatarsus).
Shoe insoles can correct a variety of biomechanical foot problems (including pronation and supination) while helping stabilize and cushion vulnerable arches and midsoles. They are especially useful for athletes who are prone to overuse injury, have stability issues, or are experiencing foot, knee, hip, or lower back pain while on their feet.
Foot orthotic insoles are intended to support or correct the abnormal or irregular walking pattern. They change the angle at which the foot strikes while walking and therefore assist the limb or the torso to restore the alignment and positioning of the foot. These insoles amend the postural stability by enhancing the afferent somatosensory information available to the central nervous system and provide arch support and pain relief for a myriad of foot conditions including flat feet.
The USA average price of Foot Orthotics Insoles is in the decreasing trend, from 10.7 USD/Unit in 2013 to 9.8 USD/Unit in 2017. With the situation of global economy, prices will be in decreasing trend in the following five years.
The classification includes the Leather, Polypropylene, Others. Polypropylene was leading segment and it accounted for over 42.24% market share of total revenue generated in 2017. Polypropylene offers properties such as semi-rigidity, flexibility and durability over other materials. Thus, polypropylene is widely used to manufacture foot orthotics insoles. Leather is another key outlet of the foot orthotics market and it held 19.7% share of total market in 2017.
Some of the key applications in the foot orthotics insole market include sports, medical and others. Medical segment accounted for over 69.3% share of total sales generated in 2017. This growth is mainly due to increasing prevalence of diabetes coupled with rising awareness regarding foot complications. Sports segment is another leading segment of foot orthotic insole market and it accounted for over 25% share of total market in 2017. This growth is mainly attributed to growing demand for orthotic insoles in skating shoes, basketball shoes, and others.
The demand for the Foot Orthotic Insoles has seen a dramatic increase over the past few years due to the increasing prevalence of diseases such as diabetes, obesity, arthritis. According to the American Academy of Orthoptists and Prosthetic’s, out of 20.8 Million children and adults in the U.S., around 7% have diabetes. Diabetes is the leading cause of lower limb amputations, with over 50% of non-traumatic amputations due to diabetic complications. With growing incidence of diabetes, demand for foot orthotics insoles is expected to grow significantly. Similarly, obesity will be a key driving factor for orthotic industry, as rising incidence of obesity will lead to growth in orthopedic ailments and hence, the need for orthopedic support devices and solutions.
Over the next five years, LPI(LP Information) projects that Foot Orthotics Insoles will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Foot Orthotics Insoles market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
This report also splits the market by region:
Middle East and Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Dr. Scholl’s (Bayer)
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Foot Orthotics Insoles consumption (value and volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Foot Orthotics Insoles market by identifying its various subsegments.
Focuses on the key global Foot Orthotics Insoles manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Foot Orthotics Insoles with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Foot Orthotics Insoles submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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