Advances in 3D printed offerings are driving developments in the orthopedic insole market FMI
The orthopedic insoles market shows a very impressive growth rate of over 10% CAGR for the period of the forecast period (2021-2031). The demand for orthopedic insoles has been increasingly driven by increasing patient awareness and treatment options for planar fasciitis, obesity and osteoporosis, particularly among female consumers. Innovative product launches are expected to play a key role in the long-term strategies of manufacturers in the industry.
“The global rise in obese and geriatric demographics is likely to encourage the adoption of orthopedic insoles. Innovations in offers based on biomaterials for low wear and high strength properties are seeing a sharp increase in demand. New offers with tailor-made, computer-aided and 3D bio-printed insoles are likely to gain in importance in the near future, ”says the FMI study.
Orthopedic Insoles Market – Leading Food Stands
- It is estimated that thermoplastic orthopedic insoles reflect faster growth due to superior comfort and durability properties.
- Sports-based applications will reflect higher adoption rates due to the higher fitness awareness of consumers.
- China and India have emerged as high potential markets due to a large consumer base and diabetic population.
- North America will lead the market due to R&D investments in athletics and sports applications.
Orthopedic Insoles Market – Growth Factors
- The widespread prevalence of geriatrics, obesity, diabetes and plantar fasciitis is driving the demand for orthopedic insoles.
- Technical advances in custom insoles using 3D printing technologies support growth in the industry.
- The availability of environmentally friendly products and improved reimbursement policies support sales prospects.
Orthopedic Insoles Market Restrictions
- Competition from other foot treatment options affects profitability and stifles market growth.
- The lack of awareness of orthopedic insoles in developing countries, especially in rural areas, limits growth prospects.
The global coronavirus pandemic has had a moderate impact on the market for orthopedic insoles. Lockdown restrictions and social distancing guidelines have resulted in elective medical procedures and consultations being postponed, reducing insole prescriptions. In addition, restrictions on industrial activity as well as international and domestic trade have disrupted supply chains due to the lack of adequate raw materials for manufacturers.
On the flip side, gradually easing lockdown restrictions by 2021 will help create important opportunities for recovery over the course of the year. Additionally, advances in 3D and bioprinting will support market developments that enable long-term growth.
Some of the leading manufacturers participating in the market for orthopedic insoles are Cascade Dafo Inc., Reckitt Benckiser Group plc, Stable Step LLC, Otto Bock SE & Co. KGaA, Mile High Orthotics Lab Inc., Birkenstock Digital GmbH, Bauerfeind aG, Steeper, Inc., Allied OSI Labs, A. Algeo Limited, Digitsole, Peacocks Medical Group, Superfeet Worldwide, Inc., and Aetrex Worldwide, Inc. among others.
Leading manufacturers in the orthopedic insole market are pushing for product innovation and go-to-market strategies, as well as merger and acquisition efforts to create long-term growth opportunities.
In March 2021, Create it REAl announced a collaboration with GEBioM to bring a disruptive product concept with digitization and 3D printing technologies for personalized insole production onto the market. In September 2020, Aetrex Worldwide Inc. launched what it claims to be the thinnest orthopedic insole with 3D printing, which targets shoes without removable insoles. In May 2020, Kingetics announced the development and testing of new technologies in orthopedic insoles for applications with mechanical walking systems for the treatment of musculoskeletal injuries.
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More about the report
FMIs provide in-depth insights into the Orthopedic Insoles Market. The market is divided into insole type (pre-fabricated and customized), base material type (polymer, plastic, rubber, carbon fiber and silicone), consumer orientation (men, women and children) and distribution channel (direct and indirect). in seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa).