Market Challenges of Foot Orthotic Insoles Market, 2015-2020
Foot orthotic insoles are employed to correct the abnormalities associated with the foot. Foot orthotic insoles work by altering the biomechanics of the foot. The rise in geriatric population over the globe and also lifestyle diseases such obesity, diabetes are the driving factors in this market. The market can be broadly classified into prefabricated and custom foot insoles. Custom Foot Insoles or bespoke foot insoles are prescribed by Podiatrist, Orthotist, Pedorthist, Orthopedist, Chiropractor, or any other health professional with a background in biomechanics, in order to stabilize and correct biomechanical misalignment of the feet and lower limbs. They offer comfortable and functional insole to the customer that improves foot function by accommodating and controlling excessive motion during gait.
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The foot orthotic insoles are set to grow at a fast pace, particularly in the APAC region, owing to rise in prevalence of chronic diseases, disposable income as well as increasing awareness about foot orthotic insoles. The Americas and Europe regions are comparatively mature and have an established customer base owing to the rising awareness towards personal healthcare and technological advancements. The market is currently dominated by North America which accounted for about half of the global share. APAC is a promising market and is opening gateways for new manufacturers.
Foot Orthotic Insoles Market – Market Forces
- Rapidly Aging Population To Increase Demand For Foot Orthotic Insole Devices
- Growing Incidence of Chronic Diseases To Drive The Growth of Orthotics Market
- Rapid Urbanization and Associated Lifestyle Diseases Drive The Demand For Foot Orthotic Inserts
- Disabilities To Spur The Adoption of Foot Orthotic Insoles
- Increased Focus On Improving Quality of Life
- Innovations In Production and Modelling Technologies
- Rise In Sports Injuries To Drive The Sales of Foot Orthotic Insoles
- High Cost of Custom-Made Foot Orthotic Insole Devices
- Healthcare Budget Constraints To Challenge The Growth of Orthotic Device Market
- Poor Healthcare Reimbursement and Payment Models To Hamper The Adoption of Orthotics
- Consolidation of Market Leaders To Create Significant Growth Challenge For Smaller Companies
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Foot Orthotic Insoles Market – Strategic Analysis
- Supply Chain Analysis
- Pricing Analysis
Foot Orthotic Insoles Market Classification – By End User
- Sports – Running, Court
- Medical – Diabetes , Rheumatoid Arthritis, Plantar Fasciitis, Obesity, Metatarsalgia and Others
Foot Orthotic Insoles Market Classification – By Type of Material
- EVA Foam
- Polypropylene Thermoplastic
Orthotic Devices – Government Regulations
- North America
- Rest of the World
Foot Orthotic Insoles – Geographical Analysis
- Asia – Pacific
- Rest of World
Some of the key players In the global Foot Orthotic Insoles market:
Superfeet and Bayer AG (Dr Scholl’s)
Hange Prosthetics & Orthotics Inc
Superfeet Worldwide Inc
Ottobock Holding GmbH.
They continue to hold the majority share in the market as they are investing in R&D and constantly improving their distribution network.
The market for foot orthotic insoles is classified into two categories based on method of manufacturing and end user and each of these segments are further broken down into sub-segments to give a comprehensive analysis of global foot orthotic insoles market.
The overall market has also been presented from the perspective of different geographic locations and key economies in this market. Competitors are highlighted and market players are profiled with attributes covering company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the each of the prominent players for 2014 are detailed.
The report also provides a detailed qualitative analysis of the factors responsible for driving and hindering the growth of the foot orthotic insoles market and future opportunities that can propel the market.
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