Foot Orthotic Insoles Market Size, Share, Trends, Growth and Forecast 2030

Foot Orthotic Insoles Industry Prospective:

The global foot orthotic insoles market size was worth around USD 3889.92 million in 2022 and is predicted to grow to around USD 6162.58 million by 2030 with a compound annual growth rate (CAGR) of roughly 5.94% between 2023 and 2030.

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Foot Orthotic Insoles Market: Overview

Foot orthotic insoles are also simply known as orthotics. They are specially designed shoe inserts that help provide support for any abnormal movement of feet. Orthotics are made of different types of materials and are available in several quality variants. It means that not all orthotics are the same and hence buyers must invest sufficient time in determining the right orthotics for their requirements. The main intention of using foot orthotic insoles is to provide cushioning and comfort to the feet. Additionally, they are also used to promote proper foot movement and alignment. Orthotics are prescribed-based medical devices and should be worn inside shoes to relieve pain or correct any form of foot problems. They are removable and most customized depending on patient needs. The industry for foot orthotic insoles is growing at a rapid rate due to increasing consumers along with several developments to improve device performance. During the forecast period, the players operating in the orthotics industry will have access to high-growth opportunities but may also have to deal with specific challenges.

Key Insights:

• As per the analysis shared by our research analyst, the global foot orthotic insoles market is estimated to grow annually at a CAGR of around 5.94% over the forecast period (2023-2030)
• In terms of revenue, the global foot orthotic insoles market size was valued at around USD 3889.92 million in 2022 and is projected to reach USD 6162.58 million, by 2030.
• The foot orthotic insoles market is projected to grow at a significant rate due to the increasing application in the sports industry
• Based on type segmentation, custom-made was predicted to show maximum market share in the year 2022
• Based on material segmentation, thermoplastic was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Foot Orthotic Insoles Market: Growth Drivers

Increasing application in the sports industry to drive market growth

The global foot orthotic insoles market is expected to grow owing to the increasing application of advanced and superior-performance orthotics in the growing sports industry. These devices are used by players across the board and segment including football, soccer, basketball, and tennis. On the professional front, sports team managers, coaches, and athletes are investing more in ensuring that players remain injury-free. Professional sports is a multi-billion dollar industry and top players in all fields have a lot of money invested in them. In addition to this, there is a surge in the number of players playing several sports at school, college, and university levels. Rising awareness about the benefits of sports participation and lucrative opportunities in professional sports are the main driving factors resulting in higher demand for customized foot orthotic insoles.

Growing elderly population with foot-related medical concerns to cause higher consumption

The growing geriatric population is expected to propel the demand for foot orthotic insoles. Several foot-related medical conditions can be treated or managed using efficient insoles. Some of these conditions progress with age and can diminish the quality of life. Studies indicate that nearly one-third of the elderly population suffers from aching feet, foot pain, and stiffness. Most of these conditions are caused due to poor shoe fitting. The pain can be relieved using customized orthotics. As per official statistics, the current geriatric population stands at 771 million over the age of 65 years.

Higher number of patients with arthritis may lead to market growth

Arthritis is a common medical condition that causes tenderness and swelling in one or more joints. As per the World Health Organization (WHO), more than 528 million globally were affected by arthritis in 2019. The number of patients is growing annually caused by several factors. This creates a significant expansion window for the players in the food orthotic insoles industry.

Foot Orthotic Insoles Market: Restraints

Lack of awareness among potential consumers to restrict market growth

The global foot orthotic insoles market growth will be limited owing to the lack of awareness among consumers about the product's existence and its advantages. In addition to this, a large part of the population tends to ignore food-related issues as they deem it non-significant until the pain or associated issues become unbearable. There are several other alternatives to resolve a variety of foot-related issues including food exercise, therapy, surgery, and managing weight or lifestyle. Since most of the alternatives are more well-known than foot orthotic insoles, the market penetration for other methods remains higher.

Foot Orthotic Insoles Market: Opportunities

Increasing product innovation for improved insole performance could create growth opportunities

With the growing demand from end-consumers, food orthotic insoles manufacturers are investing heavily in product innovation and performance improvement. For example, in 2017, Upstep, a startup in the orthotics industry, announced that it was modernizing its offerings within 1 year of the company's launch. The new modernized protocol allows Upstep to ensure customer satisfaction. The company sends a footprint kit to the customers and then uses 3D printing technology to print insoles that are specific to customer requirements. In June 2021, technology giant HP Inc. entered the industry by announcing the launch of Arize Orthotic Solution. It is a digital platform to help consumers gain access to custom and high-quality orthoses and is expected to be beneficial to patients as well as podiatrists or orthotics.

Foot Orthotic Insoles Market: Challenges

High cost of orthotics to challenge market growth

The global foot orthotic insoles market growth is likely to be challenged by the high cost of orthotics. 100% customized food orthotic insoles can range between USD 300 to USD 800 while semi-customized options can cost between USD 60 to USD 300. The associated costs make it unaffordable for a large population segment, especially for people in low-income nations. Moreover, some of the brands available in the commercial market may be exaggerating claims and the product may not be completely effective leading to doubts and consumer dissatisfaction.

Foot Orthotic Insoles Market: Segmentation

The global foot orthotic insoles market is segmented based on type, distribution channel, material, and region.

Based on type, the global market segments are custom-made and prefabricated. In 2022, the highest growth was observed in the custom-made segment with a total market share of 54.5%, and is expected to grow at a CAGR of 7% during the forecast period. The segmental growth is a result of high demand for customized solutions. Foot orthotic insoles are witnessing a demand since most product manufacturers provide customized solutions. Every patient's medical needs may be different and prefabricated insoles may not serve the purpose. However, the latter variant is less expensive and still has a significant hold in the industry.

Based on distribution channel, the foot orthotic insoles industry  divisions are hospitals & clinics, drug stores, and others.

Based on material, the global market segments are composite carbon fiber, thermoplastic, and others. In 2022, the thermoplastic segment accounted for 56.2% of the total revenue and is expected to grow at a CAGR of 6.92%. The material offers superior comfort and is extremely durable. Although the elderly population may not find rigid thermoplastics extremely helpful, they tend to get higher comfort from semi-rigid thermoplastic material. The composite carbon fiber segment may deliver a CAGR of 7.41% by 2030.

Foot Orthotic Insoles Market: Report Scope

Foot Orthotic Insoles Market: Regional Analysis

North America to account for the largest market share

The global foot orthotic insoles market is anticipated to be led by North America during the forecast period. In 2022, more than 44.15% of the global revenue was generated by North America mainly driven by high demand in the thriving sports industry. The growing number of students playing several sports along with a higher rate of exercising in the form of running or jogging has created a significant consumer base of orthotics in North America. The region is home to several players offering customized solutions and high per capita spending capacity allows them to invest in essential medical tools. The US also has a large population of people suffering from foot conditions caused by medical conditions. For instance, around 11.3% of the American population is diabetic as per the Centers for Disease Control and Prevention. Asia-Pacific is expected to grow at a CAGR of 7.85% primarily due to the presence of a large potential consumer base. Additionally, Asian countries are witnessing a rising geriatric population along with patients with musculoskeletal disorders.

Foot Orthotic Insoles Market: Competitive Analysis

The global foot orthotic insoles market is led by players like:

• Dr. Scholl's
• Superfeet
• Aetrex
• Powerstep
• New Balance
• Spenco
• Tread Labs
• SOLE
• Samurai Insoles
• Birkenstock
• Pedag
• Vionic
• WalkFit Platinum
• Protalus
• Wiivv

The global foot orthotic insoles market is segmented as follows:

By Type

• Custom-made
• Prefabricated

By Distribution Channel

• Hospitals & Clinics
• Drug Stores
• Others

By Material

• Composite Carbon Fiber
• Thermoplastic
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa