The global foot orthotic insoles market is anticipated to reach a value of USD 5.78 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.0%, as per a recent report by Grand View Research, Inc. This growth is primarily driven by the increasing prevalence of obesity and the aging population. Additionally, the growing demand for customized foot orthotic insoles is expected to create significant opportunities for the market during the forecast period. However, the high initial cost of purchasing orthotic insoles is deterring both healthcare providers and individuals from making these investments, which could limit demand. Furthermore, the limited awareness of foot orthotic insoles in emerging markets is expected to hinder their adoption.

The COVID-19 pandemic has had a detrimental effect on the foot orthotic insoles market, with many key players witnessing a decline in revenue from their orthotic business segments during the pandemic. Despite this setback, the industry saw a recovery in sales of foot orthotic insoles in 2021. For example, Hanger Inc. experienced a revenue drop in 2020 compared to 2019, but saw an increase in revenue in 2021. The market is projected to experience substantial growth over the forecast period.

In 2021, the thermoplastics segment accounted for the largest revenue share, exceeding 55.0%. This material is widely adopted for the production of foot orthotic insoles due to its ability to reduce plantar pressure effectively. As a result, it has become the preferred choice for manufacturers because of its superior benefits. Additionally, the rising use of foot orthotic insoles in sports and athletic activities has increased the demand for materials that provide excellent shock absorption, further boosting the thermoplastics segment's revenue in 2021.

North America captured the largest revenue share in 2021. This growth can be attributed to the high prevalence of diabetes, the increasing participation in sports activities, and significant technological advancements driven by substantial investments in research and development (RD). According to data from Milford Podiatry Associates, approximately 19% of the U.S. population experiences an average of 1.4 foot-related issues annually. The growing incidence of foot disorders, resulting from chronic health conditions and external injuries, is contributing to the regional market's expansion.

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Frequently Asked Questions (FAQ) about the Global Foot Orthotic Insoles Market

1. What is the current size of the global foot orthotic insoles market?

The market was valued at USD 3.36 billion in 2022 and is projected to reach USD 5.78 billion by 2030, growing at a CAGR of 7.0% from 2023 to 2030 .

2. What factors are driving the market's growth?

Key drivers include:

• Aging Population: An increasing number of elderly individuals requiring foot support.

• Rising Diabetes Incidence: Higher rates of diabetes leading to foot complications.

• Sports and Lifestyle Changes: Increased physical activity and awareness about foot health .

3. Which materials are most commonly used in foot orthotic insoles?

The primary materials include:

• Thermoplastic: Dominant in the market.

• Composite Carbon Fiber: Fastest-growing segment.

• Others: Such as EVA foam and gel-based materials 

4. Which regions are leading in the market?

North America holds the largest market share, accounting for 44.1% in 2020, due to high consumer awareness and healthcare infrastructure .

5. Who are the key players in the foot orthotic insoles market?

Notable companies include:

• Reckitt Benckiser Group PLC

• Hanger Inc.

• Ottobock SE Co. KGaA

• Össur hf

• Algeo Limited

• Bauerfeind AG

• Groupe Gorge

• Colfax Corporation

• Superfeet Worldwide Inc

• Materialise NV

• Blatchford Group Limited

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