Foot Orthotic Insoles Market Set to Expand Due to Rising Prevalence of Diabetes, Expected to Reach $4.72 Billion by 2027

The Business Research Company’s Foot Orthotic Insoles Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, November 1, 2023 /EINPresswire.com/ — The global foot orthotic insoles market is on an upward trajectory, anticipated to grow from $3.29 billion in 2022 to $3.55 billion in 2023, showcasing a Compound Annual Growth Rate (CAGR) of 8.0%. Despite the challenging global economic landscape due to the Russia-Ukraine conflict and the lingering impact of the COVID-19 pandemic, the market is projected to reach $4.72 billion by 2027, maintaining a steady CAGR of 7.4%.

Impact of Rising Diabetes Prevalence on Market Growth

The burgeoning prevalence of diabetes is a significant driver propelling the growth of the foot orthotic insoles market. With diabetes being a chronic metabolic condition characterized by elevated blood glucose levels, it can potentially lead to severe damage to various bodily systems, including the heart, blood vessels, eyes, kidneys, and nerves. Foot orthotic insoles are essential in the treatment of diabetic feet that have experienced conditions such as charcot arthropathy and foot ulcers. Notably, the IDF Diabetes Atlas published by the International Diabetes Federation (IDF) in 2021 indicated that globally, around 537 million adults (20–79 years old) had diabetes, with projections estimating this number to increase to 643 million by 2030 and 783 million by 2045. Consequently, the rising prevalence of diabetes is a key factor driving the growth of the foot orthotic insoles market.

For a Comprehensive Analysis of the Global Foot Orthotic Insoles Market, Refer to the sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9386&type=smp

Market Segments:

1. By Type: Prefabricated, Customized
2. By Material: Thermoplastics, Polyethylene Foams, Leather, Cork, Composite Carbon Fibers, Ethylene-vinyl Acetate, Gel, Other Materials
3. By Application: Medical, Sports And Athletics, Personal
4. By Distribution Channel: Drug Stores, Hospitals And Specialty Clinics, Online Stores, Other Distribution Channels

Product Innovation Drives Market Growth

Prominent industry players such as New Balance and Remington Products Company are actively contributing to product innovations within the foot orthotic insoles market. New Balance’s introduction of casual therapeutic cushion insoles, shaped by Superfeet, stands out with its unique design incorporating extra-soft foam that conforms to sensitive feet, offering relief and support during movement. Meanwhile, Remington Products Company’s acquisition of the Foot Petals brand from RG Barry Corp is expected to leverage its manufacturing capabilities, network, and resources to enhance operations and bolster the brand’s offerings.

North America Leads, Asia-Pacific Emerges as a Promising Region

In 2022, North America dominated the foot orthotic insoles market, while the Asia-Pacific region is positioned to register the fastest growth during the forecast period, presenting substantial opportunities for the global foot orthotic insoles market.

For an In-Depth Analysis of the Global Foot Orthotic Insoles Market, Access the Complete Report:
https://www.thebusinessresearchcompany.com/report/foot-orthotic-insoles-global-market-report

Foot Orthotic Insoles Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Foot Orthotic Insoles Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on foot orthotic insoles market size, foot orthotic inserts market drivers and trends, foot orthotic insoles market major players, competitors’ revenues, market positioning, and market growth across geographies. The foot orthotic insoles market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Vegan Footwear Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/vegan-footwear-global-market-report

Athletic Footwear Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/athletic-footwear-global-market-report

Medical Footwear Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/medical-footwear-global-market-report

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]

Check out our:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn

Sports Market Growth Forecast 2023-2027