Foot Orthotic Insoles Market Trends

Growth Drivers

• Increasing geriatric population: The rising geriatric population across the globe is a key factor driving the foot orthotic insoles market demand. As per UN reports, in 2020, there were 727 million people worldwide who were 65 or older. By 2050, this figure is expected to rise more than double, reaching over 1.5 billion people. Orthotic insoles offer essential support to the foot by improving foot alignment, reducing pain, and preventing further complications.
• Rising e-commerce sales and awareness campaigns by healthcare providers: The rapid expansion of e-commerce platforms and rising efforts by sales channels to reach untapped markets is predicted to impel the foot orthotic insoles market growth. Different types of foot orthotic insoles are easily available on these online platforms at comparatively cheaper rates.

Challenges

• High cost of custom orthotic insoles: The high cost of custom foot orthotic insoles is a major factor expected to hamper foot orthotic insoles market growth. Several custom orthotics are made to fit a particular foot and treat individual foot ailments. In contrast to over-the-counter insoles, these products are typically more expensive.
• Lack of awareness: Many potential users are unaware of the benefits of orthotic insoles, especially in emerging economies. This can hamper the overall adoption rates going ahead. In addition, lack of distribution networks and limited access to certified podiatrists will affect market expansion.