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Asia Pacific Foot Orthotic Insoles Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type ; Material ; Application ; Distribution Channel, and Country

Asia Pacific Foot Orthotic Insoles Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type ; Material ; Application ; Distribution Channel, and Country

  • November 2020
  • 146 pages
  • ID: 5999646
  • Format: PDF
  • The Insight Partners
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The Asia Pacific foot orthotic insoles market is projected to reach US$ 1,117.51 million by 2027 from US$ 686.93 million in 2019. The market is estimated to grow at a CAGR of 6.4% from 2020 to 2027.
The growth of the Asia Pacific foot orthotic insoles market is attributed to increasing incidence of diabetes, arthritis, and other foot conditions and growing demand from the sports sector.Moreover, introduction of 3D printed orthotics insoles is expected to foster the market growth during the forecast period.

However, less adoption of foot orthotic insoles due to the lack of awareness in emerging economies is expected to hinder the growth of the foot orthotic insoles market.
China ranks number one, with the highest number of people with diabetes.The prevalence of diabetes and diabetic complications increased alarmingly in the last few years.

As per the World Health Organization, almost 10% of all adults in China—about 110 million people—currently live with diabetes.The number is expected to increase to 150 million by 2040 with major health, social, and economic consequences.

Factors such as obesity, aging, diet, and physical activity as well as genetic factors contributed in accelerating diabetic population.Chronic wounds, such as diabetic foot ulcers and venous leg ulcers, have brought substantial challenges to millions of patients worldwide.

The demand for the foot orthotic insoles has seen a dramatic increase over the past few years due to increasing prevalence of diseases, such as diabetes, obesity, arthritis. Elevated plantar pressures are recognized as one of the risk factors for first ulceration and international guidelines suggest the use of orthotic insoles to reduce pressures. Increasing prevalence of diabetes is expected to boost the adoption of foot orthotic insoles in the coming years. Apart from this, rise in cases of rheumatoid arthritis (RA) is likely to increase the demand for foot orthotic insoles during the forecast period. RA is a chronic, autoimmune, inflammatory disease that causes swelling in joints. It commonly affects joints in the hands, wrists, and knees.
Increasing research activities to provide custom made solutions are further driving the growth of the marker. For instance, in august 2017, 3D-printed custom insoles maker – RESA Wearables, Inc. and raw materials provider – Shenzhen eSUN Industrial Co., Ltd. entered into a joint venture to introduce RESA Wearables state-of-the-art Scan, Design, Print kiosks in major retail centers throughout China. Called Shenzhen Resun Healthcare Technology Co., Ltd., the new partnership intends to disrupt the traditional foot care and custom orthotic insoles industries through its innovative technology and immediate delivery of custom insoles. The joint venture would provide RESA with the exciting opportunity to launch its state-of-the-art technology and products in China, as well as a technical partnership with eSUN for access to eSUN’s proprietary filaments and raw materials that RESA uses to create durable, flexible, eco-responsible, bio and electronically-advanced insoles.
Based on product type, the Asia Pacific foot orthotic insoles market is further segmented into customized and prefabricated.The customized segment held the largest share of the market in 2019, whereas the same segment is anticipated to register the highest CAGR in the market during the forecast period.

In terms of material, the Asia Pacific foot orthotic insoles market is segmented into thermoplastics, polyethylene foams, leather, cork, composite carbon fibers, ethyl-vinyl acetates (EVAs), gel, and others.The polyethylene foams segment held the largest share of the market in 2019, whereas the thermoplastics segment is anticipated to register the highest CAGR in the market during the forecast period.

Further, based on application, the Asia Pacific foot orthotic insoles market is segmented into sports and athletics, medical, and personal comfort.The medical segment held the largest share of the market in 2019, whereas the sports and athletics segment is estimated to register the highest CAGR in the market during the forecast period.

Based on distribution channel, the Asia Pacific foot orthotic insoles market is segmented into drug stores, hospitals and specialty clinics, online stores, and others. The hospitals and specialty clinics segment held the largest share of the market in 2019, whereas the online stores segment is estimated to register the highest CAGR in the market during the forecast period.
A few of the major primary and secondary sources referred to in the process of preparing the report on the foot orthotic insoles market are the World Health Organization and Ministry of Health and Prevention.

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