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

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

  • November 2020
  • 143 pages
  • ID: 5999681
  • Format: PDF
  • The Insight Partners
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The Europe foot orthotic insoles market is projected to reach US$ 1,621.89 million by 2027 from US$ 1,096.89 million in 2019. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027.
The growth of the Europe 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, high cost of foot orthotic insoles is expected to hinder the growth of the foot orthotic insoles market.
The prevalence of the DFS (Diabetic Foot Ulcer) at the primary care level in Germany is 2.9%. Almost 50% of patients with DFS had major or minor amputations. For diabetic patients, orthotic foot insoles help in preventing pressure on the foot point, which otherwise deteriorates owing to the excess friction inside the shoe. Therefore, with the increasing number of cases of diabetes and rising awareness about the treatment and prevention of further complications, the market in focus is expected to witness significant growth during the forecast period. In addition, presence of several foot orthotic insoles manufactures in the country is driving the growth of the market. For instance, Matthias Hartmann is a Germany-based company that specializes in the production of orthotic insoles tailored to the individual foot shape. Another manufacturer is medi GmbH & Co. KG that offers the igli carbon insole range. The igli carbon insole is a dynamic, highly flexible medical device that combines interactive and conservative modes of action in a unique insole system. This can correct poor alignment of the foot, relieve stresses on the locomotor system and optimize biomechanics. The extremely light and thin carbon bar has specific incisions that permit all biomechanical movement patterns and, at the same time, guarantee the highest possible three-dimensional stability. Also, increasing launch of innovative products is offering lucrative opportunities for the market. For instance, in October 2019, Covestro, a Germany-based chemical company, has revealed the first details about a new application for its TPU material for additive manufacturing—3D printed orthopedic insoles for shoes. The company has showcased a prototype of the customizable insoles at the K 2019 plastics trade fair in Düsseldorf, Germany.
Based on product type, the Europe 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 Europe 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 during the forecast period.

Further, based on application, the Europe 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 during the forecast period.

Based on distribution channel, the 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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