The Asia Pacific Foot Orthotic Insoles Market would witness market growth of 7.0% CAGR during the forecast period (2022-2028).
Custom foot insoles are the key market driver for foot orthotics. Due to the ageing population's increased use of custom soles and rising healthcare costs, there is an increase in the demand for custom insoles. Worldwide demand for bespoke foot insoles is rising as a result of their assurance of proper alignment and reduction of foot pain.
The need for foot orthotic insoles is rising as a result of the growing demands for safety and comfort among the sports community, including athletes, hockey players, football players, and many others. This aspect is promoting market expansion. Overuse injuries to the lower limbs are frequent in those who engage in regular physical activity.
The most frequent ailments are plantar fasciitis/plantar heel pain, patellofemoral discomfort, Achilles tendinopathy, and medial tibial stress syndrome. Lower limb injuries cause wasted training time, cost money, have a negative impact on a person's physical and emotional well-being, and raise the possibility that they may cease engaging in physical exercise.
The market's need for medical equipment will increase as there are more medical institutions. Demand will be increased by a number of government programmes, including the creation of medical parks and the "Production Linked Incentive (PLI) Scheme for Medical Devices 2020." India now imports between 70 and 80 percent of its medical equipment needs, so there is still a significant gap between supply and demand.
The China market dominated the Asia Pacific Foot Orthotic Insoles Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $318.4 Million by 2028. The Japan market is estimated to grow a CAGR of 6.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 7.7% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Hospitals & Clinics, Drug Stores, and Others. Based on Type, the market is segmented into Custom-made and Pre-fabricated. Based on Material, the market is segmented into Thermoplastics, Composite Carbon Fiber, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Foot Orthotic Insoles Market is Projected to reach USD 4.5 Billion by 2028, at a CAGR of 5.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Materialise NV, Colfax Corporation, Reckitt Benckiser Group PLC, Hanger Inc., Ossur Hf., Groupe Gorge, Superfeet Worldwide, LLC, Ottobock SE & Co. KGaA, A Algeos Limited, and Bauerfeind AG.
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