According to a new report, published by KBV research, The Global Foot Orthotic Insoles Market size is expected to reach $4.5 billion by 2028, rising at a market growth of 5.9% CAGR during the forecast period.
The Drug Stores segment is showcasing a CAGR of 6.4% during (2022 - 2028). The growth of medical and drug stores, mainly in emerging nations, is largely responsible for the segment's expansion. Additionally, this sales channel is seeing an increase in the sale of foot orthotic insoles at various drug stores. Additionally, drug stores are frequently viewed by consumers as the second most reliable sales channel.
The Custom-made segment acquired maximum revenue share in the Global Foot Orthotic Insoles Market by Type in 2021 thereby, achieving a market value of $2.6 billion by 2028. The biggest market share for custom-made insoles is probably due to high consumer preference. Patients with particular foot issues benefit from the best possible fit and comfort from these custom-made insoles. Furthermore, the custom-made insoles ensure that the footwear would be correctly fitted thus providing the intended benefits.
The Composite Carbon Fiber segment has shown the growth rate of 6.6% during (2022 - 2028). This is explained by the rising demand for composite carbon fiber on the international market. Due to its high performance and robust reinforcing polymer, composite carbon fiber is recognized to have a growing growth rate-related property. Additionally, growing business investment in composite carbon fiber R&D activities is anticipated to fuel segment expansion over the course of the projection period.
The North America market dominated the Global Foot Orthotic Insoles Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.8 billion by 2028. The Europe market is exhibiting a CAGR of 5.3% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/foot-orthotic-insoles-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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