Demand for Prefabricated Insoles Is Projected to Grow at a Healthy CAGR of over 7% by 2031
Demand for Prefabricated Insoles Is Projected to Grow at a Healthy CAGR of over 7% by 2031
Published by top news
Posted on August 16, 2021
Impact of Covid-19 on Healthcare Industry
With the pandemic plaguing maximum countries across the globe, healthcare industry is witnessing its fair share of ‘ups and downs’. The COVID-19 has placed an enormous strain on the healthcare sector’s workforce, facilities and infrastructure. Despite the endless pressure, healthcare sector is growing at a moderate pace due to the improvement in infrastructure and advancement in technology, healthcare sector is delivering a healthy performance.
As per the latest revised report published by Fact.MR, the global insoles market is expected to be a lucrative space, and is anticipated to surpass a valuation of US$ 70 Bn by the end of 2031. Foam insoles are set to lead the way and capture one-third market share through 2031.
Increasing awareness on foot safety and growing foot-related diseases in the Gen-x has been a major cause surge the demand for insoles. Sporting and therapeutic segments are the major growth contributors to the market.
Key players in the market are extensively investing in developing highly ergonomical insoles to reduce foot impact during dynamic activities. This is being achieved through highly advanced foot scanning machines that have been newly introduced into the market. As such one’s foot can be easily scanned and converted into a three-dimensional model, which can be further be used to manufacture highly accurate insoles. Using such strategies market players are easily attracting newer customers, thus contributing to overall growth of the market.
The insoles market is anticipated to add 1.7X value by 2031.
Foam insoles capture a major chunk, equivalent to more than one-third of the global market share, and are set to create an absolute $ opportunity of around US$ 19.5 Bn over 2021-2031.
Among the applications, sports has been the fastest-growing segment, owing to rising consumption of insoles by premium sports shoes users.
East Asia is set to dominate market revenue in 2021, and is expected to gain 226 BPS by 2031.
The market in China and Germany is expected to rise at a CAGR of more than 8% each by the end of 2031.
Due to the COVID-19 crisis, demand for insoles was hit in 2020, which saw a decline of 7% over the 2nd and 3rd quarters.
The Insoles Market report answers the following queries:
What is the largest share held by key players in the market?
What strategies have proven most advantageous in the Insoles Market?
Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
What factors will most likely present challenges to growth during the forecast period?
What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
With the pandemic plaguing maximum countries across the globe, healthcare industry is witnessing its fair share of ‘ups and downs’. The COVID-19 has placed an enormous strain on the healthcare sector’s workforce, facilities and infrastructure. Despite the endless pressure, healthcare sector is growing at a moderate pace due to the improvement in infrastructure and advancement in technology, healthcare sector is delivering a healthy performance.
As per the latest revised report published by Fact.MR, the global insoles market is expected to be a lucrative space, and is anticipated to surpass a valuation of US$ 70 Bn by the end of 2031. Foam insoles are set to lead the way and capture one-third market share through 2031.
Increasing awareness on foot safety and growing foot-related diseases in the Gen-x has been a major cause surge the demand for insoles. Sporting and therapeutic segments are the major growth contributors to the market.
Key players in the market are extensively investing in developing highly ergonomical insoles to reduce foot impact during dynamic activities. This is being achieved through highly advanced foot scanning machines that have been newly introduced into the market. As such one’s foot can be easily scanned and converted into a three-dimensional model, which can be further be used to manufacture highly accurate insoles. Using such strategies market players are easily attracting newer customers, thus contributing to overall growth of the market.
The insoles market is anticipated to add 1.7X value by 2031.
Foam insoles capture a major chunk, equivalent to more than one-third of the global market share, and are set to create an absolute $ opportunity of around US$ 19.5 Bn over 2021-2031.
Among the applications, sports has been the fastest-growing segment, owing to rising consumption of insoles by premium sports shoes users.
East Asia is set to dominate market revenue in 2021, and is expected to gain 226 BPS by 2031.
The market in China and Germany is expected to rise at a CAGR of more than 8% each by the end of 2031.
Due to the COVID-19 crisis, demand for insoles was hit in 2020, which saw a decline of 7% over the 2nd and 3rd quarters.
The Insoles Market report answers the following queries:
What is the largest share held by key players in the market?
What strategies have proven most advantageous in the Insoles Market?
Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
What factors will most likely present challenges to growth during the forecast period?
What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583
