Podiatry Services Industry Overview
The global podiatry services market size was valued at USD 4.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 1.9% from 2021 to 2028. The higher income at disposal, preventive approach, and rising awareness regarding foot care are the factors fueling the market growth. The technological advancement and skilled resources, along with the efforts by podiatry associations to raise the adoption and support the practitioners have added to the awareness regarding the services.
The growing prevalence of foot problems especially in diabetic and geriatric population which is around 6.3% and 24.0% respectively, and the growing awareness and preventive approach in children’s foot problem are contributing to market growth. Furthermore, the adoption of specific sports foot and ankle services by sportsperson for the management of foot and ankle injuries depicts the market potential for podiatry services in the field of sports.
Gather more insights about the market drivers, restraints and growth of the Global Podiatry Services Market
The podiatry profession is fragmented in nature, mostly dominated by the solo practice model. However, the efforts by podiatry associations have helped the practitioners grow, stay updated, and connected. Lately, more group practices are emerging considering the adoption of the Multidisciplinary Team (MDT) approach to provide comprehensive care by relevant specialists further leading to growth in the availability of podiatry services in hospitals and large healthcare clinics.
The government initiatives such as the inclusion of podiatry services in healthcare insurance, initiatives towards primary care of diabetes, obesity, and chronic diseases further supports the market awareness and adoption. The organizations providing these services such as hospitals and clinics are investing further to promote awareness among patients to improve the reach and availability of the services for the larger population.
The ongoing Covid-19 pandemic has significantly affected the healthcare industry, including podiatric specialists. During the initial phase of the pandemic, only the classified essential healthcare services were allowed to operate and podiatry services were excluded from the essential services. However, they were later re-classified as essential. The healthcare providers including hospitals and clinics have modified some of the regulatory requirements to provide flexibility to podiatrists whose practices were affected during pandemic restrictions. Podiatrists are playing a critical role during this pandemic, especially in the prevention of diabetic and vascular foot ulceration and related hospital admissions as these cases are adding pressure to ICU capacity.
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Podiatry Services Industry Segmentation
Grand View Research has segmented the global podiatry services market based on type, facility, and region:
Podiatry Services Type Outlook (Revenue, USD Million, 2016 - 2028)
- General Podiatry
- Podiatry Surgery
- Sports Podiatry
- Podopediatrics
Podiatry Services Facility Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals & Outpatient departments
- Podiatry Office / Clinics
- Homecare & Telemedicine
Podiatry Services Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Key Companies profiled:
Some prominent players in the global Podiatry Services Industry include
- Massachusetts General Hospital
- Kaiser Permanente
- The London Podiatry Center
- The Royal Free Hospital
- Fortis Healthcare
- Beijing Puhua International Hospital
- Schoen Clinic
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