Podiatry Services Market – Growth Trends and Business Strategies to 2032
Podiatry Services Market
The global podiatry services market size was USD 4.3 Billion in 2022 and is expected to register a revenue CAGR of 4.9% over the forecast period, according to the latest report by Reports and Data.
The need for podiatry services is skyrocketing as a result of the aging population and an increase in chronic illnesses and foot-related concerns. Furthermore, the rising prevalence of diabetes globally is a major factor driving revenue growth in the podiatry services market. Diabetes has been associated with nerve damage, poor blood flow, as well as foot infections, and ulcers, demanding podiatric treatment.
In addition, increased foot and ankle injuries among athletes and the general public are boosting market revenue growth. A rise in sports-related injuries is increasing the need for advanced podiatric treatment, which is driving up demand for sports podiatry. Furthermore, market revenue is increasing as people become more aware of the importance of maintaining foot health and hygiene.
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Some Key Highlights from the Report
- The preventive segment is expected to account for the largest revenue share in the global podiatry services market during the forecast period. The increased frequency of foot disorders such as plantar fasciitis, foot ulcers, and nail infections, which may be prevented with basic podiatric treatment, is the primary reason driving revenue growth in the market. Demand for preventative podiatry treatments is also predicted to rise as the elderly population grows and more emphasis is placed on maintaining foot health.
- The clinics segment is expected to generate the most revenue during the forecast period. The expanding incidence of foot and ankle issues, as well as increased knowledge of the need of maintaining optimal foot health, have raised the demand for podiatry services in clinics. Clinics are also growing in popularity because they give patients with more personalized care and attention than hospitals.
- The podiatry services market in North America is expected to amass the largest share of revenue during the forecast period. This can be attributed to the escalating incidence of foot conditions like plantar fasciitis, diabetes, and arthritis that necessitate the expertise of podiatrists. Furthermore, the increasing geriatric population in this region, which is more susceptible to foot ailments, is boosting the demand for podiatric treatments. The availability of proficient specialists and the adoption of innovative technology and treatment methodologies are projected to propel market revenue growth in this region. The United States, with its vast network of podiatry clinics and robust healthcare system, holds sway over the podiatry services market in North America.
- During the forecast period, the Asia Pacific market is predicted to experience the fastest revenue growth rate. The demand for podiatry services in this region is fueled by the escalating incidence of chronic conditions such as obesity and diabetes. Moreover, the aging population, which is more susceptible to foot problems, is driving market revenue growth. The regional market is expanding due to rising healthcare costs, increasing disposable incomes, and growing awareness of foot health. China and Japan are the major markets in the Asia Pacific region for podiatry services, thanks to their large senior populations and advanced healthcare systems.
Dr. Foot Inc., Orthotic Solutions Podiatry Group, Foot & Ankle Specialists of the Mid-Atlantic, LLC, Premier Podiatry, Podiatry Group of Georgia, Healthmark Foot & Ankle Associates, American Podiatric Medical Association, Advanced Podiatry, A Step Up Podiatry, and The Foot & Ankle Center.
Service Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Diabetic Foot Care
- Sports Injury
End-User Outlook (Revenue, USD Billion; 2022 – 2032)
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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