The podiatry service market is set for a promising decade of steady growth, according to a new market analysis. The market, valued at USD 4,720.0 million in 2023, is expected to rise at a CAGR of 3.6%, with projections indicating an increase from USD 4,845.2 million in 2024 to a remarkable USD 6,077.7 million by 2034.
This growth trajectory reflects a rising global demand for comprehensive foot and ankle care, driven by an aging population, increasing prevalence of diabetes and other chronic conditions, and a growing emphasis on preventive healthcare. The podiatry service market is on the cusp of significant advancements, with innovations in treatment methodologies, enhanced patient care protocols, and improved accessibility to specialized services.
The expanding market presents a wealth of opportunities for healthcare providers, medical professionals, and industry innovators to make impactful contributions. As we move forward, the focus will be on delivering high-quality, patient-centric care that addresses the diverse needs of individuals worldwide.
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The growing need for specialized care in the podiatry services industry has led to the establishment of specialty clinics and rehabilitation centers. Modern diagnostics, a wide range of treatment options, and rehabilitation services tailored to the unique requirements of foot and ankle injuries are all offered by these clinics.
The increasing incidence of long-term illnesses, especially diabetes, highlights how vital podiatric care is for both treating and preventing foot problems. Because neuropathy, poor circulation, and the formation of foot ulcers are commonly linked to diabetes, podiatrists play a crucial role in the treatment of diabetic foot problems.
Key Takeaways:
- The global podiatry service market is expected to experience steady growth over the next decade, with a projected CAGR of 3.6%.
- The market is estimated to reach US$6.1 billion by 2034, reflecting an increase from US$4.7 billion in 2023 and US$4.8 billion in 2024.
- Rising focus on foot health and increasing geriatric population are key growth drivers for the podiatry service market.
Competitive Landscape:
The market is constantly growing and offering services and treatments for ailments, foot & ankle injuries, and abnormalities. The adoption of podiatry services in hospitals is increasing due to the implementation of several advanced techniques that provide patients with comprehensive and integrated care.
Key players are focusing on mergers, partnerships, and acquisitions to expand their market reach. They are also directing toward investment in several growth strategies to enhance their business.
For instance,
- In May 2022, Go 4-D announced that it would focus on patient-centric and data-driven research to aid in making 3D-printed custom-made orthotics.
- In April 2022, Kaiser Permanente announced a US$ 1 billion investment to expand its reach in the United States.
- In 2021, Palm Medical Centers acquired Dr. Profet Health and Wellness Center, LLC, a primary care practice in Florida.
Key Companies Profiled:
- Broadway Foot & Ankle Clinic
- Chicago Foot Health Centers
- Ashinosenmon Tokyo Podiatry Clinic
- Shimokitazawa Hospital
- DfC Diabetic Foot Clinic
- Europe Hospitals – St-Michel Site
- FLECK PODOLOGIA by Simone Fleck
- MÉDICALE DU GRAND SUD
- Bauerfeind Polyclinic
- Burjeel Hospital
- OSTEO POLY CLINIC
- Euromed Clinic
- Oregon Foot Clinic
- Palm Beach Podiatry
- Town Center Foot and Ankle
- Seven Hills Hospitals
- Wockhardt Hospitals
- Apollo Hospitals
- Fortis Hospitals
- Mediclinic Middle East
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Podiatry Service Market Segmentation by Category:
By Service Type:
- General Podiatry
- Orthopedic Podiatry
- Sports Podiatry
- Cosmetic Podiatry
- Podopaediatrics
- Wound Care Podiatry
- Others
By Patient Demographics:
- Pediatric Podiatry
- Adult Podiatry
- Geriatric Podiatry
By Indication:
- Diabetic Foot Care
- Sports-related Injuries
- Structural Abnormalities
- Fungal Infections
- Bunions and Corns
- Ingrown Toenails
- Other Indications
By Service Provider:
- Hospitals
- Podiatry Clinics
- Homecare and Telemedicine
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- Middle East and Africa
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