The global podiatry services market size is expected to reach USD 4.99 billion by 2028 according to a new study by Polaris Market Research. The report “Podiatry Services Market Share, Size, Trends, Industry Analysis Report, By Type (General Podiatry, Podiatry Surgery, Sports Podiatry, Podopediatrics); By Facility; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current industry dynamics and provides analysis on future industry growth.
The surge in the number of diabetes conditions, rise in obesity, coupled with growing foot problems due to sports injury, are the prominent factors favoring the global market growth. Moreover, the substantial growth in demand for advanced technologies, such as 3D scanners and 3D printers, video gait analysis (VGA) is one of the integral factors accelerating the industry growth. Furthermore, the increasing investments in healthcare sector along with rising demand for these services in hospitals is driving the industry forward.
Based on type, general segment is the dominating in the global market, owing to the surge in prevalence of foot problems due to diabetes, overweight or obesity, and growing geriatric population. Whereas, sports segment is projected to grow at fastest CAGR in the overall industry, owing to the increasing foot injury during sports activity and rise in the number of people participating in sports.
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North America region dominates the industry share due to high healthcare investment, which initiates podiatrists to adopt advanced technologies for foot treatment. Whereas, Asia Pacific region is expected to be the leading region in the upcoming years, owing to the growing geriatric population, which has a high possibility of foot problems like knee, ankle pain, and many more.
However, the sudden outbreak of COVID-19 had a significant impact on this industry. On the contrary, the adoption of telemedicine/teleconsultation services has connected patients to podiatrists with integrated and comprehensive care, further propelling the demand for these services.
Major participants such as Beijing Puhua International Hospital, Burjeel Hospital for Advances Surgery, Baycrest, Foot and Ankle Specialists of the Mid-Atlantic (FASMA), Fortis Healthcare, Kaiser Permanente, Massachusetts General Hospital, Max Healthcare, Mayo Clinic, Medicine Middle East, The London Podiatry Center, Nuffield Health, Schoen Clinic, The Royal Free Hospital are some of the key players operating.
In April 2021, The American Podiatric Medical Association (APMA) launched "Today's Podiatrist Keeps America Active," its national foot health awareness month campaign. This campaign aims to raise awareness among individuals regarding the podiatrist's expertise in sports medicine, which includes diagnosing, preventing injuries, and treating sports-related conditions in the feet and ankle. Such initiative by the associations will increase the awareness among the people, which drives the industry forward.
Polaris Market Research has segmented the podiatry services market report on the basis of type, facility, and region:
Podiatry Services, Type Outlook (Revenue - USD Billion, 2016 - 2028)
Podiatry Services, Facility Outlook (Revenue - USD Billion, 2016-2028)
Podiatry Services, Regional Outlook (Revenue - USD Billion, 2016-2028)