Podiatry is a medical profession that deals with the diagnosis, treatment and prevention of diseases affecting the lower limb extremity such as the foot and ankle. Podiatry was earlier known as chiropody and is still termed as chiropody in countries such as the UK and in some provinces of Canada.
TBRC’s report covers the foot treatment market.
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The global podiatry market grew at a compound annual growth rate (CAGR) of more than 1.5% from 2013-2017 and is expected to grow at 2.5% by 2021. This was about half the growth rate of the global healthcare market in this period. Low awareness of the value of healthcare, which meant that governments and insurers limited coverage for it, and individuals were reluctant to pay for it, probably accounts for its relatively low rate of growth.
Clinics was the largest segment by facility in the podiatry services foot market in 2017, accounting for 55% of the market. Most foot care treatment is provided on an outpatient basis, not requiring an overnight stay, so convenience of access is a significant factor in the market. Clinics also do not have stringent regulations as compared to hospitals for the provision of services.
Hospitals was the second largest segment in the podiatry services market in 2017, accounting for 35% of the market. Other facilities (homecare organizations, nursing homes) was the smallest segment in 2017, accounting for just 11.5% of the market share.
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Clinics are healthcare facilities that solely provide podiatry services for conditions that do not require any overnight observation of the patient under treatment. These clinics are operated by single podiatrist or a group of podiatrists and exist as a standalone clinic or chain of clinics. It also includes offices of physicians and general practitioners that provide podiatry services to patients. In some countries, physicians such as orthopedists, general physicians or endocrinologists offer podiatry services as outpatient care in clinics.
TBRC’s latest report will cover the latest trends in this market along with predictions on future trends, based on data analyzed and interviews conducted by the market experts.
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