China's podiatry service market is poised for a 6.8% CAGR by 2034, driven by increasing healthcare awareness and demand for specialized foot care.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, February 1, 2024 /EINPresswire.com/ -- The podiatry service market is experiencing remarkable growth, projecting a robust 3.6% CAGR and setting its sights on reaching an impressive US$ 6,077.7 Million by 2034. This surge in market value highlights the increasing demand for podiatry services, emphasizing the importance of foot and ankle care in the overall healthcare landscape.

As people become more health-conscious, the podiatry sector is witnessing a substantial uptick, with professionals providing specialized care for various foot ailments. The market's upward trajectory signifies a positive trend toward recognizing and addressing foot health, contributing to the overall well-being of individuals across the globe.

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The market is continuously expanding and includes services and treatments for illnesses, deformities, and injuries of the foot and ankle. The MDT method's use to offer patients integrated and comprehensive care has accelerated the acceptance of podiatry services in hospitals.

In addition, the podiatry association's efforts to raise awareness, as well as existing hospitals and clinics seeking to improve the accessibility and availability of services, have aided market growth and awareness. The market for these services is growing in lockstep with the rise in diabetic, obese, and geriatric populations, as foot issues disproportionately affect these groups.

The market's expansion is being fuelled by reasons such as the surge in disposable income, proactive attitude, and increased knowledge about foot care. The expansion of technology and trained resources, as well as initiatives by podiatry groups to increase the use and assist practitioners, have increased awareness of the services.

The rising incidence of foot disorders, particularly in the diabetic and elderly populations with 6.3% and 24%, respectively, and increased awareness and preventative approaches to children's foot problems, are driving the market expansion. Furthermore, sportspersons' use of specialized sports foot and ankle services for the treatment of foot and ankle injuries demonstrates the market potential for podiatry services in the sports area.

"As highlighted in our recent research study, demonstrates robust growth prospects attributed to the rising prevalence of foot-related ailments and an aging population. Our findings underscore a surge in demand for specialized podiatry services, driven by increasing awareness regarding foot health and the importance of preventive care. The Podiatry Service Market is poised for sustained expansion, presenting lucrative opportunities for stakeholders in the healthcare sector." - says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Competitive Analysis:

The market is continuously expanding and includes services and treatments for illnesses, deformities, and injuries of the foot and ankle. The MDT method's use to offer patients integrated and comprehensive care has accelerated the acceptance of podiatry services in hospitals.

In addition, the podiatry association's efforts to raise awareness, as well as existing hospitals and clinics seeking to improve the accessibility and availability of services, have aided market growth and awareness. The market for these services is growing in lockstep with the rise in the diabetic, obese, and geriatric population, as foot issues disproportionately affect these groups.

Some of the recent developments of key podiatry service providers are as follows:

In May 2022, Go 4-D, a firm established in Canada stated that it would focus on data-driven and patient-centric research to aid in the creation of 3D-printed custom-made orthotics.

In April 2022, Kaiser Permanente announced a US$ 1 Billion investment to expand its reach in the United States by creating new clinics and acquiring companies to provide podiatry treatments.

Leading Key Players:

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 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 the Pacific
Western Europe
Eastern Europe
Middle East and Africa

Authored By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Have a Look at the Related Reports of the Healthcare Domain:

Orthopedic Prosthetic Devices Market Analysis: The market is projected to register a CAGR of 4.7% during the forecast period.

Foot And Ankle Devices Market Growth: It is predicted to register a CAGR of 5.9% during the forecast period (2022 - 2032) and is likely to reach US$ 7.8 billion by 2032.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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