Podiatry Service Market Size, Share, Opportunities, And Trends By Type (General Podiatry, Podiatry Surgery, Sports Podiatry, Podopediatrics), By Patient Demographics (Pediatric Podiatry, Adult Podiatry, Geriatric Podiatry), By Facility (Hospitals & Outpatient Departments, Podiatry Office / Clinics, Homecare & Telemedicine), And By Geography - Forecasts From 2024 To 2029

The podiatry service market is expected to witness significant growth during the forecasted period.

The medical care provided with an emphasis on the diagnosis, treatment, and prevention of foot and ankle disorders is included in the podiatry service market. In addition to providing wound care, orthotic therapy, and surgical solutions for problems such as bunions, plantar fasciitis, and diabetic foot issues, podiatrists offer a wide range of services. Growing awareness of the significance of foot health, an older population with a higher frequency of foot issues, and improvements in podiatry treatments and technology are some of the factors propelling the market growth. The market is developing in response to the rising demand for specialist foot care, as well as the increase in healthcare coverage and insurance payment for podiatry services.

Market Drivers:

• The aging population is anticipated to boost the podiatry service market.

One major factor fueling the market's expansion for podiatry services is the aging population. Older people have an increased risk of developing foot-related conditions such as arthritis, complications from diabetes, and circulation disorders. Specialized podiatry care is frequently required for these disorders to preserve mobility, reduce discomfort, and stop additional problems. The need for podiatric treatments is rising as a greater percentage of people worldwide reach older age ranges. As a result of this demographic transition, the market for podiatry services is developing as medical professionals work to address the aging population's increasing need for comprehensive foot care.

According to the CDC in 2023, Falls are expensive and prevalent, particularly for Americans 65 and older. However, falls do not have to be an unavoidable aspect of growing older; they can be avoided. As per data, falls account for one out of every two injuries and deaths among older adults (65 and over) in the United States. In the United States, one in four senior citizens will fall at some point in their lifetime, making falls a public health concern, especially for the aging population.

• An increase in the diabetic population is expected to boost the podiatry service market.

Another major factor propelling the podiatry services market growth is the prevalence of diabetes. Serious foot issues such as Charcot arthropathy, neuropathy, and foot ulcers can be brought on by diabetes. Through routine foot examinations, wound care, and instruction on appropriate foot care techniques, podiatrists play a critical role in controlling and avoiding these issues. The need for specialized podiatric services to treat diabetic foot issues is growing as the prevalence of diabetes continues to climb worldwide. This pattern encourages the market for podiatry services to grow as medical professionals work to address the rising need for diabetic foot care and management.

For example, the University of Bath and Lancaster University collaborated to initiate research in February 2021 to treat diabetic foot ulcers using plasma-activated antimicrobial hydrogel therapy. To speed up healing and further inhibit bacterial growth, this therapy included treating the lesion with an antibacterial molecule and raising the oxygen content of the area. During the study period, the adoption rate of wound dressing products is expected to increase due to this improvement in the wound dressing segment. As a result of the aforementioned factors, the wound dressings segment is anticipated to have considerable expansion during the projected period.

• Technological advancements are anticipated to boost the podiatry service market.

The podiatry services market is expanding because of technological breakthroughs that are transforming patient care, diagnosis, and treatment. Podiatrists are better equipped to diagnose patients and treat them as new technologies emerge. Examples of these innovations include 3D printing for bespoke orthotics, minimally invasive surgical procedures, sophisticated imaging techniques, and telemedicine platforms. These innovations increase the general patient experience, speed up recovery, and improve patient outcomes.

Digital health technologies also make it possible to remotely monitor foot issues and improve patient-podiatrist communication. The market for podiatry services is growing as a result of technology's ongoing advancements, which present new ways to enhance foot health and mobility.

In August 2023, a multimillion-dollar grant from the National Institutes of Health was given to a group of researchers from the Terasaki Institute for Biomedical Innovation (TIBI) and the University of Nebraska Medical Center (UNMC) to develop an improved, multi-pronged wound treatment for diabetic foot ulcers (DFUs).

Asia Pacific region is expected to grow significantly.

The market for podiatry services is expanding significantly in the Asia-Pacific area for several reasons. The aging population, changing lifestyles, and rapid urbanization all contribute to the rise in the prevalence of foot-related illnesses such as arthritis and diabetes. Demand for podiatry services is also being driven by improvements in healthcare infrastructure and rising healthcare expenditures in nations like China and India.

Furthermore, increased access to specialized podiatry care is being made possible throughout the region by advances in medical technology and a greater awareness of foot health. The market for podiatry services in Asia-Pacific is expected to grow and develop under the favorable conditions created by these factors combined.

According to NCBI, in 2020, an estimated 463 million adults worldwide have diabetes, and India has the second-highest number of sufferers, after China. A significant problem for national health systems and healthcare providers in general is diabetic foot disease. According to reports, there is a 25% lifetime risk for a diabetic to develop a foot ulcer, and foot ulcers are the most common cause of hospitalization for diabetic patients.

Additionally, the cost of treating diabetic foot ulcers is high—it represents 20% of all healthcare expenses related to diabetes—more expensive than treating any other diabetic condition. In India, 85% of amputations are preceded by foot ulcers, and the number of diabetic foot patients is rising in both urban and rural areas.

 Market Restraints

• Limited access to care could constrain the market for inhibitors.

Limited access to care is a significant issue for the podiatry services market, especially for marginalized groups and underserved areas. Patients may find it difficult to access podiatry care promptly due to financial obstacles like lack of insurance coverage, geographic differences, and a paucity of podiatrists in rural areas. To guarantee that everyone has equitable access to foot care services, addressing these access difficulties will require creative solutions like telemedicine projects, mobile clinics, and more financing for podiatry education and outreach programs.

Market Development:

• January 2024- The OptiView® Transparent Dressing with HydroCoreTM Technology is the newest product in Medline's advanced wound care portfolio. Medline is the industry leader in skin care products. With its unique transparent design, this first-of-its-kind wound dressing makes it simple and quick for carers to check, monitor, and blanch skin while the dressing is in place. Pressure and overheating can cause skin deterioration and raise the possibility of developing pressure injuries. Conventional routine skin examinations necessitate removing the wound dressing several times a day, which can be stressful for the carer and the doctor, in addition to adding to the stress on the adhesive of the dressing and the skin underneath.
• March 2023: To create a useful foot scanning system for clinics that will benefit both patients and medical professionals, Enertor Medical teamed up with RSscan Lab. The system's data collection can yield insightful information on a patient's gait pattern.

Market Segmentation:

• By Type:
  • General Podiatry
  • Podiatry Surgery
  • Sports Podiatry
  • Podopediatrics
• By Patient Demographics:
  • Pediatric Podiatry
  • Adult Podiatry
  • Geriatric Podiatry
• By Facility:
  • Hospitals & Outpatient Departments
  • Podiatry Office / Clinics
  • Homecare & Telemedicine
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others