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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