Podiatry Services Market is projected to reap sizable and steady revenue growth | TMR Research Study
The podiatry workforce has evolved in relation to the scope of the practice, the growth fueled increasingly by changing demands of evidence-based care among patients. The trend has become a defining attribute of care in the podiatry services market. The demand in foot care services, a key segment of the podiatry services market, has made positive strides in order to align with changing dynamics in overall healthcare in the developed and the developing world. Focus on efficiency and adaptability toward the slew of new digital technologies have kept the podiatry practice considerably dynamic. Problems that affect lower limb or feet, including toenails, come under the purview of the practice. Over the years, podiatry services in hospitals have grown in numbers and expanded in scope of what podiatrists do--their roles, expectations, clinical expertise—all have enriched the practice. The regulations are key circumscribing framework within which the contours of the podiatry services market are etched.
The study presents a critical assessment of the recent healthcare trends, impact of changes in regional regulations, changing patient’s demands, and new avenues in key markets.
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Podiatry Services Market: Key Trends
The global podiatry services market is projected to reap sizable and steady revenue growth on the back of the rapidly growing demand from aging populations worldwide. Geriatrics are more prone to suffer from some sort of frailty, which puts a substantial clinical burden on the lower limb. Another major chunk of demand is likely to come from diabetic population. Growing populations with long-term health conditions due to chronic diseases is another driver for growth in the podiatry services market. Some of the conditions that form potential target patients for podiatry services are arthritis, foot fractures, gait problems, surgery, and bunions and hammertoes.
Extensive efforts have been made by governments, particularly in developed nations, to boost the clinical expertise of the podiatry practice.
Podiatry Services Market: Competitive Dynamics and Key Developments
During the COVID-19 times, the use of telehealth in meeting the urgent patients’ needs has also shaped the recent competitive forces in the podiatry services market. A number of family health centers in developed nations and emerging economies have given substantial opportunity to technology players who are keen on disrupting healthcare industry with digital tools. Growing awareness about role of evidence-based practice (EBP) in podiatry practice has further spurred the prospects.
Some of the key players in the podiatry services market are;
- Schoen Clinic
- Beijing Puhua International Hospital
- Fortis Healthcare
- The Royal Free Hospital
- The London Podiatry Center
- Kaiser Permanente
- Massachusetts General Hospital
Podiatry Services Market: Regional Assessment
Rise in sports injuries that need podiatry services is a trend generating revenue prospects in some of the developed countries of the world. Some of the lucrative markets have been North America and Europe. The U.S. has generated sizable chunks of demand on the back of the Multidisciplinary Team (MDT) approach and quality of care in hospitals. In the U.K., growing strength of multi-disciplinary clinical team or working in the private sector is a key trend boosting the prospects in the global podiatry services market. The podiatry practice has evolved amazingly in these countries and barriers to adoption of new diagnostics technologies have also reduced, adding fillip to the demands for podiatry services market. Growing focus on community care services in Europe has also created some exciting avenues for players in the region.
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