PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1663393
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1663393
Global Podiatry Services Market was valued at USD 4.53 billion in 2023 and is expected to grow with a CAGR of 2.3% over the forecast period 2024-2032. The rising prevalence of chronic diseases such as diabetes and arthritis is a significant driver of this market. These conditions often necessitate specialized foot care, making podiatry services indispensable. Additionally, increasing awareness regarding foot health and hygiene is prompting more individuals to seek podiatric care, further expanding the market's growth trajectory.
Technological advancements in diagnostic and therapeutic techniques, such as advanced imaging and minimally invasive procedures, are enhancing the precision and efficiency of podiatric treatments. The adoption of telemedicine and home care services has also made podiatric services more accessible, particularly in underserved regions. Moreover, the establishment of specialized clinics and rehabilitation centers, along with government initiatives to include podiatry in healthcare insurance programs, continues to bolster market growth.
In 2023, the general podiatry segment accounted for the largest share of the market, driven by routine care and preventive services for conditions like bunions, ingrown toenails, and diabetic foot ulcers. Meanwhile, sports podiatry is poised to grow at the fastest CAGR of 3.4% during the forecast period, driven by rising sports participation and advancements in treatment modalities tailored to athletes.
Regionally, North America dominated the market in 2023, holding 41.8% of the global revenue share. This growth is attributed to the region's advanced healthcare infrastructure, high prevalence of chronic conditions, and significant healthcare expenditure. However, the Asia Pacific region is expected to exhibit the highest growth, driven by rising healthcare awareness, improving infrastructure, and a growing geriatric population.