Global Podiatry Equipment Market: Overview

Podiatry is a medical specialty that deals in the diagnosis, prevention, and treatment of a wide range of ankle and foot diseases, defects, and injuries. Podiatrists diagnose and treat foot problems caused due to underlying medical conditions such as diabetes and arthritis. Different types of equipment, devices, and systems are used for the accurate diagnosis and treatment of various types of foot disorders, diseases, and injuries, including ingrown toenails, heel and arch pains, and skin problems. This equipment includes podoscopes, podiatry chairs, podiatric drills and lasers, biopsy kits and instruments, podiatry lights, scissors and nippers, and other products. Podoscopes are widely used for the diagnosis of foot and ankle disease and injuries.

Global Podiatry Equipment Market: Drivers and Restraints

The global podiatry equipment market is projected to be driven by high prevalence and rising incidence of podiatry diseases and arthritis and diabetes worldwide. A large proportion of the adult population is affected by foot pain, Achilles tendonitis, bunions, ankle pain, hammer toe, and claw toe worldwide. It is estimated that about 19% of the population of the U.S. has an average of 1.4 foot problems each year. Diabetes is one of the leading causes of foot complications worldwide that causes several foot disorders such as tingling and pain, low blood supply in feet, and foot ulcers. Technological advancements in diagnostic and treatment podiatric devices, new product developments, and favorable medical reimbursement policies are projected to fuel the podiatry equipment market during the forecast period. Moreover, increased awareness about foot diseases, and rise in demand for preventive health care in developed countries is likely contribute to the expansion of the podiatry equipment market. On the other hand, the high cost of equipment is projected to restrain the podiatry equipment market during the forecast period.

Global Podiatry Equipment Market: Key Segments

The global podiatry equipment market can be segmented based on product, end-user, and region. In terms of product, the global podiatry equipment market can be classified into operating units, podiatry chairs, diagnostic devices, accessories, and others. The operating units segment is projected to account for a prominent podiatry equipment market share by the end of 2025. The operating units segment can be further sub-divided into podiatry workstations, podiatry drills, podiatry shock wave therapy devices, podiatry lasers, surgical lights, and others. The diagnostic devices segment can be further split into podoscopes, baropodometry platforms, orthopedic 3D scanners, and others. The podoscope sub-segment is projected to be highly lucrative and is likely to expand at  rapid CAGR during the forecast period. A podoscope is a diagnostic device that uses highly polarized light for the detection of orthopedic foot defects. Podoscopes help to determine the root cause of painful walking, deformities, leg pain, ligament damage, and other ailments of the legs. The accessories segment can be further categorized into nail scissors & nippers, black files and probes, biopsy packs, and others. Based on end-user, the global podiatry market can be segmented into hospitals, ambulatory surgery centers, and specialty clinics. The hospitals segment is projected to dominate the global podiatry equipment market by the end of 2025.

In terms of region, the global podiatry equipment market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global podiatry equipment market by the end of 2025. A large number of adults and children in the U.S. are diagnosed with the foot problems. It is estimated that around 75% of people in the U.S. will experience foot problems in their lifetime. Well-established health care facilities, easy access to healthcare facilities, and high levels of awareness about foot and ankle disorder in the region are estimated to drive the podiatry equipment market in the region. Europe is also likely to constitute a significant share of the global podiatry equipment market. The market in the Asia Pacific is estimated to expand at a significant CAGR during the forecast period. The podiatry equipment market in Latin America and Middle East & Africa is projected to expand at moderate pace during the forecast period.

Global Podiatry Equipment Market: Key Players

Key players operating in the global podiatry equipment market include Erchonia Corporation, Sheaumann Laser, Inc., Elektronische Steuergeräte GmbH, NAMROL GROUP, Vismara s.r.l., Sensor Medica, S.M.D. Srl, Mariotti & C. srl, ELLA LEGROS, and CHINESPORT S.p.a.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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