Podiatry is the branch of medicine concerning the foot, ankle, and lower extremities. Laser treatment is an important tool in several podiatry practices. Advanced laser therapy combines the principles of biology, physics, and technology. According to a survey conducted by GenesisPlus, one-third of the global podiatrists are actively considering incorporation of laser technology into practice and over 60% of them believe laser treatment clears toenail fungus and relieves the symptoms. About 19% of the population of the U.S. has an average of 1.4 foot problems each year. Major types of foot and ankle problems are foot infections, including athlete's foot, other fungal infections, warts, ingrown toenails or other toenail problems, corns or calluses, and diabetic foot syndrome. Advancements in laser technology, increasing incidence of podiatry diseases, and podiatry health awareness are the factors contributing to the growth of the global podiatry laser market. However, high cost of laser therapy restrains the market. According to study published by the International Diabetes Federation [IDF], 2009, foot complications account for up to 20% of total health care resources available in developed countries.
The global podiatry laser market can be segmented based on product type, end-user, application, and region. In terms of product type, the global podiatry laser market can be categorized into fiber lasers, CO2 podiatry surgical laser, intense pulsed light (IPL), Nd:YAG (neodymium-doped yttrium aluminium garnet; Nd:Y3Al5O12) laser, TruBlue, KTP-laser, and diode laser. The CO2 lasers are preferred by surgeons owing to its accuracy and precision which enables treatment of area less than 1 mm. The Nd:YAG laser treats deeper layers of skin tissues than other types of lasers with the wavelength 1064 nm than other types of lasers. Based on end-user, the market can be divided into hospitals, podiatry clinics, and others. In terms of application, the global podiatry laser market can be segmented into diabetic foot syndrome, fungal nail infection, inflammation, warts, wound healing, superficial dermal lesions analgesia, and wart removal.
In terms of region, the global podiatry laser market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounts for the largest share of the global podiatry laser market. Increasing prevalence of diabetes owing to changing lifestyles, rising health care awareness, and high per capita spending capacity are the factors contributing to the growth of the global podiatry laser market in the region. For instance, according to IMPA, in the U.S., more than 65,700 nontraumatic lower extremity arterials (LEAs) were performed in a year on people with diabetes. Europe is the next major market for podiatry laser owing to high level research community, a strong network of companies and end-users in Europe. Asia Pacific is an emerging market due to increasing awareness about laser technology, improving economic conditions, and health care awareness.
Key players operating in the global podiatry laser market include BritaMed, Inc., NuvoLase, Inc., Light Age Incorporated, CoolTouch, Cutera, A.R.C. Laser GmbH, Erchonia Corporation, Multi Radiance Medical, Sheaumann Laser, Inc., INTERmedic Arfran, AMD LASERS, and LightScalpel.
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
- 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.
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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?
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