Step by step: The industry will benefit from the rising incidence of diabetes and aging US population

Over the past five years, the Podiatrists industry stepped in the right direction thanks to the aging population and the rising prevalence of diabetes, which has caused more individuals to require foot care. Many healthcare insurance providers have recognized how vital preventive podiatry care is to lower diabetic patients' healthcare costs. Combined with rising Medicare and Medicade funding, industry revenue increased over the five years to 2018. While Americans have typically overlooked feet as an essential component in health and well-being, this trend is expected to change over the next five years in line with more healthcare providers stressing preventive care, including podiatry, which will contribute to an expected rise in revenue...purchase to read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 13-18
0.1%
Forecast Growth 18-23
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Profit
x.x%lock
Employment
38,203
Businesses
11,742
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Many healthcare insurance providers now recognize how vital preventive podiatry care is to decrease healthcare costs
  • A considerable percentage of those seeking foot care visit a general physician rather than a podiatrist
  • The aging and increasingly insured population is similarly expected to provide stable demand

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    Industry Report - Starting a New Business Chapter

    The Podiatrists industry is characterized by low barriers to entry. According to Podiatry Management's 2018 Podiatric Economics survey, an estimated 31.0% of podiatry practices surveyed were solo practices, with an additional 8.0% of practices operating as solo practices under a corporation. While the number of group practices are growing, which adds to barriers to entry for industry entrants, a majority of podiatrists operate as solo practices, keeping barriers to entry relatively low.Furthermore, podiatrists do not have to make significant investments in medical equipment. Potential industry entrants can also lease equipment and buildings, which lowers their capital outlay. Ove...purchase to read more.

    Additional Insights for the Podiatrists Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Podiatrists Industry are

  • Development of a symbiotic relationship with another industry
  • Having a good reputation
  • Proximity to key markets

    • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Total health expenditure in the Podiatrists industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Podiatrists Industry?

    This industry includes establishments of health practitioners who have the degree of DPM (Doctor of Podiatric Medicine) and are primarily engaged in the independent practice of podiatry. These practitioners diagnose and treat diseases and deformities of the foot and operate private or group practices in their own offices or in the facilities of others, such as hospitals or other medical centers.

    Industry Products
  • Infectious and parasitic diseases
  • Endocrine, nutritional and metabolic diseases
  • Circulatory system diseases
  • Skin and subcutaneous tissue diseases
  • Musculoskeletal system and connective tissue diseases
  • Merchandise sales
  • Nervous system and sense organ diseases
    • Industry Activities
  • Operating doctors of podiatry (DPs) offices (e.g. centers and clinics)
  • Operating foot specialist (podiatry) offices (e.g. centers and clinics)
  • Operating podopediatrician offices (e.g. centers and clinics)
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Total health expenditure
  • Median age of population
  • Number of physician visits
  • Per capita disposable income

    • Current Performance
  • Diabetes and demographics
  • Gaining a foothold
  • Consolidation and wages
  • Chart: Revenue Growth

    • Industry Outlook
  • Demographic trends may lead to shortages
  • Looking ahead
  • Table: Podiatrists Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Podiatrists Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Health & Medical Insurance
  • Primary Care Doctors
  • Specialist Doctors
  • Hospitals
  • Consumers

    • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Generic Pharmaceutical Manufacturing
  • Medical Instrument & Supply Manufacturing

    • Products & Services
  • Musculoskeletal system and connective tissue diseases
  • Skin and subcutaneous tissue diseases
  • Other
  • Infectious and parasitic diseases
  • Endocrine, nutritional and metabolic diseases
  • Merchandise sales
  • Circulatory system diseases
  • Nervous system and sense organ diseases
  • Chart: Podiatrists Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Private health insurance
  • Government
  • Patients' out-of-pocket payments
  • Other patient care revenue
  • Chart: Major Market Segmentation for the Podiatrists Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesOther
  • Chart: Cost Structure Benchmarking – Sector vs Podiatrists

    • Basis of Competition
  • Internal competition
  • External competition

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Podiatrists Industry

    • Industry Globalization

    Major Companies

    There are no major players in this industry. This report includes analysis of other companies.

    Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Podiatrists Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Podiatrists Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of people with private health insurance (2009-2023)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios

    Jargon & Glossary

    Diabetes Mellitus
  • A polygenic disease characterized by abnormally high glucose levels in the blood; any of several metabolic disorders marked by excessive urination and persistent thirst.
    • Health Maintenance Organizations (Hmo)
  • A form of health insurance that combines a range of coverage plans on a group basis.
    • Obesity
  • A medical condition in which excess body fat has accumulated to the extent that it may have an adverse effect on health, leading to reduced life expectancy and increased health problems.
    • Orthotics
  • Shoe inserts that are intended to correct an abnormal or irregular walking pattern.
    • Popopediatrician
  • A physician that treats children's foot diseases.
    • Preferred Provider Organizations (Ppo)
  • Comprises physicians, hospitals or other providers that offer healthcare services at a reduced fee.
    • What Our Customers Say
    Why buy this report?

    IBISWorld’s industry research report on Podiatrists contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Podiatrists:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Podiatrists market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Podiatrists, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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