Podiatrists Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/4/2023
SIC Codes: 8043
NAICS Codes: 621391
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Podiatrists Industry Profile

Practitioners in this industry diagnose and treat diseases and deformities of the foot. No major companies dominate the industry.

In the US, there are about 18,000 podiatrists licensed and practicing, according to American Podiatric Medical Association (APMA).

The US industry includes about 8,000 podiatry clinics that generate about $5 billion in annual revenue.

COMPETITIVE LANDSCAPE

Demand for podiatry services is driven by population growth and demographics. Profitability depends on patient volume, insurance reimbursement, reputation, and operational efficiency. Large practices enjoy economies of scale related to administrative costs and purchasing diagnostic equipment. Small practices can compete effectively by providing good customer service and by operating from convenient locations.

The industry is highly fragmented: the top 50 firms account for about 10% of industry revenue. Historically, solo practice has been the norm for podiatrists. However, more group practices are emerging, often with other specialists as part of the practice group. Podiatrists are also employed by hospitals, health departments, and nursing homes.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major areas of treatment include patient care related to musculoskeletal system and connective tissue, accounting for about 40% of the industry's revenue. Other areas include skin and subcutaneous tissue for about 25%. Podiatrists also offer treatment for certain infectious and parasitic diseases, accounting for about 10%; endocrine, nutritional, and metabolic diseases; and diseases of the circulatory system both accounting for about 5%. Other treatments accounting for about 15%.

Among the common disorders podiatrists treat are ingrown ...

 
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