Podiatrists Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/28/2017
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.

Podiatrists have an organized presence in more than 40 countries, including nations in the Americas, Europe, and the Asia/Pacific region, according to the International Federation of Podiatrists (IFP).

The US industry includes about 8,500 podiatry clinics that generate about $4.5 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 less than 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 musculoskeletal and connective tissue problems (about 35% of industry revenue), skin issues (20%), and infectious and parasitic diseases (10%). Other areas include endocrine and nutritional issues, resale of orthopedic equipment, and circulatory problems (each of which accounts for about 5% of industry revenue).

Among the common disorders podiatrists treat are ingrown toenails, corns, bunions, bone spurs, arch support, and heel ...

 
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