Diabetic Foot Ulcers Market is projected to witness lucrative growth by reaching up to US$ 9,300.6 million by 2030
Diabetic Foot Ulcers Market Size:
The Global Diabetic Foot Ulcers Market reached US$ 5,812.7 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 9,300.6 million by 2030. The diabetic foot ulcers market is expected to exhibit a CAGR of 6.2% during the forecast period 2023-2030. A diabetic foot ulcer is an open sore or wound that occurs in roughly 15.1% of diabetic individuals and is most typically found on the bottom of the foot.
A diabetic foot ulcer is an open sore or wound that occurs in approximately 15 percent of patients with diabetes and is commonly located on the bottom of the foot. Six percent of those who develop a foot ulcer will be hospitalized due to infection or other ulcer-related complications.
Diabetes is the leading cause of nontraumatic lower extremity amputations in the United States, and approximately 14 to 24 percent of patients with diabetes who develop a foot ulcer have an amputation. Research, however, has shown that the development of a foot ulcer is preventable.
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Diabetic Foot Ulcers Market Drivers:
The aging population, rising diabetes incidence, and developments in wound care management technology are the main drivers propelling the growth of the diabetic foot ulcer treatment market. One major factor propelling the market is the increasing incidence of diabetes worldwide.
For example, according to the Centers for Disease Control and Prevention’s (CDC) 2022 National Diabetes Statistics Report, 130 million persons in the United States have diabetes or prediabetes. The demand for efficient diabetic foot ulcer treatment alternatives is growing in tandem with the rising incidence of diabetes.
Market Opportunities: Advancements in Technology Drive Excellent Opportunities
Technological advances offer great possibilities for treating diabetic foot ulcers. Diabetic foot ulcers are common and may cause long-term impairment and strain healthcare systems. Recent technical advances have revolutionized ulcer therapy using new methods. Biomaterials and advanced wound dressings are key advances. Traditional dressings have limitations in infection prevention, oxygenation, and moisture control.
Modern wound dressings, including hydrogels, foams, and films, have improved diabetic foot ulcer treatment. Telemedicine and remote monitoring have also changed diabetic foot ulcer therapy. Telemedicine lets doctors assess and monitor ulcers remotely, reducing hospital visits. Wearable sensors and smart insoles can detect pressure distribution and temperature, helping therapists adjust treatment regimens. Technology advances promise promising diabetic foot ulcer therapy.
Market Trends: New diabetic foot ulcer treatment clinics
Patients with diabetic foot ulcers benefit from advanced treatment choices and specialized care offered by the new clinics, enhancing their overall quality of life. Furthermore, the global rise in diabetes incidence has fuelled the need for diabetic foot ulcer treatments, developing the market.
For example, the Apollo Hospitals Group announced on August 19, 2023, the opening of Apollo Diabetic Foot Clinics to treat and prevent diabetic foot disease. By managing diabetes properly, the specialist clinics would assist in avoiding complications and aid in the early detection of indicators of a diabetic foot. The main goal would be to lessen the risk of lower limb amputations from diabetes, ulcers, and infections.
Market Segmentation Analysis:
The global diabetic foot ulcers market is segmented by product type into wound care dressing, biologics, and others; ulcer type into neuropathic ulcers and neuro-ischemic ulcers; and by end users into hospitals, clinics, ambulatory surgical centres, and home care settings.
Diabetic Foot Ulcer Market Insights
Based on the Product type, The wound care dressings segment dominated the market. The market segment is influenced by several key drivers, including the heightened focus on research and development (R&D) by market participants, the proliferation of technologically advanced product launches, the growing recognition of these products in emerging markets, and the notable rise in per capita healthcare expenditure. Moreover, wound dressings such as hydrocolloid or hydrogel dressings contribute to maintaining an optimal moisture equilibrium inside the wound by either collecting surplus exudate or supplying moisture to dry wounds. This facilitates the creation of a healing-friendly environment.
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Diabetic Foot Ulcer Market Geographical Analysis:
The global Diabetic Foot Ulcers Market is analyzed across North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
North America is the Largest Dominating Region during the forecast period.
North America has the largest share of the global diabetic foot ulcers market, accounting for around 37.7% over the projected period. This is attributed to increased R&D facilities, which have resulted in better treatment facilities, attracting patients.
Furthermore, the cost of therapy is rather considerable. Europe is the next big market because of its vast senior population. Due to a growth in the aging population and an increase in disease, the Asia-Pacific region has the fastest-growing market.
Competitive Landscape:
The major global players include ConvaTec Inc, Acelity LP Inc, 3M Healthcare, Organogenesis Inc, Coloplast Corp Smith & Nephew Plc, B Braun Melsungen AG Medline Industries Inc, Medtronic, Molnlycke Healthcare AB and others.
Key Developments
- In March 2023, Pune’s My lab partnered with UK firm to develop diabetic foot ulcer detection kitMy lab Discovery Solutions, and DNA Nudge, a pioneer in consumer genetics testing and medical diagnostics based in the United Kingdom, established strategic cooperation to create next-generation molecular diagnostic solutions for diabetic foot ulcer diagnosis and other major health issues. The diabetic foot ulcer detection kit is one of the world’s first point-of-decision molecular technology solutions, allowing doctors to plan suitable antimicrobial medication regimens by offering early identification of the spectrum of microbial flora in the ulcer.
- In October 2022, Healthium MedTech announced the launch of Theruptor Novo, a new wound dressing portfolio for the care of chronic wounds such as diabetic foot ulcers and leg ulcers. Theruptor Novo, according to the MedTech business, improves Healthium’s existing range of patented solutions in the advanced wound dressing area.
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