The global diabetic foot ulcer treatment market is experiencing growth due to several factors, including an increase in the prevalence of diabetic foot ulcer cases, technological advancements in wound care management, and a rise in new product launches for diabetic foot ulcer treatment.
PORTLAND, Ore., July 10, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Diabetic Foot Ulcer Treatment Market by Product (Wound Care Dressings, Wound Care Devices, Biologics, and Others), Type (Neuropathic Ulcers, Ischemic Ulcers, and Neuroischemic Ulcers), and End User (Hospital, Homecare Settings, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global diabetic foot ulcer treatment market was valued at $4.4 billion in 2022 and is estimated to reach $7.4 billion by 2032, exhibiting a CAGR of 5.4% from 2023 to 2032.
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Prime Determinants of Growth:
The global diabetic foot ulcer treatment market is experiencing growth due to several factors, including an increase in the prevalence of diabetic foot ulcer cases, technological advancements in wound care management, and a rise in new product launches for diabetic foot ulcer treatment. However, stringent regulations for the manufacturing of wound care dressings and devices are hampering the growth of the diabetic foot ulcer treatment market. On the other hand, the growth opportunities in emerging countries are expected to offer remunerative opportunities for the expansion of the diabetic foot ulcer treatment market in the upcoming years.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $4.4 Billion |
Market Size in 2032 | $7.4 Billion |
CAGR | 5.4 % |
No. of Pages in Report | 296 |
Segments Covered | Product, Type, End User, and Region |
Drivers | Increase in the prevalence of diabetic foot ulcers |
Technological advancements in wound care management | |
Rise in new product launches for diabetic foot ulcer treatment | |
Opportunities | Growing opportunity in emerging markets |
Restraints | Stringent regulations for the manufacturing of wound care products |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the global diabetic foot ulcer treatment market. Because it led to disruptions in healthcare systems worldwide, routine diabetic foot ulcer care and follow-up visits were postponed or canceled in many healthcare settings.
- In addition, many patients with diabetic foot ulcers avoided seeking medical attention or delayed their visits to healthcare facilities due to fear of exposure to the virus. As a result, the diagnosis rates of new cases may have decreased during the pandemic. Delayed diagnosis can lead to more severe ulcers and increased treatment challenges, such as amputation procedures.
- However, as healthcare systems resumed normal operations and the pandemic situation recovered, there was a shift towards outpatient care centers which play a crucial role in providing specialized care while reducing the burden on hospital resources.
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The wound care dressings segment to maintain its leadership status throughout the forecast period-
By product, the wound care dressings segment held the largest share in 2022, accounting for more than three-fifths of the global diabetic foot ulcer treatment market revenue, and is expected to maintain its leadership status throughout the forecast period. owing to the rise in the number of key players offering advanced wound care dressings, the rise in regulatory approvals, and the growing awareness about wound care dressings in diabetic foot ulcer treatment. On the other hand, the wound care devices segment is projected to manifest the highest CAGR of 6.1% during the forecast period. Due to the rise in the adoption of wound care devices, ongoing advancements in wound care devices, and the demonstrated effectiveness of devices in promoting faster healing.
The neuroischemic segment to maintain its lead position during the forecast period-
By type, the neuroischemic segment held the largest share in 2022, accounting for nearly half of the global diabetic foot ulcer treatment market revenue, and is expected to maintain its lead position during the forecast period. The same segment would also display the highest CAGR of 5.8% from 2023 to 2032. The growth is attributed to the increasing prevalence of neuroischemic ulcers in the diabetic population.
The homecare settings segment to rule the roost by 2032-
By end user, the homecare settings segment accounted for the largest share in 2022, accounting for nearly half of the global diabetic foot ulcer treatment market revenue, and is projected to rule the roost by 2032. The same segment would also cite the fastest CAGR of 5.8% during the forecast period. owing to the shift in diabetic foot ulcer treatment to homecare settings and the adoption of telemedicine and remote care technologies. In addition, many individuals with diabetic foot ulcers receive ongoing care and treatment at home, facilitated by healthcare professionals or carers, which provides convenience and comfort for patients while reducing the burden on healthcare facilities.
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North America to maintain its dominance by 2032-
By region, North America held the major market share in 2022, accounting for nearly two-fifths of the global diabetic foot ulcer treatment market revenue, and is likely to maintain its dominance by 2032. owing to the rise in the prevalence of diabetic foot ulcers, the availability of well-developed healthcare infrastructure such as specialized wound care centers and diabetic clinics, and the growing emphasis on early detection and comprehensive management of diabetic foot ulcers. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.4% from 2023 to 2032, Owing to the rising prevalence of diabetes, increasing healthcare expenditure, and increasing awareness about the importance of early detection and treatment of diabetic foot ulcers, which are also expected to boost market growth.
Leading Market Players: -
- Convatec Group Plc
- 3m Company
- Cardinal Health Inc.
- Organogenesis Holdings Inc.
- Smith and Nephew Plc.
- B. Braun Se
- Coloplast
- Integra Lifesciences Holdings Corporation
- Molnlycke Health Care AB
- Essity Aktiebolag AB
The report provides a detailed analysis of these key players in the global diabetic foot ulcer treatment market. These players have adopted different strategies such as acquisition, contract, product launch, and product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering impact of Covid-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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