The increasing prevalence of diabetes is expected to drive the growth of Global Diabetic Foot Ulcer Treatment Market in the forecast period, 2024-2028.
According to TechSci Research report, “Global Diabetic Foot Ulcer Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Diabetic Foot Ulcer Treatment Market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the growing prevalence of diabetes and obesity types of chronic diseases among the aging population across the globe. Additionally, the growing geriatric population can spread different chronic diseases such as diabetes, and obesity along with advancing age, leading sedentary lifestyle and longer duration of diabetes mellitus can demand multiple treatment options by patients diagnosed especially in the developed countries in North America and Europe is expected to create lucrative opportunities for the market growth in coming years. Similarly, crowing technological advancements in treatment options in emerging countries will further boost market growth during the forecast period. Also, the availability of explicit dressings for a specific type of diabetic is expected to drive market growth during the forecast period.
However, high cost of the advanced wound care devices along with lack of reimbursement procedure for the treatment of diabetic foot ulcers in the developing countries slowing down the growth of global diabetic foot ulcer treatment market in the forecast period. Similarly, high risks and complications associated with treatments may hamper the diabetic foot ulcer treatment market growth during the forecast period. Also, lack of awareness regarding the advanced treatment in emerging countries can further restrict the growth of global diabetic foot ulcer treatment market.
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The global diabetic foot ulcer treatment market can be segmented by treatment, ulcer treatment, end user, and by region.
Based on treatment, the global diabetic foot ulcer treatment market can be segmented into Wound Care Dressings, Biologics, Therapy Devices, Antibiotic Medications, and Others. The wound care dressings segment dominates the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to increasing research and development by major market players and the rising launch of technologically advanced products which will help to enhance the demand for diabetic foot ulcer treatment. Also, the growing demand for lower healthcare costs for wound management along with reducing the healing time of the wound by using novel products will further propel the market growth during the forecast period.
Based on end user, the market can be segmented into Hospitals & Clinics, Ambulatory Care Centers, and Others The hospital segment is expected to dominate the market in 2022 and is expected to continue to maintain its dominance throughout the forecast period. This can be ascribed to the growing adoption rate of treatment options for diabetic foot ulcers in hospitals along with the growing number of hospitals and clinics across the region. Similarly, the presence of required facility-skilled staff and growing patient preference for hospitals due to favorable policies will further propel the market growth during the forecast period.
Major companies operating in the global diabetic foot ulcer treatment market are:
- 3M Company
- Medtronic Plc
- ConvaTec, Inc.
- Coloplast Corporation
- Smith & Nephew Plc
- B Braun Melsungen AG
- Medline Industries, Inc.
- Organogenesis, Inc.
- Molnlycke Health Care AB
- Acelity L.P., Inc.
In December 2019, Orpyx Medical Technologies Inc. launched a new product named as Orpyx SI Sensory Insoles with remote patient monitoring for the prevention of diabetic foot ulcer and neuropathy related ulcers.
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“North America is expected to dominate in The Global Diabetic Foot Ulcer Treatment Market on account due to the increasing prevalence of diabetic foot ulcers among the population across the region. Similarly, launched of a new medicine help manufacturers to reap good returns in the market which will further propel the market growth over the years. Furthermore, increasing advanced technology along with developing healthcare expenditure for the treatment of different types of ulcers are further contributing to the demand for diabetic foot ulcer treatment. Besides, the availability of skilled professionals, growing awareness about a new treatment for a diabetic foot ulcer, rapid urbanization, and modernization boosted the lifestyle practices of the people which has given rise to a number of chronic diseases and growing investment by government organizations in the healthcare sector in the region is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Diabetic Foot Ulcer Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Treatment (Wound Care Dressings, Biologics, Therapy Devices, Antibiotic Medications, Others), By Ulcer Treatment (Neuropathic Ulcers, Ischemic Ulcers, Neuroischemic Ulcers), By End User (Hospitals & Clinics, Ambulatory Care Centres, Others), By Region and Competition”, has evaluated the future growth potential of global diabetic foot ulcer treatment market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global diabetic foot ulcer treatment market.
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