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The diabetic foot ulcers treatment market has been gaining significant traction over the recent past owing to the rising prevalence of diabetes worldwide. Diabetic foot ulcers refer to open sores or wounds that occur on the feet of people suffering from diabetes as a result of neuropathy or decreased blood flow. If left untreated, these foot ulcers can become severely infected and may eventually require limb amputation. The global market for diabetic foot ulcer treatment has witnessed robust growth driven by the increasing need for advanced treatment options such as bioactive therapies, skin grafts, growth factors and negative pressure wound therapy devices.
The Global diabetic foot ulcers treatment market is estimated to be valued at US$ 7.72 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the diabetic foot ulcers treatment are 3M Healthcare, Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris Inc., Acelity L.P. Inc., Osiris, Molnlycke Health Care AB, Alkem Laboratories Ltd., Healthium Medtech, Kerecis, Podimetrics, Carmell Corporation, Paracrine, Inc., VIVEX Biologics, Inc., and PolarityTE, Inc.
The market presents significant growth opportunities due to the rising awareness regarding advanced treatment options and growing need for fast healing solutions. Emerging wound care technologies including bioengineered skin substitutes, tissue-engineered skin and growth factors are expected to gain traction in the market.
Advances in wound dressing technology including foam dressings, film dressings, collagen dressings, and hydrocolloid dressings have provided improved treatment outcomes for diabetic foot ulcers, contributing to market growth.
Market drivers:
The key drivers propelling the growth of the diabetic foot ulcers treatment market are rising global prevalence of diabetes, growing geriatric population, advancement in wound care management, increasing awareness regarding diabetic foot complications, and favorable reimbursement policies for wound care therapies and products. According to International Diabetes Federation, around 537 million adults were living with diabetes in 2021 globally and the number is projected to reach 643 million by 2030. The increase in obese and sedentary population worldwide has significantly contributed to the rising incidence of diabetes.
Current challenges in Diabetic Foot Ulcers Treatment Market
Diabetic foot ulcers can be challenging to treat due to various factors like poor circulation, neuropathy, high blood sugar levels, weakness in muscles, and difficulty in wound healing in patients suffering from diabetes. With growing incidences of diabetes globally, the cases of diabetic foot ulcers are also increasing posing treatment challenges like risk of infection, requirement of long term treatment, and high rate of amputations. Moreover, lack of awareness about proper foot care among public and limited availability of advanced wound care products in some countries further add to the treatment challenges in this market.
SWOT Analysis
Strength: Multiple treatment options available including wound dressings, bioactive therapies, skin grafts etc. Presence of several leading players with strong product portfolio.
Weakness: High cost of advanced therapies limits their widespread use. Complexity of treatment often requires multidisciplinary approach and prolonged care.
Opportunity: Growing diabetes prevalence worldwide presents large patient pool. Launch of new technologies and innovations can help address unmet needs.
Threats: Risk of infection delays healing. Patients non-compliance to treatment impacts efficacy. Reimbursement issues in some regions restrict market growth.
Geographical Regions with High Market Value
North America region currently holds the major share of diabetic foot ulcers treatment market in terms of value owing to factors like rising diabetes incidence, availability of advanced products and professional workforce, and favorable reimbursement structure. The United States contributes significantly to high market value in North America region.
Fastest Growing Geographical Region
Asia Pacific region is poised to be the fastest growing market for diabetic foot ulcers treatment during the forecast period. This is due to large patient population base especially in India and China coupled with growing healthcare sector, rising healthcare spending, and increasing awareness about availability of treatment options in these countries.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
