Diabetic Foot Ulcers Treatment Market is in trends by rising incidences of diabetes
Diabetic Foot Ulcers Treatment Market is in trends by rising incidences of diabetes
Blog Article
If left untreated, these ulcers can worsen and potentially lead to limb amputation. Treatment for diabetic foot ulcers involves regular cleaning and dressing of wounds, offloading pressure from sensitive areas, controlling infection through antibiotics if needed, and treating underlying complications like peripheral artery disease. Wound care products play a vital role in cleaning wounds, removing dead or infected tissue, promoting new tissue growth, and protecting ulcers from outside contamination or friction during the healing process. Advanced wound care devices and therapies utilizing bioactive solutions, skin/soft tissue grafts, and hyperbaric oxygen therapy are also seeing increasing adoption for treatment of non-healing or chronic diabetic foot ulcers.
The Global Diabetic Foot Ulcers Treatment Market is estimated to be valued at US$9.5 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Diabetic Foot Ulcers Treatment are Smith & Nephew, Molnlycke Health Care, ConvaTec, Coloplast, Medtronic, B. Braun Melsungen AG, Cardinal Health, 3M Healthcare, Acelity L.P Inc.
The growing demand in the Diabetic Foot Ulcers Treatment Market Size can be attributed to the rising prevalence of diabetes globally. According to the International Diabetes Federation (IDF), approximately 463 million adults were living with diabetes in 2019, with the numbers expected to rise to 578 million by 2030. Diabetic foot ulcers are a major complication of diabetes and long-term hyperglycemia exposure. Around 15%–25% of diabetes patients develop foot ulcers during their lifetime.
The market is also witnessing expansion into new geographical regions on account of increasing awareness regarding proper wound and foot care management among diabetic patients. Emerging countries in Asia Pacific and Latin America provide lucrative growth opportunities due to rising healthcare spending levels and growing adoption of advanced wound management protocols in these regions.
Market Key Trends
Chronic wounds that fail to heal account for a significant disease burden and healthcare costs associated with diabetes. Novel drug formulations and cell/tissue-based therapies are revolutionizing the management of non-healing diabetic foot ulcers. For instance, emerging therapies utilizing stem cells, growth factors, and skin substitutes engineered with active ingredients are demonstrating positive clinical outcomes in expediting wound closure. Platelet-rich plasma (PRP) therapy that harnesses the wound healing properties of blood platelets is also gaining popularity. With further research and commercialization efforts, these new treatment modalities have the potential to transform standards of care and outcomes for diabetics suffering from difficult-to-treat foot ulcers.
Porter’s Analysis
Threat of new entrants: Low cost of entry through generic drugs but established brands continue dominance.
Bargaining power of buyers: Large purchasing power of hospitals and pharmacy chains enables negotiations on prices and discounts.
Bargaining power of suppliers: Established medical technology companies are major suppliers with significant influence on pricing and innovations.
Threat of new substitutes: Continuous research on alternatives like stem cell therapy and tissue engineering pose threats but are still in early stages.
Competitive rivalry: Intense competition between leading players to expand their product portfolios and geographic presence through mergers and acquctions.
Geographical regions
North America has been the largest market for diabetic foot ulcers treatment historically, accounting for over 40% of global market value, led by a large patient pool and higher adoption of advanced wound care therapies in the U.S. and copyright.
Asia Pacific region is poised to witness the fastest CAGR during the forecast period, with China and India becoming major contributors. This can be attributed to improving access to healthcare, increasing diabetes prevalence caused by changing lifestyles and rising disposable incomes in emerging Asian countries.
Get more insights on - Diabetic Foot Ulcers Treatment Market
Discover the Report for More Insights, Tailored to Your Language.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, con
Report this page