Diabetic Foot Ulcer Market Size Worth $7,793.83 Mn, Globally, by 2028 at 7.9% CAGR

The Insight Partners

The diabetic foot ulcer market size is expected to reach $7,793.83 million by 2028 from $4,279.65 million in 2020; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

New York, Feb. 11, 2022 (GLOBE NEWSWIRE) — The latest research study on “Diabetic Foot Ulcer Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Advanced Wound Care Dressings, Biologics, and Therapy Device), Ulcer Type (Neuropathic Ulcers, Ischemic Ulcers, and Neuro-Ischemic Ulcers), and End User (Hospitals, Ambulatory Surgery Centers, and Home Care)”, published by The Insight Partners. The diabetic foot ulcer market growth is attributed to the increasing prevalence of diabetes and related chronic wounds and rise in the geriatric population. However, the high cost of advanced wound care treatments is a key factor restraining the market growth.

Diabetic Foot Ulcer Market: Competition Landscape and Key Developments
ConvaTec Inc; 3M Company (Acelity L.P. Inc.); Coloplast A/S; Smith & Nephew plc; B. Braun Melsungen AG; Medline Industries, Inc; Cardinal Health Inc; Organogenesis Holdings Inc; Mölnlycke Health Care; MiMedx Group, Inc; Kerecis hf, and URGOare among the key companies operating in the 3D printed drugs market. These players are focusing on the expansion and diversification of their market presence and the acquisition of a new customer base, thereby tapping prevailing business opportunities.

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In January 2020, ConvaTec Group Plc has launched ConvaMax the new superabsorber dressing. ConvaMax superabsorber wound dressing is used for the management of highly exuding wounds, including leg ulcers, pressure ulcers, diabetic foot ulcers and dehisced surgical wounds.

In September 2020, MiMedx Group, Inc. has launched EpiCord expandable placental allograft. EpiCord has demonstrated clinical efficacy in the treatment of diabetic foot ulcers.

In July 2018, ConvaTec Group Plc received U.S. Food and Drug Administration (FDA) 510(k) approval for its AQUACEL Ag Advantage dressing for wound management. AQUACEL Ag Advantage dressing is currently available in markets across Europe and Asia Pacific.

The North American region holds the largest market share and is expected to grow during the forecast years. The market growth in North America is attributed to rising prevalence of diabetic foot ulcers, rising incidence of diabetes and availability of advanced treatment for diabetic foot ulcer. The Centers for Disease Control and Prevention (CDC), in 2017, National Diabetes Statistics Report stated that nearly 23 million people in the US had diabetes, of which type 1 diabetes accounted for nearly 5% to 10%, or nearly 1.2 to 2.3 million people. Of people with type 2 diabetes, nearly 14%, or 3.2 million people, manage their diabetes with insulin only.

Further, as per the American Podiatric Medical Association, Diabetes is the leading cause of lower extremity amputations in the US, and around 14-24% of patients with diabetes who develop foot ulcer will require an amputation.

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Availability of advanced treatment for diabetic foot ulcer is likely to enhance the market growth. For instance, in December 2017, the U.S. Food and Drug Administration approved the marketing of the Dermapace System, the first shock wave device intended to treat diabetic foot ulcers. The recent years have reported various joint ventures and collaborations to develop diabetic foot ulcer product in the US. For instance, in 2020, six US research institutions launched the first-ever multicenter network to study diabetic foot ulcers in the United States. This program is funded by the National Institutes of Health.

The Asia Pacific region is expected to be the fastest-growing region among all other regions. The growth of the market is driven by rising prevalence of diabetic foot ulcer and technological advancement in treatment options and rapidly growing geriatric population in Asia pacific region.

Increasing Prevalence of Diabetes and Related Chronic Wounds in Diabetic Foot Ulcer Market:

Depending on time taken to heal, wounds can be classified as acute and chronic. Diabetes has emerged as one of the most impactful health emergencies of the world in the 21st century. As per the National Diabetes Statistics Report 2020, ~34.2 million people in the US have diabetes, and the diabetic population accounts for ~10.5% of the overall US population. According to the International Diabetes Federation (IDF), the number of people with diabetes in North America was ~46 million in 2017, and it is expected to reach 62 million by 2045, with the disease prevalence of ~35% during 2018–2045. Diabetes affects many parts of the body, particularly the feet. Diabetic foot ulcers are sores developed on feet; they can also develop from seemingly trivial injuries to the feet. Diabetic foot ulcers are the common causes of amputation due to diabetes. According to a report published in the International Journal of Endocrinology in 2017, ~15–25% of patients with diabetes are susceptible to foot ulcers during their lifetime. The risk of developing diabetic foot ulcers in patients diagnosed with diabetes is anticipated to be ~2%; however, in patients with a previous history of foot ulceration, this risk is expected to increase to 17–60% over the next three years. ~20% of hospital admissions in people with diabetes are because of foot ulcers.

As there are continuous occurrences of injuries caused due to diabetes in low- and medium-income, and high-income countries, the demand for Diabetic Foot Ulcers is on rise.

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Diabetic Foot Ulcer Market: Segmental Overview
Based on type, is segmented into advanced wound care dressings, biologics and therapy device. The advanced wound care dressings segment accounted for more than 44.35% of the market share in 2020. In terms of ulcer type, is segmented into neuropathic ulcers, ischemic ulcers, neuro-ischemic ulcers. The neuropathic ulcers segment held the largest share of the market in 2020. In terms of end user, the Diabetic Foot Ulcer market has been segmented into ambulatory surgical centers, hospitals and home care. The hospital segment held the largest share of the market in 2020.

The COVID-19 outbreak has disturbed various trades and businesses across the world. The pandemic is straining public health systems globally, interrupting and delaying many kinds of critical health care. A recent survey by the World Health Organization found that health services are among the most frequently disrupted. 7 in 10 countries around the world are experiencing disruptions along with United states, Canada, and Mexico.

However, as vaccines become available in 2021 the demand for wound care products is expected to increase. As treatment of chronic wounds like diabetic foot ulcer is essential for patients to ensure it is on the correct trajectory to heal, generally clinicians treat chronic wounds at least once a week to assess the progress of the wound. The American Medical Association has recommended to establish hospital-based outpatient wound center and home-based treatment options to manage and treat chronic wounds like diabetic foot ulcers. This is expected to increase the demand for treatment products that can be used at home as well as at outpatient centers. This is likely to favor the growth of Diabetic Foot Ulcer products.

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