Advanced Wound Care Dressings Segment, by Treatment Type, to Dominate Diabetic Foot Ulcer Market During 2022–2030
According to our new research study on "Diabetic Foot Ulcer Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," the diabetic foot ulcer market size is expected to grow from US$ 7,470.60 million in 2022 and to reach a value of US$ 12,242.77 million by 2030; it is anticipated to record a CAGR of 6.4% from 2022 to 2030. Key factors driving the diabetic foot ulcer market growth are high prevalence of diabetes and related chronic wounds and surge in geriatric population. However, the high cost of advanced wound care treatments hinders the diabetic foot ulcer market growth.
Diabetic foot ulcer is a type of chronic wound that often leads to complications and challenges surgeons to manage such injuries. With the significant growth in the patient pool suffering from chronic wounds, such as diabetic foot ulcers, the need for a systematic treatment approach has been accelerated, encouraging the adoption of evidence-based treatment to make wound care effective. Several research and clinical trials related to chronic wound management have demonstrated that bioactive wound care products help heal moist wounds more effectively than traditional wound care products. The active participation of government bodies and research organizations is promoting advancements in wound care treatments. For instance, in June 2021, Cynata Therapeutics Limited, an Australian clinical-stage stem cell and regenerative medicine company, signed a license agreement with TekCyte to advance clinical trials in diabetic foot ulcers. In December 2021, a clinical trial on its Cymerus mesenchymal stem cell product used to treat diabetic foot ulcers was launched by Cynata Therapeutics. Similarly, in June 2022, Smith+Nephew announced a new R&D facility for its advanced wound management franchise on the outskirts of Hull, UK. Smith+Nephew invested over US$ 100 million to create a world-class R&D and flexible office environment. A grant from the UK government also supports the development. Thus, the growing research activities and initiative by players will provide lucrative opportunities for the diabetic foot ulcer market growth.
Diabetic Foot Ulcer Market, by Geography, 2022 (%)
Diabetic Foot Ulcer Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Coverage: Ulcer Type (Neuropathic Ulcers, Ischemic Ulcers, and Neuro-ischemic Ulcers), Treatment Type (Advanced Wound Care Dressings, Biologics, and Therapy Device), Infection Severity (Moderate, Mild, and Severe), End User (Hospitals, Ambulatory Surgery Centers, and Home Care), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Diabetic Foot Ulcer Market Growth Report | Size & Share 2030
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Source: The Insight Partners Analysis
Convatec Group Plc, 3M Co, Coloplast AS, Smith & Nephew Plc, B. Braun SE, Molnlycke Health Care AB, MiMedx Group Inc, URGO MEDICAL Australia Pty Ltd, Medline Industries LP, and Organogenesis Inc are among the key companies operating in the diabetic foot ulcer market. The companies have been implementing various strategies that contribute to their growth and lead to various changes in the market. The companies have utilized both organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as product launches, partnerships, and collaborations).
For instance, in March 2022, Convatec entered the attractive wound biologics segment by acquiring Triad Life Sciences Inc. The company develops biologically derived innovative products to address unmet clinical needs in surgical wounds, chronic wounds, and burns.
The report segments the diabetic foot ulcer market as follows:
The global diabetic foot ulcer market, by treatment type, is segmented into advanced wound care dressings, biologics, and therapy device. The advanced wound care dressings segment held the largest market share in 2022. Major benefits of advanced wound care dressings over traditional methods are associated with the use of gauze and tape. These components of advanced wound care dressings aid in faster healing with fewer issues regarding drainage, and lower risk of accompanying infection. The biologics segment is anticipated to register the highest CAGR during 2022–2030.
The global diabetic foot ulcer market, by ulcer type, is segmented into neuropathic ulcers, ischemic ulcers, neuro-ischemic ulcers. The neuro-ischemic ulcers segment held the largest market share in 2022 and is anticipated to register the highest CAGR from 2022 to 2030.
The global diabetic foot ulcer market, by infection severity, is segmented into moderate, mild, and severe. The mild segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030. The global diabetic foot ulcer market, by end user, is segmented into ambulatory surgical centers, hospitals, and home care. The hospital segment held the largest market share in 2022 and segment is anticipated to register the highest CAGR from 2022 to 2030.
Based on geography, the diabetic foot ulcer market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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