Ottawa, July 20, 2022 (GLOBE NEWSWIRE) -- The global diabetic foot ulcer treatment market size was accounted at USD 9.13 billion in 2022. The aim of the diabetic foot ulcer treatment market is to provide the best possible services with the help of advanced medical technology to facilitate faster and better diabetic wound healing process. Diabetes has become one of the most common diseases that people are suffering with globally. As a result of the rapid modernization the food habits of the people have been altered negatively which is further clubbed with a faulty lifestyle. This in turn results in the creation of diabetes and further develops into a diabetic foot ulcer.
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A diabetic foot ulcer is very difficult to treat and more difficult to manage as it poses a number of complications in front of the medical fraternity. A proper judgement regarding the condition of the wound is essential as it decides the further course of treatment and prognosis of the case. An improper management of a diabetic foot ulcer leads to a bad prognosis which proves to be fatal for the patient.
Key Takeaways:
- The North America diabetic foot ulcer treatment market was reached at USD 3.8 bn in 2021
- The wound care dressing segment has garnered revenue share of 43% in 2021
- In 2021, Neuro-ischemic Ulcers segment has dominated the markets with revenue share of 45%
- North America contributed highest market share of over 53% in 2021
Report highlights
- By ulcer type, the neuropathic ulcers have dominated the market on account of its huge prevalence among the people. This condition cannot be managed at home as it leads to tremendous pain and discomfort.
- By type, advanced wound care has dominated the segment as a result of the use of modern technologies and advanced equipments in order to facilitate the process of wound healing and provide the best possible results to the patient.
- By End User, the hospitals have dominated the segment as it becomes the first place where the patient visits during the occurrence of a diabetic foot ulcer. The hospitals provide various other facilities which make it a first choice of the patient in order to avoid further discomfort.
- By geography, the North American market has dominated the segment due to the high prevalence of diabetes among the citizens. As a result of this, the prevalence of diabetic foot ulcer also increases in the region.
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Regional Snapshots
The North American market has dominated the diabetic foot ulcer treatment market as a result of the huge number of people suffering with this disease. The faulting food habits of the people in the sedentary lifestyle increase the number of patients suffering with diabetes. The Asia Pacific region also has shown a significant contribution towards the diabetic foot ulcer market as a result of the high number of people suffering with diabetes in this region.
The Asia Pacific region is rapidly developing and hence the number of industries and IT companies have increased which results into a sedentary lifestyle of the people. As a result of this, obesity and diabetes have become the most common diseases in this region. The European market has also shown a considerable growth on account of the advanced facilities provided to the people by the hospitals in order to manage diabetic foot ulcers.
Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 8.6 Billion |
| Revenue Forecast by 2030 | USD 14.8 Billion |
| CAGR | 6.22% from 2022 to 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Demant A/S, Starkey Laboratories, Inc., Cochlear Ltd., RION Co., Ltd, Microson, GN Store Nord A/S, Sonova Group |
Market Dynamics
Drivers
The rapid urbanization global has resulted into sedentary lifestyles and faulty food habits amongst the people. This has resulted into obesity and diabetes among the people belonging to various age groups. Not only the geriatric population but also the younger age groups are at a great risk of developing diabetes. Diabetic foot ulcer is a complicated diseases which is a bad prognosis of a case of uncontrolled diabetes. Lack of physical activity and awareness among the people regarding the causative factors of diabetes have led to the increased prevalence of the disease among the people. These multiple reasons prove to be the driving factors for the growth of the market during the forecast period.
Restraints
The high cost which is associated with the use of highly advanced medical equipments and medicines in the treatment of diabetic foot ulcer makes it unaffordable for the common man to opt for such procedures. The people belonging to the developing and under developed countries do not have a huge to disposable income in order to spend it on advanced treatment facilities which hamper is the growth of the diabetic foot ulcer treatment market. Rules and regulations regarding the management of the patients and such procedures have also impacted the growth of the market. Lack of awareness among the people regarding the available facilities of diabetic foot ulcer treatment restraints the growth of the market. These multiple reasons prove to be a restraining factor for the market during the forecast period.
Opportunities
The high preference of diabetes among the people belonging to the developed nations has proved to be a great opportunity for the diabetic foot ulcer treatment market. The increasing sedentary habits of the people which is combined with their faulty eating habits hampers the glucose regulations resulting into uncontrolled diabetes. This benefits the growth of the diabetic foot ulcer market which is looked forward to for providing advanced treatment options. The multiple facilities provided by the hospital sector has boosted the number of people opting for diabetic foot ulcer treatment. These factors have provided multiple opportunities for the market to record a considerable growth during the forecast period.
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Challenges
Lack of skilled labour force in the health care sector has hampered the growth of the market. People are worried regarding their already sensitive condition as a result of uncontrolled diabetes and it's complications which can be worsened by the absence of a skilled medical staff. Lack of disposable income among the people has hampered the growth of the market due to the presence of a very few people opting for advanced treatments. Due to the occurrence of the pandemic the growth of the market was challenged as a result of the constant lockdowns and restrictions. These multiple reasons prove to be the challenging factors for the market during the forecast period.
Market Segmentation
By Type
- Advanced Wound Care
- Biologics
- Dressings
By Ulcer Type
- Neuropathic Ulcers
- Neuro-ischemic Ulcers
- Ischemic Ulcers
By Grade
- Grade 1
- Grade 2
- Grade 3
- Grade 4
- Grade 5
By Treatment Type
- Wound Care Dressings
- Wound Care Devices
- Active Therapies
- Others
By End User
- Hospitals
- Home Care
- Ambulatory Surgical Center
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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