New York, April 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diabetic Foot Ulcer Treatment Global Market Report 2023" - https://www.reportlinker.com/p06451074/?utm_source=GNW
P. Inc., Organogenesis Inc., 3M Healthcare, Smith & Nephew PLC., ConvaTec Inc., Oneness Biotech Co. Ltd., Dipexium Pharmaceuticals Inc., ViroMed Co. Ltd., and FirstString Research Inc.
The global diabetic foot ulcer treatment market is expected to grow from $6.43 billion in 2022 to $6.93 billion in 2023 at a compound annual growth rate (CAGR) of 7.76%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diabetic foot ulcer treatment market is expected to reach $9.41 billion in 2027 at a CAGR of 7.93%.
The diabetic foot ulcer treatment market includes revenues earned by entities by ultrasound therapy, negative pressure wound therapy, and active therapies.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Diabetic foot ulcer refers to skin soreness with full-thickness skin loss on the foot due to neuropathic and vascular complications in patients suffering from diabetes mellitus, which slowdowns the healing process of sores and makes it prone to infection. Diabetic foot ulcer treatment is used to prevent, treat, and manage foot ulcers caused in diabetic patients to avoid amputation if neglected.
North America was the largest region in the diabetic foot ulcer treatment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the diabetic foot ulcer treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of diabetic foot ulcer treatment are wound care dressings, biologics, therapy devices, antibiotic medications, and other treatments.Wound care dressings refer to a sterile pad that is used to cover wounds to promote healing and protect them from further damage.
Wound care dressings are used to protect wounds to encourage a faster healing process.The main types of ulcer are neuropathic ulcers, ischemic ulcers, and neuro-ischemic ulcer categorised as grade 1, grade 2, grade 3, grade 4, grade 5.
The diabetic foot ulcer treatment is used by hospital, ambulatory surgery centre, and other end-users.
The increased number of diabetes patients is expected to propel the growth of the diabetic foot ulcer treatment market going forward.Diabetes is a metabolic illness with a long-term course that causes elevated blood glucose levels and, over time, causes substantial harm to the heart, blood vessels, eyes, kidneys, and nerves.
Diabetes is the leading cause of foot ulcers, leading to an increased demand for diabetic foot ulcer treatment. For instance, in 2022, according to Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people are suffering from diabetes which equals 11.3% of the United States population. Additionally, in December 2021, according to the International Diabetes Federation, a Belgium-based leading global diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. Therefore, the increased number of diabetes patients is driving the growth of the diabetic foot ulcer treatment market.
Technological advancement is a key trend in the diabetic foot ulcer treatment market.Major market players are focusing on innovative technologies such as cloud-based AI technology for the detection of diabetic foot ulcers.
For instance, in October 2021, Manchester Metropolitan University, a UK-based research university technology company, partnered with Oracle Corporation, US-based multinational computer technology, and database management company and introduced healthcare technology for diabetic foot problems known as FootSnap AI. FootSnap AI uses a mobile application that uses deep learning technologies to accurately detect ulcers on photos of a patient’s feet with high sensitivity (0.934) and specificity (0.911) in identifying images.
In October 2021, Bioventus Inc., a US-based company operating in active wound healing, acquired MISONIX Inc for an undisclosed amount. Through this acquisition, Bioventus Inc aims to strengthen its product portfolio in diabetic foot ulcer treatment and its active healing position. MISONIX Inc is a US-based company operating in ultrasonic surgical devices and diabetes foot ulcer treatment.
The countries covered in the Diabetic Foot Ulcer Treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The diabetic foot ulcer treatment market research report is one of a series of new reports that provides diabetic foot ulcer treatment market statistics, including diabetic foot ulcer treatment industry global market size, regional shares, competitors with a diabetic foot ulcer treatment market share, detailed diabetic foot ulcer treatment market segments, market trends and opportunities, and any further data you may need to thrive in the diabetic foot ulcer treatment industry. This diabetic foot ulcer treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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