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Dec-2021

Diabetic Foot Ulcer Treatment Market Size To Grow USD 2.79 Bn By 2026

North America ruled major share in the global diabetic foot ulcer treatment market in 2020.

As per our research report, the global diabetic foot ulcer treatment market is forecasted to be worth USD 2.79 billion by 2026 from USD 1.56 billion in 2021, growing at a CAGR of 12.33% during the forecast period.

The diagnosis and treatment of chronic have been severely affected by the sudden onset of a pandemic due to sudden changes in the health infrastructure. As anticipated, patients suffering from long-term diseases, co-morbidities, and weak immunity are more susceptible to coronavirus and, hence, were suggested to stay at home. In addition, people who had COVID-19 had higher sugar levels due to the use of immune-suppressive drugs, which made them vulnerable to various wounds such as diabetes, foot ulcers, and bedsores. There has been a significant decrease in the number of treatments provided during the pandemic. However, although the market is currently affected, it is anticipated to recover during the forecast period due to advancements in technology.

The growth of the global DFU treatment market is mainly attributed to key factors such as the increasing prevalence of diabetes and associated chronic wounds and the increasing geriatric population. An older person is a definitive group of 65 and over who are susceptible to chronic disease. The aging of the population is observed significantly in the Americas, Europe, and APAC regions. For instance, according to Eurostat statistics, more than 20.55% of the European population was in the 65 and over age group in 2019. This figure is predicted to reach a significantly high level in 2050. In addition, according to a United Nations Report, in 2019, there were reported to be over 975 million people aged 60 and over globally, representing 15% of the global population. In addition, the high market penetration of significant players increased awareness of treatment options, and the booming healthcare industry is also anticipated to influence the growth of the market positively. Several clinical trials are underway, and many companies are actively participating in expanded research programs to develop new therapies for the treatment of DFU.

People at increased risk for diabetes have alarming hospitalization rates due to infection with a diabetic foot ulcer. Moreover, chronic wounds are likely to severely affect the quality of life and a higher rate of cellulitis, fasciitis leading to amputations. Hence, these factors are driving the growth of the market.

However, the high cost of advanced treatments for diabetic foot ulcers is hampering the market's growth. For example, according to Therapeutic Advances in Endocrinology and Metabolism, the total medical cost for managing diabetic foot disease ranges from USD 9.56 billion to USD 15.54 billion in the United States. Meanwhile, this market will be severely affected due to the lack of good reimbursement policies. As a result, the patient has to pay treatment costs out of pocket, especially in underdeveloped and developing nations. Additionally, a lack of awareness of specific treatment options, especially in emerging economies, is anticipated to limit the DFU treatment market growth.

KEY MARKET INSIGHTS:

Based on product type, the advanced wound dressing segment is anticipated to dominate the DFU treatment market during the forecast period. Major market players are adopting inorganic strategies to drive the growth of this segment. The Biologics segment is anticipated to register the highest CAGR, owing to increased research and development activities, wide adoption of various products, and the emergence of new product launches for the treatment of DFUs.
Based on ulcer type, the neuroischemic ulcers segment is anticipated to have the largest market share, which is attributed to the increasing prevalence of diabetes. According to a report released by the CDC in 2019, more than 150 million adults in the United States suffer from prediabetes or diabetes, where between 60% and 70% of people with diabetes have diabetic neuropathy each year. Neuropathic ulcers are caused by repeated stress on the feet, leading to reduced sensation resulting in complications like kidney failure and trauma.
Based on the region, North America had the largest share in the global diabetic foot ulcer treatment market and is also anticipated to dominate the overall market during the forecast period. The increasing efforts in research and development to prevent diabetic compilations and the focus by leading companies on better products drive the market in this region. In addition, other factors like high population and income base and well-developed medical facilities will also help the market grow. Meanwhile, Asia-Pacific presents lucrative opportunities for major players operating in this market due to increased awareness of the disease, supportive government activities, improved health infrastructure, and intensification of health reforms.
A few of the major players operating in the global diabetic foot ulcer treatment market include ConvaTec Inc., Acelity LP Inc., 3M Healthcare, Coloplast A / S, Smith and Nephew, B. Braun Melsungen AG, Medline Industries, Inc., Medtronic Plc., Organogenesis Inc., Molnlycke Health Care AB, BSN Medical GMBH, among others.

MARKET SEGMENTATION:

By Product Type: