According to our latest study on “Diabetic Foot Ulcer Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis” the market is expected to grow from US$ 7,470.60 million in 2022 and is expected to reach US$ 12,242.77 million by 2030; it is anticipated to record a CAGR of 6.4% from 2022 to 2030. The report highlights the key factors driving the diabetic foot ulcer market growth and prominent players with their developments in the market.
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Diabetic foot ulcer is a type of chronic wound that often leads to complications and challenges surgeons to manage such injuries. Diabetic foot ulcer leads to full thickness skin loss on the foot due to neuropathic and/or vascular complications in patients with type 1 or type 2 diabetes mellitus. Diabetic patient who uses insulin are at a higher risk of developing a foot ulcer.
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. 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 the same segment is anticipated to register the highest CAGR from 2022 to 2030. Neuro-ischemia predominately leads to the development of ulcers on the foot, toes, and dorsum margins, especially on pressure sites occurring among people using poorly fitting shoes. The management of such types of wounds is comparatively complex and the wound requires prompt care, appropriate footwear, offloading, dressings, and infection treatment.
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 the same segment is anticipated to register the highest CAGR from 2022 to 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 the same segment is anticipated to register the highest CAGR from 2022 to 2030.
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 leading companies operating in the global diabetic foot ulcer market.
Companies operating in the diabetic foot ulcer market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the diabetic foot ulcer market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall diabetic foot ulcer market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.
A few of the significant developments by key market players are listed below.
• In January 2023, Convatec announced the launch of ConvaFoam, a family of advanced foam dressings designed to address the needs of healthcare providers and their patients. ConvaFoam can be used on a spectrum of wound types at any stage of the wound journey, making it the simple dressing choice for wound management and skin protection.
• In August 2022, Organogenesis announced it had received U.S., Food and Drug Administration (FDA) 510k Clearance for PuraPly MZ, a brand extension to the PuraPly product portfolio. Securing FDA Clearance for PuraPly MZ is a significant milestone for the company.
• In July 2022, Smith+Nephew announced the launch of the WOUND COMPASS Clinical Support App. It is a comprehensive digital support tool for healthcare professionals that aids wound assessment and decision-making to help reduce practice variation. The App helps improve nurse confidence when assessing and treating wounds and reassuring specialist nurses that their formulary is followed.
• 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.
• In August 2021, URGO Medical announced a partnership with Diabetes Feet Australia (DFA). As part of their charter, DFA has worked to develop evidence-based Australian guidelines for diabetes-related foot disease to serve as the new national multi-disciplinary best practice standards of care for providing DFD care within Australia.
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