The Global Diabetic Foot Ulcer Treatment Market, By Product (Advance Wound Dressings, Skin Substitutes, Growth Factors, Negative Pressure Wound Therapy Devices, and Other Devices), By Ulcer Type (Neuropathic Ulcers, Ischemic Ulcers, and Neuro-ischemic Ulcers), By End User (Hospital, Specialty Clinics, Long Term Care Centers, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 7.72 Bn in 2023 and is expected to exhibit a CAGR of 10.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of new products, which will drive the global diabetic foot ulcer treatment market. For instance, in January 2022, Alkem Laboratories Ltd. (Alkem), an Indian multinational pharmaceutical company, announced the launch of a unique patented technology for the treatment of diabetic foot ulcers (DFU) in India. The solution would be based on disruptive 4D Bioprinting technology, which would be used to treat deep, non-healing chronic wounds.
Global Diabetic Foot Ulcers Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
COVID-19 had a positive impact on the global diabetic foot ulcer treatment market. For instance, The Cureus Journal of Medical Science 2023 published a study that aimed to determine the impact of the COVID-19 outbreak on patients with diabetic foot (DF). The result showed that the COVID-19 pandemic was not associated with excess amputations or a high mortality rate, as the management during the pandemic showed adequate diabetic foot care by improving the prevention methods through hospital protocol restrictions and facilitating access to virtual clinics.
Global Diabetic Foot Ulcers Treatment Market: Key Developments
On March 13, 2023, DnaNudge, the U.K. based pioneer of lab-free consumer genetics testing and medical diagnostics solutions, announced a strategic partnership with India’s leading biotech company, Mylab Discovery Solutions, an India diagnostic company, to develop next-generation molecular diagnostics for diabetic foot infections and other key health conditions. The first delivery from this landmark partnership is an innovative diabetic foot ulcer detection kit to help clinicians rapidly identify bacteria involved in infections and optimally treat patients at the point of decision, reducing the risks of acute complications, limb amputation, and antimicrobial resistance (AMR).
In October 2022, Healthium Medtech, a global medtech company, launched a new wound dressing portfolio, Theruptor Novo, for the management of chronic wounds like diabetic foot ulcers and leg ulcers. With the launch of Theruptor Novo, Healthium strengthens its existing portfolio of patented products in the advanced wound dressing segment.
Browse 27 Market Data Tables and 31 Figures spread through 188 Pages and in-depth TOC on “Global Diabetic Foot Ulcers Treatment Market”- Forecast to 2030, Global Diabetic Foot Ulcers Treatment Market, By Product (Advance Wound Dressings, Skin Substitutes, Growth Factors, Negative Pressure Wound Therapy Devices, and Other Devices), By Ulcer Type (Neuropathic Ulcers, Ischemic Ulcers, and Neuro-ischemic Ulcers), By End User (Hospital, Specialty Clinics, Long Term Care Centers, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/diabetic-foot-ulcers-treatment-market-1357
Key Takeaways of the Global Diabetic Foot Ulcers Treatment Market:
- The global diabetic foot ulcers treatment market is expected to exhibit a CAGR of 10.2% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global diabetic foot ulcer treatment market.
- Among product, the advance wound dressings segment is expected to hold a dominant position in the global diabetic foot ulcer treatment market during the forecast period, and this is attributed to product advancements in the field of diabetic foot ulcer treatment. For instance, on April 28, 2023, Kerecis, a medical fish company, launched the MariGen Shield, a solution that combines the company’s fish-skin graft and a silicone contact layer to treat chronic and complex wounds. The product is fenestrated to enable proper drainage of wounds. It creates an ideal environment for wound management and ensures optimal moisture levels that promote effective healing. Additionally, the company has disclosed the findings of a clinical trial that evaluated the efficacy of Kerecis fish-skin grafts in comparison to a standard of care for the management of diabetic foot ulcers.
- Among region, North America is expected to be the dominant region in the global diabetic foot ulcer treatment market, owing to the increase in the prevalence rate. Diabetic foot ulcer (DFU) is an open sore or wound that is commonly noted in individuals with uncontrolled diabetes mellitus because of repeated trauma and pressure to the area. DFU is noted in 6.3% of the world's population, with North America having the highest prevalence, which has been estimated at 13%.
- Major players operating in the global diabetic foot ulcers treatment market are 3M Healthcare, Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris Inc., Acelity L.P. Inc., Osiris, Molnlycke Health Care AB, Alkem Laboratories Ltd., Healthium Medtech, Kerecis, Podimetrics, Carmell Corporation, Paracrine, Inc., VIVEX Biologics, Inc., and PolarityTE, Inc.
