PUBLISHER: 360iResearch | PRODUCT CODE: 1497871
PUBLISHER: 360iResearch | PRODUCT CODE: 1497871
[184 Pages Report] The Diabetic Foot Ulcer Treatment Market size was estimated at USD 5.35 billion in 2023 and expected to reach USD 5.69 billion in 2024, at a CAGR 6.56% to reach USD 8.35 billion by 2030.
The diabetic foot ulcer (DFU) treatment includes a range of services, products, and technologies designed to prevent, diagnose, and treat the underlying causes and complications of diabetic foot ulcers. The increasing prevalence of diabetes globally, coupled with an aging population at risk for chronic wounds, is expanding the need for diabetic foot ulcer treatment. Additionally, growing awareness about effective DFU management among healthcare professionals and patients is contributing to the increase in the adoption of advanced diabetic foot ulcers. High costs associated with advanced DFU treatment products hinder the widespread adoption of treatment, thereby hampering market growth. Rising technological advancements in diabetic foot ulcer treatment with innovations such as bioengineered skin substitutes, stem cell therapy, growth factor-based therapies, and negative pressure wound therapy (NPWT) are expected to create opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 5.35 billion |
Estimated Year [2024] | USD 5.69 billion |
Forecast Year [2030] | USD 8.35 billion |
CAGR (%) | 6.56% |
Regional Insights
The growing prevalence of diabetes among America's population, with an aging population at risk for chronic wounds, is expanding the need for diabetic foot ulcer treatment. As per the Canadian Institutes of Health Research (CIHR), in 2021, over 3 million Canadians, or 8.8% of the population, have been diagnosed with diabetes, and 6.1% of Canadian adults were at high risk of developing diabetes. Developing economies, including Mexico, Argentina, Brazil, and Chile, observe a rapid prevalence of diabetes disorders with a majority presence of undiagnosed diabetic patients. Significant governmental efforts to improve the accessibility of DFU treatment across Europe are expected to create a platform for market growth. The key players in the region are contributing to develop advanced and cost-effective DFU treatments. The Asia-Pacific showcases an advanced landscape for the diabetic foot ulcer market owing to a significant rise in diabetic patients requiring better treatment and surging awareness regarding its management among the population.
Market Insights
The market dynamics represent an ever-changing landscape of the Diabetic Foot Ulcer Treatment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Diabetic Foot Ulcer Treatment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Diabetic Foot Ulcer Treatment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Researchers develop 3D printed bandage that delivers innovative treatment for diabetic foot ulcers
Researchers at Queen's University Belfast developed a groundbreaking 3D printed bandage for the treatment of diabetic foot ulcers (DFUs). The bandage, also known as a scaffold, combines lipid nanoparticles and hydrogels to create personalized skin-like 3D printed scaffolds. These scaffolds have the ability to release antibiotic-loaded molecules in bulk and sustainably. [Published On: 2023-07-27]
Healthium launches Theruptor Novo for diabetic foot ulcers
Healthium Medtech introduced Theruptor Novo, a new wound dressing portfolio designed for the treatment of chronic wounds, such as leg ulcers and diabetic foot ulcers. This wound dressing is antimicrobial and non-toxic, incorporating patented technology that has been recognized in the U.S., India, EU, and Canada. This product effectively reduces the development of resistant microbes and promotes the healing process by utilizing a physical kill mechanism. [Published On: 2022-10-11]
Smith+Nephew announces new study showing GRAFIX Membrane cut the rate of diabetic foot ulcer recurrence in half compared to competitors
Smith+Nephew's GRAFIX Cryopreserved Placental Membrane has been proven to reduce diabetic foot ulcer recurrence rates by up to 58.5% compared to competitors, according to a study. It found a statistically significant reduction in ulcer recurrence and new ulcer formation at all time periods for GRAFIX compared to cellular and acellular CTP groups. [Published On: 2022-03-31]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Diabetic Foot Ulcer Treatment Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Diabetic Foot Ulcer Treatment Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Adocia SA, Alkem Laboratories Ltd., B. Braun SE, Cardinal Health, Inc., Centaur Pharmaceuticals Private Limited, Cipla Limited, Coloplast Corp., ConvaTec, Inc., Essity AB, GlaxoSmithKline PLC, Healthium Medtech Limited, Integra LifeSciences Corporation, Medline Industries, Inc., MIMEDX, Inc., Molnlycke Health Care AB, Organogenesis, Inc., PAUL HARTMANN AG, Pristyn Care, Reapplix A/S, SANUWAVE Health, Inc., SIGVARIS Group, Smith & Nephew PLC, SynerHeal Pharmaceuticals, Tissue Regenix Ltd., and URGO Medical, Australia Pty Ltd..
Market Segmentation & Coverage