PUBLISHER: The Business Research Company | PRODUCT CODE: 1588820
PUBLISHER: The Business Research Company | PRODUCT CODE: 1588820
Diabetic wounds are slow-healing wounds that frequently affect individuals with diabetes. These wounds arise due to a combination of factors, such as neuropathy, poor circulation, and elevated blood sugar levels, which disrupt the healing process and increase the risk of infection and complications.
The products designed for diabetic wounds include wound care dressings, wound care devices, skin grafts and substitutes, growth factors, and others. Wound care dressings are specialized materials used directly on diabetic wounds to protect them from contamination and facilitate healing. The different types of wounds include neuropathic ulcer wounds, ischemic ulcer wounds, and neuro-ischemic ulcer wounds, with various end-users such as hospitals, specialty clinics, and others.
The diabetic wounds market research report is one of a series of new reports from The Business Research Company that provides diabetic wounds market statistics, including diabetic wounds industry global market size, regional shares, competitors with a diabetic wounds market share, detailed diabetic wounds market segments, market trends and opportunities, and any further data you may need to thrive in the diabetic wounds industry. This diabetic wounds market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The diabetic wounds market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth during the historical period can be attributed to the increasing prevalence of diabetes, advancements in wound care technology, heightened awareness of diabetic wound management, improvements in healthcare infrastructure, and the growing aging population.
The diabetic wounds market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to the rising prevalence of diabetes, increasing technological innovations in wound care, growing demand for personalized treatment solutions, advancements in wound healing materials, and increased investment in research and development. Key trends expected during the forecast period include the development of smart wound care products, the integration of advanced biomaterials, the use of regenerative medicine technologies, the expansion of telehealth and remote monitoring, and advancements in nanotechnology for wound healing.
The rise in obesity cases is expected to drive the growth of the diabetic wounds market in the future. Obesity, a condition characterized by excessive body fat, poses significant health risks. The increasing prevalence of obesity is largely due to more sedentary lifestyles, with people spending more time sitting and less time engaging in physical activity. Obesity is closely linked to diabetic wounds because the excess body fat can lead to insulin resistance, impairing blood sugar control and slowing down wound healing. For example, in May 2023, the Office for Health Improvement and Disparities, a UK-based government department, reported that from 2021 to 2022, an estimated 63.8% of adults aged 18 and over in England were overweight or living with obesity, up from 63.3% in 2020 to 2021. Consequently, the increase in obesity cases is fueling the growth of the diabetic wound market.
Leading companies in the diabetic wounds market are focusing on the development of 3-D hydrocellular wound dressings to improve the management and treatment of diabetic wounds. These dressings feature a unique three-dimensional structure that effectively manages moisture and absorbs exudate, creating an optimal environment for wound healing. For instance, in October 2022, Healthium Medtech, a medical device company based in India, launched Theruptor Novo, an innovative wound dressing designed for chronic wounds such as diabetic foot ulcers. It uses patented technology to physically kill microbes, reducing resistance and providing protection for up to 7 days. The 3-D hydrocellular design of the dressing also effectively manages moisture, promoting better healing.
In May 2023, LifeNet Health, a regenerative medicine solutions company based in the U.S., acquired the wound care division of Bioventus Inc. for $85 million. This acquisition aims to strengthen LifeNet Health's wound care solutions by incorporating Bioventus Inc.'s product, TheraSkin, and positioning the company as a stronger global leader in regenerative medicine. Bioventus Inc., a U.S.-based biotechnology company, specializes in advanced wound care, including TheraSkin, which enhances the healing process in diabetic foot ulcers.
Major companies operating in the diabetic wounds market are 3M Health Care, Medline Industries Inc., B. Braun Melsungen AG, Smith & Nephew plc, Coloplast A/S, Hartmann Group, ConvaTec Group Plc, Molnlycke Health Care AB, Integra LifeSciences Holdings Corporation, Hollister Incorporated, Wright Medical Group N.V., Organogenesis Inc., MiMedx Group Inc., LifeNet Health, Biosense Webster Inc., Derma Sciences Inc., Kerecis, DermaRite Industries LLC, MediWound Ltd., Tissue Regenix Group plc, Systagenix Wound Management, XenoTherapeutics, Alliqua BioMedical Inc
North America was the largest region in the diabetic wounds market in 2023. The regions covered in the diabetic wounds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the diabetic wounds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The diabetic wounds market consists of sales of antibacterial creams, gels, negative pressure wound therapy (NPWT) systems, and wound cleansers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Diabetic Wounds Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on diabetic wounds market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for diabetic wounds ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The diabetic wounds market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
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