PUBLISHER: The Insight Partners | PRODUCT CODE: 1463704
PUBLISHER: The Insight Partners | PRODUCT CODE: 1463704
The South & Central America diabetic foot ulcer market was valued at US$ 356.91 million in 2022 and is expected to reach US$ 549.39 million by 2030; it is estimated to grow at a CAGR of 5.5% from 2022 to 2030.
Use of 3D Printing in Wound Care Management Fuels the South & Central America Diabetic Foot Ulcer Market
Skin tissue damage caused by various indications due to diabetes and vascular diseases significantly burdens the healthcare systems. 3D bioprinting is based on layer-based synthesis, wherein the newly generated cells and cell-based materials can be dispensed to mimic native tissues. Though the technology is still nascent, 3D printing can potentially revolutionize the wound care industry. Many companies are involved in developing new products involving ion-release biomaterials that promote angiogenesis for dermal regeneration. In addition, 3D bioprinting helps patch large wounds that are hard to heal with standard techniques. The use of 3D bioprinting technologies in ulcer or wound treatments is likely to emerge as a prominent trend in the diabetic foot ulcer market in the coming years.
South & Central America Diabetic Foot Ulcer Market Overview
The South & Central America diabetic foot ulcer market is estimated to grow at a CAGR of 5.5% from 2022 to 2030. Key factors driving the market growth are increasing prevalence of diabetes and related chronic wounds and the rise in geriatric population propel market growth. However, high cost of advanced wound care treatments hinders the market growth.
According to IDF Diabetes Atlas, in 2021, diabetes accounted for US$ 65 billion in expenditure in South & Central America, which is estimated to reach US$ 80 billion by 2030. Thus, the increasing healthcare spending and the rising prevalence of diabetes in the region are factors expected to boost market growth, ultimately increasing wound care product use. Additionally, several market players are implementing awareness and training courses to empower clinicians to enhance clinical knowledge and understand treatment options for chronic wounds such as diabetic foot ulcers. In April 2021, Medline launched a new series of chronic wound care courses in Argentina to train clinicians with advanced treatment options for diabetic foot ulcers. Such initiatives will support the market growth in Argentina.
South & Central America Diabetic Foot Ulcer Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Diabetic Foot Ulcer Market Segmentation
Based on treatment type, the South & Central America diabetic foot ulcer market is segmented into advanced wound care dressings, therapy device, and biologics. The advanced wound care dressings segment held largest share in 2022.
Based on ulcer type, the South & Central America diabetic foot ulcer market is segmented into neuro-lschemic ulcers, neuropathic ulcers, and ischemic ulcers. The neuro-lschemic ulcers segment held largest share in 2022.
Based on infection severity, the South & Central America diabetic foot ulcer market is segmented into mild, moderate, and severe. The mild segment held largest share in 2022.
Based on end user, the South & Central America diabetic foot ulcer market is segmented into hospitals, ambulatory surgical centers, and home care. The hospitals segment held largest share in 2022.
Based on country, the South & Central America diabetic foot ulcer market is segmented into Brazil, Argentina, the Rest of South & Central America. Brazil dominated the South & Central America diabetic foot ulcer market in 2022.
Convatec Group Plc, 3M Co, Coloplast AS, Smith & Nephew Plc, B. Braun SE, Medline Industries LP, Organogenesis Inc., Molnlycke Health Care AB, and MiMedx Group Inc are some of the leading companies operating in the South & Central America diabetic foot ulcer market.
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