PUBLISHER: The Insight Partners | PRODUCT CODE: 1463717
PUBLISHER: The Insight Partners | PRODUCT CODE: 1463717
The Europe diabetic foot ulcer market was valued at US$ 1,837.31 million in 2022 and is expected to reach US$ 2,924.75 million by 2030; it is estimated to grow at a CAGR of 6.0% from 2022 to 20 30.
High Prevalence of Diabetes and Related Chronic Wounds Fuel the Europe Diabetic Foot Ulcer Market.
Diabetic patients are vulnerable to wounds, and the healing process is usually longer. Depending on healing timeframe, wounds are classified as acute and chronic. Diabetes is a life-threatening chronic disease with no functional cure. Diabetes can lead to various complications in different body parts and increase the overall risk of premature death. According to the International Diabetes Federation (IDF), in 2021, there were ~ 537 million adults living with diabetes worldwide. The number is anticipated to increase to 643 million by 2030 and 783 million by 2045. Blood vessels and nerves in the feet of diabetic patients are prone to damages, resulting in numbness. Due to this, diabetic patients have a higher chance of developing diabetic foot ulceration.
According to a study published in 2021 in National Center for Biotechnology Information (NCBI), the risk of developing diabetic foot ulcers is between 19% and 34%. Approximately, a recurrence rate of 40% is experienced by patients within 1 year of recovery, 60% within 3 years, and 65% within 5 years. As per same study, it is reported that infection develops in 50-60% of ulcers and is the principal cause that damages diabetic feet. Thus, the demand for diabetic foot ulcer treatments is on rise globally, thereby fueling the market growth.
Europe Diabetic foot ulcer Market Overview
The Europe diabetic foot ulcer market is estimated to grow at a CAGR of 6.0% 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. The high cost of advanced wound care treatments hinders the market growth. However, initiatives taken by the European parliament in 2022 also adopted an ambitious motion for a diabetes resolution to focus on prevention, management, and better diabetes care in Europe. The resolution invites member states to develop, implement, and monitor national diabetes plans and strategies to ensure equitable treatment access, primary and secondary care, and diabetes education. The resolution calls for stronger European leadership and collaboration with member states to achieve these targets. Thus, these government initiatives are expected to boost the market growth.
The growing aging population is likely to contribute to the market growth as the aging population is susceptible to suffer from diabetes. According to the Office for National Statistics, the number of people aged 65 years and over increased from 9.2 million in 2011 to over 11 million in 2021 in the UK. Similarly, as per aarpinternational.org, Germany is one of five "super-aged" societies worldwide and will continue to grow. By 2050, one-third of its population will be 65 years or older. Therefore, the increasing prevalence of diabetes and the rising geriatric population in Europe will drive the diabetic foot ulcer market growth.
Europe Diabetic foot ulcer Market Revenue and Forecast to 2030 (US$ Million)
Europe Diabetic foot ulcer Market Segmentation
Based on treatment type , the Europe 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 Europe 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 Europe diabetic foot ulcer market is segmented into mild, moderate, and severe. The mild segment held largest share in 2022.
Based on end user, the Europe 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 Europe diabetic foot ulcer market is segmented into Germany, France, UK, Italy, Spain, and the Rest of Europe. Germany dominated the Europe 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 Europe diabetic foot ulcer market.
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