Diabetic Foot Ulcers Market Will Garner a CAGR of 7.1% during 2022-2027, Predicts GlobalData Plc

The latest market report publication titled Diabetic Foot Ulcers Market Size, Share and Trends Analysis by Region, Treatment, Ulcers Type, End-user, and Segment Forecast, 2022-2027 has been added to the report store by GlobalData Plc. The diabetic foot ulcers market growth will be driven by various factors including the rising geriatric population. In addition, the rising prevalence of diabetes across both advanced and emerging economies is leading to a surge in incidences of diabetic foot ulcers. Furthermore, the rising adoption of novel biologics and wound care devices for treatment will also promote the diabetic foot ulcers market growth in the upcoming years.

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The rising focus on partnerships and expansion strategies by market players is one of the main diabetic foot ulcers market trends likely to influence the market growth positively during the forecast period.  In recent years, there has been an increasing trend of partnerships aiming to cater to the crucial need to develop new treatments that can improve the quality of life of people diagnosed with diabetes. Increased collaborations and partnerships have accelerated progress in research and innovations and paved the way for new breakthroughs in treating diseases.

However, the high cost of treatment will emerge as one of the main diabetic foot ulcer market challenges likely to limit growth. Due to the increasing prevalence of diabetes, government in developing countries is planning to support medical device manufacturers in the development of new and advanced devices.

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Diabetic Foot Ulcers Market Segment Highlights

By Type

• Neuro-ischemic Ulcers: In 2021, the neuro-ischemic ulcers segment was leading the market with the highest diabetic foot ulcers market revenue share. The variety of risks connected to neuro-ischemic ulcers, including infection, amputation, and mortality, can be attributed to the segment’s expansion.
• Neuropathic Ulcers
• Ischemic Ulcers

By Treatment

• Biologics: The biologics treatment segment held the largest diabetic foot ulcer market revenue in 2021. Biologics treatment for diabetic foot ulcers comprises growth factors, like Platelet-Derived Growth Factor (PDGF), Vascular Endothelial Growth Factor (VEGF), stem cells, and other anti-diabetic drugs. These agents help in reducing hyperglycemia, improving oxygenation & circulation, and restoring lost tissues. Thus, they are mainly being adopted for wound management in different phases and are ideal for diabetic foot ulcer treatment.
• Wound Care Dressings
• Therapy Devices
• Others

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By End-user

• Homecare settings: The homecare settings end-user segment emerged as the largest revenue-generating diabetic foot ulcers market segment. The growth of this segment is driven by factors such as launching innovative treatment options that could be used at home. Home-based interventions are crucial in enhancing patient and family self-care management for aged patients and those with diabetic foot ulcer-related mobility limitations.
• Hospitals and Specialty Clinics
• Others

Regional Opportunities

North America: North America is projected to dominate the global diabetic foot ulcers market during the forecast period, owing to the presence of strong healthcare infrastructure, high adoption of the latest and branded products, well-established reimbursement policies, and increasing prevalence of diabetes leading to diabetic foot ulcers. In addition, the strong presence of leading and emerging market players and continuous research and development activities by them for the development of novel solutions has significantly supported the market growth.

• Europe
• Asia-Pacific
• ROW

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Diabetic Foot Ulcers Market Vendor Landscape

Key players operating in the diabetic foot ulcers market are more focused on organic growth strategies, especially innovative product development and expansion, in order to launch more advanced diabetic foot ulcers treatment and management products in order to cater to the mounting demand. Strategic acquisitions are observed as the second most prominent key strategy adopted by players to enhance their presence or enter the market. Various big market players are making their way into the lucrative and rapidly growing diabetic foot ulcer market with the strategic acquisitions of emerging players.

Top Diabetic Foot Ulcers Market Players

• Smith & Nephew plc: The company is engaged in the development, manufacturing, and marketing of medical devices for use in orthopedic reconstruction and trauma, sports medicine, ENT, and advanced wound management. The company’s key products include Regranex Gel, Hydrogels, Alginates, Allevyn Heel, Iodosorb, and Pico.
• Convatec Group plc: The company specializes in continence and critical care, ostomy care, infusion devices, and advanced wound care. The company’s diabetic foot ulcers treatment portfolio includes Duoderm Hydroactive Sterile Gel, Aquacel Hydrofiber Dressing, and others.
• Organogenesis, Inc.: The company offers bioactive wound healing and soft tissue regeneration solutions. The company’s product portfolio includes apligraf and dermagraft. Its dermagraft is used for the treatment of full-thickness diabetic foot ulcers.

Other Top Companies include:

• Paracrine, Inc.
• Alkem Laboratories Ltd.
• Coloplast A/S
• Braun Melsungen AG
• Molnlycke Health Care AB
• Medline Industries, Inc.
• 3M Health Care

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