The global diabetic foot ulcer treatment market is anticipated to grow at a CAGR of around 7% during the forecast period. Diabetic foot ulcers have a considerable negative impact on patients’ lives and are highly susceptible to infection that all too often leads to amputation. The primary factor that enhances the growth of the global diabetic foot ulcer industry includes the increased prevalence of diabetes. As per the International Diabetes Foundation in 2019, around 463 million adults suffered from diabetes globally which is further expected to reach 700 million by 2045.
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This rise in the prevalence of diabetes is encouraging the manufacturers for the development of improved care options. Potential product launches by market players of promising late-stage pipeline products such asas FirstString Research’s Granexin gel, ViroMed’sVM 202, and Oneness Biotech’s WH-1 ointment will further expand the diabetic foot ulcer treatment market size. Further, ConvaTec Group Plc manufactured a novel Anti-Biofilm AQUACEAg+ dressing demonstrates that showed positive results in hard-to-heal wounds.
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The increasing awareness about diabetic ulcers and the availability of treatment options for ulcers is anticipated to further attract high market revenue in the near future. Furthermore, ongoing clinical trials that yielded favorable results for treating diabetic foot ulcer is further prognosticated to increase the overall diabetic foot ulcer treatment market growth in the near future. Further, the rising geriatric population is also a factor encouraging the diabetic foot ulcer treatment market growth during the forecast period.
Besides, 3M Co., B. Braun Melsungen AG, Coloplast A/S, ConvaTec Group PLC, Smith & Nephew Plc, Integra LifeSciences Corp., Mölnlycke Health Care AB, Acelity L.P. Inc., Cardinal Health Inc., and Medline Industries Inc. are the key players operating in the market. New product launches and approvals, merger and acquisition, partnerships and collaborations among others are the strategies adopted by the players. For instance, in January 2020, ConvaTec Group Plc announced the launch of ConvaMax,used for the management of highly exuding wounds such as diabetic foot ulcers, leg ulcers, pressure ulcers, and other surgical wounds.
.Global Diabetic Foot Ulcer Treatment Market – Segmentation
By Treatment Type
- Wound Care Dressings
- Biologics
- Therapy Devices
- Others
By Ulcer Type
- Neuropathic Ulcers
- Ischemic Ulcers
- Neuro-ischemic Ulcers
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