New York, United States, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Diabetic Ulcers Treatment Market Size is To Grow from USD 9.8 Billion in 2022 to USD 16.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period.
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Diabetes is increasing at an alarming rate worldwide. The two key drivers affecting market expansion during the anticipated period are the rising prevalence of diabetes and the use of wound care products to avoid diabetic ulcers. It is also anticipated that the growing demand for immediate diabetic ulcer therapy will be met by the growing number of businesses attempting to develop cutting-edge solutions for the treatment of diabetic ulcers. Furthermore, as the global population continues to age, there is a higher possibility that individuals will develop chronic illnesses like diabetes, which is driving industry growth. Additionally, increasing healthcare expenses, numerous government initiatives, particularly in developing countries, and a greater willingness to spend on cutting-edge wound care therapies all contribute to the sector's expansion overall.
The increasing number of diabetic patients globally is significantly driving the growth of the market for treating diabetic ulcers. Because diabetic ulcers are so common among these individuals, there is a greater need for therapy. Due to several factors, including a sedentary lifestyle and inactivity, obesity increases the risk of developing diabetes. Eating too many processed foods, drinking too many sugary drinks, and consuming too many high-calorie meals all contribute to weight gain and the development of diabetes, just like making poor dietary decisions. Furthermore, the high cost of the therapy may hinder the growth of the market for diabetic ulcer treatments. Also, long-term, specialized care for diabetic ulcers frequently requires the assistance of a variety of healthcare specialists, including podiatrists, experts in wound care, and endocrinologists.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Diabetic Ulcers Treatment Market, By Treatment Type (Wound Care Dressings, Wound Care Devices, & Biologics), By Ulcer Type (Foot Ulcer, Mouth, & Skin), By End-user (Hospitals, Ambulatory Surgical Centers, & Homecare Settings), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032."
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The wound care dressings segment is dominating the largest market share during the forecast period.
The global diabetic ulcer treatment market is bifurcated into many sectors based on the kind of treatment, including biologics, wound care dressings, and wound care devices. The wound care dressings segment is one of them that is anticipated to have the most growth potential throughout the projection period. These bandages work as a barrier to protect the wound from contaminants like dirt, bacteria, and other dangerous microbes. This encourages speedier healing and aids in infection prevention. To maintain the ideal moisture balance in the wound and promote a healing environment, wound dressings like hydrocolloid or hydrogel dressings, which absorb excess exudate from the wound or give moisture to dry wounds, are also used. The significant segmental expansion will be encouraged by the aforementioned factors.
The foot ulcer segment is influencing the market with the largest market share during the forecast period.
The global diabetic ulcer treatment market is divided into several categories based on the kind of ulcer, including foot ulcers, mouth ulcers, and skin ulcers. Due to the high prevalence of diabetic foot ulcers among diabetic people, the foot ulcer sector is expected to dominate the market with the biggest revenue share over the forecast period. For instance, the Diabetic Foot Epidemiology and Demographics 2021 report estimates that there are 630 diabetic foot ulcers for every 100,000 diabetics worldwide. Similarly, to this, 12% of diabetics develop diabetic foot ulcers at some time in their lives, according to the CDC. The increased frequency of diabetic foot ulcers will encourage business growth over the study period.
The hospital segment is dominating the largest market share during the forecast period.
The global diabetic ulcer treatment market is segmented based on end users into a variety of settings, including hospitals, ambulatory surgical centers, and homecare settings. Because of the availability of specialized care, a patient-centered approach, a well-developed infrastructure, and easy access, the hospital segment is dominating the market with the largest revenue share during the forecast period. In addition, patients are driven to hospitals by attractive reimbursement opportunities, a multidisciplinary approach, and the ease of receiving a range of treatments or surgeries in a hospital setting, all of which contribute to the expansion of the industry.
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North America led the market with the largest market share over the forecast period
North America is expected to lead substantial market expansion during the forecast period due to the region's increased diabetes incidence. Additionally, due to factors including sedentary lifestyles, poor eating habits, and an aging population, diabetes rates have been steadily rising in North America. The treatment and outcomes of diabetic ulcers have also been improved by advancements in medical technology and available medicines. Similar to awareness campaigns, educational programs, and improved patient and healthcare professional understanding of diabetes management contribute to the early detection and treatment of diabetic ulcers, driving regional diabetic ulcer treatment market statistics.
Europe is predicted to experience strong revenue market growth throughout the forecast period due to the rising prevalence of diabetes ulcers in adults and the elderly. Additionally, it is anticipated that the market will grow in the upcoming years as a consequence of an increase in the adoption of technologically advanced treatment alternatives in nations like Germany, France, and the United Kingdom.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Diabetic Ulcers Treatment Market include B. Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis Holdings Inc., Derma Sciences Inc., Integra LifeSciences, Hill Rom Holdings Inc., Mölnlycke Health Care AB, Coloplast Corp, Cardinal Health, ConvaTec Group Plc, Tissue Regenix, 3M Healthcare, Medline Industries, Inc. and Others.
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Recent Development
- In April 2023, the innovative 3M Veraflo therapy from 3M Health Care, when combined with 3M Veraflo cleanse choice complete dressing and 3M V.A.C. Veraflo cleanse choice dressing, may hydromechanically remove infectious contaminants, non-viable tissue, and wound debris. This helped the company increase the number of therapy alternatives it offered and introduce those options to the market.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Diabetic Ulcers Treatment Market based on the below-mentioned segments:
Global Diabetic Ulcers Treatment Market, By Treatment Type
- Wound Care Dressings
- Wound Care Devices
- Biologics
Global Diabetic Ulcers Treatment Market, By Ulcer Type
- Foot Ulcer
- Mouth
- Skin
Global Diabetic Ulcers Treatment Market, By End User
- Hospitals
- Ambulatory Surgical Centers
- Homecare Settings
Diabetic Ulcers Treatment Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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