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Diabetic Foot Ulcer Market 2024Analysis, Industry Size, Share, Key Players And Forecast To 2033
Diabetic Foot Ulcer Market
Diabetic Foot Ulcer Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.77 billion In 2028 At A CAGR Of 7.4% :
The diabetic foot ulcer market size has grown strongly in recent years. It will grow from $5.39 billion in 2023 to $5.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increasing diabetes prevalence, aging population, improvements in wound care technologies, healthcare access and awareness.
The diabetic foot ulcer market size is expected to see strong growth in the next few years. It will grow to $7.77 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to personalized medicine, telemedicine and remote monitoring, emerging markets expansion, advanced biomaterials. Major trends in the forecast period include digital health solutions, patient-centered care, collaborative care models, preventive care and education.
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Diabetic Foot Ulcer Market Major Segments
The diabetic foot ulcer market covered in this report is segmented -
1) By Type: Advanced Wound Care Dressings; Biologics; Therapy Device
2) By Ulcer Type: Neuropathic Ulcers; Ischemic Ulcers; Neuro-ischemic Ulcers
3) By End-User: Hospitals; Ambulatory Surgery Centers; Home Care
Key Driver - Geriatric Population's Influence On The Growth Of The Diabetic Foot Ulcer Market
The rising geriatric population is expected to propel the growth of the diabetic foot ulcer market going forward. The geriatric population refers to the segment of the elderly or older, typically aged 65 and older. Diabetic foot ulcers are a common and significant concern within the senior population. Elderly individuals with diabetes are particularly susceptible to foot ulcers due to neuropathy, reduced circulation and slower healing processes. For instance, in October 2022, according to reports shared by the World Health Organization, a US-based specialized health agency, globally, 1 in 6 individuals will be 60 or older by 2030 and by 2050, there will be a double amount of individuals in this age group (2.1 billion). Therefore, the rising geriatric population is driving the growth of the diabetic foot ulcer market.
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Prominent Trend - Innovative Products Shaping The Future Of Diabetic Foot Ulcer Treatment
Major companies operating in the diabetic foot ulcer market are focused on developing innovative products to meet the needs of their existing consumers. Innovative devices such as Theruptor Novo aim to improve outcomes for individuals with diabetic foot ulcers by enhancing wound care, monitoring and overall foot health. For instance, in October 2022, Healthium Medtech Limited, an India-based medical devices company, launched Theruptor Novo, an innovative device for treating diabetic foot ulcers (DFUs). It is a non-invasive, minimally invasive device that uses focused ultrasound to create microchannels in the skin and tissue surrounding the ulcer. These micro-channels allow for the delivery of oxygen and nutrients to the ulcer, which can help promote healing. Additionally, it has the potential to help patients heal their ulcers and avoid amputation.
Diabetic Foot Ulcer Market Players
Major players in the diabetic foot ulcer market are Cardinal Health Inc., Johnson And Johnson Private Limited, 3M Company, Medtronic PLC, Medline Industries Inc., Coloplast A/S, B. Braun Melsungen AG, Nitto Denko Corporation, Smith and Nephew PLC, Human Biosciences Inc., Derma Sciences Inc., Convatec Inc., Molnlycke Health Care AB., Integra LifeSciences Corporation, Lohmann And Rauscher International GmbH and Co. KG, Acelity L.P. Inc., Pliant Therapeutics Inc., MiMedx Group, BSN Medical GMBH, Osiris Therapeutics Inc., Advanced Medical Solutions Group PLC, Organogenesis Inc., Healiance Inc., Misonix Inc., MediWound Ltd., Tissue Regenix Group Limited, Systagenix Wound Management Limited, Healios KK.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the diabetic foot ulcer market in 2023. The regions covered in diabetic foot ulcer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Diabetic Foot Ulcer Market Report Structure
3. Diabetic Foot Ulcer Market Trends And Strategies
4. Diabetic Foot Ulcer Market - Macro Economic Scenario
5. Diabetic Foot Ulcer Market Size And Growth
…..
27. Diabetic Foot Ulcer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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