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The diabetic foot ulcers treatment market comprises products that help in the healing and prevention of diabetic foot ulcers. Diabetic foot ulcers usually occur due to neuropathy, peripheral arterial disease and minor injuries that worsen over time if left untreated. Treatment products include wound care dressings, bioactives, skin grafts, growth factors and negative pressure wound therapy devices that help manage foot ulcers and prevent amputations. The Global Diabetic Foot Ulcers Treatment Market is estimated to be valued at US$ 7.72 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Key Takeaways:
Key players: Key players operating in the diabetic foot ulcers treatment market are 3M Healthcare, Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris Inc., Acelity L.P. Inc., Osiris, Molnlycke Health Care AB, Alkem Laboratories Ltd., Healthium Medtech, Kerecis, Podimetrics, Carmell Corporation, Paracrine, Inc., VIVEX Biologics, Inc., and PolarityTE, Inc.
Growing demand: Rising incidences of diabetes and cases of diabetic foot ulcers across the world have increased the demand for advanced treatment options. Growing awareness regarding availability of newer technologies to manage wounds is also driving the market.
Global expansion: Key players are focusing on geographical expansion plans in developing markets of Asia Pacific, Latin America, Middle East and Africa to tap the high potential in these regions. Partnerships with regional medical device distributors are helping companies penetrate remote areas.
Market Key Trends:
The advent of bioactive therapies is a key trend in the diabetic foot ulcers treatment market. Bioactive products composed of biosynthetic skin substitutes, recombinant growth factors like platelet-derived growth factor and keratinocyte growth factor, and stem cell therapies are gaining popularity. These emerging wound care options work by stimulating the body’s natural healing mechanisms for faster wound closure compared to conventional gauze and dressing treatments. As bioactives therapies reduce healing times and lower risks of infection and amputation, their adoption is expected to grow remarkably over the coming years.”
Porter’s Analysis
Threat of new entrants: High capital requirements prevent new companies from easily entering the market. Bargaining power of buyers: Due to the prevalence of diabetes, buyers have moderate bargaining power. Bargaining power of suppliers: Suppliers of medical devices and wound care products have moderate bargaining power due lack of substitute options. Threat of new substitutes: The threat of new substitutes is low as treating diabetic foot ulcers is complex with no clear substitute available. Competitive rivalry: Companies compete through branding, innovation, and expanding their product portfolios.
Geographical Regions
North America currently holds the largest share of the global diabetic foot ulcers treatment market, owing to the high prevalence of diabetes and related healthcare expenditures in the region. Asia Pacific region is expected to witness the fastest growth during the forecast period, as several APAC countries develop, diabetes cases rise, and healthcare sectors expand. China and India are the two largest and fastest growing markets for diabetic foot ulcers treatment in Asia Pacific, due to their huge population sizes and growing healthcare capabilities.
Geographical Regions
The United States accounts for a dominant share of the North American diabetic foot ulcers treatment market value. This is a result of the large diabetic population in the country coupled with rising obesity rates and infrastructure to support related healthcare. Southeast Asia is emerging as the fastest growing regional market for diabetic foot ulcers treatment, with countries like Malaysia, Indonesia, and Vietnam seeing strong economic development while also facing increasing diabetes burdens. Developing nations across Asia, Latin America, Middle East and Africa also present considerable opportunities for market expansion in the coming years.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
