Worldwide Diabetic Foot Ulcer Industry to 2028 – Increasing Research Activities to Introduce Novel Wound Treatment Products Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Diabetic Foot Ulcer Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type, Ulcer Type, and End User” report has been added to ResearchAndMarkets.com’s offering.

The diabetic foot ulcer market is expected to reach US$ 7,793.83 million by 2028 from US$ 4,279.65 million in 2020; it is estimated to grow at a CAGR of 7.78% during 2020-2028.

The growth of the market is mainly attributed to the key driving factors such as the increasing prevalence of diabetes and related chronic wounds and rising geriatric population. However, the high cost of advanced wound care treatments hinders the market growth.

The elderly population is defined as a group of people aged 65 and over. Aging is poised to BE one of the most significant social transformations of the 21st century. The aging population is significantly observed issue in the Americas, Europe, the Asia Pacific. For instance, as per the Eurostat Statistics, more than 20.3% of the EU-27 population belonged to the age group of 65 and above in 2019, and this number is expected to reach a significant high by 2050. Moreover, according to a United Nations report, in 2017, there were ~962 million people with age 60 or above in the world, which comprised 13% of the global population.

Older adults are more likely to be diabetic and are further likely to develop diabetic foot ulcers, and the chronic wounds are likely to have a severe effect on the quality of life of this group of population. The wound healing process is more prolonged in the aging population due to the basic biology underlying chronic wounds and age-associated changes in wound healing. Therefore, with the growing elderly population, the demand of advanced diabetic foot ulcer treatments would continue to increase in the coming years.

Based on type, the diabetic foot ulcer market is segmented into advanced wound care dressings, biologics, and therapy device. The biologics segment is estimated to register the highest CAGR during the forecast period owing to the factors such as growing research and development activities and surging new products launches for diabetic foot ulcer treatment. Based on ulcer type, the market is segmented into neuropathic ulcers, ischemic ulcers, and neuro-ischemic ulcers. By end user, the market is segmented into ambulatory surgical centers, hospitals, and home care.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the diabetic foot ulcer market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global diabetic foot ulcer market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Drivers

• Increasing Prevalence of Diabetes and Related Chronic Wounds
• Rise in Geriatric Population

Restraints

• High Cost of Advanced Wound Care Treatments

Opportunities

• Increasing Research Activities to Introduce Novel Wound Treatment Products

Future Trends

• Use of 3D Printing in Wound Care Management

Companies Mentioned

• ConvaTec Group Plc
• 3M
• Coloplast Group
• Smith & Nephew
• B. Braun Melsungen AG
• Medline Industries, Inc.
• Cardinal Health Inc
• Organogenesis Inc.
• Molnlycke Health Care AB.
• MiMedx
• URGO
• Kerecis

For more information about this report visit https://www.researchandmarkets.com/r/k645hx

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