Market Trends of Diabetic Foot Ulcer Treatment Industry
This section covers the major market trends shaping the Diabetic Foot Ulcer Treatment Market according to our research experts:
Wound Dressings Segment is Anticipated to Hold a Significant Market Share in the Market
Based on product type, the wound dressings segment is expected to contribute a significant proportion of the market. A wide range of product availability, the introduction of advanced wound dressing products, and comparatively lower treatment costs are among the primary factors attributed to the growth of this segment. For instance, in June 2022, Collagen Matrix received pre-marketing authorization for fibrillar collagen wound dressing. This is an absorbent microfibrillar matrix that is used in the treatment of venous stasis ulcers, diabetic ulcers, and acute wounds, among others. In June 2022, Medline Industries, Inc. announced the launch of a new version of Optofoam Gentle EX foam dressing with an aim to treat pressure ulcers, leg ulcers, and others. Additionally, in January 2020, Convatec Group PLC introduced ConvaMax, intending to manage wounds including leg ulcers, pressure ulcers, diabetic foot ulcers, and others precisely. This results in the increasing adoption of wound care dressing products during the study period.
Furthermore, the recent advancement in wound dressings products, including hydrogel dressings and hydrocolloid dressing for the treatment of diabetic foot ulcers, bring a revolution to wound treatment. For instance, in February 2021, the University of Bath, in coordination with Lancaster University, launched a project to treat diabetic foot ulcers with the help of plasma-activated antimicrobial hydrogel therapy. This therapy involved dressing with an antimicrobial molecule and increasing the oxygen levels in the wound with an aim to promote healing and further restrict bacterial growth. This advancement in the wound dressing segment is poised to fuel the adoption rate of wound dressing products during the study period.
Therefore, the wound dressings segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Dominate the Diabetic Foot Ulcer Treatment Market
North America is expected to dominate the market owing to factors such as the rising prevalence of diabetes and increasing healthcare awareness among the general population on diabetic foot ulcers, among others. For instance, according to the International Diabetes Federation, there were an estimated 14 million adults in Mexico who had diabetes in 2021. Moreover, according to the Canadian Diabetes Association report published in 2022, the prevalence of diabetes was 14% among the Canadian population in 2022 and is expected to increase to 17% by the end of 2032. This increasing patient pool is increasing the healthcare burden for diabetic foot ulcer treatment in North America, resulting in the rising adoption of wound care products during the forecast period.
Additionally, increasing awareness of diabetic foot ulcers among the population in the United States, Canada, and Mexico is also rising the demand and adoption of available treatment options. For instance, Healogics, LLC promoted an awareness campaign on diabetes and related wounds in the United States in November 2022. During this campaign, wound care centers in the United States educated the common people on diabetes and diabetes-related chronic wounds, including diabetic foot ulcers.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in North America.
