Diabetic Foot Ulcer Global Market Report 2024

The global diabetic foot ulcer market 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 global diabetic foot ulcer market 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.

The diabetic foot ulcer market's anticipated growth is set to be propelled by the increasing geriatric population. The term "geriatric population" encompasses the elderly segment, typically aged 65 and older. Diabetic foot ulcers present a prevalent and substantial concern within the senior demographic. Elderly individuals living with diabetes are particularly vulnerable to developing foot ulcers due to factors such as neuropathy, diminished circulation, and slower healing processes. As an illustration, as reported by the World Health Organization in October 2022, it is projected that globally, by 2030, 1 in 6 individuals will belong to the 60 and older age group. Furthermore, by 2050, this age group is expected to double in size, reaching 2.1 billion individuals. Consequently, the increasing geriatric population serves as a driving force behind the growth of the diabetic foot ulcer market.

The escalating adoption of telehealth is poised to contribute to the growth of the diabetic foot ulcer market. Telehealth, denoting the delivery and facilitation of healthcare services and related services via remote telecommunications technology, plays a pivotal role in the management of diabetic foot ulcers. These services are utilized for monitoring foot ulcers and providing essential follow-up care. For instance, findings from a study involving 1,769 older adults conducted by the Michigan Population Studies Center in December 2022 revealed a 5.59% increase in the utilization of telehealth for email and portal messages, along with a substantial 19.99% rise in video chats with healthcare professionals among older individuals. Therefore, the increasing adoption of telehealth contributes to the growth of the diabetic foot ulcer market.

A significant impediment to the diabetic foot ulcer market is the substantial expense associated with medication and care. The elevated cost of treatment encompasses increased healthcare service expenses, encompassing medical examinations, therapies, and medical procedures. This elevated cost can pose a considerable hindrance to treatment access for numerous patients, particularly those lacking sufficient insurance coverage. As an illustration, a report from the National Library of Medicine in July 2023 unveiled that the comprehensive medical expenditure for managing diabetic foot disease in the United States ranges from $9 to $13 billion. This data underscores the substantial financial burden associated with diabetic foot ulcer treatment. Consequently, the high treatment cost hinders the expansion of the diabetic foot ulcer market.

Leading companies within the diabetic foot ulcer market are committed to the development of innovative products tailored to the requirements of their existing clientele. These cutting-edge solutions, such as Theruptor Novo, are designed to enhance the management of diabetic foot ulcers, focusing on wound care, monitoring, and overall foot health. For instance, in October 2022, Healthium Medtech Limited, an Indian medical devices company, introduced Theruptor Novo - an innovative device designed for diabetic foot ulcer treatment. This non-invasive, minimally invasive device employs focused ultrasound to establish microchannels in the skin and surrounding tissue, facilitating the delivery of oxygen and nutrients to the ulcer site, thus promoting the healing process. Additionally, it holds the potential to aid patients in ulcer healing and mitigating the need for amputation.

In March 2022, Convatec Group PLC, a UK-based company specializing in medical products and technologies, completed the acquisition of Triad Life Sciences Inc. The objective behind this acquisition is to fortify Convatec Group plc's position in the wound care sector, venture into the rapidly expanding wound biologics segment, and accelerate the development and commercialization of new product offerings. Triad Life Sciences Inc., a U.S.-based biotechnology firm, specializes in the development of products for the treatment of diabetic foot ulcers.

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.

North America was the largest region in the diabetic foot ulcer market in 2023. The regions covered in diabetic foot ulcer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the diabetic foot ulcer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Diabetic foot ulcers encompass three primary categories including advanced wound care dressings, biologics, and therapy devices. Advanced wound care dressings are specialized medical dressings designed to facilitate the healing of complex or chronic wounds, including neuropathic ulcers, ischemic ulcers, and neuro-ischemic ulcers. These treatments are typically administered in healthcare settings such as hospitals, ambulatory surgery centers, and home care services.

This report provides diabetic foot ulcer market statistics, including diabetic foot ulcer industry global market size, regional shares, competitors with a diabetic foot ulcer market share, detailed diabetic foot ulcer market segments, market trends and opportunities and any further data you may need to thrive in the diabetic foot ulcer industry. This diabetic foot ulcer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The diabetic foot ulcer market consists of revenues earned by entities by providing diabetic foot ulcer services such as foot assessments, wound care, infection control, debridement, vascular assessment, nutritional support, compression therapy and blood sugar management services. The market value includes the value of related goods sold by the service provider or included within the service offering. The diabetic foot ulcer market also includes sales of topical antibiotics and ointments, offloading devices, special footwear, blood glucose monitors and insulin delivery devices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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