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Diabetic Foot Ulcers Market Size to reach US$ 4,740.4 million By 2027 Growing at 7.1% CAGR | GlobalData Plc
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Nov 24, 2022, 7:26 AM ET
LONDON, UK, November 24, 2022 /EINPresswire.com/ -- The global diabetic foot ulcers market size reached US$ 4,740.4 million in 2021, according to a new report by GlobalData Plc. Diabetic foot ulcers are sores that occur on the feet of people with Type 1 Diabetes and Type 2 Diabetes. Symptoms include sores, ulcers, or blisters on the foot or lower leg, pain, walking with difficulty, discoloration in feet: black, blue, or red, cold feet and fever, skin redness or swelling, or other signs of infection. The predisposing factors include diabetic neuropathy, peripheral vascular disease, a foot deformity, and a history of tobacco use disorder.
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According to a study published in September 2020 in NCBI, the annual incidence of diabetic foot ulcers globally is around 9.1 to 26.1 million. In their lifetime, 15% to 25% of people with diabetes mellitus will get a diabetic foot ulcer. The prevalence of diabetic foot ulcers will inevitably rise as more people are diagnosed with diabetes each year, which is expected to boost the market growth.
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Diabetic Foot Ulcers Market Report Highlights
• The global diabetic foot ulcers market is projected to witness a CAGR of 7.1% from 2022 to 2027, reaching a value of US$ 4,740.4 million. The market is set to gain thrust during the forecast period on account of rising adoption of novel biologics and wound care devices for treatment.
• In 2021, the neuro-ischemic ulcers segment of the diabetic foot ulcers market is estimated at US$ 1,794.0 million in 2021 and is forecast to reach US$ 2,806.7 million by 2027, growing at a CAGR of 8.0%.
• The biologics treatment segment of the diabetic foot ulcers market is estimated at US$ 1,478.7 million in 2021 and is expected to grow up to US$ 2,272.2 million by 2027, growing at a CAGR of 7.7%.
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• The homecare setting end-user segment of the diabetic foot ulcers market is estimated at US$ 2,185.3 million in 2021 and is expected to grow up to US$ 3,314.4 million by 2027, growing at a CAGR of 7.5 %.
• The market has witnessed rising prevalence of diabetes and resulting increase in incidence of diabetic foot ulcers which will boost the market growth during the forecast period.
• North America closely followed by Europe captured over 42.74% of the overall diabetic foot ulcers market share in 2021. Vendors in these regions are launching various products, thereby accelerating market growth.
• The diabetic foot ulcers market key players analyzed as part of this report are Smith & Nephew Plc, ConvaTec Group Plc, Organogenesis Holdings Inc, and Paracrine, Inc. among others.
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GlobalData Plc has segmented the diabetic foot ulcers market report by treatment, ulcer type, end-user, and region:
Diabetic Foot Ulcers, Treatment Outlook (Revenue, USD Million, 2020-2027)
• Wound Care Dressings
• Therapy Devices
Diabetic Foot Ulcers, Ulcers Type Outlook (Revenue, USD Million, 2020-2027)
• Neuro-ischemic Ulcers
• Neuropathic Ulcers
• Ischemic Ulcers
Diabetic Foot Ulcers, End-user Outlook (Revenue, USD Million, 2020-2027)
• Homecare Settings
• Hospitals and Specialty Clinics
Diabetic Foot Ulcers, Regional Outlook (Revenue, USD Million, 2020-2027)
• North America
• Rest of Europe
• Asia Pacific
• Rest of Asia Pacific
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