The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Diabetic Foot Ulcer Global Market Report 2023, the diabetic foot ulcer market is expected to show significant growth in the forecast period.

The diabetic foot ulcer market has witnessed substantial growth, evolving from $5.39 billion in 2023 to an anticipated $5.84 billion in 2024, demonstrating a noteworthy compound annual growth rate (CAGR) of 8.4%. This surge is attributed to factors such as the increasing prevalence of diabetes, an aging population, advancements in wound care technologies, and improved healthcare access and awareness. Looking ahead, the market is poised for continued expansion, projecting a market size of $7.77 billion in 2028 with a CAGR of 7.4%.

Geriatric Population’s Influence

Rising Geriatric Population

• The diabetic foot ulcer market is set to benefit from the growing geriatric population, particularly individuals aged 65 and older.
• Elderly individuals with diabetes face heightened susceptibility to foot ulcers due to factors like neuropathy, reduced circulation, and slower healing processes.
• By 2030, 1 in 6 individuals globally will be 60 or older, according to the World Health Organization.

Market Players

• Key players in the diabetic foot ulcer market include Cardinal Health Inc., Johnson And Johnson Private Limited, 3M Company, and others.

Innovative Products Shaping Treatment

Focus on Innovation

• Major companies in the market are concentrating on innovative product development to cater to the needs of their consumer base.
• Theruptor Novo, an innovative device launched by Healthium Medtech Limited, seeks to enhance wound care, monitoring, and overall foot health for individuals with diabetic foot ulcers.
• Theruptor Novo employs focused ultrasound to create microchannels, allowing the delivery of oxygen and nutrients to the ulcer for improved healing.

View More On The Diabetic Foot Ulcer Market Report 2023 – https://www.thebusinessresearchcompany.com/report/diabetic-foot-ulcer-global-market-report

Theruptor Novo: A Game-Changing Device

• Healthium Medtech Limited’s Theruptor Novo is a non-invasive, minimally invasive device with the potential to prevent amputations by promoting ulcer healing.
• The device’s micro-channels facilitate the delivery of essential elements to the ulcer site, offering a groundbreaking approach to diabetic foot ulcer treatment.

Convatec’s Strategic Acquisition

Strengthening Market Presence

• In March 2022, Convatec Group PLC strategically acquired Triad Life Sciences Inc., a move aimed at bolstering its position in the diabetic foot ulcer treatment market.
• The acquisition enables Convatec Group PLC to tap into the growing wound biologics segment and expedite the development and commercialization of new products.

Triad Life Sciences Inc.

• Triad Life Sciences Inc., a US-based biotechnology company, specializes in developing products for diabetic foot ulcer treatment.
• Convatec’s acquisition underscores the company’s commitment to diversification and innovation in the diabetic foot ulcer market.

Market Segmentation

Types of Treatment

1. Advanced Wound Care Dressings
2. Biologics
3. Therapy Device

Ulcer Types

• Neuropathic Ulcers
• Ischemic Ulcers
• Neuro-ischemic Ulcers

End-User Categories

• Hospitals
• Ambulatory Surgery Centers
• Home Care

Regional Dominance

North America’s Leading Role

• In 2023, North America emerged as the largest region in the diabetic foot ulcer market, reflecting the region’s proactive approach to addressing diabetes-related concerns.

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The Diabetic Foot Ulcer Global Market Report 2023  provides an in-depth analysis on the diabetic foot ulcer market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the diabetic foot ulcer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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