Diabetic Foot Ulcer
A diabetic foot ulcer is an open sore or wound that occurs in approximately 15 percent of patients with diabetes, and is commonly located on the bottom of the foot. Of those who develop a foot ulcer, six percent will be hospitalized due to infection or other ulcer-related complications. Advanced wound care is developing as a standard solution for treating chronic wounds, diabetic foot. Traditional wound care products are being increasingly replaced with advanced wound care products, owing to their efficiency & effectiveness in managing wounds by enabling faster healing. Diabetic foot is infection, ulceration or destruction of deep tissues associated with neurological abnormalities and various degrees of peripheral vascular diseases in the lower limb. Studies suggest that 15% of the diabetic population across the globe develop diabetic foot ulcers and 6% need hospitalization as well as advanced wound care. Diabetic foot ulcers usually turn out to be infectious and at times patients may end up with severe wounds. In such cases, advanced wound care dressings and devices are beneficial to ease suffering of patients.
Drivers of Diabetic Foot Ulcer Market
The diabetic foot treatment is majorly driven by factors such as rapidly increasing of diabetic foot ulcers and growing adoption of advanced wound care devices for treatment. A diabetic ulcer is one of the major complications of diabetes. Along with the increase in the frequency of diabetes, an increase in its complications is witnessed. Increase in the awareness about the availability of advanced wound care treatment and rise in the healthcare expenditure among patient population, especially in the developing countries, is expected to further augment the market during forecast period. Technological advancements and advance wound care in treatment options, specially in the developed economies to increase the market.
Restraining Factors
The main factor which restrains the growth of diabetic ulcer market is high cost of diabetic foot treatment and high cost of advanced wound care. The people belonging to the developing and underdeveloped countries do not have a huge disposable income in order to spend it on advanced treatment facilities which hamper the growth of the diabetic foot ulcer treatment market. Lack of awareness among the people regarding the available facilities of diabetic foot ulcer treatment restraints the growth of the market.
News Parent
In June 2022, Smith and nephew (UK) announced that it is to build a new R&D and manufacturing facility for its Advanced Wound Management –
The new facility is expected to support more than $10 billion of sales in its first ten years of operation. The development will also be supported by a grant from the UK Government. This ensures that the UK remains one of the world's leading wound care R&D locations. The new site is expected to open in 2024.
In Jan 2022, Convatec breaks into wound biologics market with $ 450 M bid for Triad life sciences -
The U.K.-based maker of colostomy bags, catheters and other medical supplies is expanding its portfolio with its first foray into biologic wound-healing therapies, thanks to the proposed acquisition of Triad Life Sciences.
In January 2022, Smith+ Nephew received FDA clearance for PICO 7 and PICO 14
single-use negative pressure wound therapy to treat class I and class II wounds, including traumatic, subacute, burns, and diabetic foot ulcers.
Conclusion –
Advanced wound care will be the emerging market in the upcoming decade. The market in North America is expected to dominate the global advanced wound care management market. In the Advance wound care market, the treatment market for diabetic foot ulcer is going to be an emerging market in the advance wound care market.
Author's Detail:
Anushka Gore /
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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the medical devices & consumables industry. She has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations.
In her current role, Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses. Her collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization.Anushka remains an invaluable asset in the dynamic landscape of market research.
