Diabetic Foot Ulcers and Pressure Ulcers Market will Register a CAGR of 6.6% from 2016 to 2024
Global Diabetic Foot Ulcers and Pressure Ulcers Market: Snapshot
The incidence of chronic wounds, such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and surgical wounds, and other chronic wounds, is increasing at an extremely high pace, globally. Diabetic foot ulcers, are most common chronic wounds in patients suffering from diabetes, and lack of proper treatment of the foot ulcers often lead to progression of the wound resulting in lower extremity / foot amputation. Pressure ulcers are often a cause of lack of movement of the patients, longer hospital stays, and rising geriatric population leading to increasing prevalence of chronic diseases requiring increasing number of hospital admissions.
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The increasing incidence of these chronic wounds, has been exerting huge cost burden on the healthcare systems around the world, including direct costs due to treatment, hospitalizations, and nursing costs, along with indirect costs due to lack of productivity and loss of working days. Various agencies, and government bodies around the world, have taken initiatives, set up treatment and prevention guidelines for the control of increasing incidence of chronic wounds and reducing the cost burden. The global diabetic foot ulcers and pressure ulcers market stood at US$2.8 bn in 2015. Rising at a CAGR of 6.6% between 2016 and 2024, the market is forecast to reach US$4.9 bn by the end of 2024.
Diabetic Foot Ulcers to Remain Leading Segment Based on Treatment Type
The global diabetic foot ulcers & pressure ulcers market is segmented on the basis of type of wound, treatment type, and end users. Among the type of wound segment, the diabetic foot ulcers accounted for the largest share of the global diabetic foot ulcers & pressure ulcers market in 2015, and is expected to continue the dominance during the forecast period. The increasing incidence of diabetes, rising risk of diabetic foot ulcers in the diabetic population, and lack of preventive measures, are some major factors responsible for high growth of the diabetic foot ulcers segment in the global diabetic foot ulcers & pressure ulcers market during 2016-2024.
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Among the treatment type segment, the wound care dressings segment accounted for the largest share of the global diabetic foot ulcers and pressure ulcers market in 2015. Among the key end users, including hospital inpatients settings, hospital outpatient settings, community health centers, home healthcare, and others, hospital inpatient settings constituted the leading segment in 2015. It held over 36% of the market and is forecast to remain dominant through the course of the report’s forecast period.
Rising Incidence of Diabetic Foot Ulcers and Pressure Ulcers Seals North America’s Dominance in Global Market
Regionally, the diabetic foot ulcers & pressure ulcers market has been segmented as North America, Europe, Asia-Pacific and Latin America and Middle East & Africa. North America accounted for the largest share of 38.1% in the global diabetic foot ulcers & pressure ulcers market in 2015, followed by Europe. The increasing incidence of diabetic foot and pressure ulcers, owing to factors such as higher percentage of geriatric population, higher life expectancy in sub-regions of Europe, increasing number of hospital admissions and surgical procedures performed in Europe and North America, along with rising risk of hospital acquired pressure ulcers, are expected to drive the growth of the diabetic foot ulcers and pressure ulcers market in these regions. However Asia Pacific is expected to register highest CAGR in the global diabetic foot ulcers and pressure ulcers market during forecast period.
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Major players having presence in the global diabetic foot ulcers & pressure ulcers market include 3M Healthcare, Smith & Nephew Plc., Acelity L.P. Inc., ConvaTec, Inc., Molnlycke Health Care AB, Coloplast A/S, Medtronic Plc, B. Braun Melsungen AG, Organogenesis, Inc., Medline Industries, Inc., and BSN Medical GMBH, among others.
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