North America Diabetic Foot Ulcer Treatment Market
The market growth in North America is attributed to rising prevalence of diabetic foot ulcers, rising incidence of diabetes and availability of advanced treatment for diabetic foot ulcer. The US dominates the market in 2020. In North America, the US is the largest market for diabetic foot ulcer. The growth of this market is primarily driven by increasing prevalence of diabetes in the US. The Centers for Disease Control and Prevention (CDC), in 2017, National Diabetes Statistics Report stated that nearly 23 million people in the US had diabetes, of which type 1 diabetes accounted for nearly 5% to 10%, or nearly 1.2 to 2.3 million people. Of people with type 2 diabetes, nearly 14%, or 3.2 million people, manage their diabetes with insulin only. Further, as per the American Podiatric Medical Association, Diabetes is the leading cause of lower extremity amputations in the US, and around 14-24% of patients with diabetes who develop foot ulcer will require an amputation. Availability of advanced treatment for diabetic foot ulcer is likely to enhance the market growth. For instance, in December 2017, the U.S. Food and Drug Administration approved the marketing of the Dermapace System, the first shock wave device intended to treat diabetic foot ulcers. The recent years have reported various joint ventures and collaborations to develop diabetic foot ulcer product in the US. For instance, in 2020, six US research institutions launched the first-ever multicenter network to study diabetic foot ulcers in the United States. This program is funded by the National Institutes of Health. So, above mentioned factor is expected to drive the market in the region.
In case of COVID-19, North America is highly affected specially the US. North America has been witnessing a growing number of COVID-19 cases since its outbreak. For instance, according to Worldometer, the number of cases increased to 33,321,244, with 593,148 deaths reported in the US as of May 06, 2021. The number of cases is also growing in Mexico and Canada. In Mexico, the cases have reached 2,355,985, with 218,007 deaths. The pandemic is straining public health systems globally, interrupting and delaying many kinds of critical health care. A recent survey by the World Health Organization found that health services are among the most frequently disrupted. 7 in 10 countries around the world are experiencing disruptions along with United states, Canada, and Mexico. However, as vaccines become available in 2021 the demand for wound care products is expected to increase. As treatment of chronic wounds like diabetic foot ulcer is essential for patients to ensure it is on the correct trajectory to heal, generally clinicians treat chronic wounds at least once a week to assess the progress of the wound. The American Medical Association has recommended to establish hospital-based outpatient wound center and home-based treatment options to manage and treat chronic wounds like diabetic foot ulcers. This is expected to increase the demand for treatment products that can be used at home as well as at outpatient centers. This is likely to favor the growth of diabetic foot ulcer treatment products.
Strategic insights for the North America Diabetic Foot Ulcer Treatment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,978.20 Million |
| Market Size by 2028 | US$ 3,428.51 Million |
| Global CAGR (2021 - 2028) | 8.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Diabetic Foot Ulcer Treatment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America diabetic foot ulcer treatment market is expected to grow from US$ 1,978.20 million in 2021 to US$ 3,428.51 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2021 to 2028. Chronic wounds such as diabetic foot ulcers often lead to complications, creating a challenge for surgeons to manage such injuries. With the significant increase in patient pool suffering from chronic wounds, the need for a systematic approach for the treatment has increased, which is encouraging the adoption of evidence-based treatment to make wound care effective. Several research and clinical trials related to chronic wounds management have demonstrated that bioactive wound care products improve the healing of moist wounds more effectively than the traditional wound care products. The active participation of government bodies and research organizations is promoting advancements in the wound care treatments. In December 2018, ConvaTec, a wound care specialist, collaborated with Academic Health Science Networks (AHSN) and the National Health Service (NHS) to improve wound care management. So, growing research activities to introduce novel wound treatment products will drive the market in coming years.
In terms of type, the advanced wound care dressings segment accounted for the largest share of the North America diabetic foot ulcer treatment market in 2020. In terms of ulcer type, the neuro-ischemic ulcers segment held a larger market share of the North America diabetic foot ulcer treatment market in 2020. Further, the hospitals segment held a larger share of the North America diabetic foot ulcer treatment market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the North America diabetic foot ulcer treatment market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 3M; B. Braun Melsungen AG; Cardinal Health Inc; Coloplast Group; ConvaTec Group Plc; Kerecis; Medline Industries, Inc.; MiMedx; Mölnlycke Health Care AB.; Organogenesis Inc.; Smith & Nephew; and URGO.
The North America Diabetic Foot Ulcer Treatment Market is valued at US$ 1,978.20 Million in 2021, it is projected to reach US$ 3,428.51 Million by 2028.
As per our report North America Diabetic Foot Ulcer Treatment Market, the market size is valued at US$ 1,978.20 Million in 2021, projecting it to reach US$ 3,428.51 Million by 2028. This translates to a CAGR of approximately 8.2% during the forecast period.
The North America Diabetic Foot Ulcer Treatment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Diabetic Foot Ulcer Treatment Market report:
The North America Diabetic Foot Ulcer Treatment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Diabetic Foot Ulcer Treatment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Diabetic Foot Ulcer Treatment Market value chain can benefit from the information contained in a comprehensive market report.
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