The diabetic foot ulcer market is expected to reach US$ 7,793. 83 million by 2028 from US$ 4,279. 65 million in 2020; it is estimated to grow at a CAGR of 7. 78% during 2020-2028. The growth of the market is mainly attributed to the key driving factors such as the increasing prevalence of diabetes and related chronic wounds and rising geriatric population.
New York, June 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diabetic Foot Ulcer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Ulcer Type, and End User" - https://www.reportlinker.com/p06099462/?utm_source=GNW
However, the high cost of advanced wound care treatments hinders the market growth.
The elderly population is defined as a group of people aged 65 and over.Aging is poised to BE one of the most significant social transformations of the 21st century.
The aging population is significantly observed issue in the Americas, Europe, the Asia Pacific. For instance, as per the Eurostat Statistics, more than 20.3% of the EU-27 population belonged to the age group of 65 and above in 2019, and this number is expected to reach a significant high by 2050. Moreover, according to a United Nations report, in 2017, there were ~962 million people with age 60 or above in the world, which comprised 13% of the global population.
Older adults are more likely to be diabetic and are further likely to develop diabetic foot ulcers, and the chronic wounds are likely to have a severe effect on the quality of life of this group of population.The wound healing process is more prolonged in the aging population due to the basic biology underlying chronic wounds and age-associated changes in wound healing.
Therefore, with the growing elderly population, the demand of advanced diabetic foot ulcer treatments would continue to increase in the coming years.
Based on type, the diabetic foot ulcer market is segmented into advanced wound care dressings, biologics, and therapy device.The biologics segment is estimated to register the highest CAGR during the forecast period owing to the factors such as growing research and development activities and surging new products launches for diabetic foot ulcer treatment.
Based on ulcer type, the market is segmented into neuropathic ulcers, ischemic ulcers, and neuro-ischemic ulcers. By end user, the market is segmented into ambulatory surgical centers, hospitals, and home care.
The World Health Organization (WHO), National Health Service, Centers for Disease Control and Prevention (CDC), Organization for Economic Co-operation and Development (OECD), National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), Centro de Referência Estadual para a Assistência ao Diabetes e Endocrinologia, and International Diabetes Federation along with company websites are among the major primary and secondary sources referred to while preparing the report on the diabetic foot ulcer market.
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