The global diabetic foot ulcer treatment market size is prophesized to reach USD 11.09 billion by 2026 owing to the increasing prevalence of diabetic foot ulcers among diabetic patients worldwide. A report published by Fortune Business Insights™ titled, “Diabetic Foot Ulcer (DFU) Treatment Market Size, Share & Industry Analysis, By Ulcer Type (Neuropathic Ulcer, Ischemic Ulcer, Neuro-ischemic Ulcer), By Product (Wound-care Dressings, Wound-care Devices, Active Therapies, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Homecare Settings), and Regional Forecast, 2019-2026,”states that market value was USD 6.62 billion in 2018. It is likely to exhibit a CAGR of 6.8% and grow steadily within the forecast duration, 2019- 2026.

Rising Geriatric Population and Increasing Cases of Diabetic Foot Ulcer to Boost Market

The increasing prevalence of diabetes is a major factor augmenting the diabetic foot ulcer treatment market growth. In addition, the rise in the geriatric population and their vulnerability to various issues are also opening doors of opportunity for the market. As per the article published by the National Center for Biotechnology Information, diabetic foot ulcer is 13% prevalent in North America. It also states the yearly incidence of necrosis or diabetic foot ulcer is about 2-5%, and the lifetime risks vary between 15 to 20%. The above figures indicate a large number of the patient pool for availing treatment options for a diabetic foot ulcer. This, in turn, is anticipated to help increase the overall diabetic foot ulcer treatment market size during the forecast period.

The increasing awareness about diabetic ulcers and the availability of treatment options for this ulcer is anticipated to further attract high diabetic foot ulcer treatment market revenue in the coming years. Furthermore, ongoing clinical trials that yielded favorable results for treating diabetic foot ulcer is further prognosticated to increase the overall diabetic foot ulcer treatment market growth in the near future.

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High Product Cost to HelpNorth America Earn Dominate Share

In terms of geographical outlook, North America earned the dominant diabetic foot ulcer treatment market share in the year 2018. This is owing to the rising prevalence of foot ulcers among people with diabetes, and the high cost of products. Additionally, the advent of advanced technologies for therapeutic procedures and high expenditure on health is also responsible for the region to dominate the market.

On the other side, Europe ranked second largest diabetic foot ulcer treatment market share on account of the rise in adoption of advanced options for treatment in nations such as U.K., France, and Germany. Furthermore,the increasing geriatric population and rising prevalence of diabetic foot ulcers in Asia Pacific are likely to help this region witness a high CAGR in the forecast period.

Players to Focus on Geographical Expansion for Earning Lion’s Share in Market

Currently, the market is dominated by four significant players namely Mölnlycke Health Care AB., Coloplast Corp, ConvaTec Group Plc, and Smith & Nephew. This dominance is attributed to the strong presence of the brand and the presence of a wide range of product offerings. Besides this, there is continuous investment in product development and robust speed in research activities which will further help to attract high diabetic foot ulcer treatment market revenue in the forecast period. In addition, Players are also stressing on entering into strategic partnerships for expanding their geographical boundaries worldwide.