Surge In Geriatric Population Fuels the Asia Pacific Diabetic Foot Ulcer Market.
Age-associated diabetes is common globally. The deficiency of insulin secretion develops with age and the insulin resistance increases due to a change in body composition and sarcopenia. According to Endocrine Society, an estimated 33% of adults aged 65 or older have diabetes. Additionally, the population is more at risk of developing diabetes-related complications. According to the Global Ageing Survey 2019, the pace of aging (i.e., people aged 60 and above) by 2050 will be nearly a quarter or more in most regions across the world. Older adults are more likely to be diabetic and are further anticipated to develop diabetic foot ulcers and chronic wounds that can severely impact the quality of life. Therefore, with the growing aging population, the demand for advanced diabetic foot ulcer treatments will continue to increase in the coming years.
Asia Pacific Diabetic Foot Ulcer Market Overview
Diabetic foot disease is one of the leading causes of amputation among the population of Asia Pacific. Diabetic foot disease is Australia's leading cause of amputation and is among the top 20 causes of hospital admissions. As per Diabetic Feet Australia, in 2023, it has been estimated that nearly 300,000 Australians are at risk of developing diabetic foot disease, and 50,000 people live with it. Similarly, according to a study published in 2023 in Wiley Online Library, diabetic foot disease in China is as high as 30% among the diabetic population. Thus, the prevalence of diabetic foot disease in the region will drive the market growth in the upcoming years.Market players in Asia Pacific are actively developing treatment options for diabetic foot ulcers. For instance, Cannenta, an Australia-based biotechnology company, is engaged in the development of advance wound care therapies for diabetic foot ulcers. In March 2021, Cynata Therapeutics Limited, an Australian clinical-stage stem cell and regenerative medicine company, collaborated with TekCyte Pty Ltd. for the commercial development of Cynata's mesenchymal stem cells product for diabetic foot ulcers. Therefore, the increasing prevalence of diabetes, rising cases of diabetic foot disease, and initiatives by market players are expected to boost the market growth in Asia Pacific.
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a Pacific Diabetic Foot Ulcer Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Diabetic Foot Ulcer Market Segmentation
Based on treatment type, the Asia Pacific diabetic foot ulcer market is segmented into advanced wound care dressings, therapy device, and biologics. The advanced wound care dressings segment held a larger share in 2022.Based on ulcer type, the Asia Pacific diabetic foot ulcer market is segmented into neuro-lschemic ulcers, neuropathic ulcers, and ischemic ulcers. The neuro-lschemic ulcers segment held a larger share in 2022.
Based on infection severity, the Asia Pacific diabetic foot ulcer market is segmented into mild, moderate, and severe. The mild segment held a larger share in 2022.
Based on end user, the Asia Pacific diabetic foot ulcer market is segmented into hospitals, ambulatory surgical centers, and home care. The hospitals segment held a larger share in 2022.
Based on country, the Asia Pacific diabetic foot ulcer market is segmented into China, South Korea, Japan, Australia, India, and the Rest of Asia Pacific. China dominated the Asia Pacific diabetic foot ulcer market in 2022.
Convatec Group Plc, 3M Co, Coloplast AS, Smith & Nephew Plc, B. Braun SE, Medline Industries LP, Organogenesis Inc., Mölnlycke Health Care AB, MiMedx Group Inc, and URGO Medical Australia Pty Ltd are some of the leading companies operating in the Asia Pacific diabetic foot ulcer market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific diabetic foot ulcer treatment market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific diabetic foot ulcer treatment market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific diabetic foot ulcer treatment market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
Companies Mentioned
- Convatec Group Plc
- 3M Co
- Coloplast AS
- Smith & Nephew Plc
- B. Braun SE
- Medline Industries LP
- Organogenesis Inc.
- Mölnlycke Health Care AB
- MiMedx Group Inc
- URGO Medical Australia Pty Ltd
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 125 |
Published | February 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 1455.82 Million |
Forecasted Market Value ( USD | $ 2472.61 Million |
Compound Annual Growth Rate | 6.8% |
Regions Covered | Asia Pacific |
No. of Companies Mentioned | 10 |