Diabetic Foot Ulcer Treatment Market Size

Diabetic Foot Ulcer Treatment Market size is estimated to garner a revenue of around USD 13 Billion by the end of 2033, witnessing around 6% CAGR during the forecast period, i.e., 2023 - 2033. In the year 2022, the industry size of diabetic foot ulcer treatment was USD 2 Billion. The growth of the market can be attributed to the increasing number of people suffering from diabetes worldwide. The World Health Organization reports that in 2019, diabetes directly caused 1.5 million deaths, with 48% of deaths caused by diabetes occurring before 70 years of age. According to the American Diabetes Association, approximately 11.3% of the American population, or 37.3 million people, had diabetes in 2019. There are 37.3 million adults with diabetes, 28.7 million of whom are diagnosed, and 8.5 million of whom are undiagnosed.

An ulcer on the bottom of the foot is one of the most common diabetic foot complications. By reducing the pressure, promoting healing, and minimizing the chances of amputation, diabetic foot ulcer treatments are particularly useful for treating diabetic foot ulcers. With the aid of advanced medical technology, the diabetic foot ulcer treatment market strives to provide the best possible services in order to facilitate faster and better wound healing for diabetics. Globally, diabetes is becoming one of the most prevalent diseases. Moreover, the rapid adoption of novel wound care devices, the increase in chronic illnesses, such as diabetes and cancer, have contributed to an increase in diabetic foot ulcers among diabetics, and increased disposable incomes are projected to drive market growth over the forecast period. In July 2022, the Bureau of Economic Analysis reported an increase of USD 37.6 billion in disposable personal income, while personal income was up 0.2%.