Diabetic Ulcer Treatment Market is Expected to Reach $7.1 bn by 2027
The Diabetic Ulcer Treatment Market was valued at US$ 3.75 billion in the year 2018 and is estimated to reach US$ 7.1 billion by 2026, at a CAGR of 8.3 %.
Diabetic Ulcer is one of the major complications, worldwide, challenging the medical fraternity over the decades with an annual incidence of 6.3%. The development of ulcers can be attributed to diabetics who suffer from delayed wound healing mechanisms in their body. Around 50% of patients with diabetic ulcers develop complications and infections that lead to amputations. A diabetic ulcer may not depict symptoms during the initial stages. However, over time severe complication such as eschar formation can be seen surrounding the ulcers due to the absence of a healthy blood vessel resulting in the gangrene. Pain, numbness, nerve damage, irritation, redness and odorous discharge are the crucial symptoms to be observed.
An increasing number of diabetics and the consequent upsurge of the diabetic wounds and ulcers, adoption of novel therapeutics and to reduce amputation scenarios and surgical procedures are considered to be the market drivers that contribute to the market growth during the forecast period. However, due to reduced healthcare infrastructure, lack of awareness regarding the complications of ulcers and cost of treatment is expected to affect the market growth. Yet, government initiatives to increase the awareness among the patients, more investment in R&D to develop novel therapeutics are expected to fuel the market growth.
Usually, diabetic ulcer treatment includes blood glucose control, dead tissue removal, surgery and wound dressing. Further, hyperbaric oxygen therapy and negative pressure therapy are also used. Though hyperbaric oxygen therapy is beneficial, it is more costly. Biological therapeutics such as the use of skin grafts and growth factors dominated the diabetic ulcer market followed by wound care dressing market. Of which, the foam dressings ruled the market in 2018. Further, negative pressure and ultrasound therapy are also in demand for treating diabetic ulcers.
The neuropathic and ischemic ulcers are the types wherein neuropathic ulcers are chiefly prevalent across the world with a market share of more than 60%. This can be attributed to a continuous increase in diabetic foot ulcer cases for the past two decades. Further, they are expected to dominate the market share and have significant growth during the forecast period.
North American region especially the US holds the major share in the diabetic ulcer market owing to the presence of major market players in the region, increase in the diabetics, advanced healthcare facilities and awareness of the disease. Also, the region is known for the high adoption of novel therapeutics, thus encouraging the growth of the market. The European market follows by the North American region, as the number of diabetic patients acquiring ulcers is more. The third-largest market is the Asia Pacific region. Though, India known to be the diabetic capital of the world and China also known to increase in the diabetic population, the awareness of diabetic ulcers is poor. Also, reimbursement policies are not appreciable. However, government initiatives for creating awareness are expected to increase market growth in the region.
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Optima Insights categorizes the therapeutics segments by Therapeutics (wound care dressings, biologics, therapy devices, antibiotic medications); Type of ulcer (neuropathic, ischemic, others); Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
The companies which develop therapeutics for diabetic ulcers are Connate, Acuity, 3M Healthcare, Coolest, Smith & Nephew, B. Braun Melsungen, Medline Industries, Medtronic, Organogenesis, Molnlycke Health Care, and BSN Medical, FirstString, Centaur Pharma, MediWound, Izun Pharma, Issar Pharma, Novalead Pharma, Karyopharm Therapeutics, Aurealis Pharma, Stratatech, ZZ Biotech and many more…
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Diabetic Ulcer Treatment Market, 2015 to 2017
- Forecast of the Diabetic Ulcer Treatment Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Diabetic Ulcer Treatment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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