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- Report code : CMI-1357
- Industry : Pharmaceutical
- Published On : Mar 2018
- Pages : 173 Pages
- Format :
Press Release: Diabetic Foot Ulcers Treatment Market to Surpass US$ 9.49 Billion Threshold by 2025 globally
Press Release: Diabetic Foot Ulcers Treatment Market to Surpass US$ 9.49 Billion Threshold by 2025 globally
Diabetic Foot Ulcers Treatment Market – Insights
Diabetic foot ulcers is a common condition in diabetic patients. It is a disabling disorder, which might lead to amputation of the leg. Mortality due to diabetic foot ulcers is high and chances of recurrence of cured foot ulcers is also high and this in turn leads to increasing demand for proper treatment of diabetic foot ulcers. Diabetic foot ulcer is caused due to neuropathic and vascular changes in the patients with diabetes mellitus and diabetes insipidus, which also leads to chronic foot wounds due to minor trauma or pressure. The treatment for diabetic foot ulcers is divided into five stages: stage 1, which is a normal foot; stage 2, high risk foot; stage 3, an ulcerated foot; stage 4, an infected foot; and stage 5, a necrotic foot. It is important to prevent the development of diabetic foot ulcers in stage 1 and 2 while stage 3 require urgent treatment management for foot ulcers.
Rising prevalence of diabetes is a major factor driving growth of the diabetic foot ulcers treatment market. As According to WHO, The number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. According to a report published by Center for Disease Control and Prevention in 2017, over 100 million of the adults in the U.S. are suffering from prediabetes or diabetes. The report has also stated that another 84.1 million have prediabetes conditions, which if not treated may lead to type 2 diabetes within five years. Furthermore, the CDC stated that between 60% and 70% of the people with diabetes suffers from diabetic neuropathy annually, where the nerves of the feet and legs are mostly affected.
The global diabetic foot ulcers treatment market was valued at US$ 1,209.4 million in 2017 and is expected to witness a robust CAGR of 9.4% over the forecast period (2017–2025).
Global Diabetic Foot Ulcers Treatment Market Value (US$ Mn), By Region - 2017
Rising prevalence of diabetes is expected to favor growth of the diabetic foot ulcers treatment market in the near future
North America accounted for the largest share in the global diabetic foot ulcers treatment market, followed by Europe, in 2017. This is attributed to increasing prevalence of diabetes in North America. According to Center for Disease Control and Prevention, diabetes was the seventh leading cause of death in the U.S. in 2015 and 1.5 million new cases of diabetes were diagnosed among people aged 18 years and older.
Furthermore, CDC partnered with various organizations to launch programs to create awareness about diabetes. For instance, CDC established National Diabetes Prevention Program in 2010, which provides a framework to prevent or delay type 2 diabetes efforts in the U.S., where this program is still active and effective.
In Asia Pacific region, the diabetic foot ulcers treatment market is expected to exhibit a high growth rate over the forecast period. This is owing to increasing number of population suffering from diabetes. For instance, according to The International Diabetes Federation, there were 382 million people with diabetes in 2013, of which over 60% of the people live in Asia, with almost half in China and India combined.
Technological advancement in treatment of diabetic foot ulcers is expected to drive growth of the diabetic foot ulcers treatment market.
Introduction of several novel wound healing agents, which are administrated as a topical ointment or spray or injected directly into the wound is expected to favor growth of the diabetic foot ulcers treatment market. For instance, in August 2017, ViroMed started phase III trial of its VM202 gene therapy for non-healing diabetic foot ulcers and concomitant peripheral artery disease (PAD).
Furthermore, development of various device such as shock wave, for the treatment of diabetic foot ulcers is also expected to favor growth of the diabetic foot ulcers treatment market in the near future. For instance, in December 2017, the U.S. Food and Drug Administration gave approval for marketing of SANUWAVE Health, Inc., Dermapace System, which is a first shock wave device intended to treat diabetic foot ulcers.
Some major players operating in the global diabetic foot ulcers treatment market include 3M Healthcare, Coloplast A/S, B.Braun Melsungen AG, Acelity L.P. Inc., Smith & Nephew Plc., Medtronic Plc, ConvaTec Inc, and Mölnlycke Health Care.
Diabetic foot ulcers is a common disease observed in diabetic patients. According to facts presented in fact sheet 2017, Center for Disease and Prevention, among the total diabetic population, 60%–80% suffers from foot ulcers. New and innovative treatments in wound dressings and therapy devices is expected to augment the diabetic foot ulcers treatment market growth. Since there are less availability of products to treat diabetic foot ulcers by device, provides a great opportunity for key players as well as new entrants to enter the diabetic foot ulcers treatment market. Furthermore, Negative pressure wound therapy devices essential for the management of diabetic foot ulcers, as also expected to favor the growth of diabetic foot ulcers treatment market.
Market Dynamics
Diabetic foot ulcers treatment market is mainly driven by increasing prevalence of diabetes. According to World Health Organization, it was estimated that 422 million adults were suffering from diabetes, in 2014 globally. Furthermore, according to National Diabetes Statistics Report 2017, 30.3 million people in the U.S. have been estimated to have diabetes. This is expected to favor growth of the diabetic foot ulcers treatment market.
Furthermore, according to the data published by Agency for Healthcare Research & Quality (AHRQ) in October 2014, over 2.5 million individuals in the U.S. develop pressure ulcers annually, which costs the U.S. health care system around US$ 9.1 billion to US$ 11.6 billion per year
Increasing number of product launches and innovative therapies are also expected to drive the diabetic foot ulcers treatment market growth. For instance, in December 2017, FDA approved shockwave therapy by Dermapace for diabetic foot ulcers treatment. The FDA also approved a spray, Granulox by infirst Healthcare Ltd, in November 2017, for the treatment of diabetic foot ulcers.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 45 market data tables and 40 figures on "Diabetic Foot Ulcers Treatment Market” - Global forecast to 2025”.
Asia Pacific Intelligence Center (India): 