Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Diabetic foot ulcers are common complication of poorly controlled diabetes, forming as a result of skin tissue breaking down and exposing the layers underneath. It is commonly located on the bottom of the foot. The major causes of diabetic ulcers includes , high blood sugar, nerve damage, and irritated or wounded feet.
The global diabetic foot ulcer treatment market is estimated to be valued at US$ 6,411.3 million in 2021 and is expected to exhibit a CAGR of 10.2% during the forecast period (2021-2028).
Figure 1.Global Diabetic Foot Ulcer Treatment Market Share (%) in Terms of Value, By Product, 2021
Increasing prevalence of diabetes and subsequent rise in incidence of diabetic foot ulcers is expected to drive the market growth during the forecast period.
Increasing prevalence of diabetes and subsequent rise in incidence of diabetic foot ulcers is expected to drive the global diabetic foot ulcer treatment market growth over the forecast period. For instance, according to the American Diabetes Association, in 2018, 34.2 million Americans, or 10.5% of the population, had diabetes. Moreover, according to the Diabetic Foot Journal, in 2019, around 169,000 individuals had diabetic foot ulcers in the U.K.
Diabetic Foot Ulcer Treatment Market Report Coverage
||Market Size in 2021:
||US$ 6,411.3 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 12,653.3 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Product: Advance Wound Dressings, Skin Substitutes, Growth Factors, Negative Pressure Wound Therapy Devices, Other Devices
- By Ulcer Type: Neuropathic Ulcers, Ischemic Ulcers, Neuro-Ischemic Ulcers
- By End User: Hospitals, Specialty Clinics, Long Term Care Centers, Ambulatory Surgical Centers
3M Healthcare, B. Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris Inc., Acelity L.P. Inc., Osiris, and Molnlycke Health Care AB
- Increasing prevalence of diabetes and subsequent rise in incidence of diabetic foot ulcers
- Availability of explicit dressings for specific type of foot ulcers
|Restraints & Challenges:
- High cost of diabetic foot ulcer medication and care
Figure 2.Global Diabetic Foot Ulcer Treatment Market Share (%), , 2021
Availability of explicit dressings for specific type of foot ulcers is expected to drive the market growth during the forecast period.
Availability of explicit dressings for specific type of diabetic is expected to boost the market growth during the forecast period. For instance, hydrocolloid dressings such as DuoDERM or IntraSite hydrocolloid are available for . Such dressings help to maintain moist environment for faster wound healing and allow autolytic debridement. Absorptive dressings including calcium alginates (e.g., Kaltostat and Curasorb) are available for exudative wounds in
Global Diabetic Foot Ulcer Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. For instance, according to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in over 190 million infected individuals worldwide as of July 19, 2021.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Furthermore, players operating in the global diabetic foot ulcer treatment market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Moreover, distributors are experiencing irregular demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders.
Global Diabetic Foot Ulcer Treatment Market: Restraint
The major factors that are expected to hinder growth of the global diabetic foot ulcer treatment market include high cost of diabetic foot ulcer medication and care. For instance, according to the Therapeutic Advances in Endocrinology and Metabolism 2018, the total medical cost for the management of diabetic foot disease ranges from US$ 9 to US$ 15 billion in the U.S.
Major players operating in the global diabetic foot ulcer treatment market include 3M Healthcare, B. Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris Inc., Acelity L.P. Inc., Osiris, and Molnlycke Health Care AB.