The global diabetic foot ulcers treatment market by Ulcer Type (Neuropathic Ulcers, and Neuro-Ischemic Ulcers); by Product Type (Wound Care Dressings (Foam dressings, Hydrocolloid Dressing, Hydrogel Dressing, Alginate Dressing, and Other Dressings), Biologics (Growth factors, and Skin Graft and Skin Substitute), Therapy Devices (Negative pressure wound devices, Hyperbaric Oxygen therapy devices, and Other Therapy Devices), and Other Products); by End User (Hospital, Clinics, Ambulatory Surgical Center, and Homecare Setting) and by Region (North America, Latin America, Europe, the Middle East, Asia Pacific, and Africa) is estimated at US$ 1,209.4 million in 2017 and is projected to exhibit a CAGR of 29.4% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of diabetes is the leading factor for growth of the market. According to World Health Organization in 2015, an estimated 1.6 million deaths were directly caused by diabetes. Another 2.2 million deaths were attributable to high blood glucose in 2012. This has led to continuous developments and innovation in treatment and prevention of diabetic foot ulcers, which includes, wound dressings, therapy and wound healing agents, which include ointments and spray. This rise in prevalence has also increased demand for research and development in the field of diabetic foot ulcers treatment.
Manufacturers of diabetic foot ulcers are focusing on research and development and new product launches to cater to increasing demand for the treatment of diabetic foot ulcers. For instance, in December 2017, the Food and Drug Administration (FDA) approved Sanuwave’s Dermapace system, a shock wave therapy system for the treatment of diabetic foot ulcers.
Furthermore, in November 2017, the U.S. FDA granted fast track designation to Infirst Healthcare’s haemoglobin spray, Granulox for the treatment of diabetic foot ulcers. The Granulox spray works by increasing the levels of oxygen at the wound bed, which helps to speed up the rate of healing and reduces the pain. The U.S. FDA had also approved a new indication for Integra Omnigraft Dermal Regeneration Matrix manufactured by Omnigraft in January 2016, to treat diabetic foot ulcers. The device is made of silicone, cow collagen, and shark cartilage, which provides favorable environment for new skin and tissue to regenerate and heal the wound. These rising regulatory approvals are expected to aid in growth of the market during the forecast period.
Browse 45 Market Data Tables and 40 Figures spread through 173 Pages and in-depth TOC on diabetic foot ulcers treatment market by Ulcer Type (Neuropathic Ulcers, and Neuro-Ischemic Ulcers); by Product Type (Wound Care Dressings, (Foam dressings, Hydrocolloid Dressing, Hydrogel Dressing, Alginate Dressing and Other Dressings) Biologics (Growth factors, and Skin Graft and Skin Substitute) Therapy Devices (Negative pressure wound devices, Hyperbaric Oxygen therapy devices, and Other Therapy Devices) Other Products); by End User (Hospital, Clinics, Ambulatory Surgical Center, and Homecare Setting) and by Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Global Forecast to 2025
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Manufacturers are focusing on expanding the company’s presence in the diabetic foot ulcers treatment market through mergers and acquisitions strategy, which in turn is expected to favor the growth of diabetic foot ulcers in the near future. For instance, Medela Inc. in May 2017, introduced its new Invia FItPad negative pressure wound therapy dressing portfolio enabling dynamic measurement of pressure setting from pump to the dressing site, making it easier for healthcare professionals and patients.
Furthermore, In May 2017, Acelity launched PREVENA DUO Incision Management System in U.S., which is the first single-use negative pressure wound therapy system designed for simultaneous management of two closed surgical incisions and helps to reduce post-operative complications in surgery.
Key takeaways of the market:
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