Diabetic Foot Ulcers Treatment Market is estimated to be US$ 7.4 Billion by 2030 with a CAGR of 7.50% during the forecast period

Diabetic foot ulcers treatment market accounted for US$ 3.6 billion in 2020 and is estimated to be US$ 7.4 billion by 2030 and is anticipated to register a CAGR of 7.50%.  Controlled release drug delivery system is used to release drug at a desired rate over a certain period of time which helps to maintain the therapeutic level in blood. For example, controlled release drug delivery system helps improve the efficacy ratio of the administered therapeutic. Uniform drug effect, less fluctuation in plasma drug levels, improved patient acceptance and compliance, and reduction in dosage frequency are some of the other benefits that a controlled release drug delivery system offers.

The report " Global Diabetic Foot Ulcers Treatment Market, By Product Type (Wound Care Dressings (Foam Dressing, Hydrocolloid Dressing, Hydrogel Dressing, Alginate Dressing, and Other Dressing), Biologics (Growth factors, Skin Graft, and Skin Substitutes), Wound Care Therapy Devices (Negative Pressure Wound Devices, Hyperbaric Oxygen Therapy, and Other Wound Care Therapy Devices), and Others), By Ulcers Type (Neuropathic Ulcers and Neuro-Ischemic Ulcers), By Distribution Channel (Hospitals, Clinics, Ambulatory Surgical Center, and Homecare Setting), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2030”

Key Highlights:

·         In 2020, Centaur Pharmaceuticals is readying to launch a New Chemical Entity (NCE) for treatment of diabetic foot ulcers, which the company expects will save patients from amputating their feet due to complications arising from the condition.

·         In 2020, Mumbai based Centaur Pharmaceuticals has recently announced the launch of a New Chemical Entity (NCE)- WOXheal, for the first time in the world. With its dual mechanism of action, WOXheal is a unique product in the treatment of diabetic foot ulcers, and it will save millions of diabetics who have to undergo foot amputation globally.

Analyst View:

The launches and approval of novel drugs indicated for the treatment of diabetic foot ulcers is also expected to drive the market growth over the forecast period. For instance, in 2016, Integra Life Sciences Corporation received U.S. Food and Drug Administration approval for a new indication of its Omnigraft Dermal Regeneration Matrix for the treatment of certain diabetic foot ulcers. In 2015, NovaLead Pharma launched its new drug Galnobax- a topical gel indicated for the treatment of diabetic foot ulcer. Furthermore, more high prevalence of diabetes in key regions is also expected to drastically increase demand for diabetic foot ulcers medication as around 25% of people suffering from diabetes is expected to experience diabetic foot ulcer during their life span. As per the data published National Center for Biotechnology Information in 2017, by Diabetes mellitus (DM) is one of the most common metabolic disorder, it was estimated that around 2–5% of the population in Europe are suffering from diabetes mellitus and around 20% of the global population. The incidence of diabetes mellitus worldwide is expected to increase and growth to 366 million by 2030.

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Key Market Insights from the report:

The global diabetic foot ulcers treatment market accounted for US$ 3.6 billion in 2020 and is estimated to be US$ 7.4 billion by 2030 and is anticipated to register a CAGR of 7.50%. The global diabetic foot ulcers treatment market has been segmented on the basis of product type, ulcers type, end users, and region.

·         By Product Type, the market is segmented into Wound Care Dressings (Foam Dressing, Hydrocolloid Dressing, Hydrogel Dressing, Alginate Dressing, and Other Dressing), Biologics (Growth factors, Skin Graft, and Skin Substitutes), Wound Care Therapy Devices (Negative Pressure Wound Devices, Hyperbaric Oxygen Therapy, and Other Wound Care Therapy Devices), and Others.

·         By Ulcers Type, the market is segmented into Neuropathic Ulcers and Neuro-Ischemic Ulcers.

·         By End-User, the market is segmented into Hospitals, Clinics, Ambulatory Surgical Center, and Homecare Setting.

·         By Region, the Global Viral Clearance Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape:

Key players operating in the global diabetic foot ulcers treatment market includes, Medtronic Plc,Coloplast A/S, Acelity L.P. Inc., 3M Healthcare, Smith & Nephew Plc., ConvaTecInc, B.BraunMelsungen AG, and Mölnlycke Health Care.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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