A patient suffering from diabeticfoot ulcers losses the ability to feel pain. Redness and swelling of the footare some common symptoms of the disease. Several topical therapeutics areavailable for the treatment of diabetic foot ulcers such as polyhexamethylenebiguanide gel or solutions, dressings containing silver or silver sulphadiazinecream, iodine, and medical grade honey in ointment or gel form.
The global DiabeticFoot Ulcer Therapeutics Market is estimated to account for US$ 4,901.1 Mnin terms of value in 2018 and is estimated to reach US$ 12,021.8 Mn by the endof 2027.
Global Diabetic Foot UlcerTherapeutics Market: Drivers
Developments in regenerativetechnology are expected to boost growth of the global diabetic foot ulcertherapeutics market over the forecast period. For instance, in July 2019, AVITAMedical announced positive results for a study that assessed its RECELLAutologous Cell Harvesting Device for the treatment of diabetic foot ulcers.
Global Diabetic Foot UlcerTherapeutics Market: Opportunities
Increasing incidence of obesityis expected to offer lucrative growth opportunities for players in the market.For instance, according to MedAlertHelp.org, over 1.9 billion adults werereported as overweight worldwide.
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Global Diabetic Foot UlcerTherapeutics Market: Restraints
Availability of alternatives suchas diabetic shoes and natural remedies are expected to hamper growth of theglobal diabetic foot ulcer therapeutics market.
Key Takeaways:
Advanced wound dressings segmentin the global diabetic foot ulcer therapeutics market was valued at US$ 1,935.6Mn in 2018 and is expected to reach US$ 3,583.0 Mn by 2027 at a CAGR of 7.3%during the forecast period. Increasing product launches is expected to supportgrowth of the segment over the forecast period. For instance, KCI, an AcelityCompany recently expanded its advanced wound dressings (AWD) presence in SouthAfrica with the launch of Kerracontact Ag Dressing, Kerrafoam Gentle BorderDressing and Kerramax Care Dressing in July 2019.
The Neuropathic Ulcers segmentheld dominant position in the global diabetic foot ulcer therapeutics market in2018, accounting for 50.5% share in terms of value, followed by Neuro-IschemicUlcers and Ischemic Ulcers, respectively. Rising prevalence of diabetes is amajor factor driving growth of the segment. As According to WHO, The number ofpeople 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 in2017, over 100 million of the adults in the U.S. are suffering from prediabetesor diabetes
The hospitals segment helddominant position in the global diabetic foot ulcer therapeutics market in2018, accounting for 37.2% share in terms of value, followed by Specialty Clinicsand Long Term Care Centers, respectively. Increasing hospitalizations fortreatment of diabetes foot ulcers is expected to support growth of the segment.For instance, according to diabetes Australia, every year there are 10,000hospital admissions in Australia for diabetes-related foot ulcers
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Market Trends
The market in emerging economiesis driven by rapid growth in medical tourism. For instance, according to IndiaBrand Equity Foundation’s January 2019 release, the estimated Foreign TouristArrivals (FTAs) in India on medical purpose during the years 2015, 2016, and2017 were 2,33,918, 4,27,014, and 4,95,056 respectively.
Epidermal growth factor iseffective in the treatment of diabetic foot ulcers. For instance, in July 2019,researchers at University of Debrecen (Hungary) and Thach University ofMedicine (Vietnam) reported positive results for the use of recombinant humanepidermal growth factor in the treatment of diabetic foot ulcers.
Global Diabetic Foot UlcerTherapeutics Market: Competitive Landscape
Major players operating in theglobal diabetic foot ulcer therapeutics market include, B. Braun Melsungen AG,Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., SigvarisInc., 3M, and Acelity L.P. Inc.
Global Diabetic Foot UlcerTherapeutics Market: Key Developments
December 2019: Orpyx MedicalTechnologies Inc. launched Orpyx SI Sensory Insoles with Remote PatientMonitoring for the prevention of diabetic foot ulcers and neuropathy-relatedulcers
November 2019: Pergamum AB, asubsidiary of Promore Pharma AB, a Sweden –based biopharmaceutical company,received a patent in the US for the pharmaceutical formulation of the productcandidate PXL01 used for the treatment of diabetic foot ulcers
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