Diabetic Ulcer Treatment Market Share, Demand, Growth, Application and Forecast to 2027
The global diabetic ulcer treatment market is expected to display a CAGR of 8.5% over the forecast period. It was valued at USD 7500 million in 2018. The large healthcare expenditure of nations in Europe, Americas, and other developing countries can drive the diabetic ulcer treatment market growth exponentially. Rising number of diabetics has driven the need for diabetic ulcer treatment. According to the American College of Physicians, diabetic foot ulcers statistics accounted to 6.3% cases annually. Standards outlined by healthcare organizations for getting annual foot exams annually can work in favor of the diabetic ulcer treatment market.
Diabetic ulcers are open wounds that appear in diabetics at the bottom of their foot. It is most commonly found in older men. Treatment of ulcers and amputations caused by these cost massive hospitalization fees and has triggered the need for effective therapies and methods. The global diabetic ulcer treatment market share by Market Research Future (MRFR) looks at amputations and neurological indications of these ulcers and predicts the future of their treatments for the period of 2019 to 2025 (forecast period).
Diabetic Ulcer Treatment Market Competitive Outlook
Cardinal Health, Integra LifeSciences Corporation, ACELITY L.P. INC., Essity Aktiebolag, Smith & Nephew PLC, Organogenesis Inc., Mölnlycke Health Care AB, Braun Melsungen AG, SANUWAVE Health, Inc., ConvaTec Group PLC, and 3M are some of the notable players profiled in the global diabetic ulcer treatment market. Mergers, new product launches, and acquisitions are prime strategies of the players in the market. Recently, Organogenesis Holdings Pvt Ltd. has launched biomaterials in an effort to expand its wound dressing product line and to appeal to patient demand. Clinical trials are also being conducted to test the efficacy and performance of treatments.
Diabetic Ulcer Treatment Market Segmentation
The Global Diabetic ulcer treatment market has been segmented by type, treatment, and end-user.
By type, Diabetic Ulcer Treatment Market has been divided into foot ulcer and mouth ulcer. The foot ulcer segment accounted for a large share of the global market. The primary factor driving the segment growth is the complications arising due to diabetes mellitus and the large pool of patients. Use of wound dressings and biologics for lowering the rate of amputations and successful treatment of DFU can drive the diabetic foot ulcer market during the forecast period.
By treatment, the diabetic ulcer treatment market is segmented into active therapies, wound care dressings, diabetic foot ulcer treatment products and wound care devices. Wound dressing held the largest share of the market due to the large number of diabetics.
By end-user, the diabetic ulcer treatment market is segmented into academic and research organizations, hospitals and clinics, and ambulatory surgical centers. Hospitals and clinics accounted for the largest market share due to awareness campaigns by governments and favorable reimbursement schemes. Launch of mobile applications for creating awareness among the masses has successfully driven patients towards hospitals and clinics for diabetic ulcer treatment.
Diabetic Ulcer Treatment Market Regional Analysis
Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Americas are regions covered with respect to the global diabetic ulcer treatment market.
The Americas can spur the demand for diabetic ulcer treatment due to the large number of cases of diabetics. According to the American Podiatric Medical Association, close to 14-24% of Americans with diabetic foot ulcers have undergone amputations. The high potential of the combination of debridement and continuous diffusion of oxygen (CDO) has seen successful outcomes in treatment of diabetic foot ulcers (DFU).
APAC can display a robust growth rate during the forecast period owing to a large patient pool and the developing healthcare sector in India and China.
The mobility or musculoskeletal systems, such as muscles, tendons, and ligaments, are affected by diabetic ulcer treatment. Repetitive motion injuries are another name for these conditions. Treatment for diabetic ulcers can be as simple as repeating the same motion or lifting heavy objects. They affect many regions of the body, primarily the upper and lower backs, as well as the neck.
Various factors such as the growing worldwide geriatric patient population, rising prevalence, and rising prevalence rate of diabetic foot ulcer patients are driving the growth of the global diabetic ulcer treatment market. In many developing nations, lack of information of diabetic ulcer treatment choices and a scarcity of qualified experts in diabetic ulcers, particularly foot ulcer care, are likely to stifle market expansion.
Several major companies currently control the worldwide diabetic ulcer therapy market. To increase their market positions, the leading companies are involved in product launches and strategic collaborations. Many prominent players’ geographic expansion product offerings are also likely to give a fantastic chance for the market to grow significantly.
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