A patient suffering from diabetic
foot ulcers losses the ability to feel pain. Redness and swelling of the foot
are some common symptoms of the disease. Several topical therapeutics are
available for the treatment of diabetic foot ulcers such as polyhexamethylene
biguanide gel or solutions, dressings containing silver or silver sulphadiazine
cream, iodine, and medical grade honey in ointment or gel form.
The global Diabetic
Foot Ulcer Therapeutics Market is estimated to account for US$ 4,901.1 Mn
in terms of value in 2018 and is estimated to reach US$ 12,021.8 Mn by the end
of 2027.
Global Diabetic Foot Ulcer
Therapeutics Market: Drivers
Developments in regenerative
technology are expected to boost growth of the global diabetic foot ulcer
therapeutics market over the forecast period. For instance, in July 2019, AVITA
Medical announced positive results for a study that assessed its RECELL
Autologous Cell Harvesting Device for the treatment of diabetic foot ulcers.
Global Diabetic Foot Ulcer
Therapeutics Market: Opportunities
Increasing incidence of obesity
is expected to offer lucrative growth opportunities for players in the market.
For instance, according to MedAlertHelp.org, over 1.9 billion adults were
reported as overweight worldwide.
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Global Diabetic Foot Ulcer
Therapeutics Market: Restraints
Availability of alternatives such
as diabetic shoes and natural remedies are expected to hamper growth of the
global diabetic foot ulcer therapeutics market.
Key Takeaways:
Advanced wound dressings segment
in the global diabetic foot ulcer therapeutics market was valued at US$ 1,935.6
Mn 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 support
growth of the segment over the forecast period. For instance, KCI, an Acelity
Company recently expanded its advanced wound dressings (AWD) presence in South
Africa with the launch of Kerracontact Ag Dressing, Kerrafoam Gentle Border
Dressing and Kerramax Care Dressing in July 2019.
The Neuropathic Ulcers segment
held dominant position in the global diabetic foot ulcer therapeutics market in
2018, accounting for 50.5% share in terms of value, followed by Neuro-Ischemic
Ulcers and Ischemic Ulcers, respectively. Rising prevalence of diabetes is a
major factor driving growth of the segment. As According to WHO, The number of
people 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 in
2017, over 100 million of the adults in the U.S. are suffering from prediabetes
or diabetes
The hospitals segment held
dominant position in the global diabetic foot ulcer therapeutics market in
2018, accounting for 37.2% share in terms of value, followed by Specialty Clinics
and Long Term Care Centers, respectively. Increasing hospitalizations for
treatment of diabetes foot ulcers is expected to support growth of the segment.
For instance, according to diabetes Australia, every year there are 10,000
hospital admissions in Australia for diabetes-related foot ulcers
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Market Trends
The market in emerging economies
is driven by rapid growth in medical tourism. For instance, according to India
Brand Equity Foundation’s January 2019 release, the estimated Foreign Tourist
Arrivals (FTAs) in India on medical purpose during the years 2015, 2016, and
2017 were 2,33,918, 4,27,014, and 4,95,056 respectively.
Epidermal growth factor is
effective in the treatment of diabetic foot ulcers. For instance, in July 2019,
researchers at University of Debrecen (Hungary) and Thach University of
Medicine (Vietnam) reported positive results for the use of recombinant human
epidermal growth factor in the treatment of diabetic foot ulcers.
Global Diabetic Foot Ulcer
Therapeutics Market: Competitive Landscape
Major players operating in the
global diabetic foot ulcer therapeutics market include, B. Braun Melsungen AG,
Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris
Inc., 3M, and Acelity L.P. Inc.
Global Diabetic Foot Ulcer
Therapeutics Market: Key Developments
December 2019: Orpyx Medical
Technologies Inc. launched Orpyx SI Sensory Insoles with Remote Patient
Monitoring for the prevention of diabetic foot ulcers and neuropathy-related
ulcers
November 2019: Pergamum AB, a
subsidiary of Promore Pharma AB, a Sweden –based biopharmaceutical company,
received a patent in the US for the pharmaceutical formulation of the product
candidate PXL01 used for the treatment of diabetic foot ulcers
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