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Diabetic Foot Ulcer Therapeutics Market – Insights

Diabetic foot ulcer is a common condition in diabetic patients, which may lead to amputation of the leg. People who rely on insulin for the treatment of diabetes are at high risk of developing a foot ulcer. Moreover, people suffering from diabetes-related kidney, eye, and heart disease and obesity can also suffer from diabetic foot ulcer. The risk of the disease is high in those consuming alcohol and tobacco.

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

Increasing prevalence of diabetes and subsequent rise in incidence of diabetic foot ulcers is expected to propel growth of the global diabetic foot ulcer therapeutics market over the forecast period. For instance, According to the study, ‘Global Prevalence of Type 2 Diabetes over the Next Ten Years (2018-2028)’, published by the American Diabetes Association, 500 million people worldwide suffered from type 2 diabetes in 2018. Moreover, in June 2018, the prevalence of diabetic foot ulcers was 51.8% in a community-based study conducted by Kasturba Medical College, India.

Availability of explicit dressings for specific type of foot ulcers is also expected to aid in growth of the market. For instance, hydrocolloid dressings such as DuoDERM or IntraSite hydrocolloid are available for dry and desiccated wounds. Such dressings help maintain moist environment for faster wound healing and allow autolytic debridement. Absorptive dressings including calcium alginates (e.g., Kaltostat and Curasorb) are available for exudative wounds in rope form.

North America region held dominant position in the global diabetic foot ulcer therapeutics market in 2018, accounting for 37.8% share in terms of volume, followed by Europe.

Global Diabetic Foot Ulcer Therapeutics Market: Restraints

High cost of diabetic foot ulcer medication and care is expected to hinder growth of the global diabetic foot ulcer therapeutics market. For instance, according to Therapeutic Advances in Endocrinology and Metabolism 2018, the total medical cost for the management of diabetic foot disease ranges from US$ 9 billion to US$ 15 billion in the U.S.

Moreover, lack of awareness regarding specific treatment options, especially in emerging economies is also expected to limit growth of the market.

Global Diabetic Foot Ulcer Therapeutics Market: Opportunities

R&D in non-invasive approaches for the treatment of diabetic foot ulcers is expected to offer lucrative growth opportunities for players in the market. For instance, in November 2019, researchers from University of Johannesburg (South Africa) reported the review for use of photobiomodulation (PBM), a non-invasive application of light at specific wavelengths, in diabetic wound healing.

Moreover, increasing consumption of alcohol and tobacco is also expected to aid in growth of the market. For instance, according to the World Health Organization, 1.337 billion people smoked tobacco worldwide in 2018.

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.

Market Trends/Key Takeaways

The market is witnessing increasing expenditure on diabetes. For instance, according to The American Diabetes Association’s research released in March 2018, the estimated total cost of diagnosed diabetes increased to US$ 327 billion in 2017 from US$ 245 billion in 2012.

The demand for biologic skin substitutes such as Apligraf and DermaGraft (Organogenesis Inc.) is high for the treatment neuropathic diabetic foot ulcers. Apligraf is the only FDA-approved living, bi-layered cell based product and is supplied as a circular disc approximately 75 mm in diameter and 0.75 mm thick.

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

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in January 2020, Zhittya Genesis Medicine, Inc. partnered with Regenerative Medicine of Latin America, Inc. for the exclusive rights to market and sell all biological drugs developed by Zhittya Genesis Medicine, Inc. during a 30-year time period. The products include biological drugs for the treatment of coronary heart disease, diabetic foot ulcers, and others.

Major players in the market are also focused on conducting clinical trials to expand their product portfolio. For instance, in January 2020, Smith+Nephew announced that positive results for the clinical trial that assessed the efficacy of PICO Single Use Negative Pressure Wound Therapy System in reducing wound area, depth, and volume compared to traditional negative pressure wound therapy in patients with lower extremity ulcers were published in the journal Wound Repair and Regeneration.