Pune, Jan. 15, 2020 (GLOBE NEWSWIRE) -- The global Diabetic Foot Ulcer Treatment Market size is prophesized to reach USD 11.09 billion by 2026 owing to the increasing prevalence of diabetic foot ulcers among diabetic patients worldwide. A report published by Fortune Business Insights™ titled, “Diabetic Foot Ulcer (DFU) Treatment Market Size, Share & Industry Analysis, By Ulcer Type (Neuropathic Ulcer, Ischemic Ulcer, Neuro-ischemic Ulcer), By Product (Wound-care Dressings, Wound-care Devices, Active Therapies, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Homecare Settings), and Regional Forecast, 2019-2026,” states that market value was USD 6.62 billion in 2018. It is likely to exhibit a CAGR of 6.8% and grow steadily within the forecast duration, 2019- 2026.
Report Overview:
The Diabetic Foot Ulcer Treatment Market analysis offers a 360-degree overview of the market with a major emphasis on growth drivers, restraints, challenges, and opportunities. The report lists various segments of the market. It also provides a competitive landscape with base and forecast figures and the CAGR. The report also lists the names of significant players and their key strategies such as mergers and acquisitions, product launches, investments in research and development of clinical trials, company collaborations, and other Diabetic Foot Ulcer Treatment Market trends.
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Rising Geriatric Population and Increasing Cases of Diabetic Foot Ulcer to Boost Market
The increasing prevalence of diabetes is a major factor augmenting the Diabetic Foot Ulcer Treatment Market growth. In addition, the rise in the geriatric population and their vulnerability to various issues are also opening doors of opportunity for the market. As per the article published by the National Center for Biotechnology Information, diabetic foot ulcer is 13% prevalent in North America. It also states the yearly incidence of necrosis or diabetic foot ulcer is about 2-5%, and the lifetime risks vary between 15 to 20%. The above figures indicate a large number of the patient pool for availing treatment options for a diabetic foot ulcer. This, in turn, is anticipated to help increase the overall Diabetic Foot Ulcer Treatment Market size during the forecast period.
The increasing awareness about diabetic ulcers and the availability of treatment options for this ulcer is anticipated to further attract high Diabetic Foot Ulcer Treatment Market revenue in the coming years. Furthermore, ongoing clinical trials that yielded favorable results for treating diabetic foot ulcer is further prognosticated to increase the overall Diabetic Foot Ulcer Treatment Market growth in the near future.
High Product Cost to Help North America Earn Dominate Share
In terms of geographical outlook, North America earned the dominant Diabetic Foot Ulcer Treatment Market share in the year 2018. This is owing to the rising prevalence of foot ulcers among people with diabetes, and the high cost of products. Additionally, the advent of advanced technologies for therapeutic procedures and high expenditure on health is also responsible for the region to dominate the market.
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On the other side, Europe ranked second largest Diabetic Foot Ulcer Treatment Market share on account of the rise in adoption of advanced options for treatment in nations such as U.K., France, and Germany. Furthermore, the increasing geriatric population and rising prevalence of diabetic foot ulcers in Asia Pacific are likely to help this region witness a high CAGR in the forecast period.
Players to Focus on Geographical Expansion for Earning Lion’s Share in Market
Currently, the market is dominated by four significant players namely Mölnlycke Health Care AB., Coloplast Corp, ConvaTec Group Plc, and Smith & Nephew. This dominance is attributed to the strong presence of the brand and the presence of a wide range of product offerings. Besides this, there is continuous investment in product development and robust speed in research activities which will further help to attract high Diabetic Foot Ulcer Treatment Market revenue in the forecast period. In addition, Players are also stressing on entering into strategic partnerships for expanding their geographical boundaries worldwide.
Some of the key industry developments in the Diabetic Foot Ulcer Treatment Market are:
July 2018 – A German wound care products vendor SastoMed GmbH was acquired by Mölnlycke. The main objective is to expand their product offerings for accelerating their wound healing process and treating chronic wounds such as diabetic foot ulcers.
December 2017 – FDA approved Sanuwave Heath Inc. for marketing its first shock wave device called Dermapace System, meant for treating diabetic foot ulcers.
December 2019 – Orpyx SI Sensory Insoles with remote patient monitoring was launched by Orpyx Medical Technologies Inc. This is mainly used for preventing neuropathy-related ulcers and diabetic foot ulcers.
List of the key Companies Operating in the Diabetic Foot Ulcer Treatment Market are:
- Integra LifeSciences Corporation.
- Smith & Nephew
- Tissue Regenix
- Coloplast Corp
- B. Braun Melsungen AG
- 3M
- Cardinal Health.
- ConvaTec Group Plc
- Mölnlycke Health Care AB.
- Other Players
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Detailed Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Prevalence of Diabetic Foot Ulcer by Key Countries/Regions
4.2. The Regulatory Scenario by Key Countries/Regions
4.3. Overview of New Product Launches and Developments
4.4. Key Industry Developments (Mergers, Acquisitions, and Partnerships)
5. Global Diabetic Foot Ulcer (DFU) Treatment Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Ulcer Type
5.2.1. Neuropathic Ulcer
5.2.2. Ischemic Ulcer
5.2.3. Neuro-Ischemic Ulcer
5.3. Market Analysis, Insights and Forecast – By Product
5.3.1. Wound-care Dressings
5.3.1.1. Antimicrobial Dressing
5.3.1.2. Foam Dressing
5.3.1.3. Film Dressings
5.3.1.4. Alginate Dressings
5.3.1.5. Hydrogel Dressings
5.3.1.6. Other Dressings
5.3.2. Wound-care Devices -
5.3.2.1. Negative Pressure Wound Therapy
5.3.2.2. Ultrasound Therapy
5.3.2.3. HBOT
5.3.2.4. Others
5.3.3. Active Therapies
5.3.3.1. Skin Grafts & Substitutes,
5.3.3.2. Growth Factors
5.3.3.3. Others
5.3.4. Others
5.4. Market Analysis, Insights and Forecast – By End User
5.4.1. Hospitals
5.4.2. Clinics
5.4.3. Ambulatory Surgical Centers
5.4.4. Homecare Settings
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
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