Pune, June 24, 2020 (GLOBE NEWSWIRE) -- The global diabetic ulcer treatment market size is projected to reach USD 13.53 billion by the end of 2027. The increasing prevalence of diabetes will create several growth opportunities for the companies operating in the market. According to a report published by Fortune Business Insights, titled “Diabetic Ulcer Treatment Market Size, Share and Covid-19 Impact Analysis, By Ulcer Type (Foot Ulcer (Neuropathic Ulcer, Ischemic Ulcer, and Neuro-ischemic Ulcer), Mouth Ulcer, and Others), By Treatment Type (Wound-care Dressings, Wound-care Devices, Active Therapies, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Homecare Settings), and Regional Forecast, 2020-2027,” the market was worth USD 8.32 billion in 2019 and will exhibit a CAGR of 6.4% during the forecast period, 2020-2027.
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Diabetic ulcers are the most common symptom for patients with uncontrolled or unattended diabetes. These are severe conditions and can affect the bottom of your feet as well as the bones in this area. Almost all people suffering from diabetes are exposed at the risks of ulcers. The treatment of these ulcers can vary from patient to patient as well as the severity of the condition. The treatment can also vary depending on the cause of the ulcer.
The severe symptoms associated with foot ulcers such as swelling, discomfort in walking, and redness and irritation, have led to a huge emphasis on the early detection and treatment of the disease. Additionally, mouth ulcers can also cause a lot of discomfort and pain and ultimately impede speech. The increasing investment in the development of efficient treatment options will have a direct impact on the growth of the overall diabetic ulcers treatment market in the coming years.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Number of Regulatory Approvals Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of regulatory approvals by leading organizations such as the Food and Drug Administration (FDA) has made the highest impact on market growth. In December 2017, SANUWAVE Health, Inc. announced that it has received approval from the US Food and Drug Administration for the marketing of its latest product for treatment of ulcers.
The company claims that the ‘Dermaspace System’ is a shock-wave intended device that can be used to treat diabetic foot ulcers. SANUWAVE’s latest shock-wave device will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other products, similar to this, that have also made a considerable impact on market growth.
North America to Emerge Dominant; Adoption of Sedentary Lifestyle Habits to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. Several large scale companies in North America have a technologically sound platform that helps in research and development activities as well as development of newer products.
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It is observed that the United States is a hub for several healthcare companies with an attractive consumer base. The rising adoption of efficient wound-care products will also contribute to the growth of the market. As of 2019, the market in North America was worth USD 3.40 billion and this value is projected to increase further in the coming years. The market in Asia Pacific will derive growth from the constantly rising incidences of foot as well as mouth ulcers in diabetic patients.
List of companies profiled in the Diabetic Ulcer Treatment Market are:
- Coloplast Corp (Denmark)
- Smith & Nephew (UK)
- ConvaTec Group Plc (UK)
- Mölnlycke Health Care AB.(Sweden)
- 3M (U.S.)
- Integra LifeSciences Corporation. (U.S.)
- Cardinal Health. (U.S.)
- Tissue Regenix (U.K)
- B. Braun Melsungen AG (Germany)
Industry Developments:
December 2019: Orpyx Medical Technologies Inc. announced the launch of a new patient monitoring system. The Orpyx SI (Sensory Insoles) is a device integrated with remote patient monitoring system, that can be used for the prevention of diabetic foot ulcer and neuropathy-related ulcers.
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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. Overview of Diabetic Ulcers By Key Country/Sub-region
4.2. Novel & Upcoming Innovative Treatment Options for Diabetic Ulcers
4.3. The Regulatory and Reimbursement Scenario By Country/Sub-region
4.4. Key Industry Developments (Mergers, Acquisitions, Partnerships, New Product Launches, etc.)
4.5. Impact of COVID-19 on Diabetic Ulcers Market
5. Global Diabetic Ulcer Treatment Market Analysis, Insights and Forecast, 2016-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Ulcer Type
5.2.1.Foot Ulcer
5.2.1.1. Neuropathic Ulcer
5.2.1.2. Ischemic Ulcer
5.2.1.3. Neuro-ischemic Ulcer
5.2.2.Mouth Ulcer
5.2.3.Others
5.3. Market Analysis, Insights and Forecast – By Treatment Type
5.3.1.Wound-care Dressings
5.3.1.1. Antimicrobial Dressing
5.3.1.2. Foam Dressings
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 (NPWT)
5.3.2.2. Ultrasound Therapy
5.3.2.3. Hyperbaric Oxygen Therapy (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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