(PharmaNewsWire.Com, October 18, 2019 ) Market Overview: Diabetic foot ulcer is a common condition in diabetic patients and is a key health concern worldwide. Diabetic foot ulcers are thickened wounds below the ankle. It is caused by irritated or wounded feet due to minor trauma or pressure, neuropathic and vascular changes, poor circulation, and high blood sugar. Healing of wounds is typically an innate mechanism of our body but, certain metabolic disorders such as diabetes mellitus delays the typical pace of the wound healing process. Swelling, redness, irritation, and stenches are common initial symptoms of foot ulcers.
Market Dynamics: The major drivers fueling the growth of the market are the rising prevalence of chronic diabetes, rapidly growing geriatric population worldwide and advancements in the field of research.
According to an article by Bakker et al, it is estimated that around 15% of all people with diabetes are affected by foot ulcers during their lifetime and 1 in 4 people with diabetes develop at least one ulcer. For every 30 seconds, one leg is amputated due to diabetes. This is mainly because people affected with diabetes are prone to bruises and ulcers caused on feet and even other parts.
The high cost of ulcer management, lack of healthcare facilities, high costs of research and development and huge competition among major companies are going to restrain the market in the forecast period.
Market Segmentation: The market can be segmented by product type as Wound Care Dressings, Biologics, and others. Wound Care Dressings is further classified as Foam Dressing, Hydrocolloid Dressing, Hydrogel Dressing, Alginate Dressing and Others Dressing, Biologics is further segmented as Growth Factors and Skin Graft and Skin Substitutes. By ulcer type, the market is segmented as Neuropathic Ulcers and Neuro-Ischemic Ulcers and by end-user as Hospital, Clinics, Ambulatory Surgical Centers and Homecare Setting.
Dressing is the most widely used treatment for diabetic foot care. The management of diabetic foot ulcers is carried by various wound care dressings procedures including foam dressing, hydrocolloid, hydrogel, alginate, and other dressings. Foam dressings are generally comprised of hydrophilic polyurethane foam that absorbs wound fluids, maintain moist around wound surface, and promotes healing. Based on the study conducted by SRM Medical College & Research Institute, polyurethane foam dressings shown convenient and effective results in treating diabetic foot ulcers.
Geographical Analysis: By geography, the Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America held the largest share of the diabetic foot ulcer market owing to the rising prevalence of diseases, elevated patient awareness levels and growing acceptance for the products. US has the highest standards of health care. According to International Diabetes Federation (IDF), over 100 million of the adults in the US are suffering from prediabetes or diabetes and another 84.1 million have prediabetes conditions, which if not treated may lead to type 2 diabetes within five years. The total medical cost for the management of diabetic foot disease in the United States ranges from the US $ 9 to the US $ 13 billion in 2017.
The Asia Pacific market is expected to have the highest growth rate over the period of forecast because of the growing population and increasing healthcare expenditure.
Competitive Analysis: Some of the major market players are 3M Healthcare Ltd., Coloplast A/S, B.Braun, Smith & Nephew, ConvaTec Inc., Molnlycke Health Care, BSN Medical and Acelity.
About Us: DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information: Sai Kiran Sales Manager at Data M Intelligence Email: pr@datamintelligence.com Tel: +1 877 441 4866 Website: www.datamintelligence.com
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
