Rising prevalence of diabetes is a major factor driving growth of the diabetic foot ulcers treatment market
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Rising prevalence of diabetes is a major factor driving growth of the diabetic foot ulcers treatment market. 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 report has also stated that another 84.1 million have prediabetes conditions, which if not treated may lead to type 2 diabetes within five years. Furthermore, the CDC stated that between 60% and 70% of the people with diabetes suffers from diabetic neuropathy annually, where the nerves of the feet and legs are mostly affected.
The global diabetic foot ulcers treatment market was valued at US$ 1,209.4 million in 2017 and is expected to witness a robust CAGR of 29.4% over the forecast period (2017–2025).
Rising prevalence of diabetes is expected to favor growth of the diabetic foot ulcers treatment market in the near future
North America accounted for the largest share in the global diabetic foot ulcers treatment market, followed by Europe, in 2017. This is attributed to increasing prevalence of diabetes in North America. According to Center for Disease Control and Prevention, diabetes was the seventh leading cause of death in the U.S. in 2015 and 1.5 million new cases of diabetes were diagnosed among people aged 18 years and older.
Furthermore, CDC partnered with various organizations to launch programs to create awareness about diabetes. For instance, CDC established National Diabetes Prevention Program in 2010, which provides a framework to prevent or delay type 2 diabetes efforts in the U.S., where this program is still active and effective.
In Asia Pacific region, the diabetic foot ulcers treatment market is expected to exhibit a high growth rate over the forecast period. This is owing to increasing number of population suffering from diabetes. For instance, according to The International Diabetes Federation, there were 382 million people with diabetes in 2013, of which over 60% of the people live in Asia, with almost half in China and India combined.
Technological advancement in treatment of diabetic foot ulcers is expected to drive growth of the diabetic foot ulcers treatment market.
Introduction of several novel wound healing agents, which are administrated as a topical ointment or spray or injected directly into the wound is expected to favor growth of the diabetic foot ulcers treatment market. For instance, in August 2017, ViroMed started phase III trial of its VM202 gene therapy for non-healing diabetic foot ulcers and concomitant peripheral artery disease (PAD).
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Furthermore, development of various device such as shock wave, for the treatment of diabetic foot ulcers is also expected to favor growth of the diabetic foot ulcers treatment market in the near future. For instance, in December 2017, the U.S. Food and Drug Administration gave approval for marketing of SANUWAVE Health, Inc., Dermapace System, which is a first shock wave device intended to treat diabetic foot ulcers.
Some major players operating in the global diabetic foot ulcers treatment market include 3M Healthcare, Coloplast A/S, B.Braun Melsungen AG, Acelity L.P. Inc., Smith & Nephew Plc., Medtronic Plc, ConvaTec Inc, and Mölnlycke Health Care.
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