The global market for diabetic foot ulcer therapeutics is expected to represent absolute $ opportunity of more than US$ 300 Mn in 2017 over 2016 and incremental opportunity of more than US$ 5,000 Mn between 2016 and 2024. Persistence Market Research forecasts the global diabetic foot ulcer therapeutics market to grow from a little more than US$ 4,000 Mn in 2017 to reach a market valuation in excess of US$ 8,000 Mn by 2024 end. This represents a CAGR of 11.4% over the estimated period.
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- B. Braun Melsungen AG
- Smith & Nephew, Inc.
- Organogenesis, Inc.
- Derma Sciences Inc.
- Sigvaris Inc.
- Acelity L.P. Inc.
- Innocoll Holdings plc.
- SIGVARIS, Inc.
Rising occurrence of diabetes and rise in the incidence of diabetic foot ulcer is likely to create a positive impact on the global diabetic foot ulcer therapeutics market
A growing population affected by diabetes and a subsequent increase in the number of people afflicted with diabetic foot ulcer is likely to impact the global diabetic foot ulcer therapeutics market in a positive manner over the forecast period. Furthermore, continued prioritization to avoid surgeries and amputations is expected to fuel the growth of the global diabetic foot ulcer therapeutics market over the predicted period. Diabetes mellitus is one of the most important public health concerns worldwide, with an increased risk of developing diabetic foot ulcer.
Hence, a number of clinical trials are being conducted currently wherein a large number of organizations are actively participating in extended research programs to develop novel therapies for diabetic foot ulcer treatment. Individuals with an increased risk of diabetes are demonstrating alarming hospitalization rates as a result of diabetes foot ulcer infection. This has resulted in a rise in the number of amputations. The occurrence of diabetes and associated risk factors are increasing at an alarming rate, which is expected to fuel revenue growth of the global diabetic foot ulcer therapeutics market during the period of assessment.
Major market players in the global diabetic foot ulcer therapeutics market are introducing innovative and expanded line products to retain their global market share. Over the last few decades, an increasing number of diabetic foot ulcer therapeutics manufacturers have been focusing on introducing breakthrough advanced wound dressings for diabetic foot ulcer management.
This includes novel dressings with the ability to confer moisture balance with prolonged time of action, extended oxygen permeability, antimicrobial activity, growth factor stimulation, and the ability to promote autolytic debridement thus facilitating the re-epithelialization process. This factor is creating robust development in the global diabetic foot ulcer therapeutics market.
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Neuro-Ischemic ulcers segment anticipated to dominate the global diabetic foot ulcer therapeutics market by ulcer type segment
By ulcer type, the Neuropathic ulcers segment is estimated to expand at a CAGR of 8.6% over the forecast period and be valued at more than US$ 3,000 Mn by 2024 end. The Ischemic ulcers segment was estimated to account for more than 5% revenue share of the global diabetic foot ulcer therapeutics market by 2016 end and is expected to gain a little more than 40 BPS in its market share by 2024 over 2016.
Revenue from the Ischemic ulcers segment is projected to increase at a CAGR of 12% over 2016–2024, to reach more than US$ 500 Mn by 2024. The Neuro-Ischemic ulcers segment was estimated to account for a market value share of close to 40% in the global diabetic foot ulcer therapeutics market by 2016 end and is expected to gain more than 500 BPS in its market share by 2024 over 2016.
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