Yahoo Finance Global Diabetic Foot Ulcer Treatment Market to Surpass US$ 12,653.3 Million by 2028; Owing to development in non-invasive treatment approach, Says Coherent Market Insights (CMI)
SEATTLE, July 27, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global diabetic foot ulcer treatment market is estimated to be valued at US$ 6,411.3 million in 2021 and is expected to exhibit a CAGR of 10.2% during the forecast period (2021-2028).
Key Trends and Analysis of the Global diabetic foot ulcer treatment Market:
Key trends in the market include new product launches and regulatory approvals, which are expected to drive the global diabetic foot ulcers treatment market growth over the forecast period. For instance, in September 2020, Centaur Pharmaceutical, a provider of pharmaceutical research and manufacturing services intended to offer treatments for unmet medical needs, announced the launch of a new chemical entity (NCE) – WOXheal topical solution for the treatment of diabetic foot ulcers.
Furthermore, in February 2021, Oneness Biotech., a Taiwan-based biopharmaceutical company received approval from Taiwan Ministry of Health and Welfare for the New Drug Application (NDA) for its plant-based topical cream ON101 to treat diabetic foot ulcers.
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Key Market Takeaways:
The global diabetic foot ulcer treatment market is expected to exhibit a CAGR of 10.2% during the forecast period due to increasing research and development in non-invasive approaches for the treatment of diabetic foot ulcers and this is expected to drive the global diabetic foot ulcer treatment market over the forecast period. For instance, in November 2019, researchers from University of Johannesburg (South Africa) reported the review for use of photobiomodulation (PBM), a non-invasive application of light at specific wavelengths, in diabetic wound healing.
Among product, advanced wound dressings segment is estimated to hold a dominant position in the global diabetic foot ulcer treatment market over forecast period. Key players in the market are adopting inorganic strategies such as acquistition which is expected to drive the growth of segment over forecast period. For instance, in May 2019, 3M American multinational conglomerate corporation operating in the fields of industry, worker safety, U.S. health care, and consumer goods, acquired Acelity, Inc., a global advanced wound care company committed to developing innovative healing solutions for customers and patients, to strengthen its wound management solutions and expand its customer pool.
On the basis of ulcer type, neuro-ischemic ulcers segment estimated to hold a dominant position in the global diabetic foot ulcer treatment market over forecast period. Rising prevalence of diabetes is a major factor driving growth of the segment. For instance, according to a report published by Center for Disease Control and Prevention in 2017, over 100 million of the adults in the U.S. were suffering from prediabetes or diabetes.
Competitive Landscape:
Key players operating in the global diabetic foot ulcer treatment market include 3M Healthcare, B. Braun Melsungen AG, Smith & Nephew, Inc., Organogenesis, Inc., Derma Sciences Inc., Sigvaris Inc., Acelity L.P. Inc., Osiris, and Molnlycke Health Care AB.
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Market Segmentation:
Global Diabetic Foot Ulcer Treatment Market, By Product :
Advance Wound Dressings
Skin Substitutes
Growth Factors
Negative Pressure Wound Therapy Devices
Other Devices
Global Diabetic Foot Ulcer Treatment Market, By Ulcer Type:
Neuropathic Ulcers
Ischemic Ulcers
Neuro-ischemic Ulcers
Global Diabetic Foot Ulcer Treatment Market, By End User:
Hospitals
Specialty Clinics
Long Term Care Centers
Ambulatory Surgical Center
Global Diabetic Foot Ulcer Treatment Market, By Region:
North America
By Country
U.S.
Canada
Latin America
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country
GCC
Israel
Rest of Middle East
Africa
By Region/Country
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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