Sarasota, FL -- (SBWIRE) -- 02/23/2019 -- Global Diabetic Foot Ulcer (DFU) Treatment Market: Overview
Diabetic Foot Ulcer (DFU) is mainly caused due to vascular and neuropathic complications. The neuropathic complications lead to complete loss of sensation in foot and leg, this condition is known as diabetic neuropathy. Improper blood flow leads to ulceration. The diabetic foot ulcers are difficult to heal as the wound does not get enough nutrients or oxygen from blood, leading to the risk of lower limb amputation and hence they are required to be treated to avoid the foot amputation along with halting the growth as well as spreading of ulcers to other parts of the body. In addition, both gram-positive and gram-negative organisms play a vital role in spreading of DFU.
Diabetic foot ulcers are most commonly caused by irritated or wounded feet, nerve damage, poor circulation, and high blood sugar (hyperglycemia). Unusual swelling, redness, irritation, and stenches on one or both feet are common initial symptoms of foot ulcer.
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Global Diabetic Foot Ulcer (DFU) Treatment Market: Growth Factors
Growing occurrence of diabetes and rapidly growing geriatric population worldwide are among the primary growth stimulants for diabetic foot ulcer (DFU) treatment market.
However, the high cost of ulcer management has been obstructing the diabetic foot ulcer (DFU) treatment market from realizing its true potential. Many developing and underdeveloped countries demonstrate a lack of healthcare facilities, subsequently limiting the scope of business. However, the adoption of novel therapeutics improved biologics, and continued prioritization to avoid surgeries and amputations are estimated to offset limitations affecting the growth of the diabetic foot ulcer (DFU) treatment market. This, in turn, will provide significant growth opportunities for the diabetic foot ulcer (DFU) treatment market in the ensuing years. Furthermore,
Furthermore, new product launches such as FirstString Research's Granexin gel, ViroMed's VM 202, and Oneness Biotech's WH-1 ointment is anticipated to not only drive the market growth but will offer tremendous relief to the patients.
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Global Diabetic Foot Ulcer (DFU) Treatment Market: Segmentation
The global diabetic foot ulcer (DFU) treatment market can be classified based on the treatment and ulcer type. On the basis of treatment, the market is sectored into Biologics, Wound Care Dressings, and Therapy Devices. Based on the ulcer type, the diabetic foot ulcer (DFU) treatment market is segmented into Ischemic, Neuro-Ischemic, and Neuropathic types.
Global Diabetic Foot Ulcer (DFU) Treatment Market: Regional Analysis
Based on regions, the global diabetic foot ulcer (DFU) treatment market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America is likely to dominate the market over the coming years. The rising number of diabetic patients and adequate healthcare facilities in the region are key factors responsible for the growth of the regional market. Extensive R&D activities and approval cycles are required due to the capital-intensive nature of treatment in North America, which act as a stumbling stone for the growth of the market in the region. However, rising adoption of novel biologics and wound care devices for treatment of these ulcers are contributing towards the regional market dominance of North America.
Europe is anticipated to continue maintaining its second largest position in the global diabetic foot ulcer (DFU) treatment market after North America. It will be followed by the Asia Pacific. APAC will exhibit the highest CAGR during the forecast period with escalating prevalence of diabetes and presence of large geriatric population base in countries such as India and China The regional market growth can also be attributed to increased adoption of the new treatment methods along with the implementation of legislation favoring the DFU treatment in developed economies such as Japan and Australia.
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LATAM and MEA markets are anticipated to have bright growth prospects in the coming years and are likely to be the lucrative business destinations for the new entrants as well as the behemoths.
Global Diabetic Foot Ulcer (DFU) Treatment Market: Competitive Players
The diabetic foot ulcer (DFU) treatment market is dominated by key players such as ConvaTec, Inc., Acelity L.P. Inc., 3M Healthcare, Coloplast A/S, Smith & Nephew Plc., B. Braun Melsungen AG, Medline Industries, Inc., Medtronic Plc., Organogenesis, Inc., Molnlycke Health Care AB, and BSN Medical GMBH.
Global Diabetic Foot Ulcer (DFU) Treatment Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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