The presence of key players manufacturing foam dressings and hydrocolloid dressing to Augment Growth

2019-11-21

DMI segments the Diabetic Foot Ulcer Market by geography into – North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa.

Diabetic Foot Ulcer Market

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. Diabetic foot ulcer care is also managed by various procedures such as therapeutic footwear, regular dressing, cell therapy or grafts and growth factors, Antibiotic therapy and wound care devices, etc.

Rising Diabetes Prevalence and Development of new technologies and products to Fuel Market

Diabetic foot ulcers is the common consequence and also a considerable cause of morbidity and mortality. Around 10-15% of the diabetes patients develop diabetic foot ulcers. Around 1 to 4% of the diabetic population develop a new foot ulcer every year. Globally, for every 30 seconds one leg is amputated due to diabetes. Around 20% of the hospitalizations among diabetic patients is due to foot ulcers. Since 15 years the rate of hospitalization for diabetic foot ulcers is increased constantly. The occurrence of diabetic foot ulcers is around 0.65% in patients who are less than 44 years old and is around 1.3% in patients who are aged 75 years and older. Thus the above statements show that the prevalence of diabetes and related foot ulcers is increasing globally, hence it is driving the diabetic foot Ulcer market.

Industry players are investing in R&D for developing new products and technologies for treating diabetic foot ulcers. Development of new technologies such as early detection of foot ulcers in diabetic patients such as SmartMat from Podimetrics. In Feb 2018, Sanuwave, Inc. and Suwanee, GA developed Dermapace System, which uses shock waves to heal diabetic ulcers in adults. New developments such as stem cells derived from appendages by China scientists for improved wound healing. Research team from Texas is also developing cord cells for healing wounds. The WIBH team is undergoing studies using sea salt-based sprays to treat diabetic foot ulcers. Thus Increasing new technological developments for early detection and treating diabetic wounds and ulcers will drive the growth in the market.

High Competition among Companies and High R & D Costs to Hinder Market Progress

Increasing number of players from specialized and international corporations is leading to the competitive environment in Diabetic Foot Ulcer Market. Increasing competition will drive the development of new products, which in turn lead to the price competition among the players thus leading to the lower market value in coming years. Rising development of early detection technologies from Medtech companies will lead to the lower ulcer complications. This may affect the diabetic foot ulcer treatment market players with increasing demand for prevention therapies in coming years. Various players are dominating the market with wide range of products along with advanced wound care products at a global level. Small players generally focus on single product line in specific region. Thus the above statements defines the competition in the market. Also, the lower investments in R&D is leading to poor product developments which in turn affects the diabetic foot ulcer market. Cost of diabetic foot ulcer care and the declining number of diabetic foot ulcer cases in recent years is also expected to hamper the market growth.

Foam dressing and Hydrocolloid dressing is anticipated to Gain Notable Traction

By product type, wound care dressing, especially foam dressing and hydrocolloid dressing, are likely to grow at a rapid CAGR in the forecast period. The presence of foam dressing products by the key players is fueling high product update. For instance, Allevyn (Smith&Nephew), Biatain (Coloplast) and Tega-derm (3M) are few foam dressing products. Based on the study conducted by SRM Medical College & Research Institute, polyurethane foam dressings has shown convenient and effective results in treating diabetic foot ulcers. Hydrocolloid dressings such as Granuflex (ConvaTec) and NU DERM (Systagenix), contain hydrocolloid matrix bonded onto a vapour-permeable film or foam backing, which offers occlusive properties and forms a gels by providing moist in wound area. Alternatives such as Fibrous materials namely, Aquacel (ConvaTec) is developed that resemble alginates and are not occlusive and are more absorbent than the standard Hydrocolloid dressings.

North America Diabetic Foot Ulcer Market to Expand Robustly

DMI segments the global diabetic foot ulcer market into – North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa.

North America accounted for largest share of the market in 2018. The driving factors leading to the growth of this market include the rising prevalence of disease, elevated patient awareness levels and growing acceptance for the products in the developed countries. For instance, According to a study by International Diabetics Federation (IDF), the total medical cost for the management of diabetic foot disease in the US ranges from USD 9 to USD 13 billion in 2017. As of 2018, US companies held two of the top five standings for diabetic foot ulcer companies with the most revenue and represented more than 40% of the global market.

Highly Concentrated Competitive Market with Few Major Contributors

The global diabetic foot ulcer market is highly competitive.Key market players include – 3M Healthcare Ltd., Coloplast A/S, B.Braun, Smith & Nephew, ConvaTec Inc., Mölnlycke Health Care, BSN Medical, and Acelity.

Key players are highly investing in R&D for advent of first-in-class products to sustain and improve market competitiveness. Few competitors are also adopting inorganic growth strategies such as mergers & acquisitions to diversify product portfolio and improve geographic footprint.

Diabetic Foot Ulcer Market Taxonomy:

By Product Type

  • Wound Care Dressings
    • Foam Dressing
    • Hydrocolloid Dressing
    • Hydrogel Dressing
    • Alginate Dressing
    • Other Dressing
  • Biologics
    • Growth Factors
    • Skin Graft and Skin Substitutes
  • Others

By Ulcer Type

  • Neuropathic Ulcers
  • Neuro-Ischemic Ulcers

By End-user

  • Hospital
  • Clinics
  • Ambulatory Surgery Centers
  • Homecare Settings

 

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