Diabetic foot ulcer is a common circumstance in diabetic patients, which may additionally cause amputation of the leg. People who rely on insulin for the treatment of diabetes are at high risk of growing a foot ulcer. Moreover, people affected by diabetes-associated kidney, eye, and heart sickness and weight problems also can be afflicted by diabetic foot ulcer. The danger of the disorder is excessive in the ones ingesting alcohol and tobacco.
Market Dynamics
Drivers
- Constant rise in prevalence of diabetes
- Increasing Patients with high risk of acquiring diabetes
- Development of new technologies and products
Constant rise in prevalence of diabetes
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. In US, around 9% of the population are associated with diabetes and about 73,000 amputations of the lower limb is performed every year among diabetic patients. 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 treatment market.
Development of new technologies and products
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 the 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. Northwestern University is developing regenerative bandages with a mix of proteins and various cells. 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.
Restraints
- High competition among the companies
- High R & D costs
- Cost of diabetic foot ulcers care
- Declining new cases
Cost of diabetic foot ulcers care
The cost of diabetic foot ulcer treatment is changing over time.
In 1996, about 6% of hospital inpatients were diagnosed with diabetes and lower extremity ulcers associated with a stay of 13 to 14 days.
In 1996, hospital reimbursement for lower extremity amputation from Medicare was USD 13,512 and from private insurers was USD 26,126.
The annual cost for treating diabetic foot ulcers has increased considerably from USD 578.4 million in 2005 to USD 790 in 2010.
Rise in patient comorbidities has also increased patient hospitalization costs for diabetic foot ulcer care in recent years.
Increasing minor amputations, open revascularization and endovascular revascularization among patients is also driving the costs of hospital care.
An average of 9 to 12 days of hospitalization is required for diabetic patients after a lower limb amputation.
