An increase in healthcare expenditure in developing countries is expected to drive the growth of the global diabetic ulcer treatment market.
Strategic mergers & acquisitions are also likely to boost market growth with companies looking to strengthen their market positioning, increase their product portfolios, and improve their brand goodwill. For instance, in May 2019, 3M announced the acquisition of Acelity L.P.Inc. and its KCI subsidiaries for approximately USD 6.7 billion. The acquisition would help 3M strengthen its position in the global diabetic ulcer treatment market.
Increased spending on healthcare. Diabetic ulcer treatment accounted for an estimated hospitalization or amputation costs of USD 35,000 to USD 45,000 in Australia, Europe, and the Americas, and around USD 5,000 in developing countries.
According to MRFR analysis, the global diabetic ulcer treatment market is expected to register a CAGR of 8.50% during the forecast period of 2019 to 2025 and would value USD 7500 Million by 2025.
The Diabetic Ulcer Treatment Market affects the movement or musculoskeletal systems such as muscles, tendons, and ligaments. These disorders are also known as repetitive motion injuries. Diabetic ulcer treatment can arise by making the same motion repeatedly or lifting heavy objects. They affect different parts of the body, mainly the upper and lower back and neck.
The growth of global the diabetic ulcer treatment market is driven by various factors such as increasing global geriatric patient population, rising prevalence, and rising prevalence rate of diabetic foot ulcer patients. However, high costs of diabetic ulcer treatment and unmet medical need for diabetic ulcer in underdeveloped regions are expected to curb the growth of the global diabetic ulcer treatment market.
The global diabetic ulcer treatment market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of diabetic ulcer treatment and rising per capita healthcare expenditure. The diabetic ulcer treatment market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European diabetic ulcer treatment market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The diabetic ulcer treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool of diabetic ulcer treatment and technological advancements in the healthcare sector, Asia-Pacific is expected to be the fastest-growing. The diabetic ulcer treatment market in the Middle East & Africa has been divided into the Middle East and Africa.
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The global diabetic ulcer treatment market has been segmented based on type, treatment, and end user.
The market, based on type, has been divided into foot ulcer, mouth ulcer, and others. The foot ulcer segment is further sub-segmented in neuropathic ulcers, neuro-ischemic ulcers, and ischemic ulcers. The foot ulcer segment holds the major share of the diabetic ulcer treatment market. The proportion of neuropathic ulcers, neuro-ischemic ulcers, and ischemic ulcers shown by a study are 54%, 34%, and 10% respectively. Some factors that mainly cause this ulcer are low awareness, low economic position, ignorance towards foot ulcer, and others. The end user segments of the market are hospitals and clinics, ambulatory surgical centers, academic and research organizations, and others. The hospitals and clinics segment is expected to hold the largest share of the market as these centers are the primary locations for patients receiving ulcer treatments and surgery.
Some of the key players in the global diabetic ulcer treatment market are Smith & Nephew PLC (UK), Integra LifeSciences Corporation (US), SANUWAVE Health, Inc. (US), Cardinal Health (US), ACELITY L.P. INC. (US), ConvaTec Group PLC (UK), Organogenesis Inc. (US), Mölnlycke Health Care AB (Sweden), Essity Aktiebolag (Sweden), 3M (US), and B. Braun Melsungen AG (Germany).
- Increasing geriatric population
- Rise in the prevalence rate of diabetic foot ulcers. One of the most common complications associated with diabetes is diabetic foot ulcerations. It has a global annual incidence rate of 6.3%.
- The upsurge in the adoption of technological advancements in wound care products
- Robust pipeline in diabetic ulcer treatment
- Rising patient population and advancement in health care infrastructure
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