Global Diabetic Neurotherapy Foot Ulcers Market - 2023-2030

Global Diabetic Neurotherapy Foot Ulcers Market - 2023-2030

Market Overview

Diabetic Neuropathic Foot Ulcers Market size was valued at US$ XX million in 2023 and is estimated to reach US$ XX million by 2030, growing at a CAGR of 8.4% during the forecast period (2023-2030).

The most frequent foot wounds resulting in lower extremity amputation are diabetic ulcers. General practitioners are crucial in the early detection or prevention of diabetic foot problems. The management of the diabetic foot necessitates in-depth familiarity with the primary amputation risk factors, routine evaluation, and meticulous preventive maintenance. The most frequent ulcer-forming risk factors include peripheral artery occlusive disease, structural foot deformity, and diabetic neuropathy.

Market Dynamics

The major factors driving the global diabetic neurotherapy foot ulcers market are the expansion is accelerated by the increasing number of diabetic foot ulcers, the market will be driven by treatment technology advancement and there are specific dressings available for a particular type of foot ulcer.

The expansion is accelerated by the increasing number of diabetic foot ulcers.

Patients with diabetes are prone to developing diabetic foot ulcers, which can necessitate the amputation of the leg. Patients with diabetes who use insulin to control their condition are more likely to develop a foot ulcer. In addition to diabetes, individuals with obesity, kidney, eye, and heart issues may also develop diabetic foot ulcers. Use of tobacco and alcohol both raises the risk of the illness.

According to the National Institutes of Health (U.S.A.), between 9.1 and 26.1 million diabetic foot ulcers occur annually over the world. In their lifetime, 15 to 25% of people with diabetes mellitus will get a diabetic foot ulcer. The prevalence of diabetic foot ulcers will inevitably rise as more people are diagnosed with diabetes each year. Although diabetic foot ulcers can develop at any age, they are most common in those with diabetes mellitus who are over 45. The majority of Americans with foot ulcers are Latinos, African Americans, and Native Americans. Thus, the growth is sped up by an increase in the incidence of diabetic foot ulcers.

Costly advanced wound care products and therapies of diabetic neurotherapy foot ulcers (DME) is expected to hamper the market’s growth.

A diabetic foot ulcer is the most prevalent consequence of diabetes and a substantial cause of death. It is anticipated that ongoing technical developments in therapeutic alternatives will slow the market's growth because extracellular proteins, therapeutic agents, and other options have become too expensive.

COVID-19 Impact Analysis

The virus has spread to over 75 countries since the COVID-19 viral outbreak in December 2019, and the World Health Organization declared it a public health emergency. For instance, as of July 2021, about 190 million people worldwide were infected due to the coronavirus (COVID-19) manifestation, according to a study from the World Health Organization.

Three main ways that COVID-19 can affect the economy are directly altering supply and demand, disrupting distribution networks, and having an economic impact on businesses and financial markets. Many nations, including China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others, have difficulty moving pharmaceuticals from one location to another due to widespread lockdowns. Furthermore, the COVID-19 pandemic poses significant obstacles for industry participants in the worldwide diabetic foot ulcer therapy market on numerous fronts. The availability of raw materials required to make pharmaceutical formulations is one of the major problems caused by transportation irregularities. Additionally, because of a rise in patients with COVID-19 and other life-threatening illnesses, distributors see irregular demand for their products from stores.

Segment Analysis

The wound care dressing diabetic Neurotherapy foot ulcers-type segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The advanced wound dressings segment dominated the market for treating diabetic foot ulcers worldwide. There are many kinds of hydrogel dressings for wound treatment, including alginate dressings, hydro fiber dressings, surgical dressings, and others. Foam dressings are the most popular type of wound care treatment nowadays. Patients who have non-healing wounds can benefit from advanced wound care dressings. It is an active non-woven wound dressing made entirely of natural biopolymer. The 360-degree, dynamic mode of action of wound care dressings allows for efficient discharge control, pain reduction, infection control, active wound healing, and scar improvement. The excellent absorption capacity and painless removal of wound care dressings enhance patient comfort. As a result, they are widely employed for the care of wounds in various phases, and key players are also releasing new products, which boosts the market for this category.

For instance, in October 2022, A new line of wound dressings named Theruptor Novo was introduced by Bengaluru-based Healthium Medtech for treating chronic wounds, including leg and foot ulcers caused by diabetes. With the introduction of Theruptor Novo, Healthium expands the range of proprietary solutions it already offers in the market for advanced wound dressings.

For instance, in September 2021, The American Company Human Biosciences (HBS) hinted that it would soon launch two wound care products in the Indian market. The two items have the names ""Medifil"" and ""Skin Temp, according to an announcement from the company. The company plans to offer two of its wound care management products, ""Medifil"" and ""Skin Temp"" in India soon.

Geographical Analysis

North America holds the largest market share in the global diabetic neurotherapy foot ulcers market.

The most prevalent illness in this age range is diabetes, which frequently results in diabetic foot ulcers. The prevalence of diabetic foot ulcers has increased due to people living more sedentary lifestyles. In this region, diabetes affects one in two people, which has helped to increase the demand for diabetic foot ulcer treatments. The International Diabetes Federation 2021 estimates that 51 million people in North America and the Caribbean now have diabetes. More than 20 million Americans are thought to experience peripheral neuropathy. However, given that not everyone who displays neuropathy symptoms is tested for the condition and that tests are currently not developed to detect all forms of neuropathy, this number may be much higher.

Major market competitors, rising healthcare GDP spending, and enhanced reimbursement for DFU therapy primarily influence the region's market growth. According to the Canadian Diabetes Association 2020, diabetes accounts for 70% of lower limb amputations carried out in hospitals and are the most common reason for non-traumatic lower limb amputation in Canadian adults. Canadian individuals with diabetes are nearly 20 times more likely than the general population to have non-traumatic lower limb amputations, 85% of which are preceded by a foot ulcer.

Competitive Landscape

The diabetic neurotherapy foot ulcers market is moderately competitive with local and global companies’ presence Medtronic, Organogenesis, Inc, Acelity L.P., Inc, B Braun Melsungen AG, Coloplast Corp, Smith & Nephew Plc, Medline Industries, Inc, 3M Healthcare, Molnlycke Health Care AB, Hyper oil and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in June 2022, Smith+Nephew will spend over $100 million to build a top-notch research and development, manufacturing, and flexible office building. A funding from the UK government will also help to fund the development. In its first ten years of operation, the new factory is anticipated to support sales of more than $10 billion.

Hyper Oil.

Overview: The product's patent license was obtained by RI.MOS in 2005, and clinical trials for the treatment of ulcers and bedsores in humans commenced in 2006. Even the most hopeful predictions were surpassed by the initial results of the Clinica Barbantini of Lucca, Tuscany, one of the most significant National reference centers, conducted by the Department of Vulnology. Holoil (a brand for the Italian market) and Hyperoil (a brand for international markets) received CE approval as Class IIb Medical Devices in 2008. In 2009, RI.MOS launched the Hypermix for Veterinary Use and Holoil for Human Use brands to promote the product in the Italian market (in 2011).

Product Portfolio

Fast Healing Advanced Wound Dressing: Infection prevention, re-epithelialization support, fibrinolytic action, and other benefits are provided by hyperoil. At all stages of tissue repair, it only needs the assistance of secondary dressings to protect and/or absorb, as necessary, while carrying out all other essential tasks on its own.

The global diabetic neurotherapy foot ulcers market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.