Diabetic Foot Ulcer Market in Rapid Race to Reach More than $1.5 Billion Value
The diabetic foot ulcer (DFU) treatment market will undergo impressive growth over a 5-year period, increasing from $302 million in 2012 to $1.58 billion by the end of 2017, at a substantial Compound Annual Growth Rate (CAGR) of 39.9%, according to a new report from research and consulting firm GlobalData.
The company’s latest report* states that out of the six major markets (6MM) — the US, France, Germany, Italy, Spain and the UK — the US contributed to the majority of the sales in 2012, generating an estimated $238 million. It will continue to hold this status in 2017, when it will represent a massive 85% share of the global market with sales of around $1.34 billion.
GlobalData anticipates a number of driving factors to propel the DFU market value to more than $1.5 billion during the next 4 years. Primarily, it will be given a leg up by the introduction of three novel wound-healing agents: Macrocure’s CureXcell, Derma Sciences’ DSC127 and Olympus Biotech’s trafermin. These treatments are administrated either as a topical ointment or spray, or are injected directly into the wound bed.
The imminent launch of the first two topical antibacterials indicated specifically for the treatment of diabetic foot infections will also lend a hand to the market growth. Innocoll’s Cogenzia and Dipexium Pharmaceuticals’ Locilex will be used either as an adjunct to systemic antibiotic therapy, or else to treat mild infections.
Dr Haylyn Wong, GlobalData’s Analyst covering Cardiovascular and Metabolic Disorders, says: “In addition to the anticipated arrival of these key products in the DFU marketplace, an increased emphasis will also be placed on the cost-effectiveness of advanced DFU treatments in preventing serious complications, such as infection, amputation and death.
“This will prove a particularly important driver behind the market, as the number of patients suffering from DFU is also expected to increase with the rising global prevalence of diabetes.”
According to GlobalData, the substantial growth in the DFU market will still be hindered by various limiting factors during the forecast period. These include what are expected to be high prices for the wound-healing agents currently in development, along with the fact that physician familiarity with widely-used systemic antibiotics may inhibit the uptake of novel topical antibacterials.
However, Dr Wong says: “Although there are still a number of barriers in place, the DFU market is set to enter an exciting phase, kick-started by the launch of several much-anticipated, novel products into the treatment arena.”
*OpportunityAnalyzer: Diabetic Foot Ulcers — Opportunity Analysis and Forecast to 2017
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance