Hospitals Segment to Dominate APAC Diabetic Foot Ulcer Treatment Market During 2021–2028
According to The Insight Partners market research study on “APAC Diabetic Foot Ulcer Treatment Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Ulcer Type, and End User” is expected to reach US$ 1,723.22 million by 2028 from US$ 976.51 million in 2021. The market is estimated to grow at a CAGR of 8.5% from 2021 to 2028. The report provides trends prevailing in the APAC diabetic foot ulcer treatment market along with the drivers and restraints pertaining to the market growth. Rising research activities to introduce novel wound treatment products and burgeoning use of 3D printing in wound care management are the major factor driving the growth of the APAC diabetic foot ulcer treatment market. However, high cost of advanced wound care treatments hinders the growth of APAC diabetic foot ulcer treatment market.
In case of COVID-19, APAC is highly affected specially India. People are packing India's public hospitals, as many are unable to afford private ones that generally uphold higher standards of care. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. All these factors will impact the Diabetic Foot Ulcer Treatment market for a short period of time. The focus on the wound care treatments is less as government and population in the region are more focused on the treatment of COVID 19. The dermatology clinics, hospitals, and surgical centers are open for only emergency services. China is specifically facing issues that this epidemic has caused, leading to disruption of the supply chain, projected decreases in revenue and sales within all industries. As the visits to healthcare settings has declined in response to the pandemic to the regions like South Korea and Japan which has negative impact on the wound care industry. In India, shutdown of the entire transportation within the country, and many provinces are establishing border restrictions within the country. This has led to paralyzed supply chains for any industry in India. However, essential medical product supply is not restricted but the production has been affected due to restriction on number of staff working in the companies. As the vaccination progress, the demand for wound care products is expected to increase which will support the diabetic foot ulcer treatment market.
The APAC diabetic foot ulcer treatment market is segmented based on the type, ulcer type, end user, and country. Based on type, the market has been segmented into the advanced wound care dressings, biologics, and therapy device. The advanced wound care dressings segment dominated the APAC diabetic foot ulcer treatment market in 2020 and biologics segment is expected to be fastest growing during forecast. Further, advanced wound care dressings is segmented into hydrogel dressings, collagen dressing, alginate dressings, foam dressings, hydrocolloid dressings, and others. Further, biologics is segmented into the skin grafts and growth factors. Similarly, therapy device is segmented into negative pressure wound therapy and ultrasound therapy. Based on ulcer type, the market has been segmented into neuropathic ulcers, ischemic ulcers, and neuro-ischemic ulcers. The neuro-ischemic ulcers segment dominated the APAC diabetic foot ulcer treatment market in 2020 and same segment is expected to be fastest growing during forecast. Moreover, based on end user, the market has been segmented into the hospitals, ambulatory surgery centers, and home care. The hospital segment dominated the APAC diabetic foot ulcer treatment market in 2020 and same segment is expected to be fastest growing during forecast. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
3M; B. Braun Melsungen AG; Cardinal Health Inc; Coloplast Group; ConvaTec Group Plc; Medline Industries, Inc.; MiMedx; Mölnlycke Health Care AB.; Organogenesis Inc.; Smith & Nephew; and URGO are among the leading companies in the APAC diabetic foot ulcer treatment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Smith & Nephew has Acquired Osiris Therapeutics, Inc. Osiris is a fast-growing company delivering regenerative medicine products including skin grafts and advanced wound care solutions. The acquisition is expected to accelerate growth of Smith & Nephew’s advanced wound management business.
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