According to a report from Grand View Research, the global diabetic foot ulcer treatment market size is expected to reach a value of USD 6.82 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.2% during the forecast period. “Rising prevalence of diabetes, increasing healthcare expenses, and rapidly growing geriatric population worldwide are some of the major factors driving the diabetic ulcer treatment market. The occurrence and complications of diabetes are increasing worldwide. Global prevalence of diabetes is high and still on the rise. In 2017 $850 billion dollars was the estimated worldwide expenditure of diabetes, it has continued to grow since then. An article on Diabetic Foot: Facts and Figures added: “In the United States, a total of $176 billion is spent annually on direct costs for diabetes; As much as one third of that will be spent on lower extremity complications, such as diabetic foot ulcers. Diabetic foot ulcerations are one of the most common complications associated w/ diabetes with a global annual incidence of 6.3%. The lifetime incidence of foot ulcers in diabetic patients is 34%. More than 50% of diabetic ulcers become infected and 20% of those w/ moderate-severe infection result in amputation. Diabetes contributes to approximately 80% of the 120,000 non-traumatic amputations performed yearly in the United States. More than half of those with heel osteomyelitis (a bone infection) will undergo high level amputation.” Active biotech companies with recent developments include: Hoth Therapeutics, Inc. (NASDAQ: HOTH), Midatech Pharma PLC (NASDAQ: MTP), Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), Acasti Pharma Inc. (NASDAQ: ACST) (TSX-V: ACST), Outlook Therapeutics, Inc. (NASDAQ: OTLK).
