Gangrene Treatment Drugs Market Highlights 2020 – 2029
The gangrene treatment drugs market is estimated to garner a sizeable revenue by growing at a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to factors such as the increasing prevalence of diabetes and its related complications, growing demand for sophisticated therapies and rising number of incidences of severe traumatic injuries. According to the World Health Organization (WHO), diabetes is a major cause of blindness, stroke and lower limb amputation. In 2019, 1.5 million deaths were caused by diabetes. In 2019 Also, hike in healthcare expenditure in developed countries is anticipated to act as a growth driver for the market in the future. Along with these, growth in the total obese population worldwide is projected to offer ample opportunities to market growth in the coming years.
The market is segmented by condition type into dry, wet, internal, gas gangrene, and others out of which, the gas gangrene segment is anticipated to drive notable growth in the gangrene treatment drugs market on account of rise in occurrence of arterial diseases, colon cancer and muscle injuries. Apart from this, it is a very common type of gangrene, which can also be credited to boost the demand for treatment drugs in the near future. Furthermore, on the basis of treatment type, the hyperbaric oxygen therapy is expected to gather the largest market share during the forecast period owing to the increasing incidences of diabetic foot ulcers, speedy healing process of the treatment and its effectiveness in killing bacteria.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Gangrene Treatment Drugs Market Regional Synopsis
On the basis of geographical analysis, the gangrene treatment drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America region is estimated to grab the largest share over the forecast period on the back of strong presence of leading industry players, increasing healthcare budget and growing technological advancements in the healthcare sector. As per the data provided by the OECD, in 2017, the health spending in the United States was the highest, at 17.1% of country’s total GDP share. Additionally, Europe is evaluated to be the second largest shareholder in the market in the coming years ascribing to the growing investments in R&D activities in the region. However, the market in Asia Pacific is expected to grow with the highest CAGR during the forecast period, which can be credited to the growing number of cases of gangrene affecting mouth, nose and lips, and the increasing geriatric population in the region.
The gangrene treatment drugs market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
Market Segmentation
Our in-depth analysis of the gangrene treatment drugs market includes the following segments:
By Condition Type
- Dry Gangrene
- Wet Gangrene
- Internal Gangrene
- Others
By Treatment Type
- Larval Debridement Therapy
- Hyperbaric Oxygen Therapy
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Growth Drivers
- Growing Prevalence of Diabetes and Related Complications
- Increasing Demand for Sophisticated Therapies for Gangrene
Challenges
- High Cost of Treatment and Management of the Condition
Top Featured Companies Dominating the Market
- Pfizer Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Antidote Therapeutics, Inc.
- Ixaka Ltd
- Pluristem Therapeutics Inc.
- LimFlow SA
- Viatris Inc.
- Hikma Pharmaceuticals PLC
- Allergan plc
- AKORN, INC.
- Atox Bio
