Ulcerated Ncerobiosis Lipoidica Management Market to reach US$ 7.9 billion by 2033, expected to grow at a CAGR of over 6%: FMI Study
The global Ulcerated Necrobiosis Lipoidica Management Market is anticipated to attain an impressive valuation of US$ 4.4 billion in 2023 and is projected to reach US$ 7.9 billion by 2033, trailing a CAGR of 6.03 % during the forecast period. Increasing advanced diagnostic technique for diagnosis of necrobiosis lipoidica like magnetic resonance imaging is expected to fuel the growth of necrotizing skin infection treatment market during the forecast period. Also, approval and launch of new medicines by leading companies is the other significant factor fuelling to the growth of the global ulcerated necrobiosis lipoidica management market
The adoption of PUVA therapy and Photodynamic therapy are two most common treatment options for treatment of Ulcerated Necrobiosis Lipoidica which is expected to propel market growth during the forecast period. In the coming years, the market is anticipated to be driven by key developments in drug development and growing number of drugs in clinical trials, as well as more inclination towards biological and technological advances.
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On the other hand, increasing economic burden of Ulcerated necrobiosis including direct and indirect cost of treatment, along with prolonged treatment duration and dearth of clinically proven drugs has presented significant unmet needs in the global Ulcerated necrobiosis lipoidica treatment market growth. This is providing vast opportunities for key players in this market by developing new drugs against necrobiosis lipoidica, with the aim to fight the resistant bacteria thus lowering the cost of treatment.
Likewise, product approvals by regulatory authorities are also anticipated to drive growth of the Ulcerated Necrobiosis Lipoidica Management market during the forecast period. For example, on June 19, 2017, Melinta Therapeutics which is a pharmaceutical company, declared that its product Baxdela (delafloxacin), was approved from the United States Food and Drug Administrator, which is used in the treatment of severe bacterial skin structure infections caused by vulnerable bacteria. This product is a ‘fluoroquinolone’ that shows activity against both gram-positive and gram-negative bacteria, and against methicillin-resistant Staphylococcus aureus. These developments will further propel market growth.
- North America is expected to dominate the industry while reaching market share of around 41% by end of the forecast period.
- The market in Asia Pacific is projected to account for 32.8% market share by end of the projected period.
- By treatment type, ‘UVA1 Phototherapy’ is projected to account for 31% market share by end of the forecast period.
- Hospitals are expected to dominate the market by distribution channel, with a market share of 71% by 2033.
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Development of new clinically proven and effective drugs coupled with increasing healthcare expenditure is going to drive the treat market of Ulcerated necrobiosis lipoidica in the forecast period- Comments an FMI Analyst
The Ulcerated Necrobiosis Lipoidica Management Market is intensely competitive and consists of numerous key market players. These key players are developing novel delivery systems for treating ulcerated necrobiosis lipoidica. This is estimated to fuel Ulcerated Necrobiosis Lipoidica Management Market. The key players in this market are: Astellas Pharma, Vibcare Pharma, Pfizer, Manus Aktteva Biopharma LLP, Mylan Pharmaceuticals Inc., Upsher-Smith Laboratories, Novartis, Sanofi, Merck, GlaxoSmithKline.
Key industry players are inclined on adoption of inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to strengthen their product portfolio. This is anticipated to fuel the global Ulcerated Necrobiosis Lipoidica Management Market.
- In June 2022, Basilea Pharmaceutica Ltd declared positive topline results for the Phase III ERADICATE study, evaluating ceftobiprole in treating adult patients with bacterial bloodstream infections caused by Staphylococcus aureus.
- In January 2022, Paladin Labs Inc., which is a subsidiary of Endo International PLC announced the launch of ‘Xydalba’ (dalbavancin for injection), a 30-minute intravenous therapy for chronic bacterial skin structure infections that can be administered as a single- or two-dose.
- On July 7, 2021, Melinta Therapeutics, a pharmaceutical company, announced about launch of its product ‘KIMYRSA’. This drug is a lipoglycopeptide antibiotic that offers a complete course of treatment for chronic bacterial skin and skin structure infections including ulcerated necrobiosis lipoidica. This drug is effective in a single dose of 1200mg injection.
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Future Market Insights offers an unbiased analysis of the global Ulcerated Necrobiosis Lipoidica Management Market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Ulcerated Necrobiosis Lipoidica Management Market the market is segmented on the basis of treatment ( Skin Grafting , Photodynamic Therapy , UVA1 Phototherapy, Topical Psoralen-UVA Therapy, Drugs-Antimalarial Agents, Antitubercular Agents, Immunosuppressive Agents, Hemorrheologic Agents, Fumaric Acid Esters, Calcineurin Inhibitors, Corticosteroids)(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Key Segments Profiled in the Ulcerated Necrobiosis Lipoidica Management Industry Survey
- Skin Grafting
- Photodynamic Therapy
- UVA1 Phototherapy
- Topical Psoralen-UVA Therapy
- Antimalarial Agents
- Antitubercular Agents
- Immunosuppressive Agents
- Hemorrheologic Agents
- Fumaric Acid Esters
- Calcineurin Inhibitors
By End User:
- Specialty Clinics
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- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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