The global contact cast system market is expected to exhibit a steady growth owing to rise in diabetic cases across the globe.
Need to protect wound and regenerate tissue for patients with diabetic foot ulcer will bring steady growth for the global contact cast system
The global contact cast system market is expected to exhibit a steady growth owing to rise in diabetic cases across the globe. As per a study by Fact.MR, the contact cast system market is estimated to surpass a valuation of more than US$ 2,513 Mn through 2031 at a CAGR of 6.1%.
The demand for contact cast systems is rising as they are heavily used to cast-off wound associated with diabetic foot ulcer. They aid in encasing patient’s entire foot inclusive of lower leg and toes along with off-loading the sole.
Patients often prefer contact cast system as it allows the redistribution of weight on foot and lower leg for everyday movement assistance. The market will witness surge in demand as it helps in healing and tissue regeneration by evenly distributing the pressure from the foot to leg.
According to the World Health Organization (WHO), approximately 42 million people worldwide suffer from diabetes, with a majority of them being from low-and middle-income countries. Each year around 1.6 million deaths are directly related to diabetes.
According to U.S. National Library of Medicine National Institute of Health, around 15 to 25% of diabetic patients suffer from foot ulcers throughout their life. The overall presence of this complication is from 1.3 to 4.8%. These factors will boost the demand for contact cast system worldwide.
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“Rising prevalence of diabetes in older generation will bring lucrative opportunities for the contact cast system market. With this competition is expected to soar. Market players are likely to respond to this by adopting strategies that will help them expand their expertise. As a result, mergers and acquisitions will be registered as companies aim for competitive advantage,” says the Fact.MR analyst.
Key Takeaways
- Non-removable contact caste system increases the rate of healing by 80% as it maximizes the application time and minimizes the role of patient compliance.
- North America is expected to lead the global market backed by funding by federal and state government towards expansion of healthcare facilities and conductive reimbursement schemes.
- The Europe market is driven by the presence of developed healthcare infrastructure that promotes routine health check-ups and patient awareness.
- Latin America and MEA market might face low growth rate owing to non-availability of device and poor healthcare infrastructure.
Key Drivers
- Contact cast system demand is expected to rise as it is recognized as the golden standard of off-loading non-infected neuropathic diabetic foot ulcers.
- A contact cast system ensures wound closure rate of 88.9% compared to standard systems and devices such as healing sandals and walking boots. It also offers healing rate of 80% compared to removable cast walkers that delivers only 65% healing. These factors will remain chief drivers of the market
- It provides easier adaptation due to combined layers of stiffness and application, thus aiding the efficacy of the treatment.
Key Restrains
- The market is expected to witness restrains due to negative perception of the contact caste systems treatment.
- Patients are sometimes skeptical about investing time and trust in the application and removal of the equipment.
- Non-availability in the developing region due to poor health infrastructure will hinder the market growth in numerous countries.
- Recommendation of contact cast system is restricted to numerous patients due to persistent infection or for patients with severe peripheral arterial disease.
Competitive Landscape
The key players operating in the global contact caste system market are Essity, Integra LifeSciences Corp., WoundKair Concepts, Inc., and Derma Science, Inc. The key players in the industry are investing in different strategies such as merger and acquisitions. For instance,
- Derma Sciences, Inc., a pharmaceutical and medical device company, has acquired MedEfficiency, Inc. under the terms of acquisition and paid US$14.5 million. MedEfficiency, Inc. manufactures TCC-EZ™ Total Contact Cast system.
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More Insight on the Contact Cast System Market
Fact.MR offers unbiased analysis of the contact cast system market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (non-removable and removable), distribution channel (hospitals, pharmacies, medical centers, podiatry clinics, online retail, online pharmacies ambulatory surgery centers, and others), and regions (North America, Latin America, Europe, South Asia, East Asia, Oceaic, and Middle East & Africa).
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Source: Fact.MR