The global Necrobiosis Lipoidica Diabeticorum (NLD) market is expected to garner a market value of USD 4.5 Billion in 2023 and is expected to accumulate a market value of USD 8.06 Billion by registering a CAGR of 6% in the forecast period 2023 to 2033.
The market for Necrobiosis Lipoidica Diabeticorum (NLD) registered a CAGR of 4% in the historical period 2017 to 2022.
An increase in the incidence of diabetes, as well as shifts in urbanization and sedentary lifestyle, are important factors driving the Necrobiosis Lipoidica Diabeticorum (NLD) market growth. Furthermore, technological improvements in the field of diabetes, as well as an increase in the diabetic population are propelling the growth.
According to the International Diabetes Federation, Diabetes is becoming more prevalent globally, accounting for 6.7 million deaths by 2021. As a result, Clinical examinations and procedures are carried out to diagnose the condition, which aids medical professionals in making additional decisions about medicine, testing, and recuperation and is expected to accelerate market expansion throughout the projection period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 4.5 Billion |
| Anticipated Forecast Value (2033) | USD 8.06 Billion |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
According to market research and competitive intelligence provider Future Market Insights- the market for Necrobiosis Lipoidica Diabeticorum (NLD) reflected a value of 4% during the historical period, 2017 to 2022.
Various factors such as awareness in wellness and health, the diagnostics, and pathology segment are improving in developing countries nowadays which grows the therapeutics market. The research and development activities in the field like emerging novel therapeutics, increasing the efficacy of medicine as well as treatment.
Selling campaigns initiated by global players are growing the market progressively. Increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of Necrobiosis Lipoidica Diabeticorum (NLD) is fuelling market growth. Thus, the market for Necrobiosis Lipoidica Diabeticorum (NLD) is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
Strong Relation Between Diabetes & Necrobiosis Lipoidica Diabeticorum (NLD) to push the market growth
The increasing prevalence of Necrobiosis Lipoidica Diabeticorum (NLD) disease is one of the biggest drivers of the market. The massive growth in the diabetic population is primarily attributable to rising NLD rates around the world, as well as sedentary lifestyles defined by poor diets and decreased physical exercise.
According to a study conducted by National Center for Biotechnology Information, Necrobiosis lipoidica diabeticorum (NLD) is a rare chronic and granulomatous skin disorder that affects 0.3% of diabetic patients. The legs are the most common site for NLD, but the involvement of other areas such as the abdomen, upper extremities, and scalp has been reported. There is no rational therapy.
Furthermore, a strong relationship between diabetes and NLD, and many studies have focused on diabetic microangiopathy as the leading etiologic theory. Diabetic alterations of the kidney and eye vasculature are similar to the vascular changes seen in NLD. A deposition of glycoprotein in blood vessel walls may be the cause of diabetic microangiopathy.
A similar glycoprotein deposition is seen in NLD. Doppler flow study showed lowered O2 tensions within the lesions.
Considering these in-depth studies, the market is projected to show considerable growth through 2033.
Expensive Cost of Treatment to restrict Market Growth
The expensive treatment of Necrobiosis Lipoidica Diabeticorum (NLD), less awareness of Necrobiosis Lipoidica Diabeticorum (NLD) disease, and insubstantial treatment options are hampering the market growth.
Improvement in healthcare spending propelling the growth of Necrobiosis Lipoidica Diabeticorum (NLD) in Asia Pacific
The Asia Pacific is expected to exhibit a significant growth rate of all regions over the forecast period, with a CAGR of 5% during the forecast period. The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of Necrobiosis Lipoidica Diabeticorum (NLD) in the region. Asia Pacific is an emerging market due to the increase in point care approach to health & care. An increasing number of hospitals in India and China makes a promising market for the treatment market worldwide.
High prevalence of Skin Infections shaping the landscape for Necrobiosis Lipoidica Diabeticorum (NLD) in North America
North America is anticipated to acquire a market share of about 34% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region.
As per the ClinicalTrials.gov posted on January 2020, the study titled "Development of a New Critical Pathway for Treatment of Acute Bacterial Skin and Skin Structure Infections (ABSSSI)" under the clinical development for the drug Dalbavancin from the allergen pharmaceutical in the United States.
Apart from this, An estimated 34.2 million people have diabetes (10.5 percent of the USA population). Therefore, the risk of Necrobiosis Lipoidica Diabeticorum (NLD) rises in the region.
Hospitals to take the lead and drive market growth
The application segment has been divided into hospitals, retail pharmacies, and Ambulatory Surgical Centres. According to the FMI analysis, Hospitals account for the largest market share. The requirement for several hospital stays and visits during NLD treatment facilitates the growth of this segment.
Key start-up players in the Necrobiosis Lipoidica Diabeticorum (NLD) market are-
Key players in the Necrobiosis Lipoidica Diabeticorum (NLD) market are ALexicare Pharma, Andréas Astier, Mayo Clinic, AbbVie Inc, Merck & Co., Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services Inc., Pfizer, Novartis AG, and GlaxoSmithKline Plc.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 4.5 Billion |
| Market Value in 2033 | USD 8.06 Billion |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Procedure, Application, Region |
| Regions Covered |
North America; Latin America; Europe; Asia Pacific; Middle East & Africa (MEA) |
| Key Countries Profiled | The US, Canada, Brazil, Argentina, Germany, The UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, Association of Southeast Asian Nations, GCC, South Africa |
| Key Companies Profiled | Lexicare Pharma; Andréas Astier; Mayo Clinic; AbbVie Inc; Merck & Co., Inc.; Bristol-Myers Squibb Company; Johnson & Johnson Services Inc.; Pfizer, Novartis AG; GlaxoSmithKline Plc. |
| Customization | Available Upon Request |
From 2017 to 2022, the Necrobiosis Lipoidica Diabeticorum (NLD) market grew at a CAGR of 4%.
The global Necrobiosis Lipoidica Diabeticorum (NLD) market is expected to grow with a 6% CAGR from 2023 to 2033.
As of 2033, the Necrobiosis Lipoidica Diabeticorum (NLD) market is expected to reach USD 8.06 Billion
According to the FMI analysis, hospitals account for the largest market share.
North America is expected to possess 34% market share for the Necrobiosis Lipoidica Diabeticorum (NLD) market.
The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
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Necrobiosis Lipoidica Diabeticorum Market
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