The global Necrobiosis Lipoidica Diabeticorum (NLD) market is expected to garner a market value of US$ 4.5 Billion in 2023 and is expected to accumulate a market value of US$ 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.
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Growth of the Necrobiosis Lipoidica Diabeticorum (NLD) market can be attributed to the rising burden of diabetes. According to the International Diabetes Federation, Diabetes is becoming more prevalent globally, accounting for 6.7 million deaths by 2021. Diabetes is becoming more common in places such as the Middle East and Asia Pacific, which is driving the prevalence of NLD. Thus, the presence of untapped growth potential in quickly emerging MEA and Asian economies, as well as rising diabetes awareness in these regions, are expected to bolster the growth.
Key Takeaways from the Market Study
- 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 during 2023 to 2033.
- As of 2033, the Necrobiosis Lipoidica Diabeticorum (NLD) market is expected to reach US$ 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.
“Various factors such as awareness in wellness and health, the diagnostics, and pathology segment are improving in the 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.” says an FMI analyst
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Market Competition
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..
- In June 2022, Basilea Pharmaceutica Ltd announced today positive topline results for the Phase III ERADICATE study, evaluating ceftobiprole in the treatment of adult patients with bacterial bloodstream infections caused by Staphylococcus aureus (SAB).
- In January 2022, Paladin Labs Inc., a subsidiary of Endo International PLC launched the Xydalba (dalbavancin for injection), a 30-minute intravenous (IV) therapy for acute bacterial skin and skin structure infections (ABSSSI) that can be administered as a single- or two-dose.
Key Segments Profiled in the Necrobiosis Lipoidica Diabeticorum (NLD) Industry Survey:
Procedure:
- Treatment
- Corticosteroid Creams
- Injected Corticosteroids
- Drugs that Suppress the Immune System
- Anti-inflammatory Drugs
- Medicines that Improve Blood Flow
- Hyperbaric Oxygen Therapy
- Phototherapy
- Laser Therapy
- Test Type
- Punch Biopsy
- Glucose Tolerance Test
Application:
- Hospitals
- Ambulatory Clinics
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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