First off, if that diode burst, there might be something else that failed on the board. This diode could serve several function. It could be a Zener diode for the voltage regulation, a TVS diode for ESD protection, a power diode to prevent reverse polarity. It's hard to know with that picture.
From the look of it and the white dot, it tells me thatI don't think it is not a transient protection diode. It looks more like a power diode. It's function could be to not power the USB that protect reverse polarity. If so, I would think that any number of Schottky diode that fit the packages could do the trick. If it works without the diode, you might accept to keep operating without it, but if the failure condition occurs (and the device was saved by this diode) again, the device might get broken beyond repair.