The global vascular ulcer treatment demand is expected to rise at a CAGR of 4.7%. The market revenue is likely to be valued at USD 2,737.4 million in 2023 and exhibit a revenue growth of USD 4,344 million by 2033. Rising cases of obesity, coupled with changing lifestyles of people, are increasing the rates of chronic illnesses, such as diabetes and vascular disease. These factors are anticipated to accelerate the vascular ulcer treatment sector.
However, lack of awareness of the benefits of the treatment and lack of skilled healthcare professionals serve as critical challenges for the market.
On the other hand, demand for compression hosiery products is expected to spur due to the high rates of recurrence after healing. This poses revenue opportunities for the vascular ulcer treatment market share.
Multi-component and two-layer compression therapy systems replacing traditional treatment options have provided clinicians the ease of bandage applications and products that deliver effective therapeutic compression. This is expected to significantly accelerate the market growth.
The preference for home care settings for the geriatric population to treat ulcers is likely to expand the market size. In addition to this, initiatives to improve the knowledge and competence about ulcer treatments for nursing staff by reliable social care service organizations are beneficial.
Trained staff offering personalized wound care products, along with the increasing number of specialty clinics with advanced facilities, is likely to expand the market at considerable growth. The rise in the hospitalization rate and increasing healthcare infrastructure is anticipated to surge the demand for vascular ulcer treatment.
Inflammation and pain in patients are attempted to be reduced by electrical stimulation and electroceuticals, which improves clinical numbers. This is further expected to accelerate the market trends.
What are the Drawbacks of Vascular Ulcer Treatment?
The vascular ulcer treatment market share is likely to obstruct due to the high costs of the products associated with the treatments. Moreover, the risk of developing new ulcers in different areas of the body is the result of prolonged surgical care, which is expected to hamper the vascular ulcer treatment industry’s size.
Lack of awareness about treatment options, as well as limited availability of healthcare professionals in underdeveloped nations, is anticipated to hinder the market growth. Furthermore, visa cancellations during the pandemic, causing a hiatus for the medical tourism sector, negatively impacted the market share.
| Attributes | Details |
|---|---|
| Vascular Ulcer Treatment Market CAGR (2023 to 2033) | 4.7% |
| Vascular Ulcer Treatment Market Size (2023) | USD 2,737.4 million |
| Vascular Ulcer Treatment Market Size (2033) | USD 4,344 million |
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The global demand for vascular ulcer treatment reached from USD 2,341.91 million in 2018 to USD 2,638.5 million in 2022, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 3%.
The increasing prevalence of hypertension and peripheral vascular treatment disease are expected to surge the demand for vascular ulcer treatment. Moreover, rising awareness about innovative dressings and bio-skin treatments to provide relief to patients is likely to expand the market size.
The rising geriatric population, and the knees and hip replacement surgery implemented following previous leg surgeries, are expected to boost the market growth. Furthermore, mergers and acquisitions among market players contribute to the vascular ulcer treatment industry.
Combining different modalities for a more efficient ulcer treatment, increasing in popularity presents a key driver for the market. Likewise, the availability of different skin substitutes and technologically advanced wound care products further surges the demand.
A growing number of product launches and approvals through government initiatives are expected to increase the vascular ulcer treatment business. Research and development (R&D) activities to initiate new strategies and innovations positively impact the market.
New Launches:
Introduction of stockings for the testament of vascular leg ulcers and advanced compression is likely to expand the compression therapy segment. Adoption of these products and services is expected to present lucrative opportunities for the vascular ulcer treatment market.
Health Programs:
The therapeutic effects of compression hosiery products following vascular ulcer treatment are encouraging grace professionals to introduce health programs. This, along with dressings experiencing a dramatic surge in bulk orders, are likely to boost the market growth.
Clinical Evidence:
High availability of published clinical evidence concerning negative pressure wound therapy products is estimated to increase the market share. The growth of the vascular ulcer treatment sector is attributed to the increasing number of clinical trials.
Principal Consultant
| Countries | Market Share (2023) |
|---|---|
| United States | 29.2% |
| Germany | 5.9% |
| Japan | 5.5% |
North America holds the dominant vascular ulcer treatment industry share, with a revenue of 37.1%. This is owing to the public initiatives related to diabetes and its rising cases.
Launching innovative products by key market participants significantly contributes to global market growth. Research and development activities on technologically advanced products to improve the treatment of these diseases are expected to positively impact the market.
With a revenue of 27.9%, Europe is the second leading vascular ulcer treatment industry. This is owing to the rapidly growing geriatric population and high medical insurer reimbursement rates in this region.
Technological developments and the growing trend to combine different modalities for more systematic ulcer treatments. Moreover, the increase in demand for active wound care products is attributed to the rising prevalence of chronic and acute wounds, especially in the United Kingdom. Due to this, the United Kingdom is expected to have a CAGR of 3.6% by 2033.
| Countries | CAGR (2023 to 2033) |
|---|---|
| India | 5.6% |
| China | 4.7% |
The Asia-Pacific is expected to witness significant market growth owing to approvals and product launches. Government initiatives further expand the market size. The geriatric population increasing in number, along with the rise in healthcare infrastructure in various countries of this region, is likely to expand the market size.
In addition to this, the increasing prevalence of diabetes, as well as a significant growth in the disposable income of the middle-class population, further boosts the global demand for the treatment.
The expansion of the vascular ulcer treatment market size is owing to the substantial growth during the forecast period, with the prevalence of chronic skin ulcers and diabetes. Hence, start-up companies have taken a keen interest in developing alternative solutions for ulcer treatments through new innovations and strategies.
These are a few of the many start-up companies coming up with various strategies for ulcer treatments, such as peripheral thrombectomy space with a novel flow restoration technology, wearable compression devices, etc.
On the other hand, key market players strive to remain at the top with innovative plans through collaborations, and extensive research and development activities. Rising cases of chronic ulcers provide lucrative options for market players to devise strategies for the improvement and adoption of vascular ulcer treatments.
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A leading provider of minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease, and oncology. The global company has over 1200 employees and currently reaches more than 50 markets via direct sales and distributors.
They offer high quality and innovative offerings in medical compression therapy. Their portfolio caters to a wide range of different needs and indications. They are a reliable partner for their customers around the world, that includes pharmacies, DMEs, orthopedic and medical specialist stores, as well as medical professionals and hospitals.
They are significantly growing in biomedical engineering, where they display maximum strength and ability. They provide ground-breaking healthcare technology solutions for the most complex and challenging conditions.
They have a dedication to produce products that provide genuine solutions to real world problems, or products that simply speed up processes to make tasks and surgeries easier. From personal protective equipment to adhesives and insulation-displacement connectors.
Recent Developments:
The market is expected to rise at a CAGR of 4.7% from 2023 to 2033.
Telemedicine for remote patient monitoring is the key trend in the market.
Advanced wound care products segment is the current market leader.
Growing elderly population and incidence of vascular and diabetic illnesses driving the market.
North America, Europe, and Asia Pacific are prominent regions in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Arterial Ulcers 5.2. Neurotrophic Ulcers 5.3. Venous Ulcers 5.4. Diabetic Ulcers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Treatment 6.1. Compression 6.2. Gradual Compression 6.3. Intermittent Pneumatic Compression 6.4. Drugs 6.5. Antibiotics 6.6. Pentoxifylline 6.7. Topical Steroids 6.8. Aspirin 6.9. Dressings 6.10. Surgical Therapy 6.11. Skin Grafting 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacies 7.2. Retail Pharmacies 7.3. Online Pharmacies & E-Commerce 7.4. Drugstores 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Angiodynamics 18.2. Sigvaris Global 18.3. Medi GmbH & Co. KG 18.4. Activa Healthcare 18.5. 3M 18.6. Medtronic 18.7. B. Braun Melsungen AG 18.8. Bristol Myers Squibb Co 18.9. Sanofi 18.10. Bayer AG 18.11. Pfizer Inc 18.12. Novo Nordisk A/S 18.13. Cadila Pharmaceuticals Ltd. 18.14. Cardinal Health 18.15. Paul Hartmann AG 18.16. Coloplast Corporation 18.17. KCI Licensing Inc. 18.18. Smith & Nephew plc 18.19. Integra LifeSciences Corporation 18.20. Mölnlycke Health Care AB 19. Assumptions & Acronyms Used 20. Research Methodology
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Vascular Ulcer Treatment Market
