Global Vascular Ulcer Treatment Market: Overview
Vascular ulcer is also known as stasis ulcer, venous insufficiency, stasis dermatitis, varicose ulcer, or ulcus cruris. Vascular ulcer is caused due to abnormal vein functions. Ulcers are commonly diagnosed in people of ages 65 or more. The ulcers of lower extremities are a typical reason for a visit to the primary care doctor, wound care expert, vascular treatment specialist, or dermatologist. A majority of vascular ulcers occurring in individuals are recurrent or chronic in nature. These are responsible for a considerable amount of sickness, particularly among patients with peripheral vascular disease that includes work incapacity and intense pain. Generally, vascular ulcers are treated moderately with non-operative treatment techniques. In cases where vascular ulcers are treated surgically, STSG (Split-Thickness Skin Grafts) are applied to the affected areas as per the standard techniques. The prevalence rate of vascular ulcers increases with the rise in the rate of obesity, owing to the number of morbidities associated with obese patients.
Global Vascular Ulcer Treatment Market: Drivers and Restraints
Rising prevalence of peripheral vascular treatment disease and hypertension are the primary factors propelling the vascular ulcers treatment market. Rise in chronic diseases such as diabetes and vascular disease, owing to the change in lifestyle of people, coupled with the increasing rate of obesity, globally, is anticipated to drive the vascular ulcers treatment market. Additionally, the rising geriatric population which has previously undergone leg surgery including knee and hip replacement are more likely to propel the vascular ulcer treatment market. However, the high cost of products associated with treatment of vascular ulcers is anticipated to restrain the market to some extent.
Global Vascular Ulcer Treatment Market: Key Segments
The vascular ulcer treatment market can be segmented based on disease, treatment, end-user, and region. Based on disease, the vascular ulcer treatment can be classified into arterial ulcers, neurotropic ulcers, venous ulcers, diabetic ulcers, and others. Based on treatment, the vascular ulcer treatment market can be segregated into compression, drugs, dressings, surgical therapy, skin grafting, and others. Furthermore, the drugs segment can be sub-segmented into antibiotics, pentoxifylline, topical steroids, aspirin, and others. Based on end-user, the vascular ulcer treatment market can be segmented into hospitals, clinics, diagnostics centers, and others.
In terms of region, the global vascular ulcer treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016. Increasing prevalence of peripheral arterial disease, aging population, and the presence of key market players in the region are some factors that are likely to drive the market in North America. According to the Centers for Disease Control and Prevention (CDC), approximately 8.5 million people in the U.S. suffer from peripheral arterial disease, including 12% to 20% of individuals that are older than the age of 60. Europe is expected to account for second-largest share of the global vascular ulcer treatment market and is expected to expand during the forecast period due to technological advancements and the increasing trend to combine different treatment modalities for more efficient ulcer treatment. The vascular ulcer treatment market in Asia Pacific is expected to expand at a high growth rate between 2017 and 2025, owing to the development of health care infrastructure, high disposable income, aging population, and increasing prevalence of diabetes. According to the Asian Diabetes Prevention Initiative, 60% of diabetics in the world live in Asia. By 2030, without intervention, both China and India combined are likely to have almost half a billion diabetics.
Global High Voltage Circuit Breaker Market: Key Players
Key players operating in the global vascular ulcer treatment market include B. Braun Melsungen AG, AngioDynamics, SIGVARIS, L&R Medical UK Ltd, 3M, medi GmbH & Co. KG, and Medtronic.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.