Venous Skin Ulcer Treatment Market
Venous Skin Ulcer Treatment Market (Product: Compression Therapy [Compression Bandages and Compression Hosiery], Advanced Wound Dressings, Negative Pressure Wound Therapy, Skin Grafts & Substitutes, Medications, and Others; Stage: Stage I, Stage II, Stage III, and Stage IV; and End User: Hospitals & Clinics [Inpatient Settings and Outpatient Settings], Long-term Care Facilities, Home Care Settings, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
COVID-19 Crisis Offers Opportunities in Online Sales and Home Care Services
Community services organizations have taken the initiative to provide venous skin ulcer treatment solutions amidst the coronavirus (COVID-19) pandemic. For instance, Tissue Viability Society - one of the oldest community services organizations in the U.K., has taken the initiative to provide venous skin ulcer treatment solutions amidst the coronavirus crisis by providing latest information on leg ulcer care on their official website. The growing awareness about compression therapy products are accelerating revenue-generation processes for companies in the venous skin ulcer treatment market.
Since patients are seeking leg ulcer treatment at home amidst the COVID-19 era, companies in the venous skin ulcer treatment market should strengthen their online sales and home delivery services to meet special requirements of patients. As such, the revenue of home care settings is estimated for exponential growth in the market for venous skin ulcer treatment.
To know the scope of our report Get a Sample on Venous Skin Ulcer Treatment Market
Electroceutical Therapy Holds Potential in Management of Hard-to-Heal VLUs
Leg changes due to venous skin ulcers are increasingly becoming a matter of deep concern for patients that are susceptible to blood clots, injury, and even obesity. Hence, companies in the venous skin ulcer treatment market are increasing awareness about bio skin treatments and innovative dressings to provide relief to patients. On the other hand, innovative tools such as the leg ulcer measurement tool (LUMT) are being adopted by clinicians to assess various parameters of leg ulcers and determine appropriate treatment measures.
Venous leg ulcers (VLUs) in individuals are posing a significant economic burden for the U.K. National Health Service (NHS). Hence, companies in the venous skin ulcer treatment market are increasing awareness about electroceutical therapy for the management of hard-to-heal VLUs. Electrical stimulation and electroceuticals are being highly publicized to reduce inflammation and pain in patients, resulting in improved clinical numbers.
Improving Nursing Staff Knowledge Results in Increased Uptake of Wound Dressings
Community nursing teams in the Midlands, U.K., are increasing their focus on effectively manage VLUs. For instance, stakeholders that are a part of the Midlands Partnership NHS Foundation Trust are increasing the availability of standardized assessments such as by introducing the lower-limb assessment algorithm for the venous skin ulcer treatment. This is evident since the revenue of Europe is projected for exponential growth in the venous skin ulcer treatment market, where the global market is estimated to be valued at US$ 4.3 Bn by 2030.
Get a glimpse of the in-depth analysis through our Report Brochure
Initiatives by reliable social care service organizations are helping to improve nursing staff knowledge and competence for venous skin ulcer treatment. Healthcare systems in the venous skin ulcer treatment market are increasing efforts to provide face-to-face leg ulcer training to nurses in order to increase clinical capacities. Hence, companies in the venous skin ulcer treatment market are capitalizing on this trend due to a drastic surge in bulk orders for dressings.
Compression Hosiery Products Help Prevent Recurrence of Venous Skin Ulcers
The compression therapy is playing a vital role in the prevention of lower-leg ulceration and its recurrence. However, there is lack of clear understanding about the selection of compression hosiery products to reduce the recurrence of venous skin ulcer. Hence, companies in the venous skin ulcer treatment market are encouraging healthcare professionals to introduce health programs that educate patients about therapeutic effects of compression hosiery products.
High rates of recurrence after healing have catalyzed the demand for compression hosiery products in venous skin ulcer treatment market. This is evident since the revenue of compression therapy products is predicted for aggressive growth in the venous skin ulcer treatment market.
High Medical Insurer Reimbursement Rates Fuel Demand for Non-invasive Medical Devices
The venous skin ulcer treatment market is expected to expand at a CAGR of ~5% during the forecast period. This has sparked innovations in startup companies who are taking keen interest in developing alternative solutions for venous skin ulcer treatment. For instance, Galway-based medical technology start-up introduced BioVena™— a first-of-its-kind effective non-thermal medical device that helps in varicose veins and venous skin ulcer treatment by activating the body’s own healing mechanism. This device has fueled the demand for non-invasive treatments in the venous skin ulcer treatment market.
Increasing number of startups are directing their focus on venous skin ulcer treatment, since the medical condition has resulted in high medical insurer reimbursement rates in the U.S. and Europe. As such, the U.S. is anticipated to dominate the market for venous skin ulcer treatment.
Published Clinical Evidences of Negative Pressure Wound Therapy Benefitting Medtech Companies
Strategic collaborations between companies in the venous skin ulcer treatment market are helping to improve patient quality of life. For instance, Kinetic Concepts, Inc., a medtech company dealing in wound healing has joined forces with the 3M Company— a U.S. multinational conglomerate to promote their V.A.C.® negative pressure wound therapy for venous skin ulcer treatment. As such, the revenue of negative pressure wound therapy is predicted to take an aggressive leap in the venous skin ulcer treatment market.
Medtech companies in the market for venous skin ulcer treatment are strengthening their supply chains with hospitals, community services organizations, and for home treatment applications. High availability of published clinical evidence pertaining to negative pressure wound therapy products is estimated to increase the product uptake in the upcoming years.
Expanding operations in future? To get the perfect launch ask for a custom report
Persistent support from community services organizations amidst the COVID-19 outbreak has triggered revenue opportunities in online sales and home care settings. Medtech companies are increasing their R&D activities in developing products that combine the advantages of wound dressings and negative pressure therapy to enhance clinical outcomes.
Moreover, tissue regeneration holds promising potential in dermal substitution processes. However, there is a need for more clinical evidence to validate the efficacy of bioengineered skin products. Hence, companies in the venous skin ulcer treatment market should focus on dermal substitution for diabetic foot ulcers to bolster the demand for bioengineered skin products. Manufacturers should also innovate in compression hosiery products to reduce the recurrence of VLUs.
Venous Skin Ulcer Treatment Market Drivers: Overview
- A venous skin ulcer is a sore on the leg that takes longer to heal, usually due to weak blood circulation in the limb. This is caused by abnormal or damaged veins.
- Treatment for venous skin ulcer includes various therapies such as compression therapy, advanced wound dressings, negative pressure wound therapy, and medications
- Venous skin ulcers are caused by poor blood circulation in the legs, such as from venous insufficiency. Compression therapy is highly popular and is utilized for venous leg ulcer & narrows veins and restores valve competence and reduces ambulatory venous pressure, thus reducing venous reflux (VR).
- It helps decrease inflammatory cytokines, accelerates capillary flow, and lowers capillary fluid leakage, thereby alleviating limb edema. Compression therapy also softens lipodermatosclerosis, improves lymphatic flow and function, and enhances fibrinolysis.
- Advanced wound care and negative pressure wound therapy are also major products used for venous skin ulcer treatment
- Increase in prevalence and incidence of venous leg ulcer and rise in geriatric population are major factors boosting the global venous skin ulcer treatment market
- For instance, according to the United Kingdom National Health Service (NHS), venous leg ulcers are estimated to affect around 1 in 500 people in the U.K.
- Increase in adoption of technologically advanced wound care products and availability of different skin substitutes are also key factors fuelling the global venous skin ulcer treatment market
- Rise in patient awareness and increase in healthcare expenditure are major factors driving the global venous skin ulcer treatment market
Market Segmentation: Venous Skin Ulcer Treatment Market
- Based on product, the global venous skin ulcer treatment market has been segmented into compression therapy, advanced wound dressings, negative pressure wound therapy, skin grafts & substitutes, medications, and others
- The compression therapy segment has been further bifurcated into compression bandages and compression hosiery
- In terms of stage, the global venous skin ulcer treatment market has been divided into stage I, stage II, stage III, and stage IV
- Based on end user, the global venous skin ulcer treatment market has been segmented into hospitals & clinics, long-term care facilities, home care settings, and others
- The hospitals & clinics segment has been further sub-segmented into inpatient settings and outpatient settings
- Each of the venous skin ulcer treatment market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and useful insights
- The venous skin ulcer treatment market report provides current and future revenues (US$ Mn) for each these segments for the period from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and venous skin ulcer treatment market from 2020 to 2030 along with market size estimations.
Regional Overview: Venous Skin Ulcer Treatment Market
- In terms of region, the global venous skin ulcer treatment market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further divided into major countries and sub-regions.
- North America dominated the global venous skin ulcer treatment market in 2019. It is projected to dominate the market during the forecast period.
- The current and future venous skin ulcer treatment market sizes in terms of value (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2018 to 2030, with their CAGRs for the period from 2020 to 2030
- The study also offers a list of recommendations, highlights, and useful insights of the venous skin ulcer treatment market, which would help new companies willing to enter the venous skin ulcer treatment market and existing companies to increase market shares and help in the decision-making process
Major Players: Venous Skin Ulcer Treatment Market
- The venous skin ulcer treatment market report concludes with the company profiles section that includes key information about the major players in the market
- Key players analyzed in venous skin ulcer treatment market report are
- Smith & Nephew plc.
- Integra LifeSciences Corporation
- Mölnlycke Health Care AB
- Cardinal Health
- URGO Medical
- PAUL HARTMANN AG
- Each of these players has been profiled in the global venous skin ulcer treatment market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Venous Skin Ulcer Treatment Market – Scope of the Report
TMR’s report on the global venous skin ulcer treatment market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period from 2020 to 2030. The report provides the overall market revenue of the global venous skin ulcer treatment market for the period of 2018–2030, with 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global venous skin ulcer treatment market for the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involves bulk of research efforts, wherein, analysts carry out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global venous skin ulcer treatment market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approach to study various phenomena in the global venous skin ulcer treatment market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global venous skin ulcer treatment market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global venous skin ulcer treatment market.
The report delves into the competition landscape of the global venous skin ulcer treatment market. Key players operating in the global venous skin ulcer treatment market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global venous skin ulcer treatment market that have been profiled in this report.
Key Questions Answered in Venous Skin Ulcer Treatment Market Report
- What is the sales/revenue generated by each product, stage, and end user segment of the venous skin ulcer treatment market across all regions during the forecast period?
- What are the opportunities in the global venous skin ulcer treatment market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is likely to expand at the fastest CAGR during the forecast period?
- Which venous skin ulcer treatment segments are expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market share or position of different companies operating in the global market in 2019?
Venous Skin Ulcer Treatment Market – Research Objectives and Research Approach
The comprehensive report on the global venous skin ulcer treatment market begins with an overview of the said market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study, key industrial developments in terms of merger, acquisition, strategic partnerships, key investments, and key bioremediation projects have been provided.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into small sections. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global venous skin ulcer treatment market in terms of product, stage, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of them at the end of 2030 has been provided herein. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global venous skin ulcer treatment market.
Venous Skin Ulcer Treatment Market – Segmentation
TMR’s study on the global venous skin ulcer treatment market includes information divided into four sections - product, stage, end user, and by region. Changing industry trends and other crucial market dynamics associated with these sections of the global venous skin ulcer treatment market have been discussed in detail.
Advanced Wound Dressings
Negative Pressure Wound Therapy
Skin Grafts & Substitutes
Hospital & Clinics
Long-term Care Facilities
Home Care Settings
Middle East & Africa