The global Venous Ulcer Treatment Market is predicted to be worth US$ 2.96 billion in 2023, with a compound annual growth rate (CAGR) of 6.5% from 2023 to 2033. The market is expected to reach US$ 7.61 billion by the end of the forecast period. As per the NHS, venous ulcers are the most frequent cause of leg ulcers, making up for more than 90% of all instances and impacting approximately 1 in 500 people in the UK. The increase in the incidence of venous ulcers and the upsurge in the implementation of compression treatment for venous leg ulcers are the primary considerations driving market growth over the coming years. Increased awareness about the presence of therapeutic interventions for venous ulcers as well as breakthroughs in therapeutic approaches is expected to propel the Venous Ulcer Treatment market expansion over the forecast period.
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In 2022, North America led the global Venous Ulcer Treatment industry. During the forecast years, it is expected to lead the market. During the forthcoming years, the European Venous Ulcer Treatment market is expected to increase at an accelerating rate. The pervasive use of wound management additives across several growing economies, along with the United Kingdom, has developed significant revenue over the decades. North America dominated the worldwide market in 2022 and is predicted to continue to do so throughout the forthcoming years. The regional market is growing as more individuals use highly advanced wound care items and therapeutic interventions, particularly negative pressure wound treatment. In the near future, continuing R&D on these will expand new revenue opportunities.
Key Takeaways from the Market Study
- Demand increased significantly from 2018 to 2022, with a CAGR of 5.8%.
- According to a National Library of Medicine report, the overall prevalence of this disease is 1%, rising to 3% among those over 65.
- The prevalence of venous ulcers in the United States ranges from 1% to 3%. 2,3 According to the AAFP organization
- The global Venous Ulcer Treatment market is estimated to be worth US$ 7.61 billion in 2033
“Emerging breakthroughs in treatment therapy are expected to contribute significantly to the growth of the Venous Ulcer Treatment market in the coming years. The growing number of players involved in the development of ultra-sophisticated products for the management of venous ulcers is expected to meet the growing demand for a robust solution for venous ulcers,” says the FMI analyst.
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Key Market Players
Significant players in the Venous Ulcer Treatment market are Angiodynamics, Sigvaris Global, Medi GmbH & Co. KG, Activa Healthcare, 3M, Medtronic, Bristol Myers Squibb Co, Sanofi, Bayer AG, Pfizer Inc, Novo Nordisk A/S. Some of the latest developments are:
- The Sigvaris ULCER X Wound Healing Compression Stocking Kit, which was introduced in September 2020, is a simple and advanced solution for effectively treating venous conditions and intense leg ulceration.
- Medi GmbH & Co. KG introduced circaid® for venous leg ulcers as an adjustable compression device for the therapies of venous leg ulcers in February 2020.
More Valuable Insights Available
North America and Europe are expected to hold the largest share of the venous skin ulcer treatment market due to high incidence of venous diseases, well-established healthcare infrastructure, and availability of advanced treatment options. The Asia Pacific region is projected to witness the fastest growth rate due to increasing awareness about venous skin ulcers and a growing geriatric population.
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Key Segments Profiled in the Venous Ulcer Treatment Market Industry Survey
By Diseases Type:
- Arterial Ulcers
- Neurotropic Ulcer
- Venous Ulcers
- Diabetic Ulcers
By Treatment Type:
- Compression Therapy
- Surgical Therapy
- Skin Grafting
- Advanced Wound Dressing
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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