Venous Skin Ulcer Treatment Market Size, Share & Trends Analysis Report by Charger Type, By Connector, By Application, And Segment Forecasts to 2030

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.

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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.

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.

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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.

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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.

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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

3M

URGO Medical

Bauerfeind

PAUL HARTMANN AG

SIGVARIS

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.

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