The global venous ulcer treatment market is predicted to exceed a remarkable valuation of US$ 2.96 Million by 2023, with a compound annual growth rate (CAGR) of 6.5%, according to a recently published report by Future Market Insights. 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
Future Market Insights offers an unbiased analysis of the global unstable angina therapeutics market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the unstable angina therapeutics market, the market is segmented on the basis of 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) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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