Yahoo Finance Venous Skin Ulcer Treatment Market | Exclusive Report on Current Scenario: TMR Study
Advancements in wound care products and therapies opening up lucrative avenues in venous skin ulcer treatment market; medtech companies lean on offering innovative products for managing hard-to-heal venous leg ulcers (VLUs), particularly electroceutical therapy
Wilmington, Delaware, United States, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Key players are implementing product innovations as a key marketing strategy for venous skin ulcer treatment for venous leg ulcers (VLUs). They are notably exploring the therapeutic potential of electroceutical therapy in managing the burden of hard-to-heal VLUs, along with emphasising on effectiveness of compression products to prevent recurrence. The venous skin ulcer treatment market size is projected to reach US$ 4.3 Bn by 2030.
Many prominent venous skin ulcer treatment market manufacturers are leaning on raising the awareness of bio skin treatments and bioengineered skin products as cutting-edge therapies. Of note, key players are putting their weight behind more clinical studies to develop innovative bioengineered skin products for treating venous leg ulcers.
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Key Findings of Venous Skin Ulcer Treatment Market Study
Growing Adoption of Wound Care and Dressings to Propel Revenue Generation: The TMR study found that the growing demand for advanced wound care and negative pressure wound therapy is expanding the revenue potential in venous skin ulcer treatment market. Rise in adoption of wound dressing in the patient population has generated substantial revenues to firms in the value chain. Innovation in dressings focuses on increasing the comfort for patients. Furthermore, medtech companies are expected to gain steady revenue streams from the adoption of negative pressure wound therapy for venous skin ulcer treatment.
Use in Managing Venous Leg Ulcers (VLUs) Presents Incredible Avenues: Hard-to-heal venous leg ulcers (VLUs) present a massive economic and health burden, especially in some developed nations. This presents an unmet need in the patient population, which players are keenly pursuing to garner competitive edge, indicated a recent venous skin ulcer treatment market analysis. New methods such as lower-limb assessment algorithms are becoming an integral part of many standardized assessments used in managing VLUs. Of note, healthcare agencies are working collaboratively to boost nursing staff knowledge.
Rising Uptake of Compression Therapies Expanding Profitable Avenues: The study authors observed that there is a high health burden due to recurrence of leg ulcers. A granular venous skin ulcer treatment market analysis underscored the trend of use of compression hosiery products in preventing that. Health programs that raise the awareness toward the same has enriched the venous skin ulcer treatment market outlook.
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Venous Skin Ulcer Treatment Market: Key Drivers
High prevalence and rising incidence of venous leg ulcers globally pose a considerable burden on healthcare systems. This is a key underpinning for the prospects of venous skin ulcer treatment. Moreover, the prevalence of VLUs in elderly population is a key driver of the venous skin ulcer treatment market, since populations are rapidly aging in several economies around the world.
Advancements made in wound care products in conjunction with efforts made by various stakeholders to augment the knowledge of nursing staff will enrich the outlook of the venous skin ulcer treatment market.
Growing awareness of wound care treatments in home care settings has extended the horizon for growth of many companies in the venous skin ulcer treatment market.
Venous Skin Ulcer Treatment Market: Regional Growth Dynamics
The venous skin ulcer treatment market in Europe is anticipated to expand at an exponential rate during the forecast period of 2020 - 2030. Widespread uptake of wound care dressings in several key economies, such as the U.K., has generated sizable revenues over the years.
North America held a major share of the global market in 2019, and is estimated to hold its dominance during the forecast period. The regional market is expanding from rise in adoption of technologically advanced wound care products and therapies, notably negative pressure wound therapy. Ongoing R&D on these will open up new revenue streams in the near future.
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Venous Skin Ulcer Treatment Market: Key Players
Some of the key players are PAUL HARTMANN AG, SIGVARIS, Bauerfeind, URGO Medical, 3M, Cardinal Health, Mölnlycke Health Care AB, Integra LifeSciences Corporation, and Smith & Nephew plc.
Venous Skin Ulcer Treatment Market Segmentation
Product
Compression Therapy
Compression Bandages
Compression Hosiery
Advanced Wound Dressings
Negative Pressure Wound Therapy
Skin Grafts & Substitutes
Medications
Others
Stage
Stage I
Stage II
Stage III
Stage IV
End User
Hospital & Clinics
Inpatient Settings
Outpatient Settings
Long-term Care Facilities
Home Care Settings
Others
Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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