Venous Leg Ulcer (VLU) Treatment Market Size, Share and Industry Analysis, By Product (Compression Therapy, Advanced Wound Dressings, Others), By End User (Hospitals, Specialty Clinics, Homecare Settings, Others), and Regional Forecast, 2024-2032

The Global venous leg ulcer (VLU) treatment market size stood at USD 2.96 billion in 2018 is projected to reach USD 7.21 billion by 2032, exhibiting a CAGR of 6.6% during the forecast period. Europe dominated the global market with a share of 33.84% in 2018.

A venous leg ulcer is a long-lasting chronic sore that usually develops on the inside of the leg, just above the ankle. It can develop after a minor injury, where persistently high pressure in the veins has damaged the skin.  According to the NHS, venous leg ulcer is the most common type of leg ulcer, accounting for over 90% of all cases and it affects around 1 in 500 people in UK. The rise in prevalence of venous leg ulcers and the rise in the adoption of compression therapy for the treatment of venous leg ulcers are the key factors responsible for elevating the market growth during the forecast period. The rising awareness about the availability of treatment options for venous leg ulcers and growing advancements in the treatment procedures are anticipated to propel the VLU treatment market growth during the forecast period.

MARKET TRENDS

Increasing Adoption of Compression Therapy for the Management of Venous Leg Ulcer

Venous leg ulcers are hard to heal.  However, innovations in treatment options has been observed as a significant venous leg ulcer treatment market trend. Compression therapy has been clinically proven to accelerate VLU healing time and to decrease the recurrence rate. Along with this, robust research activities by key market players in compression therapy product developments is significantly increasing its adoption among the patients. For instance, in February 2018, SIGVARIS launched three inelastic compression products (COOLFLEX NF, COMPREFLEX REDUCE and COMPREFLEX ARM.) for the treatment of venous leg ulcer.

MARKET DRIVERS

Increasing Prevalence of Venous Leg Ulcers Globally to Accelerate Market Growth

Globally, the prevalence of venous leg ulcers is increasing at a rapid pace. Immobility, varicose veins, obesity, pregnancy, previous deep vein thrombosis are some of the factors that contribute to the development of venous leg ulcers. According to an article published by The National Center for Biotechnology Information (NCBI) in 2010, the prevalence of venous leg ulcers in the U.S. is approximately 600,000 annually. This, coupled with rising awareness among the patient population regarding available treatment options, and rising geriatric population are poised to accelerate the market growth.

Advancements in Treatment Options to Provide Lucrative Growth to Market

Growing advancements in treatment therapy are anticipated to play a vital role in fueling venous leg ulcer treatment market growth during the forecast period. Traditional treatment options have been evolved into multi-component and two-layer compression therapy systems, or short-stretch compression therapy systems. This has advanced the ease of bandage application for clinicians while providing them with the products that deliver effective therapeutic compression and is expected to boost the market growth. Moreover, the rise in the number of players engaged in the development of the highly advanced product for the treatment of venous leg ulcers is likely to meet the growing demand for the urgent treatment of venous leg ulcers. For instance, in February 2011, 3M launched “3M Coban 2 Compression System”, a two-layer compression bandage system for the treatment of venous leg ulcers.

MARKET RESTRAINT

High Cost of Ulcer Management & Unawareness About Treatment Options in Emerging Countries to Hamper Growth

Lack of awareness about the treatment options for venous leg ulcers in many less-developed countries is likely to hinder venous leg ulcer treatment market growth. Moreover, the high cost of ulcer management is likely to restrict the market growth. However, initiatives by governmental and non-governmental organizations in enhancing the awareness about the availability of innovative treatment options in the market for venous leg ulcers and various product launches to expand product offerings by many key players are likely to offer valuable opportunities for expansion in emerging regions.

SEGMENTATION

By Product Analysis

Compression Therapy Segment to Hold a Leading Market Share

In terms of product, the market has been segmented into compression therapy, advanced wound dressings, and others. Among them, the compression therapy segment is anticipated to dominate the venous leg ulcer treatment market. Introduction of advanced compression bandages and stockings for the treatment of venous leg ulcers and increasing adoption of these products are some of the major factors to drive the compression therapy segment's growth. In combination to this, the growing awareness about the benefits of compression therapy among the patients is likely to increase the usage of compression therapy at an accelerated speed. Moreover, the segment is projected to continue its dominance by expanding at a significantly high growth rate throughout the forecast period.

The advanced wound dressings segment is expected to witness considerable growth rate, owing to the increased number of advanced wound dressing launches by the market players. For instance, In February 2019, AxioBiosolutions launched MaxioCel, the next generation chitosan-based advanced wound care dressing for the treatment of chronic wounds such as diabetic foot ulcers, venous leg ulcers, and other complex wounds.

The others segment includes pharmaceutical therapies such as analgesis & anti-infective, topical wound care, wound care devices, active wound therapies, and traditional wound dressings.

By End User

Hospitals Segment to Continue Its Dominance During the Forecast Period

Based on end-user, the VLU treatment market segments include hospitals, specialty clinics, home care settings, and others. The hospital segment is projected to hold a dominant share in the market during the forecast period owing to the rise in the hospitalization rate and the rise in hospital healthcare infrastructure.

The home care setting segment is anticipated to exhibit the fastest growth rate owing to the rise in the geriatric patient pool with and gradual shift in the preference of home care settings products for the treatment of venous leg ulcers. The specialty clinics segment is likely to expand at a considerable growth rate owing to an increase in the number of specialty clinics with advanced facilities, trained staff offering personalized wound care products for venous leg ulcer management.

REGIONAL ANALYSIS

Geographically, the venous leg ulcers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe, being technologically strong in terms of research and development, demonstrates indications of a strong foothold in the venous leg ulcer treatment market. Moreover, the rising prevalence of venous leg ulcer and a growing geriatric population in this region will contribute to the growth of the VLU market in UK. For instance, according to an article published by Age UK in 2019, there are approximately 12 million people aged 65 and above in UK.

North America region is expected to hold the second position in VLU market. Increased launch of innovative products by key players is majorly responsible for venous leg ulcer market expansion.

As per our market research conclusion, Asia Pacific is expected to witness the highest growth rate in terms of venous leg ulcer treatment. The unprecedented rise in the geriatric population along with the increasing patient pool of venous leg ulcers is likely to contribute to the market growth in the region. The Middle East & Africa is expected to register moderate growth owing to the rising unmet needs for cost-effective treatment options for venous leg ulcer.

KEY INDUSTRY PLAYERS

Leading players to Strongly Focus on Partnerships and Acquisition to Strengthen Their Market Position

Leading players in the venous leg ulcer treatment market include Integra Lifesciences, Smith & Nephew, Coloplast Corp., and 3M. Introducing innovative treatment options for venous leg ulcers and expansion of sales channels are key strategies adopted by leading market players to maintain their dominant position in the market. Moreover, a strong focus on the strategic expansion of their product offerings through acquisitions & partnerships in the venous leg ulcer treatment is likely to provide a strong foothold in the venous leg ulcer treatment market.

October 2019 – 3M completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide with an aim to expand its product offerings in advanced and surgical wound care.

LIST OF KEY COMPANIES PROFILED IN THE REPORT:

• Integra Lifesciences


• Smith & Nephew


• Coloplast Corp.


• URGO


• 3M


• Paul Hartmann


• Bauerfeind


• Cardinal Health


• SIGVARIS GROUP


• KCI Licensing, Inc.


• Other Players

 KEY INDUSTRY DEVELOPMENTS:

• June 2019 Milliken & Company acquired Andover Healthcare, a leading manufacturer of cohesive bandages and compression systems with an aim to provide innovative and comprehensive solutions for patient care.


• February 2019 AxioBiosolutions launched MaxioCel, the next generation chitosan-based advanced wound care dressing for the treatment of chronic wounds such as diabetic foot ulcer, venous leg ulcers, and other complex wounds.

FUTURE OUTLOOK

The field of venous leg ulcers is shifting towards developing innovative products to provide effective venous leg ulcer treatment procedures. Due to the trend of the adoption of compression therapy for the treatment, such as compression bandages and stockings is anticipated to have the potential in healing the venous leg ulcer at a rapid rate, thus accelerating the care in patients.

REPORT COVERAGE

The report offers qualitative and quantitative insights on venous leg ulcer treatment industries and the detailed analysis of market size & growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of the market dynamics, restraints, competitive landscape, regional analysis, and opportunities. It further offers the pipeline analysis of topical drugs, the regulatory scenario for key countries, key industry developments such as mergers & acquisitions, an overview of venous leg ulcers by critical countries, snapshots on the novel & upcoming innovative treatment options for a venous leg ulcer.

Report Scope & Segmentation