Vascular ulcers are chronic or long-term, skin breaches or breaking of skin caused due to difficulties with the vascular system, also known as circulatory system. Diabetes, deep vein thrombosis, rheumatoid arthritis, arterial disease, lupus, chronic kidney disease, high blood pressure, and high cholesterol are factors that may contribute to ulcers.
Vascular ulcers are mainly of two types- venous ulcers and arterial ulcers. Both types of ulcers can be caused by wounds or by prolonged pressure.
Venous ulcers are caused by vein problems and most commonly appear in the lower legs and ankles. They are also known as stasis or varicose ulcers. Venous ulcers account for approximately 80% of leg ulcers. They can be treated by antibiotics or compression therapy.
Arterial ulcers, also known as ischemic ulcers, are caused by problems with the arteries, which restrict blood flow to the legs. These issues could include artery fat buildup, diabetes, and/or certain infections. They can be treated by drugs like antibiotics or surgeries like angioplasty or in extreme cases need amputation.
Global Vascular Ulcers Treatment Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 213 million cases and 4.48 million deaths due to coronavirus disease (COVID-19) were reported till August 25, 2021 across the globe.
Impact of COVID-19 on Demand and Supply of Vascular Ulcers Treatment
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Many countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.
Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global vascular ulcers treatment market during the forecast period, owing to delay in treatment of chronic wound care. For instance, according to the article published in the International Wound Journal in February 2021, an Italian survey was carried out, in which medical doctors, nurses, caregivers, and 28 patients with chronic leg ulcers were asked about the impact of COVID-19 on wound care. The findings of this study stated that more than 75% of patients discontinued their visits to the wound clinic. During the pandemic, most patients or their relatives continued to change wound dressings at home, and nearly 13% of patients did not change their wound dressings at all. Furthermore, more than 15% reported that their wound had worsened.
The global vascular ulcers treatment market is estimated to be valued at US$ 3.36 Bn in 2021 and is expected to exhibit a CAGR of 6.1 % over the forecast period (2021-2028).
Figure 1: Global Vascular Ulcers Treatment Market Share (%) Analysis, By Drug Class, 2021
The increase in diabetes cases is a major factor that is expected to drive the growth of the global vascular ulcers treatment market over the forecast period
The emerging prevalence of diabetes, one of the main causes of vascular ulcers, is expected to bolster the growth of global vascular ulcers treatment market. For instance, according to the Centers for Disease Control and Prevention Report 2020, diabetes affected 34.2 million people in 2020. Diabetes was diagnosed in 26.9 million people of all ages or 8.2 percent of the U.S. population, with 7.3 million people or 21.4 percent, remaining undiagnosed.
|Base Year:||2020||Market Size in 2021:||US$ 3.36 Bn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||6.1 %||2028 Value Projection:||US$ 5.08 Billion|
Bristol Myers Squibb Co., Sanofi, Bayer AG, Pfizer Inc., Novo Nordisk A/S, and Cadila Pharmaceuticals Ltd.
Research and Development Activities
Increasing number of clinical trials is expected to aid in the growth of the global vascular ulcers treatment market over the forecast period. For instance, on November 19, 2020, Promore Pharma AB, a Swedish biopharmaceutical company, announced the results of its phase IIb clinical trial of ropocamptide (LL-37), a human antimicrobial peptide that is a new candidate drug for the treatment of venous leg ulcers. Patients with larger leg ulcers improved significantly and statistically when compared to placebo, while no statistically significant differences could be found in the overall study group. The improvement caused by ropocamptide treatment was more pronounced in the group of patients receiving 0.5 mg/ml, confirming the dose-response findings of the company's previous Phase 2 study.
Global Vascular Ulcers Treatment Market – Regional Analysis
On the basis of region, the global vascular ulcers treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global vascular ulcers treatment market over the forecast period, owing to the public initiatives related to diabetes. For instance, on November 17, 2020, the Centers for Disease and Control and Prevention (CDC) added a new Social Determinants of Health (SDOH) module to the U.S. Diabetes Surveillance System to assist in identifying underprivileged areas of the country and assessing the potential impact of health disparities on diabetes burden and risk factors. The SDOH module provides public health professionals and researchers with a more comprehensive look at the factors that may impact people's ability to successfully manage diabetes and prevent type 2 diabetes across the U.S.
Moreover, due to product launches or approvals, Asia Pacific is expected to witness a significant growth in the global vascular ulcers treatment market over the forecast period. For instance, on September 28, 2020, Centaur Pharmaceuticals, a fully integrated pharmaceutical company with expertise across the pharmaceutical value chain, launched Woxheal, a New Chemical Entity (NCE) in India. The product will be available across the country beginning from October 1, 2020. For a week's treatment, the drug will cost US$ 25. The medication is manufactured at the company's facilities in Mumbai and Goa, and the active pharmaceutical ingredients (APIs) produced at its facility in Pune. All three facilities are U.S. Food and Drug Administration (FDA)-approved.
Figure 2: Global Vascular Ulcers Treatment Market Value (US$ Bn), by Region, 2021
Global Vascular Ulcers Treatment Market – Competitive Landscape
Major players operating in the global vascular ulcers treatment market include Bristol Myers Squibb Co., Sanofi, Bayer AG, Pfizer Inc., Novo Nordisk A/S, and Cadila Pharmaceuticals Ltd.
A vascular ulcer is a type of wound or sore that does not heal or returns repeatedly. Leg and foot ulcers are frequently caused by cardiovascular or other medical conditions. They can appear on the inside of your leg below the knee, the bottoms of your feet, or anywhere your feet rub together.
To treat vascular ulcers, the doctor may advise taking antibiotics or dressing, cleaning, and bandaging the wound. They may also advise to use compression therapy. This entails wrapping the affected area in a compression bandage or stocking. This pressure increases blood flow and alleviates symptoms.
Market players are focused on awareness programs related to impact of heart health on wound healing, which could contribute to the growth of the global vascular ulcers treatment market over the forecast period. For instance, on February 3, 2020, Healogics Inc., leading provider of advanced wound care services, conducted their fifth annual Heart Health Awareness campaign to bring attention to the concerns of heart health and wound healing. During Heart Health Awareness Month, members of the Healogics team collaborated to raise awareness about the impact of cardiovascular illnesses on wound healing. Also, it was explained how distinguishing between arterial and venous ulcers can be difficult, but a precise diagnosis can lead to the best treatment options.
Increasing initiatives by non-profit organizations related to diabetes is expected to strengthen their position in the global vascular ulcers treatment market. For instance, on November 14, 2018, The American Medical Association (AMA), the Centers for Disease Control and Prevention (CDC), and the Ad Council launched the "Do I Have Pre-diabetes" campaign, which features motivational messages emphasizing the prevalence of pre-diabetes in American adults. The newly updated campaign employs amusing scenarios to show viewers the many people in their lives who may have pre-diabetes and encourages them to take an easy online risk test to find out where they stand.
Market players and non-profit organizations are involved in expanding their global presence by adopting strategies such as acquisitions and partnerships, which is expected to drive the growth of the global vascular ulcers treatment market. For instance, on April 14, 2021, The Lindsay Leg Club Foundation (LLCF), a charitable foundation in the U.K., announced an innovative partnership agreement with AD INTEGRUM Vascular & Wound Care, a vascular and wound care service in England. The goal of this collaborative working partnership is to raise awareness of the fact that the two organizations are working towards the same goal: providing wound care and a better quality of life for people with lower limb conditions and leg ulcers.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.