Global Vascular Ulcers Treatment Market, By Disease Type (Arterial Ulcers, Venous Ulcers, Neurotropic Ulcers, Diabetic Ulcers, and Others), By Drug Class (Antibiotics, Hemorrheologic Agents, Corticosteroids, Non-steroidal Anti-inflammatory Drug, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 3.36 billion in 2021 and is expected to exhibit a CAGR of 6.1% during the forecast period (2021-2028).
Rising number of collaborations between academic or research institutes is expected to drive growth of the global vascular ulcers treatment market during the forecast period. For instance, on June 15, 2021, Professor Leung Chung Hang and Associate Professor Lin Ligen of the Institute of Chinese Medical Sciences (ICMS), University of Macau (UM), and Associate Professor Ma Dik Lung of the Department of Chemistry, Hong Kong Baptist University (HKBU), led research teams that successfully designed and synthesized a new stabilizer, which has the potential to be developed as a drug for the treatment of diabetic foot ulcer and can significantly accelerate diabetic wound closure. The findings were published in the prestigious journal Nature Communications. The findings in the study validate the efficacy of VHL–HIF-1 inhibitors in treating diabetic wounds via various drug administration routes, including intraperitoneal injection and topical application.
Increasing number of collaborations and agreements between market players is expected to propel the growth of the global vascular ulcers treatment market during the forecast period. For instance, on October 31, 2017, Promore Pharma AB, a Swedish biopharmaceutical developer of therapeutic peptides, announced that it reached an agreement with PCG Clinical Services AB, based out of Uppsala, Sweden to manage the LL-37 Phase IIb trial in patients with difficult-to-heal leg ulcers. In a competitive process, PCG was chosen from among several potential partners.
Global Vascular Ulcers Treatment market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global vascular ulcers treatment market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. 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 for diabetic foot ulcers. For instance, according to the articles published in the journal Diabetic Care in October 2020, a study was conducted at a multidisciplinary center in China to determine the impact of the COVID-19 outbreak on patients with diabetic foot ulcers. As per this study, the COVID-19 outbreak had serious and disruptive effects on the delivery of diabetic foot ulcer care, with significant drops in hospitalization and extended periods of treatment. It is possible that patients' access to medical services is hampered by fears of being infected or stigmatized by COVID-19.
Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Vascular Ulcers Treatment Market, By Disease Type (Arterial Ulcers, Venous Ulcers, Neurotropic Ulcers, Diabetic Ulcers, and Others), By Drug Class (Antibiotics, Hemorrheologic Agents, Corticosteroids, Non-steroidal Anti-inflammatory Drug, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Vascular Ulcers Treatment Market:
- The global vascular ulcers treatment market is expected to exhibit a CAGR of 6.1 % over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), owing to rising awareness campaigns related to diabetes. For instance, on November 1, 2019, The American Diabetes Association launched the Count Me in Campaign to decrease the number of cases of diabetes. The American Diabetes Association asked people in the U.S. to show their support, whether they have diabetes themselves or are supporting someone who does, as a caregiver, health care provider, or a friend. The goal of the campaign was to get people to share their images on social media with the #CountMeInADA and show the world that we are all in this together.
- Some of the 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.
