Transparency Market Research (TMR) has published a new report titled, “Unna Boot Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global Unna boot market was valued at US$ 90 Mn in 2017 and is projected to reach US$ 144.6 Mn in 2026, expanding at a CAGR of 5% during the forecast period, 2018 to 2026. Factors, such as, rise in prevalence of venous leg ulcers and increase in incidence rate of injuries related to accidents, sports, and adventures are driving the growth of the Unna boot market, globally. Moreover, global aging population and better efficacy and wound healing features provided by Unna boot bandages at competitive prices are propelling the growth of the global market. North America is expected to dominate the global Unna boot market during the forecast period due to rise in adoption of Unna boot in the region for treatment of venous leg ulcers and associated conditions. Asia Pacific and Europe are projected to be potential markets for Unna boot. The Unna boot market in Asia Pacific is expected to expand at a CAGR of 5.9% during the forecast period.
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Rise in prevalence of venous leg ulcers and increase in incidence rate of injuries related to accidents, sports, and adventures to drive the global market
Rise in prevalence of venous leg ulcers is major driver of the Unna boot market. Research suggests that incidence of venous ulcers is higher among the aging population. As per the National Institutes of Health, the U.S., venous leg ulcers account for 70%-90% of ulcers of the lower leg and affect approximately 600,000 people in the U.S. annually. The annual cost of treating venous ulcers is estimated at US$ 2 Bn to US$ 3 Bn in the country. The American Academy of Orthopedic Surgeons (AAOS) revealed that around 25% of sports injuries were related to lower extremities, such as, ankle and foot. Thus, increase in injuries related to sports, accidents, and adventures is projected to drive the Unna boot market in the near future. Growth in aging population across the world and better efficacy and wound healing features provided by Unna boot bandages at competitive prices are propelling the global Unna boot market. Average price of Unna flex compression bandage in the U.S. is US$ 4-US$ 12. Also, it is easily available without prescription.
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Zinc oxide to be highly lucrative segment
Zinc oxide is the dominant segment of the global Unna boot market. It is projected to account for 80.7% share of the market by 2026, expanding at a CAGR of 5.3% during the forecast period of 2018 to 2026. The segment is anticipated to reach market value of US$ 116 Mn in 2026. Zinc oxide bandages offer various advantages over other bandages, such as, they are multi-layer, multi-component, and stiff and high pressure bandages.
Adoption of Unna boot is likely to surge among venous leg ulcer patients
In terms of application, the global Unna boot market can be segmented into venous leg ulcers, lymphedema, eczema, and others. Venous leg ulcers is the leading segment of the market, with revenue of US$ 59 Mn in 2017. The segment is expected to expand at a CAGR of 5.5% during the forecast period and reach the market value of US$ 95 Mn in 2026. Studies suggest that 1% of the total global population is affected with venous leg ulcers in a lifetime. Higher prevalence of venous leg ulcers, severity of the condition, and its long-term management are the major contributing factors of the venous leg ulcers segment.
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North America expected to dominate global market
In terms of region, the global Unna boot market can be segmented into five major regions, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominated the global Unna boot market in 2017. Total revenue of the Unna Boot market in North America was US$ 51 Mn in 2017, owing to high prevalence of diseases, such as, venous leg ulcers, lymphedema, and eczema in the region, besides high level of awareness among patients and care givers, supportive reimbursement structure, and high product prices. The market in the region is expected to expand at a CAGR of 5% during the forecast period. The U.S. leads the Unna boot market in North America with a major market share. The Unna boot market in the country is projected to expand at a CAGR of 5.4% during the forecast period. Venous leg ulcers is the dominant segment of the Unna boot market in North America and is anticipated to exhibit a CAGR of 5.5% during the same period. Asia Pacific is a highly promising market for Unna boot, in terms of growth, with an estimated CAGR of 5.9% (2018-2026), due to large patient pool and rapid growth in geriatric population.
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Top four players anticipated to account for two-third of global market revenue
The global Unna boot market is highly fragmented with a large number of players. Key players operating in the global market include Medline Industries, Inc., American Medicals, Cardinal Health, BSN Medical, ConvaTec, Inc., Andover Health, Inc., GF HEALTHCARE PRODUCTS, Inc., and DERMA SCIENCES. BSN Medical, Medline industries, Inc., and ConvaTec, Inc. were the market leaders in 2017, and are expected to account for dominant share of the market during the forecast period. Robust operational network and high-quality products have contributed to their leading position in the global market. New product launch, geographic expansion in emerging markets, and differentiating strategies such as single-patient use and mergers & acquisitions are some of the key strategies adopted by these leading players.
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