Global Negative Pressure Wound Therapy Market is Estimated to Value Over USD 2.9 Billion by 2026 End

  • 24 Sep 2019

Global Negative Pressure Wound Therapy Market is estimated to value over USD 2.9 billion by 2026 end and register a CAGR of over 4% during the forecast period 2019 to 2026

 

Increasing prevalence of acute and chronic wounds is being witnessed all across the world which has resulted in technological advancements in the management of wound care to efficiently cater to the growing demands. A wide range of treatments like topical dressings, compression therapy, bioengineered skin grafts, adhesive bandages, antimicrobial dressings, gels and foams is available for wounds. All these factors are responsible for the global negative pressure wound therapy market growth.

 

Although, factors like a dearth of trained healthcare professionals and untraced complexities of NPWT like infection-induced death and injury may restrain the market growth. On the contrary, the high market potential in untapped emerging economies, significant unmet needs in the wound care field and an increased emphasis on technological advancements in treatment protocols are projected to offer profitable opportunities for the expansion of the global negative pressure wound therapy market size.

 

Based on the type of wound, the market is categorized into the acute wound and chronic wound. The chronic wound segment is further bifurcated into diabetic foot ulcer, arterial ulcer pressure ulcer, and venous leg ulcer. Conversely, the acute wound segment is sub-categorized into the surgical wound and burn and trauma. In 2017, chronic wounds held the largest global negative pressure wound therapy market share and are predicted to record a substantial CAGR over the forecast period.

 

Regionally, the global NPWT devices market is bifurcated into Europe, Asia Pacific, LAMEA and North America. North America region accounted for the largest market share in 2017, which was followed by the European region. On the contrary, the Asia-Pacific region is predicted to subjugate the market over the forecast period due to an ever-increasing population, improvement in patient awareness about NPWT devices and increasing disposable incomes. Additionally, Asia, being a large continent, has emerged as a hub for chronic disorders, which provides further impetus to the market growth.

 

Key market players included in the global negative pressure wound therapy industry are Acelity, Smith & Nephew, Mölnlycke Health Care AB, Convatec Group, Cardinal Health, Deroyal, Lohmann & Rauscher International GmbH & Co. Kg. Talley Group, Medela, Genadyne. 

 

Reimbursement policies are expected to be favourable for the NPWT market. In the United States, NPWT products for homecare setting come under private insurance and Medicare. Therefore, increasing coverage of reimbursements has made the NPWT treatments affordable, thus making it effectively suitable for managing wound care. Acelity’s sale of advanced wound care products experienced a rise after the Medicare reimbursements for V.A.C. therapy was attained. V.A.C. therapy sales rose to approximately 79% with over a 5% growth rate in 2013. Although owing to the arrival of competitors like Smith & Nephew, a substantial decline has occurred in the sales growth of V.A.C. therapy.

 

Global Negative Pressure Wound Therapy Market Segmentation:

By Product Type

  • Conventional NPWT Devices
  • Single-Use NPWT Devices
  • Accessories

 

By Wound Type

  • Surgical and Traumatic Wounds
  • Ulcers
  • Diabetic Foot Ulcers
  • Venous Ulcers
  • Pressure Ulcers
  • Other Ulcers
  • Burns

 

By End User

  • Hospitals
  • Home Care Settings
  • Others

 

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

 

FutureWise Key Takeaways:

• Growth prospects

• SWOT analysis 

• Key trends 

• Key data-points affecting market growth 

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global negative pressure wound therapy market by product type, by wound type, by end user and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, and the rest of the world
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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