Negative Pressure Wound Therapy Market is Expected to Reach $3.08 bn by 2027
The Negative Pressure Wound Therapy Market was valued at US$ 2.26 billion in the year 2019 and is estimated to reach US$ 3.08 billion by 2027, at a CAGR of 3.95%.
Negative Pressure Wound Therapy (NPWT), otherwise known as vacuum-assisted wound closure is a wound dressing technique that applies continuous pressure to acute and chronic wounds. It is one of the popular approaches to wound management. Generally, NPWT is prescribed for diabetic ulcers, pressure ulcers, wounds and injuries. The technique draws the fluid from the wounded area, aids quicker healing and reduces the infection scenarios.
Prevalence of diabetes and diabetic foot ulcers, arterial ulcers is increasing across the world. The increase in the number of diabetics is one of the main contributing factors for the development of wounds and is required to be addressed through wound healing therapies. Additionally, the number of geriatric population is one of the significant factors is also expected to boost market growth. These two factors are increasing the array of advancements in the management of wound care. Compression therapy, adhesive bandages, foams, antimicrobial dressings, skin grafts, etc. are the treatments available. Yet, NPWT is more preferred treatment due to its advantages. Also, burn cases and traumatic cases are increasing. Further, the single-use NPWT have an edge over the conventional therapy due to their cost-effectiveness and affordability, ease of use in-home care and reduction of hospital stays are expected to contribute to the growth of NPWT market. However, the hospital held the NPWT markets major share during the year 2018 and also anticipated to uphold with a major market share throughout the forecast period.
The North American region held the major market share owing to more incidences of diabetic ulcer and pressure ulcers which requires constant treatment. Further, acceptance of advanced methodologies, the presence of developed healthcare infrastructure and acceptance of novel treatment methods are expected to contribute to the market growth. Followed by North America are the European region and the APAC regions. Especially in the APAC region, China and India are expected to make significant contributions through the forecast period.
The companies which contribute mainly to the NPWT market are Acelity, Smith & Nephew, Mölnlycke Health Care, Cardinal Health, ConvaTec, DeRoyal, Lohmann & Rauscher, Talley Group, Medela, Genadyne and many more…
Based on Product Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Bn)
- Conventional Negative Pressure Wound Therapy
- Single-use Negative Pressure Wound Therapy
Based on Wound Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Bn)
- Surgical & Traumatic wounds
Based on End User (Market Size and Forecast, and Y-o-Y Growth, (US$ Bn)
- Hospitals & Clinics
- Home care
Based on Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Bn)
- North America
- Asia Pacific (APAC)
- Latin America, Middle East & Africa (LAMEA)
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Negative Pressure Wound Therapy Market, 2015 to 2018
- Forecast of the Negative Pressure Wound Therapy Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Negative Pressure Wound Therapy Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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