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Negative Pressure Wound Therapy Market to Reach $2.74 Billion by 2026; Rising Prevalence of Chronic Wounds to Accelerate Growth

January 21, 2020 | Healthcare

The global negative pressure wound therapy (NPWT) market size is projected to reach USD 2.74 billion by 2026. The market is set to gain momentum from the rising number of novel product launches by the key players. Additionally, they have begun supplying NPWT systems to the developing countries across the world owing to their robust distribution networks. This information is given in a recently published report by Fortune Business Insights™, titled, “Negative Pressure Wound Therapy (NPWT) Market Size, Share & Industry Analysis, By Device Type (Conventional NPWT, and Single-use NPWT), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Burns & Trauma, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others) and Regional Forecast, 2019-2026.” The report further states that the market stood at USD 1.85 billion in 2018. However, it would exhibit a CAGR of 5.1% during the forecast period between 2019 to 2026.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/negative-pressure-wound-therapy-npwt-devices-market-101243


Introduction to Advanced NPWT Systems Will Augment Growth


The world of NPWT has gone through many changes since the past few years. In today’s world, wound healing has begun occurring accurately. An innovative NPWT can be used on a multitude of wounds ranging from those that are completely necrotic to the postoperative incisions. Numerous prominent manufacturers are also developing novel devices that are cost-effective at the same time. These factors would propel the negative pressure wound therapy market growth in the forthcoming period.


Key Segments of Vacuum Assisted Closure Devices Market



  • Device type: The market is bifurcated into single-use NPWT and conventional NPWT. The single-use NPWT segment would grow at a fast pace. It is likely to occur as the patients belonging to Europe and North America are inclining rapidly towards home care settings. Apart from that, single-use NPWT devices use battery-powered pumps and are best suited for treating low to moderately exuding wounds. They are also cost-effective. All these benefits are encouraging the masses to adopt them in homecare settings. Nowadays, owing to the ongoing technological advancements, several manufacturers are developing portable devices, which, in turn, is increasing the consumer preference towards these NPWT devices. The conventional NPWT segment, on the other hand, would exhibit a steady growth backed by the upsurge in utilization of these devices in clinics and hospitals.

  • Indication: The market is grouped into burns & trauma, pressure ulcers, diabetic foot ulcers, and others. The diabetic foot ulcers segment had held a 47.1% NPWT market share in 2018 and is expected to retain its dominant position throughout the forecast period. This growth is attributable to the rising patient pool affected by diabetic foot ulcers, as well as the increasing prevalence of diabetes. The pressure ulcers and the burns & trauma segments are anticipated to grow significantly stoked by their rising prevalence.

  • End user: The market is segregated into homecare settings, clinics, hospitals, and others. The hospital segment is set to lead in terms of negative pressure wound therapy market revenue. It would occur because of the admittance of the rising patient pool suffering from chronic or acute wounds. As per the Nursing Times, for instance, in the U.K., approximately 20,000 patients are affected by pressure ulcers every year. Such factors would affect the growth of this segment positively. The homecare settings segment would also grow at a considerable rate on account of the ever-increasing adoption of single-use NPWT in the emerging economies. Lastly, the clinics and others segments are likely to grow gradually owing to the less number of admission of patients in these settings.

  • Geography: The market is fragmented into Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America. North America had procured USD 738.1 million market share in 2018 and is expected to grow steadily in the coming years. This growth is attributable to the rising number of patients affected by pressure ulcers and burns in the U.S. Also, the cost of treatment in this region is very high as compared to the other regions. It would also contribute to the growth of the market. Asia Pacific is projected to showcase a high CAGR because of the rising cases of chronic wounds and diseases in this region. The Middle East & Africa and Latin America would register a moderate CAGR fueled by the lack of favorable reimbursement policies and expensive nature of the treatment. Europe, on the other hand, would grow slowly owing to the unavailability of reimbursement policies in countries, such as Span, France, and Italy.


Key Players Aim to Bag FDA Approval to Widen Product Portfolio Worldwide


The top companies operating in the market are persistently striving to gain a competitive edge and expand product portfolio through unique product launches. It is helping them in bagging the FDA approval for sales. They are also keeping up with all the newest NPWT market trends.  


Fortune Business Insights™ profiles a few of the most reputed organizations present in the negative pressure wound therapy market. They are as follows:



  • Medela AG

  • KCI Licensing, Inc.

  • Lohmann & Rauscher GmbH & Co. KG

  • ConvaTec Inc.

  • PAUL HARTMANN Asia-Pacific Ltd.

  • Smith & Nephew

  • Talley Group Ltd.

  • Cardinal Health

  • Mölnlycke Health Care AB

  • Other key market players


Significant Industry Developments



  • February 2019: KCI, a procurer of medical technology related to wounds and wound healing, based in Texas, unveiled its open abdomen negative pressure therapy called Abthera in Japan. It would help the company in broadening its surgical portfolio.

  • February 2018: Smith & Nephew plc, a multinational medical equipment manufacturing company based in the U.K., announced the launch of its latest PICO 7 single-use negative pressure wound therapy (sNPWT) system in Europe.


The negative pressure wound therapy (NPWT) market is segmented in the following way:











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



 



By Device Type



  • Conventional NPWT

  • Single-use NPWT



By Indication



  • Diabetic Foot Ulcers

  • Pressure Ulcers

  • Burns & Trauma

  • Others



By End User



  • Hospitals

  • Clinics

  • Homecare Settings

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)


Negative Pressure Wound Therapy (NPWT) Market
  • PDF
  • 2018
  • 2015-2017
  • 110

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