The Global Negative Pressure Wound Therapy Market Held a Market Value of USD 2.24 Billion in 2017 and is expected to register a CAGR of 6.7% During the Forecast Period.
Negative Pressure Wound Therapy Market – Highlights
The global negative pressure wound therapy market held a market value of USD 2.24 billion in 2017 and is expected to register a CAGR of 6.7% during the forecast period. Negative pressure wound therapy involves the continuous or intermittent application of subatmospheric pressure to the surface of a wound to assist healing. It is gaining popularity as a treatment modality for the management of many acute and chronic wounds.
The increasing prevalence of chronic diseases such as diabetes and obesity, rising causalities caused by trauma and accidents, and increasing spending on chronic and surgical wounds are expected to drive the market growth over the forecast period. According to the British Diabetic Association operating as Diabetes UK, from 2016 to 2017, about 3,116,399 people had diabetes in England. Despite the drivers, the dearth of trained healthcare professionals and the high cost of this therapy over the conventional wound therapy could restrain the market growth over the assessment period.
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Negative Pressure Wound Therapy Market – Segmentation
The global negative pressure wound therapy market has been segmented into product type, wound type, and end-user.
The market, on the basis of product type, has been segmented into conventional negative pressure wound therapy devices, single-use negative pressure wound therapy devices, and accessories. The conventional negative pressure wound therapy devices segment accounted for the largest share of the global market in 2017. The market growth of the segment is attributed to the ability of conventional negative pressure wound therapy devices to effectively manage severe wound exudates. Moreover, the single-use negative pressure wound therapy devices segment is anticipated to be the fastest growing segment on the basis of product type in the global market.
The global market, on the basis of wound type, has been segmented into surgical and traumatic wounds, ulcers, and burns. The ulcers segment has been further segmented into diabetic foot ulcers, venous ulcers, pressure ulcers, and others.
The global negative pressure wound therapy market, by end-user, has been segmented into hospitals, home care settings, and others.
Negative Pressure Wound Therapy Market – Key Players
Some of the prominent players in the global negative pressure wound therapy market are Smith & Nephew, ACELITY L. P. Inc., Cardinal Health, Talley Group, ConvaTec Group Plc., DeRoyal Industries, Inc., Lohmann & Rauscher International GmbH & Co. Kg, Medela, Genadyne, and Mölnlycke Health Care AB (A Subsidiary of Investor AB).
Negative Pressure Wound Therapy Market – Regional Analysis
Geographically, the Americas is expected to dominate the global market owing to the presence of well-developed healthcare sector, rising prevalence of diabetes, increasing rate of accidents and rising expenditure for the healthcare sector. Europe is expected to hold the second largest position in the global market owing to the growing prevalence of chronic diseases coupled with increasing occurrences of accidents and burn cases. Asia-Pacific is expected to be the fastest growing market owing to a huge population base of diabetic patients and increasing developments in the healthcare segment. Furthermore, the Middle Eastern and African region is expected to account for the least market share in the global market.
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Major Table of Content by “Negative Pressure Wound Therapy Market Research Report – Forecast to 2023”
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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