Negative Pressure Therapy Market Research Report Show Information By Product Type Conventional Negative Pressure Wound Therapy Devices and Others, Wound Type Surgical and Traumatic Wounds, Ulcers, and Burns, & End-User Hospitals and Others—Forecast till 2023
Global Negative Pressure Wound Therapy Market
According to Market research Future (MRFR), the global negative pressure wound therapy (NPWT) market is anticipated to grow notably over the forecast period and is projected to record a CAGR of 6.7%. Influential actors such as the rising prevalence of chronic diseases such as diabetes and obesity, among others, along with growing causalities due to trauma and accidents are expected to drive the market over the review period. Additionally, the growing expenditure on chronic and surgical wounds are estimated to propel the growth of the market.
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Moreover, the rising rate of cesarean sections in elderly mothers is anticipated to augment the postoperative usage of NPWT devices. Furthermore, the rising usage of simplified single-use devices is likely to contribute to market growth in the coming years. On the other hand, the higher cost of negative global pressure wound therapy in comparison to conventional wound therapy and a shortage of trained healthcare professionals are likely to hamper the market growth over the evaluation period.
Key Players:
The key market players acknowledged in the global NPWT market are ACELITY L. P. Inc., ConvaTec Group Plc., Cardinal Health, DeRoyal Industries, Inc., Genadyne, Lohmann & Rauscher International GmbH & Co. Kg, Talley Group, Medela, Mölnlycke Health Care AB, and Smith & Nephew.
Segmental Analysis:
The global negative pressure wound therapy market is segmented based on product type, wound type, and end-user.
The products available in the NPWT market are conventional negative pressure wound therapy devices, and single-use negative pressure wound therapy devices and accessories. The conventional segment is likely to register the largest market share owing to the capability of conventional negative pressure wound therapy devices to administer severe wound exudates. Moreover, the single-use NPWT devices segment is likely to be the fastest-growing segment over the review period.
The wounds that can be treated by NPW therapy are burns, surgical and traumatic wounds, and ulcers. The ulcers segment has been sub-segmented into diabetic foot ulcers, pressure ulcers, venous ulcers, and others.
The end-users of the NPWT market are home care settings, hospitals, and others.
Regional Analysis:
Based on the region, the global NPWT market has been segmented into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.
the Americas (North America and South America) region accounts for the largest market share of the global negative pressure wound therapy market and is likely to retain its dominant market share over the review period, owing to a well-established healthcare sector, rising occurrence of chronic wounds, increasing prevalence of diabetes and obesity, along with the increasing geriatric population.
Europe is expected to hold the second-largest market share in the global negative pressure wound therapy market over the review period. The substantial market growth in this region is attributed to the rising number of accidents and the increasing prevalence of diabetes and obesity, coupled with an established healthcare sector and developed infrastructure.
The Asia Pacific region is anticipated to be fastest-growing region owing to the large patient population suffering from severe chronic diseases such as cardiovascular diseases, diabetes, among others, in countries such as India and China. Moreover, the market is also driven by the higher rates of burns and injury cases and growing development initiatives by the government towards the healthcare sector in the majority of countries in the Asia-Pacific region.
The Middle East and Africa are expected to register the smallest market share over the review period. The slow growth of the market in this region is attributable to the weak healthcare sector, low penetration of advanced medical technologies, and lack of skilled workforce in Africa. The middle east is expected to account for the majority of the market share due to a developing healthcare sector and growing initiatives by the government towards the advancement of the healthcare sector.
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