The global NPWT device market report includes an in-depth analysis of market players including Smith & Nephew plc, Acelity L.P., Inc., Mölnlycke Health Care AB, ConvaTec Group plc, Medela AG, Cardinal Health, ATMOS MedizinTechnik GmbH & Co. KG, Devon International Group (Devon Medical Products), DeRoyal Industries, Inc., and Talley Group Ltd.
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Rapidly aging population and favorable demographics across the globe, surge in incidence of chronic condition, technological advancement in NPWT devices to deal with complex, and increased awareness to reduce healthcare costs drive the growth of the global negative pressure wound therapy devices market.
As per the report published by Allied Market Research, the global negative pressure wound therapy (NPWT) was pegged at $2.20 billion in 2017 and is expected to reach $2.95 billion by 2025, growing at a CAGR of 3.5% from 2018 to 2025.
Rapidly aging population and favorable demographics across the globe, surge in incidence of chronic condition, technological advancement in NPWT devices to deal with complex, and increased awareness to reduce healthcare costs have boosted the growth of the global negative pressure wound therapy devices market. However, unnoticed complications of NPWT and the need for experienced caregivers hamper the market. On the contrary, increased focus toward advanced treatment protocols, significant unmet need in wound care, and potential in emerging markets are expected to create lucrative opportunities in the near future.
The global NPWT devices market is segmented on the basis of product, wound type, end user, and geography. Based on product, the market is divided into single-use NPWT devices and conventional NPWT devices. The conventional NPWT device segment held the largest share in the market, due to its ability to heal wounds. However, the single-use NPWT device segment is estimated to grow at the highest CAGR during the forecast period.
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On the basis of wound type, the market is categorized into chronic wounds and acute wounds. The chronic wound segment is estimated to manifest the fastest CAGR during the forecast period, owing to rise in the incidence of chronic diseases. However, the surgical wound segment is projected to portray remarkable growth.
Scope of the Report:
|Market size available for years||2017 – 2025|
|Base year considered||2018|
|Forecast period||2017 – 2025|
|Forecast units||Value (USD)|
|Segments covered||By Product, By Wound Type, End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
Based on end user, the market is divided into hospital & clinic, ambulatory surgical center, and home care setting. The home care setting segment is anticipated to portray the fastest CAGR during the forecast period. However, the hospital & clinic segment held the largest share in 2017, during the forecast period.
The global NPWT device market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to register the fastest CAGR during the study period. This is due to significant growth opportunities in terms of unmet medical needs for the treatment of burns and surgical wounds coupled with surge in prevalence of chronic diseases. On the contrary, the market across North America held the largest share in 2018.
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