“Rise in incidences of neurological disorders and increase in number of VR-based startups drive the growth of the global negative pressure wound therapy (NPWT) devices market.”
The global negative pressure wound therapy (NPWT) devices market garnered $2.14 billion in 2020, and is expected to generate $3.34 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, top player positioning, major segments, and competitive heat map.
Rise in incidences of neurological disorders and increase in number of VR-based startups drive the growth of the global negative pressure wound therapy (NPWT) devices market. However, data privacy concerns of the users hinder the market growth. On the other hand, rise in use of VR in dentistry and cancer therapies create new opportunities in the coming years.
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- Surge in use of single use devices increased the demand for negative pressure wound therapy devices. Manufacturing of the devices has been hampered up to certain extent.
- However, supply chain in NPWT devices has been impacted badly during the coronavirus pandemic.
The report offers a detailed segmentation of the global negative pressure wound therapy (NPWT) devices market based on product, wound type, and region.
Based on product, the majority of share was contributed by the conventional NPWT devices segment, accounting for more than three-fourths of the total share in 2019, and is expected to maintain the its dominance from 2020 to 2027. However, the single use NPWT devices segment is estimated to portray the highest CAGR of 7.1% during the forecast period.
Based on wound type, the majority of share was contributed by chronic wounds segment. It accounted for nearly two-thirds of the total share in 2019, and is estimated to maintain its lead position during the forecast period. Furthermore, the same segment is expected to grow at the highest CAGR of 6.1% during the forecast period.
Based on region, North America will maintain its dominance throughout the forecast period and contributed the majority share, which is around two-fifths of the total market share, in 2019. However, Asia-Pacific is projected to grow at the largest CAGR of 7.9% during the forecast period.
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Frontrunners in the industry-
Devon International Group, ATMOS MedizinTechnik GmbH & Co. KG, 3M (Acelity L.P. Inc.,), Talley group Ltd., Investor AB (Mölnlycke Health Care AB), Cardinal Health., ConvaTec Group Plc., Smith & Nephew Plc., Olle Larsson Holding AG (Medela AG), and DeRoyal Industries, Inc.
Scope of The Report:
|Market size available for years||2020-2027|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Product, Application, and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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