Negative-pressure Wound Therapy (NPWT) Devices Market to Flourish with an Impressive CAGR by 2026
Transparency Market Research (TMR) has published a new report titled, “Global Negative-pressure wound therapy devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global negative-pressure wound therapy devices market was valued at US$ 2,985 Mn in 2017. It is projected to expand at a CAGR of 9.6% from 2018 to 2026. Increase in prevalence of chronic and acute wounds and obesity & diabetes is anticipated to augment the global market between 2018 and 2026.
NPWT refers to the application of negative-pressure across a wound. The area is sealed with an adhesive film, and the pump delivers a controlled negative-pressure across the wound bed. Negative-pressure wound therapy devices comprise products such as single-use NPWT devices and conventional NPWT devices. Increase in the prevalence of chronic and acute wounds and obesity & diabetes is expected to propel the global market for negative-pressure wound therapy devices. Additionally, favorable reimbursement policies are likely to propel the global negative-pressure wound therapy devices market. However, availability of alternative method is anticipated to restrain the global market. Moreover, the high cost of negative-pressure technique is a major factor restraining the market.
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The report offers detailed segmentation of the global negative-pressure wound therapy devices market based on product, application, and end-user. The market has also been segmented based on region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Favorable reimbursement policies and increase in prevalence of chronic and acute wounds is likely to drive the global negative-pressure wound therapy devices market.
Conventional negative-pressure wound therapy devices segment to account for leading share, while single-use Negative-pressure wound therapy devices segment to expand significantly
In terms of product, the conventional negative-pressure wound therapy devices segment accounted for a leading share of the global market in 2017. It is anticipated to maintain its leading position in the market during the forecast period. Increase in prevalence of obesity & diabetes across the globe is projected to boost the segment during the forecast period. Increase in demand for negative-pressure wound therapy devices, due to inclination toward minimally invasive procedures, is a key factor that is anticipated to drive the market during the forecast period.
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Emerging technologies in portable negative-pressure wound therapy devices to propel market
Emerging technologies in negative-pressure wound therapy devices are projected to boost the global negative-pressure wound therapy devices market during the forecast period. NPWT may decrease tissue oxygenation in the wound bed because the foam sponge of NPWT compresses the wound bed under the influence of the applied negative-pressure. The availability of portable and disposable NPWT devices are expected to boost the market. Digital monitoring and display also positively affects the demand of the product leading to the hike in the growth. Remote controlled mechanisms are also innovated which also helps to propel the market growth.
North America to be highly lucrative negative-pressure wound therapy devices market
North America has a large number of negative-pressure wound therapy devices approved for the treatment of various chronic and acute wounds through NPWT. In the U.S., significant increase in prevalence of acute and chronic injuries is likely to propel the share held by the region in the global market during the forecast period. Additionally, product launches and approval for negative-pressure wound therapy devices are anticipated to drive the market in the region.
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Product launches by key players and patent approvals to boost market
The report also provides profiles of leading players operating in the global negative-pressure wound therapy devices market. These include SMITH AND NEPHEW, KCI (ACELITY), Cardinal Health, PAUL HARTMANN, ConvaTec Inc., DeRoyal, Genadyne Biotechnologies, Inc., Medela, Inc. ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Ltd, and Lohmann & Rauscher. Launch of new products, focus on development of technologically advanced products by companies, and product approvals are expected to drive the global market during the forecast period. In May 2011, SMITH AND NEPHEW launched a new device PICO- single-use NPWT device for wound management in Negative-pressure wound therapy devices system.
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