Negative Pressure Wound Therapy Market Global Projected to Generate Huge Profits by 2023 | By Product, Wound Type, & End-User

Negative Pressure Wound Therapy Market Global Projected to Generate Huge Profits by 2023 | By Product, Wound Type, & End-User

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The prominent players operating the global negative pressure wound therapy market are

  • Lohmann & Rauscher International GmbH & Co. Kg
  • Talley Group
  • Genadyne
  • Smith & Nephew
  • Medela
  • DeRoyal Industries Inc.
  • Mölnlycke Health Care AB (A Subsidiary of Investor AB)
  • ACELITY L. P. Inc.
  • Cardinal Health
  • and ConvaTec Group Plc.

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Negative Pressure Wound Therapy Market- Segmental Analysis

The global negative pressure wound therapy market has been segmented on the basis of wound type, product type, end-user, and region.

By mode of product type, the global negative pressure wound therapy market has been segmented into single-use negative pressure wound therapy devices, conventional negative pressure wound therapy devices, and accessories. Among these, the conventional segment is considered to account for the largest market share owing to the ability of conventional negative pressure wound therapy devices to manage severe wound exudates.

By mode of wound type, the global negative pressure wound therapy market has been segmented into ulcers, surgical and traumatic wounds, and burns. Among these, the ulcers segment has been further sub-segmented into venous ulcers, diabetic foot ulcers, pressure ulcers, and others. Surgical and traumatic wounds account for the largest market share owing to the increasing prevalence of such wounds coupled with an increasing spending on surgical and chronic wounds.

By mode of end-users, the global negative pressure wound therapy market has been segmented into home care settings, hospitals, and others. Among these, the hospitals segment is considered to account for the largest market share owing to the high number of surgeries performed in hospitals.

Negative Pressure Wound Therapy Market – Synopsis

NPWT, also known as negative-pressure wound therapy is referred to as a sealed wound-care system, majorly indicated for acute complicated wounds and large chronic persistent wounds. The system comprises a foam dressing and a controlled pump which drains out the wound. Negative pressure is applied around the wound which promotes healing. Such devices are used to manage chronic and acute wounds like venous ulcers, diabetic ulcers, pressure ulcers, arterial ulcers, and first- and second-degree burns. The therapy heals wound by applying vacuum through a sealed wound dressing. The vacuum further draws out the debris and fluid from the wound and helps to increases blood supply to the affected area.

Drivers and Constraints Impacting the Market

With rising prevalence of chronic diseases such as obesity and diabetes, increasing spending on surgical and chronic wounds, and growing causalities caused by accidents and trauma, the global negative pressure wound therapy is considered to propel during the forecast period. For instance, as per the Centers for Disease Control and Prevention, around 2.8 million people were hospitalized due to injuries in 2015. The augmenting rate of caesarean sections in elderly mothers is likely to accelerate the post-operative use of NPWT devices. Moreover, with the growing use of simplified single-use devices, the negative pressure wound therapy market is considered to propel during the forecast period. Additionally, the rise of hospitals with enhanced services for wound care is further anticipated to trigger the demand for NPWT across the globe.

On the flip side, the high cost associated with the therapy over conventional wound therapy coupled with a dearth of trained healthcare professionals are some of the major concerns anticipated to impede the market growth during the appraisal period. Also, absence of proof of clinical adequacy is predicted to restrict the market growth in the coming years.

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Industry Updates:

December 07, 2018: An Acelity Company, KCI has recently announced the launch of the V.A.C.RX4 Therapy System in the United States. The V.A.C.RX4 System has been initially developed at the request of the U.S. Department of Defense and U.S. Air Force in order to help the military personnel treat multiple battlefield wounds with a single negative pressure wound therapy.

Negative Pressure Wound Therapy Market – Regional Insights

Geographically, the Negative Pressure Wound Therapy Market span across regions namely, Europe, Americas, Asia-Pacific, and the Middle East and Africa.

Among all the regions, America is anticipated to Dominate the global negative pressure wound therapy market. The growth is attributed to the presence of well-developed healthcare sector, augmenting rate of accidents, increasing prevalence of diabetes, and rising expenditure of the healthcare sector.

The European region is presumed to account for the second largest position owing to the increasing prevalence of chronic diseases and accelerating occurrences of burn cases and accidents. The Asia-Pacific region is anticipated to exhibit the fastest growth rate due to the presence of a huge population base of diabetic patients coupled with the rising developments in the healthcare segment.

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