January 23, 2020
According to the research report titled ‘Negative Pressure Wound Therapy Market Size By Type (Single-use, Conventional), By Wound Type (Diabetic Wounds, Skin Burns, Pressure Wounds, Surgical Wounds, Venous Legs Wounds), End-Use (Hospitals, Homecare Settings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Netherlands, Belgium, Austria, Japan, India, China, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Qatar, Kuwait), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global negative pressure wound therapy (NPWT) market is expected to cross USD 2.5 billion by the year 2025.
According to the report, rising frequency of accidents and trauma is a major factor driving the negative pressure wound therapy market growth. Negative pressure wound therapy is a type of non-invasive treatment method which consists of applying vacuum on wound for treating severe tissue injuries. This type of therapy offers convenience and allows quick recovery from severe wounds, thereby aiding the market expansion.
Increasing utilization of negative pressure wound therapy across various surgeries including maxillofacial surgeries are stimulating the industry outlook. Moreover, this type of treatment is used extensively in treating cervicofacial infectious diseases and oncological-reconstructive surgeries. Rising number of surgeries are therefore contributing towards the popularity of negative pressure wound therapy across the globe. However, complications pertaining to negative pressure wound therapy may hinder the market growth.
As per type, conventional negative pressure wound therapy devices segment is expected to grow with a CAGR of 5.5 % during the period of 2019-2025. Conventional NPWT device are cost effective, immobile and larger in size as compared to single-use negative pressure wound therapy devices. Moreover, conventional devices are widely used in public hospitals and hence provide low cost treatment options. On the other hand, single use NPWT devices segment is poised to amass commendable gains in the ensuing years.
In terms of wound type, diabetic wound segments held 15.7% share in the negative pressure wound therapy market in the year 2018. High occurrence rate of diabetes has compelled key industry players to develop innovative NPWT devices in order to meet the patient demands. Increasing awareness pertaining to advantages of negative pressure wound therapy for treating complex DFUs are favoring the market growth.
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Citing end-use landscape, homecare settings segment is presumed to expand with 7.5% CAGR through 2025. Patient friendliness and convenience offered by NPWT devices are facilitating the business scenario.
Considering geographical landscape, Asia-Pacific negative pressure wound therapy industry accounted for 14.5% share in the year 2018. Rising frequency of diabetes are fueling the demand for NPWT devices across the region.
The prominent companies operating in the negative pressure wound therapy market are Smith & Nephew Inc., Sanoma Pharmaceuticals, Medela Inc., Invacare Corporation, Genadyne Biotechnologies Inc., DeRoyal, Cork Medical, ConvaTec, Cardinal Health, and Acelity.
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