Negative Pressure Wound Therapy Market – Global Industry Analysis, Size, Share, Trends and Forecast, 2014 – 2022
A Wound is generally defined as an injury to living tissue by a cut, blow or other impact, typically one in which the skin is broken. These wounds are basically classified as chronic and acute wounds. Among these, acute wound lasts for less than eight weeks in duration and follows normal stages of wound healing, whereas chronic wounds does not proceed through the normal healing stages and lasts for longer time.
Negative Pressure Wound Therapy Market - Global Industry Analysis, Size, Share, Trends and Forecast, 2014 – 2022
Fig. Negative Pressure Wound Therapy Market Projection
A Wound is generally defined as an injury to living tissue by a cut, blow or other impact, typically one in which the skin is broken. These wounds are basically classified as chronic and acute wounds. Among these, acute wound lasts for less than eight weeks in duration and follows normal stages of wound healing, whereas chronic wounds does not proceed through the normal healing stages and lasts for longer time. There are various factors which influence the development of chronic wounds, which includes age, diabetes, obesity, cancer, chemotherapy, poor nutrition, infection, chronic illness, etc.
The wound care market comprises two main segments, namely traditional wound dressings and advanced wound care products. Traditional wound dressings are extensively used by healthcare professional particularly under dry environment to protect wound from external factors. Advanced wound care products are used by specialist professionals to provide a therapeutic effect that supports wound healing. Based on type of technology used in wound healing process, these products are divided into moist wound care dressings, biologics, Negative Pressure Wound Therapy (NPWT) devices and other therapeutic devices. Among these, NPWT therapy has become a popular method of treating a large number of acute and chronic wounds over the past decade and developed as an important addition to the vast number of wound treatments available to the healthcare professionals. These NPWT devices applies suction and removes excess fluid from the wound bed through a tubing system attached to a canister with an objective to improve the wound environment and thereby promote healing. This therapy is also known as atmospheric pressure therapy and topic negative pressure therapy. The main NPWT device currently in use is the foam-based V.A.C. system developed by Acelity. The global market for NPWT devices was valued at USD 1.6 billion in 2015 and is expected to reach around USD 2.1 billion by 2022, growing at a CAGR of 3.8% during the forecast period of 2016 to 2022.
The principle driving factors fueling this market growth include rise in base of aging population, increasing demand in emerging markets, growing incidence of diabetes, increasing applications of NPWT devices and technological advancements. However, the lower pricing of devices due to increased competition globally, and reduction in reimbursements in the US and Europe could impact the market growth in the coming years. Thus, by considering above-mentioned factors, the market remains strong in the coming years with new product launches which can be used at patient’s home and increased demand for NPWT products.
Geographically, North America is leading contributor to the market and is expected to retain its position during the forecast period. Nonetheless, the market for Asia-Pacific region is expected to grow at a decent rate owing to increasing prevalence chronic diseases, growing awareness among the population, increasing adoption of new technologies, large number of new players entering into the market, improving healthcare infrastructure, rise in healthcare spending, and favorable government policies.
Smith & Nephew
Devon Medical Inc.
Lohmann & Rauscher
Molnlycke Health Care
The report delivers a strategic analysis of the global market for NPWT products and growth forecast for the period from 2016 – 2022. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of indication. It also covers geographical analysis of the market with growth forecast for the period of 2016 – 2022. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
The study also provides information for recent merger and acquisition deals happened in the global NPWT products market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global NPWT products market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook