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iCrowdNewswire Jan 26, 2021 2:00 AM ET

Negative Pressure Wound Therapy Market Dynamics, Future Insights, Share Value, Growth Outlook, COVID-19 Impact and Size Projection By 2023


Negative Pressure Wound Therapy Market Dynamics, Future Insights, Share Value, Growth Outlook, COVID-19 Impact and Size Projection By 2023

iCrowd Newswire - Jan 26, 2021

Negative Pressure Wound Therapy Market Outlook

Factors such as the growing prevalence of chronic diseases such as diabetes and obesity, increased casualty rates due to injuries and accidents, and large expenditure on chronic and surgical wounds is expected to fuel the growth of the industry. According to the Centers for Disease Control and Prevention (CDC), approximately 2.8 million people were treated for injuries in 2015. In addition, the rising incidence of cesarean sections in elderly mothers is projected to increase the postoperative usage of NPWT devices. Moreover, the growing usage of simpler single-use devices is expected to contribute to the growth of the negative pressure wound therapy industry. However, the high cost of such treatment over traditional wound therapy and the shortage of qualified healthcare professionals can impede market growth over the forecast period.

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Negative Pressure Wound Therapy Market Highlights

Negative pressure wound therapy (NPWT) is a sealed wound care system and is primarily recommended for large chronic recurrent wounds and complicated acute wounds. The system comprises an electronically operated pump and a foam dressing, which drains the wound. Negative pressure is applied across the wounds in this therapy to promote healing.

According to Market Research Future (MRFR), the global negative pressure wound therapy (NPWT) market is expected to expand significantly over the forecast period. The industry had a market size of USD 2.24 billion in 2017 and is estimated to experience a CAGR of 6.7% by 2023.

Negative Pressure Wound Therapy Market Key Players

Lohmann & Rauscher International GmbH & Co. Kg, ACELITY L. P. Inc., ConvaTec Group Plc., Smith & Nephew, Medela, Cardinal Health, Talley Group, Genadyne, Mölnlycke Health Care AB, and DeRoyal Industries, Inc. are some of the key players in the global negative pressure wound therapy market.

Negative Pressure Wound Therapy Market Segmentation

The global negative pressure wound therapy market is segmented by product type, wound type, and end-user.

Types of products include single-use negative pressure wound therapy devices, conventional negative pressure wound therapy devices, and accessories. In 2017, the conventional segment accounted for the largest share of the global market. The segment can expand due to the ability of conventional negative pressure wound therapy products to treat extreme wound exudates. In addition, the single-use negative pressure wound therapy market is projected to be the fastest-growing market based on the product type.

By type of wounds, the market has been segmented into surgical and traumatic wounds, ulcers, and burns. The classification of ulcers was further segmented into diabetic foot ulcers, venous ulcers, pressure ulcers, and others.

The market was segmented by end-users into hospitals, home care facilities, and others.

The global negative pressure wound therapy market looks at regions of the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa.

Geographically, the Americas are projected to dominate the global market for negative pressure wound therapy due to the increasing numbers of the geriatric population, increasing prevalence of diabetes, well-developed health care sector, and increasing occurrences of chronic wounds. According to the National Diabetes Statistics Report, nearly 30.3 million Americans were diagnosed with diabetes in 2017. Additionally, the region’s favorable reimbursement scenario is expected to improve NPWT system adoption.

Europe is expected to hold the second spot in the global market for negative pressure wound therapy. The massive growth spurt in this region is attributed to the increasing number of accidents, high cases of diabetes, and development of the healthcare infrastructure. According to Eurostat, around 161 thousand people died in accidents in the European Union in 2015.

The negative pressure wound therapy market in the APAC region looks at the country-level analysis of Australia, China, Japan, the Republic of Korea, India, and the rest of APAC. The APAC is expected to be the fastest-growing region due to the large patient population of chronic diseases such as diabetes in India and China, high rates of burns and injuries, and increasing developments in the healthcare sector in the majority of countries in the region. According to the World Health Organization (WHO), more than 1 million people in India burn moderately or severely every year.

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The Middle East and Africa has the lowest market share. The majority of the market in this region is expected to be held by the Middle Eastern region owing to a well-developed healthcare sector and growing government initiatives in the healthcare sector.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact Information:

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Market Research Future
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