A recent report published by Infinium Global Research on negative pressure wound therapy market provides in depth analysis of segments and sub-segments in global as well as regional negative pressure wound therapy market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional negative pressure wound therapy market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global negative pressure wound therapy market. According to report the global negative pressure wound therapy market is projected to grow at a CAGR of 3.5% over the forecast period of 2017-2023. 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. This NPWT device 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.
Figure 1: Global Negative Pressure Wound Therapy Market by Value 2015-2023
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.
The report on global negative pressure wound therapy market covers segments such as, type of device, wound type and end use. On the basis of type of device the global negative pressure wound therapy market is categorized into standard NPWT devices and single-use NPWT devices. On the basis of wound type the global negative pressure wound therapy market is categorized into diabetic foot ulcers, venous leg ulcers, pressure ulcers, burn wounds and others. On the basis of end use the global negative pressure wound therapy market is categorized into hospitals, outpatient surgery centers and homecare setting.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023.
Figure 2: Global Negative Pressure Wound Therapy Market by Region, CAGR % 2017-2023
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.
The report provides profiles of the companies in the global negative pressure wound therapy market such as, Smith & Nephew, ConvaTec, Paul Hartmann, Acelity, Cardinal Health, Prospera, Medela AG, Devon Medical Inc., Lohmann & Rauscher and Molnlycke Health Care.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global negative pressure wound therapy market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of negative pressure wound therapy market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the negative pressure wound therapy market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the negative pressure wound therapy market to understand the present and future trends in this market and formulate their strategies accordingly.
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