Development in medical knowledge is creating an impetus for the considerable market growth of negative pressure wound therapy. Market reports associated with the healthcare industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to develop at a CAGR of 6.7% approximately through the forecast period.
In certain cases, wound healing does not occur naturally, in these cases negative pressure wound therapy helps to address the situation effectively. The market is found to be furthered due to the rising incidence of chronic diseases such as diabetes and obesity. The escalating number of trauma cases in ORs as well as of civilians living in unstable regions is increasing the need for spread of the market and economizing the offerings of the market.
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Market Segmentation
The MRFR report provides a complete segmental analysis of the negative
pressure wound therapy market report on the basis of end user, wound type,
and product type.
Based on product type, the negative pressure wound therapy market is segmented into accessories, single-use negative pressure wound therapy devices, and conventional negative pressure wound therapy devices. Of these, the conventional negative pressure wound therapy devices will have the largest share in the market over the forecast period. This is owing to its effectiveness to handle huge amounts of exudates.
Based on wound type, the negative pressure wound therapy market is segmented
into burns, ulcers, and surgical and traumatic wounds. The ulcers segment is
again segmented into pressure ulcers, foot ulcers, venous ulcers, and others.
Of these, the surgical and traumatic wounds segment will dominate the market
over the forecast period. This is on account of the increasing expenditure on
surgical and chronic wounds and increasing prevalence of surgical and traumatic
wounds.
Based on end use, the negative pressure wound therapy market is segmented into home care settings, hospitals, and others. Of these, the hospitals segment will lead the market over the forecast period. This is owing to the critical role of negative pressure wound therapy in wound care coupled with the easy accessibility of advanced negative pressure wound therapy systems, especially in hospitals.
Regional Analysis
Based on the region, the global NPWT market has been segmented into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.
the Americas (North America and South America) region accounts for the largest market share of the global negative pressure wound therapy market and is likely to retain its dominant market share over the review period, owing to a well-established healthcare sector, rising occurrence of chronic wounds, increasing prevalence of diabetes and obesity, along with the increasing geriatric population.
Europe is expected to hold the second-largest market share in the global negative pressure wound therapy market over the review period. The substantial market growth in this region is attributed to the rising number of accidents and the increasing prevalence of diabetes and obesity, coupled with an established healthcare sector and developed infrastructure.
The Asia Pacific region is anticipated to be fastest-growing region owing to the large patient population suffering from severe chronic diseases such as cardiovascular diseases, diabetes, among others, in countries such as India and China. Moreover, the market is also driven by the higher rates of burns and injury cases and growing development initiatives by the government towards the healthcare sector in the majority of countries in the Asia-Pacific region.
The Middle East and Africa are expected to register the smallest market share over the review period. The slow growth of the market in this region is attributable to the weak healthcare sector, low penetration of advanced medical technologies, and lack of skilled workforce in Africa. The middle east is expected to account for the majority of the market share due to a developing healthcare sector and growing initiatives by the government towards the advancement of the healthcare sector.
Competitive Analysis:
Some of the major companies in the global negative pressure wound therapy (NPWT) market include Cardinal Health, ACELITY L. P. Inc., ConvaTec Group Plc., Smith & Nephew, DeRoyal Industries, Inc., Lohmann & Rauscher International GmbH & Co. Kg, Medela, Talley Group, Genadyne, and Mölnlycke Health Care AB (A Subsidiary of Investor AB).
Key Players
Leading players profiled in the negative pressure wound therapy market report include Cardinal Health, DeRoyal Industries Inc, Lohmann & Rauscher International GmbH & Co. KG, Medela, Molnlycke Health Care AB, Genadyne, Talley Group, Smith & Nephew, ConvaTec Group plc, Acelity L.P. Inc., and others
September 2019: Leading medical technology business, Smith+Nephew has announced the launch of its new PICO 7Y Negative Pressure Wound Therapy System of single use in the US with AIRLOCK technology. This is the first-ever single use Negative Pressure Wound Therapy pump that will include an integrated Y connector that will allow the use of two dressings simultaneously from one pump, thereby allowing for two incisions or wounds to be addressed at the same time. It will be ideal to use on various wound types, including acute and chronic wounds, and closed surgical incisions.
Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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