(PharmaNewsWire.Com, November 27, 2021 ) According to the new market research report "Negative Pressure Wound Therapy Market by Type (Conventional, Disposable NPWT, Accessories, Rental & Sales Volume), Wound Type (Surgical, Traumatic, Diabetic Foot, Pressure, Venous Leg Ulcers), End-User (Hospital, Homecare) - Global Forecast to 2025", published by MarketsandMarkets™, the Negative Pressure Wound Therapy (NPWT) Market is projected to reach USD 3.2 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 6.1% during the forecast period.
The rising prevalence of diabetes, increasing spending on chronic and surgical wounds, government initiatives to prevent SSIs, and the high rate of cesarean sections in elderly mothers are the major factors driving the growth of the NPWT devices market. Also, emerging markets and the increasing sales of disposables and single-use consumables, are expected to offer growth opportunities for players operating in the NPWT devices market.
By product type, conventional NPWT devices segment is expected to account for the largest market share during the forecast period Based on products, the NPWT devices market is segmented into conventional NPWT devices, single-use NPWT devices, and accessories. In 2018, the conventional NPWT devices segment was expected to account for the largest market share during the forecast period. This segment is driven by the ability of conventional NPWT systems to manage severe wound exudates. However, high costs and the growing adoption of disposable NPWT devices are restraining market growth to a certain extent.
By wound type, the surgical & traumatic wounds segment is expected to dominate the negative pressure wound therapy market Based on wound type, the NPWT devices market is segmented into surgical & traumatic wounds, ulcers, and burns. In 2018, the surgical & traumatic wounds segment was expected to account for the largest share of the NPWT devices market. This growth can be attributed to the growing prevalence of surgical & traumatic wounds and increasing spending on chronic and surgical wounds.
North America to command the negative wound pressure market during the forecast period Based on region, the NPWT devices market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2017, North America commanded the largest share of the NPWT devices market. The large share of this market segment can be attributed to the increasing incidence of chronic wounds and diabetes and rising geriatric population. In addition to this, a favorable reimbursement scenario is expected to increase the adoption of NPWT devices in this regional segment.
The major players operating in this market are Acelity (US), Smith & Nephew (UK), Mölnlycke Health Care AB (Sweden), Cardinal Health (US), ConvaTec (UK), DeRoyal (US), Lohmann & Rauscher (German), Talley Group (UK), Medela (Switzerland), and Genadyne (US).
Recent Developments - In July 2018, Acelity launched ABTHERA ADVANCE, an open abdomen dressing, in the US - In February 2018, Smith & Nephew launched PICO 7 in Europe - In August 2016, ConvaTec launched its first system to enter the NPWT devices market
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including: