Negative pressure wound therapy devices market was valued at $2 billion in 2019, and is expected to reach $3 billion by 2027, registering a CAGR of 5.7%
PORTLAND, OREGON, UNITED STATES, April 1, 2022 /EINPresswire.com/ — Rapidly aging population, increase in incidences of chronic conditions, technological advancements in NPWT devices to deal with complex wounds, and surge in awareness to reduce healthcare costs drive the growth of the global negative pressure wound therapy devices market. On the other hand, complications related to NPWT impede the growth to some extent. However, increased focus toward advanced treatment protocols and significant unmet needs in wound care are expected to create multiple opportunities in the industry.
According to the report published by Allied Market Research, the global negative pressure wound therapy devices market size accounted for $2,144 million in 2020, and is expected to reach $3,347 million by 2027, registering a CAGR of 5.7% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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The outbreak of the pandemic has made people more cautious about several health measures. And, growing prevalence of chronic diseases such as diabetes & obesity and mounting use of single use devices have boosted the negative pressure wound therapy devices market.
Still, disruptions in the supply chain are likely to hamper the market to certain extent.
However, the industry is quite likely to benefit from the growing awareness about healthcare.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “Demand for negative pressure wound therapy devices is on the rise, owing to surge in prevalence of various chronic diseases such as diabetes, which lead to wound formation. Furthermore, surge in adoption of novel and advanced single use NPWT devices is another factor that fuels the market growth.”
NPWT, also known as vacuum-assisted wound closure therapy, involves the application of sub atmospheric pressure to heal acute and chronic wounds. NPWT devices are available in a variety of shapes and sizes to match the body contour of a patient and the size of the wound to be treated. These devices consist of a vacuum pump, drainage tubing, and a dressing set, which promote wound healing, reduce recurrent use of dressings, provide efficient option for management of closed surgical incision lines, and improves patient well-being.
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North America to rule the roost in terms of revenue-
Based on region, North America garnered the major share in 2019, holding around two-fifths of the global negative pressure wound therapy devices market. This is due to the presence of key players in the region, easy availability of NPWT devices, surge in prevalence of medical conditions leading to acute and chronic wounds, and rise in launch of new and advanced products. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 7.9% till 2027. This is attributed to factors such as surge in adoption of NPWT devices and rise in healthcare expenditure.
Key players in the industry-
ATMOS MedizinTechnik GmbH & Co. KG
Talley group Ltd.
Smith & Nephew Plc.
DeRoyal Industries, Inc.
Devon International Group,
3M (Acelity L.P. Inc.,)
Investor AB (Mölnlycke Health Care AB)
ConvaTec Group Plc.
Olle Larsson Holding AG (Medela AG)
Allied Analytics LLP
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originally published at Health - Trend Magazine