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Europe Negative Pressure Wound Therapy Devices Market Gathering To Reach USD 1,158.8 Million By 2024 With Players Like Acelity L.P., Smith and Nephew and Molyncke and Many More
Europe Negative Pressure Wound Therapy Devices Market
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The major factors driving the growth of this market are rising aging and geriatric population and technological advancement in negative pressure wound therapy devices increased number of surgical procedures, government support for promoting negative pressure wound therapy rising incidence of diabetes. On the other hand, high cost of products and availability of substitute products hinders the market growth.
Market Segmentation: Europe Negative Pressure Wound Therapy Devices Market
Europe negative pressure wound therapy devices market is segmented on the basis of product type, wound type, end user and distribution channel. On the basis of product type, the EU negative pressure wound therapy devices market is segmented into stand-alone negative-pressure wound therapy devices, portable negative-pressure wound therapy devices and disposable negative-pressure wound therapy devices. In 2017, standalone negative pressure wound therapy devices segment is expected to dominate the EU negative pressure wound therapy devices market with 52.2% market share and is expected to reach USD 504.0 million by 2024, growing with a CAGR of 1.1% in the forecast period 2017 to 2024.
On the basis of wound type, EU negative pressure wound therapy devices market is segmented into surgical wound, diabetic ulcers, burns, pressure ulcers, venous ulcers and others. In 2017, surgical wound is expected to dominate the Europe negative pressure wound therapy devices market with 36.3% market share and is expected to reach USD 403.1 million by 2024, growing with a CAGR of 3.2% in the forecast period 2017 to 2024.
On the basis of end-user, Europe negative pressure wound therapy devices market is segmented into hospitals, wound care centres, ambulatory centres, home healthcare, clinics and community healthcare. In 2017, hospital is expected to dominate the EU negative pressure wound therapy devices market with 42.0% market share and is expected to reach USD 444.4 million by 2024, growing with a CAGR of 2.5% in the forecast period 2017 to 2024.
On the basis of distribution channel, Europe negative pressure wound therapy devices market is segmented into direct tenders and distributor & retails. In 2017, direct tenders is expected to dominate the EU negative pressure wound therapy devices market with 83.3% market share and is expected to reach USD 999.7 million by 2024, growing with the highest CAGR of 4.3% in the forecast period 2017 to 2024.
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Key Drivers: Europe Negative Pressure Wound Therapy Devices Market
The major factors driving the growth of this market is rising aging and geriatric population and technological advancement in negative pressure wound therapy devices products, increased number of surgical procedures, government support for promoting negative pressure wound therapy, rising incidence of diabetes.
Key Points: Europe Negative Pressure Wound Therapy Devices Market
Europe negative pressure wound therapy devices market is dominated by Acelity L.P. Inc., followed by Smith and Nephew and Molyncke Healthcare.
Stand-alone negative pressure wound therapy devices segment is expected to dominate the Europe negative pressure wound therapy devices market.
The negative pressure wound therapy devices market in Europe region is leading in Germany, France, Italy and U.K. Germany accounts for the highest market share in this region.
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