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Revenues from Disposable Negative Pressure Wound Therapy Devices Market a CAGR of 10.6% by 2027

12-24-2018 02:04 PM CET | Health & Medicine

Press release from: Future Market Insights

Revenues from Disposable Negative Pressure Wound Therapy

In the report published by Future Market Insights titled “Disposable Negative Pressure Wound Therapy Devices Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)”, it has been stated that the development around the globe in the last couple of years reflected certain complexities and fissures related to the political environment across many countries. As protectionists are threatening to penetrate the notions of free-trade, globalization is likely to face its most difficult test ever. The threat of populist policies disrupting the decades-old trade agreements have grown bigger as the social and cultural rift between the bourgeoisie and proletariat is deepening with time.

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While the preceding decades were marked by unison and formation of economic blocks, disintegration has been the story of the recent past. Although the business climate is far from favorable for organizations who have interest in multiple countries, the prevailing encounters have also obligated that corporate social responsibility becomes more than just a formality and companies actually demonstrate that they contribute to the societies they operate in. There is a dire need for companies to participate in discussions and debates that will eventually lead to policy formulations. Owing to these circumstances the global disposable negative pressure wound therapy devices market is anticipated to witness a CAGR of 10.6% over the forecast period of 2017 and 2027.

Cost Control Measures and Rising Healthcare Expenditure to Bode Well for the Market

The adoption rate of disposable NPWT devices is rising in developed nations such as the U.K., Germany, and the U.S., due to the obligation of healthcare burden across these countries owing to the growing prevalence of chronic wounds. According to an article on Wound Practice and Research, the healthcare expenditure for chronic wounds of 6.5 Mn patients accounts for over US$ 25 Bn per year in the U.S. Other research studies have also indicated that among chronic wounds, venous insufficiency ulcers constitute approximately 50% of the chronic leg ulcers. These wounds result due to venous etiology. Annual prevalence of venous insufficiency ulcers in those aged 65 and above has been estimated to be near to 2 in every 100 persons per year. Prevalence of pressure ulcers varies between 0.31% and 0.70% per year in the United States. Such cases are likely to boost the demand for disposable NPWT in the years to come.

Moreover, the growing focus on the expenditure pertaining to healthcare across developed as well as developing nations is expected to drive the adoption high quality patient care treatment options across the globe. This has also led to the rise in the per capita healthcare expenditure owing to the rising disposable income of people across the globe. This, is further expected to fuel the demand for wound care therapy and also increase the adoption of disposable NPWT devices in the course of the forecast period.

North America to Lead Among All Regions

North America is expected to stay on the vanguard during the forecast period in the global disposable NPWT devices market with a share of 51.1% in the overall market. The U.S. is expected to emerge as the most lucrative nation in North America closely trailed by Western Europe and Asia Pacific excluding Japan. Based on product type, the market has been bifurcated into disposable NPWT with canister and disposable NPWT without canister. On the basis of end user, the market has been segmented into hospitals, clinics, and homecare settings.

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Market Players to Concentrate on Product Differentiation

The top players in the market are focusing on product differentiation and expansion of consumer base in order to retain their position in the market. The leading players accounted for over 77% of the global market share in 2016. The players are Acelity (Kinetic Concepts, Inc.), Cardinal Health Inc., Smith and Nephew PLC., ConvaTec Inc., and Medela.

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About Us

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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