Strategic Innovations in Negative Pressure Wound Therapy Devices Market Outreaches $2,948 million at a CAGR of 3.5% by 2025

Negative pressure wound therapy (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 the patient and the size of wound to be treated. These devices consist of a vacuum pump, drainage tubing, and dressing set, which promote wound healing, reduce recurrent use of dressings, provide an efficient option for management of closed surgical incision lines, and improve patient well-being.

According to a new report published by Allied Market Research, titled, Negative Pressure Wound Therapy (NPWT) Devices Market, by Product, Wound Type, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025," the market was valued at $2,202 million in 2017, and is projected to reach $2,948 million by 2025, registering a CAGR of 3.5% from 2018 to 2025.

Increase in the incidence rate of chronic diseases such as diabetes mellitus & obesity and rise in the global geriatric population are expected to fuel the growth of the global NPWT devices market. In addition, innovations in wound care products, such as introduction of single-use and portable NPWT devices, drive the market growth. Moreover, development of cost-effective NPWT devices and rise in awareness among patients regarding wound care are expected to boost the market growth. However, unnoticed complications with the use of these devices and dearth of trained healthcare providers hamper the market growth. Conversely, high market potential in the untapped emerging economies, increased focus on improvement of treatment protocols, and significant unmet needs in the wound care field are expected to provide potential growth opportunities during the forecast period.

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By wound type, the chronic wound segment is projected to grow at the highest CAGR, owing to increase in incidence of chronic diseases such as diabetes mellitus. Among chronic wounds, the diabetic foot ulcer segment has been growing at a fast pace, and this trend is projected to continue throughout the forecast period. In case of acute wounds, the surgical wound segment is estimated to register the highest growth rate, owing to increase in prevalence of surgical wounds. Based on end user, the hospital & clinic segment occupied a major share of the NPWT devices market, as it provides better healing of transplanted skins and the possibility of infection in case of patients with open wounds is less. The home care setting segment is expected to be the dominant end-user segment, growing at a high CAGR.

Among the NPWT devices, the conventional NPWT device segment generated the highest revenue in the global market, owing to the ability of these devices to heal various wounds. The single-use NPWT device segment is projected to grow at the highest CAGR, owing to the advantages associated with these devices, such as lightweight nature, better reimbursement insurance, and advanced dressing options.

North America accounted for a major share in the global NPWT devices market in 2017 and is expected to maintain this trend throughout the forecast period. This is attributed to the rise in incidence of chronic wounds, increase in awareness among patients toward cost-effective NPWT devices, and availability of advanced healthcare facilities in North American countries. However, Asia-Pacific is expected to grow at the fastest rate, owing to ample growth opportunities in terms of unmet medical needs for the treatment of burns and surgical wounds and upsurge in prevalence of chronic diseases such as diabetes mellitus.

Top key Players :

• Acelity L.P. Inc.
• Smith & Nephew plc
• ConvaTec Group plc
• Mölnlycke Health Care AB
• Cardinal Health
• Medela AG
• Devon International Group (Devon Medical Products)
• ATMOS MedizinTechnik GmbH & Co. KG
• Talley Group Ltd.
• DeRoyal Industries Inc.

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