Negative Pressure Wound Therapy (NPWT) Devices Market Forthcoming Developments, Business Opportunities & Future Investments Appraised By Global Players Smith & Nephew plc, Devon Medical, Paul Hartmann AG, Talley Group Limited

Treatment options for wounds includes application of topical medication, sutures, staples, adhesives, compression therapy, hyperbaric oxygen therapy, biological dressings, and negative pressure wound therapy (NPWT). Negative pressure wound therapy, also called vacuum-assisted wound closure, has gained significant traction over the last decade as it is equally effective in acute and chronic wounds. NPWT is a relatively non-invasive wound therapy and offers various pips other conventional treatment options by facilitating better healing, shorter hospital stay, and fewer wound infections.

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Market Dynamics

The primary benefits of NPWT such as elimination of edema, providing a moist wound-healing environment, and stimulating angiogenesis and blood flow to the wound is increasing its uptake. Moreover, the new guidelines outlined by the World Health Organization (WHO) in November 2016, recommends use of NPWT in closed-surgical incision in order to reduce risk of surgical site infection. The guidelines also recommends use of portable NPWT devices. Furthermore, increasing prevalence of diabetes (422 million sufferers until 2014, WHO) and increasing number of medical surgeries (312.9 million in 2012, WHO) is expected to drive the market for NPWT globally.

Key Players:

Key companies covered as a part of this study include Smith & Nephew plc, Devon Medical, Paul Hartmann AG, Talley Group Limited, Coloplast A/S, ConvaTec Inc., Molnlycke Health Care AB, Medela AG, Kinetic Concepts, Inc., and Cardinal Health, Inc.

Detailed Segmentation:

Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Device Type:
Standalone Devices
Single-use Devices
Portable Devices
Accessories

Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Application:
Diabetic Foot Ulcers
Venous Leg Ulcers
Pressure Ulcers
Burn Wounds
Others

Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Geography:
North America
Europe
Asia Pacific
Latin America
Middle East
Africa

Increasing Prevalence Of Chronic Wounds To Fuel The Demand In Global Negative Pressure Wound Therapy Devices Market

According to the American Diabetes Association (ADA), diabetic foot ulcers costs the public and private payers in the U.S. US$ 9 billion – US$ 13 billion annually, in addition to diabetes treatment costs. Moreover, a study published by the ADA in 2014 found that the incidence of diabetic foot ulcers in the U.S. was 3.8% among the Medicare insured diabetic patients and 5.0% among privately insured diabetic patients. A study published in the Indian Journal of Health Sciences and Biomedical Research in 2015 revealed the prevalence of foot ulcers among diabetic patients in India to be 3%. With over 420 million diabetic patients globally (WHO, 2016), prevalence of 3% - 5% amounts to a sizeable population, highlighting the underlying potential of NPWT devices.

Moreover, with increasing age, prevalence of leg ulcers and other chronic wounds is also expected to increase. Although there is less prevalence of venous leg ulcer, treatment cost of this ulcer remains a burden on the economy. For instance, in U.K., prevalence of venous leg ulcers was 0.1%-0.3%, however, treatment costs was US$ 506 – US$ 760 million annually.

The treatment cost of chronic wounds can be reduced to a large extent by utilizing NPWT, as the frequency of change in dressings reduces and the device can serve for up to a month of therapy duration. This is expected to drive growth of the negative pressure wound therapy devices market over the forecast period.

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Utilization Of New Technologies To Improve Clinical Outcomes To Favor The Manufacturers In The Global Negative Pressure Wound Therapy Devices Market

Connate Group plc, launched Avelle system, its first NPWT device, in August 2016. This device is based on a proprietary AQUACEL technology that prevents periwound maceration and is a canister-less disposable system with a 30 day usability period. Smith & Nephew plc, received the 2016 French Galien award for its PICO NPWT device. PICO being a single-use NPWT device, significantly reduces overall cost of treatment and the care needed for individual patients with chronic wound compared to conventional wound therapies (sutures, dressings, etc.). Such technologies with improved patient outcomes provides a competitive advantage to marketers of NPWT device and gain share in the global negative pressure wound therapy devices market.

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