Negative Pressure Wound Market Booming Wordwide | Smith & Nephew plc., 3M Company (ACELITY), Devon Medical

The global negative pressure wound therapy devices market was valued at US$ 1,989.8 million in 2018, and is projected to exhibit a robust CAGR of 6.5% during the forecast period (2019-2027).

Surging prevalence of chronic wounds is one of the most significnat factors expected to fuel the demand for negative pressure wound therapy devices in the global market. According to the report published by the American Diabetes Association (ADA) in 2014, the incidence rate of diabetic foot ulcers in the U.S. was found to be 3.8% among Medicare-insured diabetic patients, whereas, 5.0% among privately insured diabetic patients. Rising incidence of leg ulcers and other chronic wounds is further expected to propel the global market over the projected timeframe. According to the National Health Service (NHS), 24,674 patients were diagnosed with pressure ulcers in England between the years 2015 and 2016.

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Some of the Major Companies covered in this Research are Smith & Nephew plc., 3M Company (ACELITY), 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.

These market contenders are deeply focused on strategies, such as partnerships and acquisitions, to expand their product portfolio and reinforce their market positions. For instance, in December 2018, KCI entered a three-year group purchasing agreement for its negative pressure wound therapy (NPWT) line, with Vizient Inc., one of the largest member driven healthcare performance improvement companies in the U.S. The agreement is expected to increase accessibility of negative pressure wound therapy devices to Vizient members in the U.S.

Furthermore, ConvaTec Group Plc. received the 510(K) approval from the U.S. FDA in October 2018, for its brand-new Avelle Negative Pressure Wound Therapy system. In May 2019, 3M Company announced the acquisition of Acelity Inc., as well as its KCI subsidiaries. The acquisition apparently strengthened the company’s position in the global negative pressure wound therapy devices market.

Increasing prevalence of chronic wounds, such as pressure ulcers, diabetic foot ulcers, burn injuries, venous leg ulcers, and traumatic injuries, acts as a significant growth propeller for the global market. Moreover, there has been an upsurge in the number of diabetic foot ulcer cases over the past few years, majorly in the developing economies of the world, such as India. Hence, this is another aspect expected to fuel the global market growth in the foreseeable future. As reported by the International Diabetes Federation, around 73 million diabetes cases were reported in India in 2017.

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Table of Contents

Key Benefits:

• This study gives a detailed analysis of drivers and factors limiting the market expansion of Negative Pressure Wound Therapy (NPWT) Devices

• The micro-level analysis is conducted based on its product types, end-user applications, and geographies

• Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players

• By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Negative Pressure Wound Therapy (NPWT) Devices market

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