The next 10 years to see the NPWT Devices And Dressings Market thrive on digitized sidekicks at a CAGR of 7.7%

The NPWT Devices And Dressings Market is expected to climb up the ladder of persistence in the next decade. With various healthcare apps on the anvil, there are also mindfulness apps being tabled. They fall in the category of "Wellness apps". With the world wishing for the post-Covid era to function smoothly, these wellness apps are expected to take the healthcare vertical by storm further.

The US$ 1991.5 Mn global negative pressure wound therapy (NPWT) devices and dressings market is projected for promising growth over the next 10 years. The global sales of NPWT devices and dressings are likely to expand at a healthy CAGR of 7.1% and reach a value of over US$ 3963 Mn by the end of 2027.

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According to Persistence Market Research, developing countries hold a greater growth potential, attributed to exploding population and higher instances of diabetic ulcers. While government and private investments in healthcare are boosting since the recent past, the number of healthcare facilities is growing as well. Besides diabetes, there are a few other diseases that are identified to generate decent demand for NPWT devices and dressings, including autoimmune diseases and a range of chronic illnesses.

Company Profiles:

Avery Dennison Corporation
Cardinal Health
Smith & Nephew, Inc.
Mölnlycke Health Care
Medela
Devon Medical Products
Acelity (Kinetic Concepts, Inc.)
ConvaTec Inc.
PAUL HARTMANN

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In addition, better response rate has been registered owing to improving awareness among consumers as well as practitioners across developing economies. Increasing need for low cost treatment options in emerging countries can be potentially fulfilled by cost-effective treatment alternatives by NPWT, resulting in growing adoption in developing markets. Fostering popularity of disposable and portable devices owing to their convenience and technological advantages, is likely to drive the consumption of NPWT devices and dressings during the forecast period.

With surging adoption of homecare settings, consumers in developing regions are increasingly realizing that despite expensive initial installation price, NPWT offers relatively cheaper and more effective therapy. Persistence Market Research projects significant hike in sales of portable and disposable NPWT devices over the forecast period. Moreover, NPWT with a silver dressing also minimizes a patient's hospital stay and allows rapid recovery, which is another benefit presumed to support the market growth in coming years.

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Empowering supply chain is foreseen to hold the key to establishment of emerging, high-potential markets. Key companies in the market are currently investing in strategic collaborations and focusing on new product launches so as to strengthen their market presence. A number of companies in the market are introducing technologically sophisticated and highly user-friendly devices, which will further boost the market growth in near future. Moreover, NPWT device manufacturers have been continuously improving their forward integration capabilities in the value chain in order to establish a top notch distributor network. This has also been an important factor fueling the sales of NPWT devices in the past few years.

A few of the key players actively operating the global NPWT devices and dressings market include Acelity (Kinetic Concepts, Inc.), Smith and Nephew PLC., Mölnlycke Health Care, Cardinal Health Inc., Paul Hartmann AG, Medela, Devon Medical Products, and Avery Dennison Corporation. While a majority of them are focusing on driving growth in mature markets so as to maximize growth prospects over the forecast period, others are prioritizing strategic collaborations with established research centers and leading manufacturers.

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The global market for NPWT devices and dressings has been segmented into:

Product Type

NPWT Devices
Standalone NPWT Devices
Portable NPWT Devices
Disposable NPWT Devices
NPWT Dressing kits
Foam dressing kit
Gauze dressing kit

Application

Chronic Wounds
Venous leg ulcers
Diabetic foot ulcers
Pressure ulcers
Acute Wounds
Traumatic wounds
Burn cases
Surgical Procedures

By End-user

Hospitals
Clinics
Ambulatory surgical centers
Home care settings

By Region

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

The wound management section of healthcare domain has been prospering since the past few decades. Widespread adoption of NPWT has made the devices abundantly available for clinical as well as home healthcare use. The global market for NPWT devices and dressings is apprehended to have promising growth prospects over 2017-2027, according to research conducted by Persistence Market Research.

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This release was published on openPR.