Press release
Booming Demand in the Negative Pressure Wound Therapy Market Will Drive an Exponential Increase CAGR
The global negative pressure wound therapy devices industry was estimated at $2.14 billion in 2020, and is expected to hit $3.34 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027.
CAGR: 5.7%
Current Market Size: USD 2.14 Billion
Forecast Growing Region: APAC
Largest Market: North America
Projection Time: 2020 - 2027
Base Year: 2019
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Rapidly aging population, increase in incidences of chronic conditions, technological advancements in NPWT devices to deal with complex wounds, and surge in awareness to reduce healthcare costs drive the growth of the global negative pressure wound therapy devices market. On the other hand, complications related to NPWT impede the growth to some extent. However, increased focus toward advanced treatment protocols and significant unmet needs in wound care are expected to create multiple opportunities in the industry.
COVID-19 scenario:
The growing prevalence of chronic diseases such as diabetes & obesity and increase use of single-use devices would boost the demand for negative pressure wound therapy devices.
Restriction on manufacturing pharmaceutical ingredients and medical devices would hamper the market.
The chronic wounds segment to maintain the lion's share-
Based on wound type, the chronic wounds segment accounted for nearly two-thirds of the global negative pressure wound therapy devices market revenue in 2019, and is projected to retain its dominance during the study period. The same segment is also anticipated to register the fastest CAGR of 6.1% from 2020 to 2027, owing to surge in prevalence of medical conditions that lead to chronic wounds.
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Key players in the industry-
ATMOS MedizinTechnik GmbH & Co. KG
Talley group Ltd.
Cardinal Health.
Smith & Nephew Plc.
DeRoyal Industries, Inc.
Devon International Group,
3M (Acelity L.P. Inc.,)
Investor AB (Mölnlycke Health Care AB)
ConvaTec Group Plc.
Olle Larsson Holding AG (Medela AG)
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