Negative Pressure Wound Therapy Market Key Players Analysis - 3M, Alleva Medical, Cardinal Health, Carilex Medical, Convatech Group.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Negative Pressure Wound Therapy Market- (By Product Type (Conventional NPWT Devices, Disposable NPWT Devices, NPWT Accessories), By Wound Type (Burns and Surgical Open Wounds, Pressure Ulcers, Diabetic Foot Ulcers, Venous Leg Ulcers, Traumatic Wound), By End User (Home Care Settings, Hospitals, Others), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Negative Pressure Wound Therapy Market is valued at US$ 2.47 Bn in 2023, and it is expected to reach US$ 4.11 Bn by 2031, with a CAGR of 6.8% during the forecast period of 2024-2031.

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Negative pressure wound therapy is a treatment for illness that uses controlled suction to get rid of extra fluid and help wounds heal. Making a vacuum around the wound boosts blood flow and lowers the risk of infection. The increasing number of accidents, traumatic occurrences, and the increased adoption of these techniques in response to long-term chronic disorders are driving the negative pressure wound therapy industry forward. However, high expenses and a need for more expertise are expected to slow the expansion of the global negative pressure wound therapy market. Additionally, as advanced wound care becomes more popular, more and more people are learning about the benefits of negative pressure wound therapy, such as quicker recovery and a lower chance of infection.

Patients prefer negative pressure wound treatment outside of hospitals because it is easier and better at managing wounds. This has sped up the growth of home healthcare services. In addition, healthcare systems have benefited from more advanced and innovative technology due to expanding payment coverage, which bodes well for the increased demand for negative pressure wound therapies during the projection period.

List of Prominent Players in the Negative Pressure Wound Therapy Market:
• 3M
• Alleva Medical
• Cardinal Health
• Carilex Medical
• Convatech Group
• Cork Medical
• Deroyal
• Genadyne Biotechnologies
• Haromed Medical Technologies
• Medela
• Molnlcke Healthcare
• Paul Hartmann AG
• Pensar Medical
• Smith & Nephew
• Talley Group
• Others

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Market Dynamics:
Drivers:
The demand for negative pressure wound therapy is being propelled by the increasing number of chronic wounds, including diabetic ulcers, pressure sores, and wounds that occur after surgery. The need for negative pressure wound therapy solutions is expected to be driven by the increasing prevalence of chronic wounds among older people. This condition is more complex and requires specialized care due to the world's ageing population. Further growth of their utilization has been facilitated by technological developments in negative pressure wound therapy devices, which have made them more portable, user-friendly, and appropriate for home care settings. Due to these innovations, patients get better results due to accelerated healing and decreased infection risks, which will contribute to the expansion of the market in the coming years.

Challenges:
The negative pressure wound therapy market is slowing growth because of the high expenses. Negative pressure wound therapy is not widely available to patients because of its price tag. Other factors that hinder market adoption in poor nations include limited healthcare infrastructure and a lack of understanding about sophisticated wound treatment options. Alternative negative pressure wound therapies are available, and the market is constrained. In addition, the lack of knowledge among the public and healthcare workers about these cutting-edge procedures also challenges their expansion in the market.

Regional Trends:
The North American negative pressure wound therapy market is expected to register a major market share in revenue. It is projected to grow at a high CAGR in the near future due to the rising incidence of long-term diseases like diabetes and cancer, the prevalence of chronic diseases, the rising ageing population, and encouraging initiatives by the government. Besides, Europe had a substantial market share because of its extensive healthcare system, an ageing populace, and a high rate of chronic wounds. The market growth of the area was strengthened by higher spending on medical technology and strong government support for improved wound care therapies.

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Recent Developments:
• In May 2024, 3M Health Care's Medical Solutions Division, a frontrunner in advanced wound care, was granted $34.2 million by the U.S. Army Medical Research Acquisition Activity to create innovative solutions for wound healing, infection prevention, and wound management.
• In April 2024, The Medical Solutions Division of 3M Health Care revealed that their 3MTM V.A.C. Therapy negative pressure wound therapy (NPWT) has more than doubled the number of peer-reviewed medical journal papers that have previously demonstrated its effectiveness. There has never been an NPWT solution with as much published research on its therapy as V.A.C. Therapy. More than three-quarters of all NPWT clinical evidence is based on one brand, making it the most data-backed option available.
• In September 2024, Alleva Medical is thrilled to announce that the FDA has green-lit their groundbreaking Extricate 3000 pumps for residential usage in the US. The Extricate 3000 pump is an advanced device for negative pressure wound therapy that offers patients a wide range of options for successful and flexible wound care.

Segmentation of Negative Pressure Wound Therapy Market-
Negative Pressure Wound Therapy Market- By Product Type
• Conventional NPWT Devices
• Disposable NPWT Devices
• NPWT Accessories
Negative Pressure Wound Therapy Market- By Wound Type
• Burns and Surgical Open Wounds
• Pressure Ulcers
• Diabetic Foot Ulcers
• Venous Leg Ulcers
• Traumatic Wound
Negative Pressure Wound Therapy Market- By End-User
• Home Care Settings
• Hospitals
• Others
Negative Pressure Wound Therapy Market- By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.