Global Negative Pressure Wound Therapy (NPWT) Devices Market - Trends, Analysis, Size & Forecast till 2024

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.

Prevalence of leg ulcers and other chronic wounds increases with age. Though prevalence of venous leg ulcer is less, cost of treatment remains a burden on the economy. For instance, prevalence of venous leg ulcers in the U.K. is 0.1%-0.3% in the U.K. (Patient Platform Limited); however, treatment costs add up to US$ 506 – US$ 760 million (£400 million – £600 million) annually.

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Use of NPWT can greatly reduce the cost of treatment of chronic wounds, as the frequency of change in dressings reduces and also the device can serve for up to a month of therapy duration. This would favor the negative pressure wound therapy devices market growth in near future.

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.

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.

This report segments the global negative pressure wound therapy devices market on the basis of device type, application, and geography. On the basis of device type, the market is segmented into standalone devices, single-use devices, portable devices, and accessories. Applications of NPWT devices covered as part of the report are diabetic foot ulcers, venous leg ulcers, pressure ulcers, burn wounds, and others. For comprehensive understanding of market dynamics, the global negative pressure wound therapy devices market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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This report provides in-depth analysis of the negative pressure wound therapy devices and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2016 – 2024, considering 2015 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

It profiles leading players in the global negative pressure wound therapy devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans

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.
Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, technology upgrades, market expansion, and marketing tactics

The global negative pressure wound therapy devices market report caters to various stakeholders in this industry, including investors, device manufacturers, distributors and suppliers for negative pressure wound therapy (NPWT) devices, research and consulting firms, new entrants, and financial analysts

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Various strategy matrices used in analyzing the negative pressure wound therapy devices market would provide stakeholders vital inputs to make strategic decisions accordingly

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