Negative Pressure Wound Therapy Devices Market 2018: Major Factors, Global Study and Forecast
The major factors driving the growth of this market are rising aging and geriatric population and technological advancement in negative pressure wound therapy devices increased number of surgical procedures, government support for promoting negative pressure wound therapy rising incidence of diabetes. On the other hand, high cost of products and availability of substitute products hinders the market growth.
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Market Segmentation: Global Negative Pressure Wound Therapy Devices Market
• Global negative pressure wound therapy devices market is segmented on the basis of product type, wound type, end user and distribution channel. On the basis of product type, the Global negative pressure wound therapy devices market is segmented into stand-alone negative-pressure wound therapy devices, portable negative-pressure wound therapy devices and disposable negative-pressure wound therapy devices. In 2017, standalone negative pressure wound therapy devices segment is expected to dominate the Global negative pressure wound therapy devices market with 51.1% market share and is expected to reach USD 2,104.7 million by 2024, growing with a CAGR of 3.2% in the forecast period 2017 to 2024.
• On the basis of wound type, the Global negative pressure wound therapy devices market is segmented into surgical wound, diabetic ulcers, burns, pressure ulcers, venous ulcers and others. In 2017, surgical wound is expected to dominate the Global negative pressure wound therapy devices market with 41.3% market share and is expected to reach USD 1,951.2 million by 2024, growing with a CAGR of 5.3% in the forecast period 2017 to 2024.
• On the basis of end-user, Global negative pressure wound therapy devices market is segmented into hospitals, wound care centres, ambulatory centres, home healthcare, clinics and community healthcare. In 2017, hospital is expected to dominate the Global negative pressure wound therapy devices market with 42.4% market share and is expected to reach USD 1,664.8 million by 2024, growing with a CAGR of 2.5% in the forecast period 2017 to 2024.
• On the basis of distribution channel, Global negative pressure wound therapy devices market is segmented into direct tenders and distributor & retails. In 2017, direct tenders is expected to dominate the Global negative pressure wound therapy devices market with 79.0% market share and is expected to reach USD 4,122.3 million by 2024, growing with the highest CAGR of 6.8% in the forecast period 2017 to 2024.
The global negative pressure wound therapy devices market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. The global negative pressure wound therapy devices market is dominated Acelity L.P. Inc., followed by Smith and Nephew and Molyncke HealthCare.
Acelity L.P. Inc.:
Acelity L.P. Inc. was founded in 1976 and it is headquartered at Texas, U.S. a global medical technology which looks into the commercialization and development of both regenerative medicine solutions and advanced wound care. It is formed by joining three organizations named, KCI, LifeCell and Systagenix. The company operates in two business segment which includes Advanced Wound Therapeutics and Regenerative Medicine. Advanced wound therapeutics focusses on evolution and commercialization of advanced wound dressings and advanced devices whereas, regenerative medicine looks into the development of reconstructive and regenerative acellular tissue matrices in respect of reinforcement of defect of soft tissue. The company has presence in approximately 80 countries.
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Molnlycke was founded in 1849, and is headquartered in Gothenburg, Sweden. Mölnlycke Health Care is a world-leading medical products and solutions company that equips healthcare professionals to achieve the best patient, clinical and economic outcomes. Company design and supply products and solutions for use in wound treatment, pressure ulcer, infection prevention and surgery. The company’s operations span across North America, Europe, Middle East, Africa, Asia, and rest of the world.
The company operates through ten business segments, namely, infection prevention, pressure ulcers, O.R. efficiency, diabetic foot ulcers, venous leg ulcers, solution for burns, post-operative blistering, radiotherapy, negative pressure wound therapy, and patient warming. Molnlycke deals in negative pressure wound therapy devices product for treatment of chronic wound such as pressure ulcers, diabetic foot ulcers, venous ulcers, and burns.
Smith And Nephew:
Smith and Nephew was founded in 1856 and headquartered in London, United Kingdom. The company is engaged in the development, manufacturing and marketing of various products which include sports medicine joint repair, arthroscopic enabling technologies, trauma & extremities, knee implants, hip implants, advanced wound care, advanced wound bioactives and advanced wound devices. The company offers advanced medical products and services for various healthcare professionals in more than 100 countries.. The company has its operations across North America, Europe, Middle East, Africa, Asia, and rest of the world.
Smith and Nephew operate through four business segments: orthopedics reconstruction, advanced wound management, sports medicine, and trauma & extremities. Smith and Nephew deal in negative pressure wound therapy devices management products for the treatment of acute and chronic wounds, including leg, diabetic, pressure ulcers, burns and post-operative wounds.
Key Points: Global Negative Pressure Wound Therapy Devices Market
• Global negative pressure wound therapy devices market is dominated Acelity L.P. Inc., followed by Smith and Nephew and Molyncke Healthcare along with others such as 3M, ConvaTec Inc, among others.
• The global stand-alone negative pressure wound therapy devices Devices market is expected to reach USD 1,465.5 million by 2024, from USD 859.9 million in 2016, growing at the highest CAGR of 7.2%.
• The global surgical wound market is expected to reach USD 1,951.2 million by 2024, from USD 1,249.7 million in 2016, growing at a CAGR of 8.7%.
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