Negative Pressure Wound Therapy (NPWT) Market to Grow at a CAGR of 6.6% Through 2026

Introduction

Negative-Pressure Wound Therapy (NPWT) is a therapeutic technique (or) sealed wound-care system that involves usage of a vacuum dressing to promote healing of large chronic persistent wounds and acute complicated wounds. NPWT is also used for rapid healing of second- and third-degree burns. The system consists of an electronically controlled pump and a foam dressing that drains the wound. An adjustable negative pressure is applied via an airtight adhesive film that covers the wound. NPWT drains wound exudate and helps to promote blood circulation and healing. The global NPWT market has been segmented on the basis of product type, end user and region.

Market Value and Forecast

The global NPWT market has been estimated to be valued at US$ 1,822.5 Mn by 2016 end, and is expected to expand at a 6.6% CAGR over the forecast period (2016–2026).

Market Dynamics

Growth of the global NPWT market is mainly driven by rising adoption and growing demand for smart and small NPWT devices, coupled with socio-economic factors such as increasing acute and chronic wound conditions, which are attributed to growing ageing population as well as increasing burn incidences globally.

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Other prominent factors driving growth of the market are technological advancements related to the development of lighter and canister-free NPWT devices as well as decreasing length of stay in hospitals due to increasing adoption of NPWT devices in homecare settings.

However, increasing complications associated with NPWT devices, lack of skilled clinicians and increasing competition from parallel therapies, which have been exhibiting higher efficacy in treating chronic wounds, are factors expected to restrain growth of the market over the forecast period.

Majority of the medical devices manufacturers globally are expected to invest more on technological advancements and better product designs to minimise the probability of complications associated with devices and to eliminate the corresponding adverse impact on patient safety.

Market Segmentation By Product

Based on product type, the market has been segmented into stand-alone NPWT devices, portable NPWT devices, single use disposable NPWT devices and NPWT accessories (Canisters). Single use disposable NPWT devices segment, followed by the portable NPWT devices segment, is expected to account for highest demand for NPWT devices over the forecast period.

Market Segmentation By End User

Based on end user, the market has been segmented into hospitals, clinics and home care settings. The hospitals segment currently accounts for highest revenue share of the NPWT devices market. NPWT is also gaining importance in home care settings owing to its cost effectiveness when compared to the cost of staying in a hospital.

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Key Regions

The global NPWT market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the North America market has been estimated to dominate the global NPWT market in 2016, and is expected to expand at a CAGR of 6.7% over the forecast period. APEJ, Japan, and Latin America are estimated to be the fastest growing markets among all the emerging regional markets. In terms of value, the APEJ market is expected to register a CAGR of 8.1% over the forecast period. The hospitals segment in the APEJ NPWT market is expected to register a CAGR of 8.5% over the forecast period, driven by development of healthcare infrastructure in the region, which in turn is expected to lead to construction of more number of small and mid-sized hospitals.

Key Players

Some of the key players in the global NPWT market included in the report are Acelity, Smith & Nephew, ConvaTec Inc., PAUL HARTMANN AG, Medela, Mölnlycke Health Care and Coloplast Corp. The report also identifies company-specific strategies related to product development and market consolidation initiatives and analysis of the concerned companies’ specific strengths, weaknesses, opportunities and threats.

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