Negative Pressure Wound Therapy Devices Market 2027

Negative pressure wound therapy devices are relatively noninvasive devices used for treatment of acute and chronic wounds such as diabetic foot ulcers, venous leg ulcers, pressure ulcers, and burn injuries. Negative pressure wound therapy is also known as vacuum assisted wound closure, and is used for wound healing and removal of fluids from the site of the wound. Negative pressure wound therapy can be used for treating acute, chronic wounds, diabetic ulcers, skin flaps, pressure ulcers, and others.Increasing incidence of chronic wounds such as diabetic foot ulcers, increasing awareness for technologically advance treatment modalities and availability of favorable reimbursement policies in developed and emerging economies are expected to increase demand for negative pressure wound therapy derives.

Market Dynamics

Increasing incidence of diabetic foot ulcers, venous leg ulcers, product launches by market players, as well as increasing healthcare expenditure are major factors driving the global negative pressure wound therapy devices market growth. For instance, according to the Center for Medicare and Medicaid Services the U.S. health care spending increased 3.9% to reach US$ 3.5 trillion in 2017.

Increasing incidence of chronic wounds due to pressure ulcers, diabetic foot ulcers, burn injuries, venous leg ulcers, and traumatic injuries is expected to drive the market growth. Over the past few years, there has been an increase in the number of diabetic foot ulcers in developing economies such as India, which is expected to fuel the market growth. For instance, in 2017, according to the International Diabetes Federation, around 73 million cases of diabetes were reported in India. Key players in the market are focused on strategies such as partnerships and acquisitions to expand their product portfolio and geographical positioning in the global negative pressure wound therapy market. For instance, in December 2018, KCI entered a three-year group purchasing agreement for its negative pressure wound therapy (NPWT) line, with Vizient Inc., one of the largest member driven healthcare performance improvement companies in the U.S. The agreement is expected to increase accessibility of negative pressure wound therapy devices to Vizient members in the U.S.

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Key features of the study:This report provides in-depth analysis of the negative pressure wound therapy devices market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year. It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market. This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players. It profiles key players in the global negative pressure wound therapy devices market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans.

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