(PharmaNewsWire.Com, October 02, 2020 ) The rising prevalence of diabetes, increasing spending on chronic and surgical wounds, government initiatives to prevent SSIs, and the high rate of cesarean sections in elderly mothers are the major factors driving the growth of the NPWT devices market. Also, emerging markets and the increasing sales of disposables and single-use consumables, are expected to offer growth opportunities for players operating in the Negative Pressure Wound Therapy Market.
According to research report NPWT Devices Market is projected to reach USD 3.2 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 6.1% during the forecast period.
Based on end-user, the NPWT devices market is segmented into hospitals, home care settings, and other end users. The home care settings segment was the largest end-users of NPWT devices in 2019. The rising healthcare cost, increasing volume of surgical procedures, the increasing sale of disposables and single-use consumables, rising geriatric population, and an increase in the prevalence of age-related ailmentsare a few of the major factors driving the growth of this end-user segment.
Based on the product, the NPWT devices market is segmented into conventional NPWT devices, disposable NPWT devices, and NPWT accessories. The conventional NPWT devices segment accounted for the largest share of this market in 2019, majorly due to better management of severe wound exudates by the portable conventional NPWT systems and their benefits—increased efficiency and reductions in the length of hospital stay, the overall cost of treatment and total disease bioburden.
In 2019, North America accounted for the largest share of the NPWT devices market. The rising geriatric population, increasing incidence of chronic wounds and diabetes, and the introduction of low-cost NPWT devices are the major factors driving the growth of the NPWT devices market in North America. In addition to this, a favorable reimbursement scenario has supported market growth in this regional segment.
Prominent players in the NPWT devices market include Acelity L.P. Inc. (US), Smith & Nephew (UK), Mölnlycke Healthcare AB (Sweden), ConvaTec Group Plc (UK), Cardinal Health (US), Paul Hartmann AG (Germany), DeRoyal (US), Lohmann & Rauscher International GmbH & Co KG. (Germany), Medela LLC (Switzerland), Genadyne Biotechnologies, Inc. (US), Triage Meditech Pvt. Ltd. (Delhi), Talley Group (UK), Alleva Medical Ltd. (China), Cork Medical (US), 4L Health Co. Ltd. (China), Carilex Medical GmbH (Germany), ChongQing Sunshine Medical Industry & Trading Co (China), Wuhan VSD Medical Science & Technology Co. Ltd. (China), Pensar Medical (US), and Haromed Bvba (Belgium).
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