The Future Shape of Negative Pressure Wound Therapy Market Health Articles | April 6 Michael Frolik Womens Jersey , 2016
The global negative pressure wound therapy (NPWT) market will expand at a marked CAGR of 10.20% during the forecast period from 2014 to 2020. In 2013, the global negative pressure wound therapy market was estimated at US$1.5 bn and by 2020, the market is projected to be worth US$2.9 bn.
Negative Pressure Wound Therapy (NPWT) is an advance wound care therapy that applies sub-atmospheric or negative pressure to a wound in a closed drainage system. NPWT devices uses an electrical as well as a mechanical suction pump to continuously or intermittently convey negative pressure through connecting tubes to specially designed wound dressings kits that include resilient foam and gauze dressings and thereby promote faster wound healing. NPWT promotes wound healing by reducing edema, by stimulating granulation tissue and cell proliferation as well as by increasing blood circulation. NPWT systems can be used for the treatment of surgical wounds, traumatic wounds, chronic wounds such as diabetic foot ulcers and venous stasis ulcers as well as pressure sores. NPWT systems are segmented on the basis of type of devices into conventional NPWT systems and single use NPWT systems. Further Mike Smith Womens Jersey , conventional NPWT systems are bifurcated on the basis of disposables into canisters, pumps and dressing kits. In addition, NPWT systems can also be used for the treatment of injuries associated with burns and meshed skin grafts.
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The primary factors contributing to the growth of this market are globally increasing geriatric population; as well as increasing incidence and prevalence rate of chronic diseases such as cancer and diabetes leading to rise in chronic wounds. Moreover, high awareness about advance wound care devices and patient preference for the treatment with minimum side-effects are also driving the growth of this market.
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In products segment, conventional NPWT systems account for the largest market segment while, single use NPWT systems market segment is growing with highest CAGR of approximately17 % during forecast period from 2014 to 2020. NPWT market is witnessing a paradigm shift from usage of conventional NPWT systems towards single use NPWT systems owing to preference of patients towards portable and cost effective wound care devices. This shift in preference is mainly related to convenience of patients since they try to avoid bulky and expensive conventional NPWT systems compared to portable single use NPWT systems.
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Rising Investments in Emerging Markets Fueling Growth
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North America is the most prominent market for negative pressure wound therapy at the moment Troy Brouwer Womens Jersey , driven by increasing levels of patient awareness, rapidly aging population, growing prevalence of chronic diseases, high percentage of diabetic population, and favorable and supportive reimbursement policies. Europe is also a key market for negative pressure wound therapy, propelled by increased prevalence of chronic wounds and high incidence of transit accidents.
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However Dougie Hamilton Womens Jersey , emerging economies have been identified as the most lucrative market for negative pressure wound therapy, thanks to rising investments in healthcare and development of novel technologies. Asia Pacific is anticipated to witness the highest growth among other regional markets and this development can be attributed to supportive government policies, strong economic development, increased demand for advanced wound care products, and rise in healthcare expenditure.
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On the down side, high cost of advanced wound care devices Travis Hamonic Womens Jersey , unfavorable reimbursement policies in certain countries, and reluctance in adopting technologically advanced devices in some regions are anticipated to restrict the growth of the market.
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Realizing the potential of negative pressure wound therapy, the competition within the global market has increased, making room for advanced and more convenient solutions. Some of the leading vendors engaged in the global negative pressure wound therapy market are Devon Medical, Inc., Medela AG Sean Monahan Womens Jersey , Genadyne Biotechnologies, Inc., ConvaTec, Inc., Kinetic Concepts, Inc. Matthew Tkachuk Womens Jersey , ArjoHuntleigh International AB, Prospera Technologies LLC, Talley Group Limited, Smith & Nephew PLC, and M枚lnlycke Health Care AB.
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