Meticulous Research®—a leading global market research company, published a research report titled, ‘Negative Pressure Wound Therapy (NPWT) Market by Product (Conventional/Traditional, Single-use, Accessories), Wound Type (Diabetic Foot Ulcer [DFU], Venous Leg Ulcer, Surgical, Burn, Skin Grafts), End User (Hospital, Home Care) - Global Forecast to 2030.’
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According to this latest publication from Meticulous
Research®, the negative pressure wound therapy market is projected to reach
$4.04 billion by 2030, at a CAGR of 6% from 2023 to 2030. The growth of this
market is driven by the increasing prevalence of diabetes and chronic wounds,
rising elderly population, favorable reimbursement policies and increasing
incidence of obesity and associated comorbidities. In addition, the
technological advancements in negative pressure wound therapy devices and
emerging economies are expected to provide significant growth opportunities for
this market.
However, the high costs of NPWT devices and the potential
risk of complications are expected to restrain the growth of this market to a
certain extent. In addition, factors such as the limited awareness and training
of healthcare professionals and the lack of adherence to the treatment among
patients due to discomfort pose major challenges to the market’s growth.
The key players operating in the negative pressure wound
therapy market are Acelity L.P. Inc. (U.S.), Cardinal Health, Inc. (U.S.),
Convatec Group plc (U.S.), DeRoyal Industries, Inc. (U.S.), Genadyne
Biotechnologies, Inc. (U.S.), Medela AG (Switzerland), Mölnlycke Health Care AB
(Sweden), Smith & Nephew plc (U.K.), PAUL HARTMANN AG (Germany), and Talley
Group Ltd (U.K.).
The negative pressure wound therapy market is segmented by
product, wound type, end user, and geography. The study also evaluates industry
competitors and analyzes the country and regional-level markets.
Based on product, in 2023, the conventional/traditional NPWT
devices segment is expected to account for the largest share of the negative
pressure wound therapy market. The large market share of this segment is
attributed to the high demand for conventional NPWT devices for inpatient care,
the high prevalence of acute and chronic open wounds, and the increasing number
of surgeries globally.
Based on wound type, in 2023, the diabetic foot ulcers
segment is expected to account for the largest share of the negative pressure
wound therapy market. The large market share of this segment is attributed to
the increased prevalence of diabetes and associated diabetic foot ulcers,
increased awareness among patients and proven clinical outcomes to treat the
condition.
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Based on end user, in 2023, the hospital & clinics
segment is expected to account for the largest share of the negative pressure
wound therapy market. The large market share of this segment is attributed to
the increased adoption of NPWT in hospitals, the high awareness about the
benefits of therapy among healthcare professionals, and the rising patient
population.
This research report analyzes the market across major
regions and provides a comprehensive analysis of North America (U.S. and
Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe),
Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America,
and the Middle East & Africa. In 2023, North America is expected to account
for the largest share of the negative pressure wound therapy market, followed
by Europe and Asia-Pacific. North America’s major market share is attributed to
the advanced healthcare infrastructure in the region, the presence of key
market players, and the high awareness of the benefits of NPWT for chronic
wound management.
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