Increase in healthcare expenditure across the globe by developing and emerging nations are changing the scenario of healthcare sector in order to provide better and effective cure. Emerging economies are adopting advanced therapies and healthcare devices to minimize the burden of diseases which is further cutting down the figure of health expenditure.
“Negative Pressure Wound Therapy (NPWT) Market: Global Demand Analysis & Opportunity Outlook 2023”
The global negative pressure wound therapy (NPWT) market is segmented into product such as stand-alone NPWT devices, portable NPWT devices, single-use disposable NPWT devices and NPWT accessories (canisters) out of which, the single-use disposable NPWT devices segment is anticipated to have the largest share by 2023 and is expected to seize a notable CAGR during the forecast period i.e. 2016-2023. Further, the growth of this segment is attributed to various factors such as cost-effectiveness and handiness of the devices.
Apart from this, portable NPWT devices are also projected to attain a remarkable CAGR by the end of 2023.
Global negative pressure wound therapy (NPWT) market is expected to register a considerable CAGR of 6.4% over the forecast period.
Moreover, the global negative pressure wound therapy (NPWT) market is anticipated to reach at revenue of USD 698.7 Million by 2023. Furthermore, the factors boosting the demand for negative pressure wound therapy (NPWT) includes it optimize the blood flow in the wound bed, decreases tissues swelling and decreases number of bacteria.
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The hospitals and clinics segment by end-user is projected to seize the largest market in overall negative pressure wound therapy (NPWT) market in 2015. In terms of geography, North America region is the leading market of negative pressure wound therapy (NPWT) due to presence of advanced healthcare infrastructure.
Further, U.S. dominates the negative pressure wound therapy (NPWT) market in North America region due to introduction of favorable re-imbursement policies. Apart from this, Asia-Pacific negative pressure wound therapy (NPWT) market stood second place in 2015 due to rising emerging economies.
Increasing Incidences of Skin Ulcer
Rising number of skin ulcer cases all over the globe along with increasing awareness regarding advanced healthcare therapies are believed to be the major factor behind the rapid growth of negative pressure wound therapy (NPWT) market. Further, introduction of cost-effective and portable wound therapy devices are some of the factors fostering the market of negative pressure wound therapy (NPWT).
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Rising Healthcare Spending
Positive GDP figures of the developed and developing nations have led the government to spend more on healthcare industry which is projected to augment the demand for negative pressure wound therapy (NPWT). Furthermore, rising concern towards cure and treatment of wounds is also predicted to supplement the growth of negative pressure wound therapy (NPWT) market.
On the contrary, high cost associated with treatment by NPWT and lack of awareness in underdeveloped nations is believed to hamper the market of negative pressure wound therapy (NPWT) by 2023.
The report titled “Negative Pressure Wound Therapy (NPWT) Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global negative pressure wound therapy (NPWT) market in terms of market segmentation by product, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global negative pressure wound therapy (NPWT) market which includes company profiling of BSN Medical, Carilex Medical, ConvaTec Inc., Galaxy Medical Products, KCI USA Inc.,Smith & Nephew Plc, Mölnlycke Health Care, Triage Meditech and Pensar Medical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global negative pressure wound therapy (NPWT) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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