Negative Pressure Wound Therapy (NPWT) Market to be Worth US$2.9 bn by 2020 due to Rising Investment in Emerging Economies: Transparency Market Research

Feb 15, 2016, 09:30 ET from Transparency Market Research Pvt. Ltd

ALBANY, New York, February 15, 2016 /PRNewswire/ --

The research study, titled "Negative Pressure Wound Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", from Transparency Market Research offers key insights into the market. According to this report, 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.

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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.

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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The study states that based on the type of devices, negative pressure wound therapy systems are segmented into single use NPWT systems and conventional NPWT systems. In terms of disposables, the conventional NPWT systems are further segmented into pumps, canisters, and dressing kits. Additionally, NPWT systems can also be utilized for treating injuries such as meshed skin grafts and burns. As per this report, in terms of product segments, conventional negative pressure wound therapy systems constituted the biggest market segment, but the single use NPWT systems market segment is expanding at a higher CAGR - of about 17 % - during the forecast horizon between 2014 and 2020.

The negative pressure wound therapy market is experiencing a conspicuous shift from utilization of conventional NPWT systems to single use NPWT systems. This shift in inclination is majorly due to the higher convenience offered by single use NPWT systems to patients, as well as their cost advantage over conventional systems and higher portability.

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The report states that the key factors contributing to the expansion of this market are the rising global geriatric population and rising incidence of chronic diseases such as diabetes and cancer. Moreover, increased awareness on advanced wound care devices is also stimulating the growth of this market. However, increase in healthcare expenditure as well as fluctuating economic conditions have resulted in hampered growth prospects for the global NPWT market. As per this TMR research report, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).

North America is the biggest market for NPWT systems due to supportive reimbursement policies. Europe represents the second biggest market for NPWT systems owing to high occurrence rate of transit accidents. Asia Pacific is predicted to witness the highest growth owing to robust economic development, increasingly favorable government policies, and increase in demand for technologically developed wound care products.

Companies mentioned in the research report  

Some of the prominent vendors operating in the market identified in the report are Talley Group Limited, ArjoHuntleigh International AB, Medela AG, Mölnlycke Health Care AB, ConvaTec, Inc., Devon Medical, Inc., Kinetic Concepts, Inc., Smith & Nephew PLC, Genadyne Biotechnologies, Inc., and Prospera Technologies LLC.

Global NPWT Market Segments Based on Products: 

  • Conventional NPWT Devices
  • Single Use NPWT Devices

Major geographies analyzed under this research report are:  

  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 

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