The NPWT devices market is expected to reach USD 2.72 billion by 2023 from USD 2.11 billion in 2018, at a CAGR of 5.2%
NEW YORK, Oct. 11, 2018 /PRNewswire/ -- The negative pressure wound therapy (NPWT) devices market is projected to grow at a CAGR of 5.2% during the forecast period.
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The NPWT devices market is expected to reach USD 2.72 billion by 2023 from USD 2.11 billion in 2018, at a CAGR of 5.2%. The growing prevalence of diabetes, increasing spending on chronic and surgical wounds, government initiatives to prevent SSIs, and the high rate of cesarean sections in older mothers leading to the increasing post-operative use of NPWT devices are some of the factors expected to drive market growth during the forecast period.
The single-use NPWT devices segment is expected to witness the highest growth rate during the forecast period.
By product type, the NPWT devices market is categorized into conventional NPWT devices, single-use NPWT devices, and accessories.The single-use NPWT devices segment is expected to register the highest CAGR during the forecast period.
Single-use NPWT devices are low-cost, small, and discreet NPWT systems, which incorporate simplified functionalities by removing the need for canisters and simplifying the dressing interface, these benefits are driving the growth of this segment.
The surgical & traumatic wounds segment is expected to account for the largest share of the NPWT devices wound type market in 2018.
Based on the wound type, the NPWT devices market is categorized into surgical and traumatic wounds, ulcers, and burns.In 2018, the surgical and traumatic wounds segment is expected to account for the largest share of the market.
This growth can be attributed to the growing prevalence of surgical & traumatic wounds and increasing spending on such wounds.
Asia is estimated to register the highest CAGR during the forecast period.
Geographically, the NPWT devices market is dominated by North America, followed by Europe.However, Asia is expected to register the highest CAGR during the forecast period.
Growth in this region can be attributed to the developing healthcare infrastructure, rising burden of chronic diseases such as diabetes, and the launch of supportive government initiatives to prevent surgical site infections.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 – 70% and Tier 2 – 30%
• By Designation: C-level – 62%, Director-level – 21%, and Others – 17%
• By Region: North America – 20%, Asia– 30%, Europe – 50%
The key players in the NPWT devices market are Acelity (US), Smith & Nephew (UK), Mölnlycke Health Care AB (Sweden), Cardinal Health (US), ConvaTec (UK), and DeRoyal (US), Lohmann & Rauscher (German), Talley Group (UK), Medela (Switzerland), and Genadyne (US).
Research Coverage:
The report analyses the NPWT devices market by product type, wound type, end user, and region.Apart from a comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years.
Company profiles also include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, the current market size, and the forecast of future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
Key Benefits of Buying the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the NPWT devices market
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the NPWT devices market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the NPWT devices market
• Market Development: Comprehensive information about emerging markets. This report analyses the market for various NPWT devices across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the NPWT devices market.
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