Negative Pressure Wound Therapy (NPWT) Devices Market to Witness Robust Expansion throughout the Forecast 2020 – 2026
Pune, Maharashtra, India, September 8 2020 (Wiredrelease) Allied Analytics –:
According to a new report published by Allied Market Research, titled, “Negative pressure wound therapy devices Market by Product, Wound Type and End User: Opportunity Analysis and Industry Forecast, 2019–2027,” the global negative pressure wound therapy devices market was valued at $2 billion in 2019, and is expected to reach $3 billion by 2027, registering a CAGR of 5.7% from 2019 to 2027.
NPWT, also known as vacuum-assisted wound closure therapy, involves the application of sub atmospheric pressure to heal acute and chronic wounds. NPWT devices are available in a variety of shapes and sizes to match the body contour of a patient and the size of the wound to be treated. These devices consist of a vacuum pump, drainage tubing, and a dressing set, which promote wound healing, reduce recurrent use of dressings, provide efficient option for management of closed surgical incision lines, and improves patient well-being.
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The outbreak of the pandemic has made people more cautious about several health measures. And, growing prevalence of chronic diseases such as diabetes & obesity and mounting use of single use devices have boosted the negative pressure wound therapy devices market.Still, disruptions in the supply chain are likely to hamper the market to certain extent.However, the industry is quite likely to benefit from the growing awareness about healthcare.
The conventional NPWT devices segment to lead the trail by 2027-
Based on product, the conventional NPWT devices segment contributed to more than three-fourths of the global negative pressure wound therapy devices market share in 2019, and is expected to lead the trail by 2027, owing to their use in management of wounds with large volume of exudate. On the other hand, the single use NPWT devices would grow at the fastest CAGR of 7.1% throughout the forecast period. This is due to the range of benefits they offer.
The chronic wounds segment to maintain the lion’s share-
Based on wound type, the chronic wounds segment accounted for nearly two-thirds of the global negative pressure wound therapy devices market revenue in 2019, and is projected to retain its dominance during the study period. The same segment is also anticipated to register the fastest CAGR of 6.1% from 2020 to 2027, owing to surge in prevalence of medical conditions that lead to chronic wounds.
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North America to rule the roost in terms of revenue-
Based on region, North America garnered the major share in 2019, holding around two-fifths of the global negative pressure wound therapy devices market. This is due to the presence of key players in the region, easy availability of NPWT devices, surge in prevalence of medical conditions leading to acute and chronic wounds, and rise in launch of new and advanced products. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 7.9% till 2027. This is attributed to factors such as surge in adoption of NPWT devices and rise in healthcare expenditure.
Key players in the industry-
ATMOS MedizinTechnik GmbH & Co. KGTalley group Ltd.Cardinal Health.Smith & Nephew Plc.DeRoyal Industries, Inc.Devon International Group,3M (Acelity L.P. Inc.,)Investor AB (Mölnlycke Health Care AB)ConvaTec Group Plc.Olle Larsson Holding AG (Medela AG), and
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