Negative Pressure Wound Therapy (NPWT) Market Size, Competitive Landscape, Regional Outlook
The global negative pressure wound therapy market is expected to generate $3,001.3 million revenue by 2024, advancing at a CAGR of 6.6% during the forecast period.
By: P&S Intelligence
Based on wound type, the negative pressure wound therapy market (https://www.psmarketresearch.com/
The negative pressure wound therapy market can be categorized into hospitals and clinics, home-care settings, and others, based on end user. Out of these, home-care settings are expected to the fastest growing end-user category in the market, progressing at a CAGR of 6.9% during the forecast period. With the increasing advancements in technology, it is easy to get medical care at home. Moreover, rising preference of patient comfort is another factor driving the demand for NPWT devices in this end-user category.
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The negative pressure wound therapy market is witnessing many product launches throughout the world. For instance, in November 2018, Smith & Nephew plc launched its new NPWT product called PICO7Y. This is a single-use NPWT device with a Y extension, enabling the utilization of two dressings concurrently from one pump, in practice allowing for two wounds to be addressed at the same time, thereby potentially reducing the cost of treatment.
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DeRoyal Industries, Smith & Nephew plc, Devon International Group, Acelity L.P. Inc., ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Limited, Mölnlycke Health Care AB, Cardinal Health, Medela AG, Lohmann & Rauscher GmbH & Co. KG, BSN medical GmbH, Carilex Medical, TRIAGE MEDITECH, Shandog Wego Newlife Medical Device, ConvaTec Group Plc, B. Braun Melsungen AG, Genadyne Biotechnologies Inc., and Cork Medical LLC are some of the prominent players in the global negative pressure wound therapy market.