Negative Pressure Wound Therapy (NPWT) Market Size, Competitive Landscape, Regional Outlook

ALHAMBRA, Calif. - March 30, 2020 - PRLog -- he factors responsible for the growth of the market are rising prevalence of diabetes, increasing cases of burns, growing geriatric population, and high rate of caesarean section (C-section) leading to increasing post-operative use of NPWT devices, according to P&S Intelligence.

Based on wound type, the negative pressure wound therapy market (https://www.psmarketresearch.com/market-analysis/negative-pressure-wound-therapy-market) is categorized into chronic wounds and acute wounds. The chronic wounds category is further classified into venous, diabetic foot, and pressure ulcers. Among these, the NPWT devices are mostly utilized for the treatment of venous ulcers, and the category is expected to hold 61.1% share in the market by 2024. This can be attributed to increasing cases of varicose veins among people, which are the major reason for venous ulcers.

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.