Seattle, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global negative pressure wound therapy (NPWT) devices market is estimated to be valued at US$ 2,560.2 million in 2022 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Negative Pressure Wound Therapy (NPWT) Devices Market:
Major players operating in market are focusing on adopting growth strategies such as technological advancements and new product approvals, which is expected to drive the market growth over the forecast period. For instance, in May 2021, ExtriCARE USA, a national medical device company specializing in negative pressure wound therapy (NPWT) distribution, had introduced a hybrid technology to the wound care market. Through hybrid technology (hNPWT), clinicians can tailor the application based on the patients' distinct needs. ExtriCARE USA's hybrid model would allow clinicians to be more efficient by simplifying the NPWT process.
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Key Market Takeaways:
Global negative pressure wound therapy (NPWT) devices market is expected to exhibit a CAGR of 6.8% during the forecast period, owing to the increase in geriatric population around the world, which are highly susceptible to various diseases that lead to the formation of various types of wounds
Among device type, single use device segment is expected to hold a dominant position over the forecast period, owing to increasing health concerns due to which people prefer using single-use products to manage chronic and acute wounds
On the basis of application, diabetic foot ulcers segment is expected to hold a dominant position over the forecast period, owing to increasing prevalence of diabetic foot ulcers. For instance, according to an article published in the World Journal of Diabetes, in 2022, the global prevalence of diabetic foot ulcers is reported at 6.3%, with diabetic foot ulcers being more common in men than women and in type 2 diabetes mellitus than type 1 diabetes mellitus. The recurrence rate of DFUs is also high.
Key players operating in the global negative pressure wound therapy (NPWT) devices market include Smith & Nephew plc., 3M Company (ACELITY), Devon Medical, Paul Hartmann AG, Talley Group Limited, Coloplast A/S, ConvaTec Inc., Molnlycke Health Care AB, Medela AG, Kinetic Concepts, Inc., and Cardinal Health, Inc.
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Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Device Type:
Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Application:
Diabetic Foot Ulcers
Venous Leg Ulcers
Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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