Global Negative Pressure Wound Therapy Devices Market to Reach $3.34 Billion by 2027: AMR

Surge in incidences of chronic conditions, rapid aging populations, and technological advancements in NPWT devices to deal with complex wounds have boosted the growth of the global negative pressure wound therapy devices market. The market across the Asia-Pacific region is expected to register the highest CAGR of 7.9% during the forecast period. Increase in health consciousness and prevalence of chronic diseases would increase the demand for these devices.


Portland, OR, June 09, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global negative pressure wound therapy devices market was pegged at $2.14 billion in 2020, and is anticipated to garner $3.34 billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.

Surge in incidences of chronic conditions, rapid aging populations, and technological advancements in NPWT devices to deal with complex wounds have boosted the growth of the global negative pressure wound therapy devices market. Moreover, rise in awareness to reduce healthcare costs supplemented the market growth. However, complications related to NPWT hamper the market growth. On the contrary, surge in focus toward advanced treatment protocols and significant unmet needs in wound care is expected to open new opportunities for the market players in the coming years.

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COVID-19 scenario:

  • The growing prevalence of chronic diseases such as diabetes & obesity and increase use of single-use devices would boost the demand for negative pressure wound therapy devices.
  • Restriction on manufacturing pharmaceutical ingredients and medical devices would hamper the market.

The global negative pressure wound therapy devices market is segmented on the basis of product, application, end user, and geography. Based on product, the market is divided into conventional NPWT devices and single-use NPWT devices. The single-user NPWT segment is anticipated to manifest the highest CAGR of 7.1% during the forecast period. However, the conventional NPWT devices held the largest share in 2019, accounting for more than three-fourths of the market.

On the basis of application, the market is categorized into chronic wounds and acute wounds. The chronic wounds segment is expected to portray the highest CAGR of 6.1% during the forecast period. Moreover, the segment held the largest share in 2019, accounting for nearly two-thirds of the market.

The global negative pressure wound therapy devices market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across the Asia-Pacific region is expected to register the highest CAGR of 7.9% during the forecast period. However, the market across North Americaheld the largest share in 2019, accounting for two-fifths of the market.

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The global negative pressure wound therapy devices market report includes an in-depth analysis of the major market players such as ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Ltd., Smith & Nephew Plc., 3M (Acelity L.P. Inc.,), ConvaTec Group Plc., Cardinal Health, DeRoyal Industries, Inc., Devon International Group, Investor AB (Mölnlycke Health Care AB), and Olle Larsson Holding AG (Medela AG).

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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