The global negative pressure wound therapy market size is projected to reach USD 2.74 billion by 2026, exhibiting a CAGR of 5.1% during the forecast period.
Pune, India, April 18, 2022 (GLOBE NEWSWIRE) — The global negative pressure wound therapy market size is projected to reach USD 2.74 billion by 2026, exhibiting a CAGR of 5.1% during the forecast period. However, it stood at USD 1.85 billion in 2018. Fortune Business Insights™ published this information in a recent study, titled, “Negative Pressure Wound Therapy (NPWT) Market Size, Share & Industry Analysis, By Device Type (Conventional NPWT, and Single -use NPWT), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Burns & Trauma, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others) and Regional Forecast, 2019-2026.” As per the study, there is an increasing incidence of surgical site infections and chronic wounds amongst the masses worldwide. Thus, such factors would affect the market positively in the coming years.
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3M Acquires Acelity While ConvaTec Receives Clearance from FDA
The market houses several organizations of all sizes. They are at present, focusing on mergers and acquisitions, as well as bagging FDA approvals to gain maximum negative pressure wound therapy market share and strengthen their positions. Below are two of the key industry developments:
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October 2019: 3M, a multinational conglomerate corporation based in the US, announced that it has completed the acquisition of Acelity, a privately held medical device company. 3M also acquired the latter’s KCI subsidiaries worth USD 6.7 billion. This acquisition would aid the former in enhancing its presence in surgical and advanced wound care.
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October 2018: ConvaTec Group plc, an international medical products and technologies company, headquartered in the UK, declared that it received FDA approval for Avelle NPWT system. It aids ConvaTec in entering the competitive US NPWT market. Avelle can be used on a range of moderately-exuding to low wound types, consisting of surgically closed incisions, skin grafts, dehisced and sub-acute, traumatic, acute, and chronic wounds.
Negative Pressure Wound Therapy Devices Market Report Scope & Segmentation
On the basis of product, the conventional NPWT devices segment generated the highest revenue in the global negative pressure wound therapy devices market, owing to the ability of these devices to heal wounds with large amount of exudate. This feature leads to their use in hospital settings where serious chronic and acute wounds are treated
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Report Coverage |
Details |
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Forecast Period |
2019 to 2026 |
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Forecast Period 2019 to 2026 CAGR |
5.1% |
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2026 Value Projection |
USD 2.74 Trillion |
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Base Year |
2018 |
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Market Size in 2018 |
USD 1.85 Trillion |
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Historical Data for |
2015 to 2017 |
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No. of Pages |
115 |
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Segments covered |
By Device Type, By Indication, By Geography |
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Medical Mask Market Growth Drivers |
Rising Prevalence of Chronic Wounds to Drive the Growth of Market |
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Negative pressure wound therapy has evolved over the past few years to offer wound healing at a faster pace. |
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Launch of Technologically Advanced NPWT Devices to Propel Growth |
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Highlights of the Report
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Highly accurate predictions on the upcoming changes in consumer behavior and NPWT market trends.
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Precise presentation of the market size in terms of value.
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Elaborate description of the competitive landscape, including new product launches, clinical trials, investment, contracts, strategic collaborations, agreements, and acquisitions.
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Comparative analysis based on market players’ business strategies.
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Increasing Cases of Diabetic Foot Ulcer to Drive Growth
Nowadays, there exists a large patient pool across the world that are affected by chronic diseases, such as diabetes. Such conditions are further giving rise to diabetic foot ulcers. As per a published report by NHS, for instance, approximately 4.5 million people were affected by diabetes in the UK in 2017. Also, around 10.0% of that diabetic population developed foot ulcer at some point in their lives. Additionally, as the geriatric population is rising, the cases of various conditions and diseases is also upsurging. It is, in turn, causing reduced mobility amongst the affected populaces. These would contribute to the vacuum assisted closure devices market growth during the forecast period.
Rise in incidences of chronic diseases such as diabetes mellitus and obesity majorly drive the market growth. In addition, rise in patient awareness toward the availability of cost-effective NPWT devices such as single-use devices and surge in number of casualties due to accidents & traumas also boost the negative pressure wound therapy devices market growth.
Factors such as rise in geriatric population across the globe, which are highly susceptible to various medical conditions leading to formation of different types of wounds, also boost the growth of the market.
Fortune Business Insights™ lists out some of the most renowned companies operating in the negative pressure wound therapy (NPWT) devices market. They are as follows:
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Medela AG
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KCI Licensing, Inc.
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Smith & Nephew
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Lohmann & Rauscher GmbH & Co. KG
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ConvaTec Inc.
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PAUL HARTMANN Asia-Pacific Ltd.
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Cardinal Health
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Talley Group Ltd.
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Molnlycke Health Care AB
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Other key market players
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