Disposable Negative Pressure Wound Therapy Devices Market CAGR to Grow at 10.6%

Posted by Pradnya Kulkarni on March 17th, 2018

According to latest report published by Future Market Insights titled ‘Global Disposable Negative Pressure Wound Therapy Devices Market’, the market is poised to expand at 10.6% CAGR over the forecast period of 2017–2027.

The global market for disposable negative pressure wound therapy devices is expected to exceed US$ 418.2 Mn by 2027 end, attesting the highest growth rate by Western Europe, which is expected to expand at 11.8% CAGR over 2017–2027. Increasing per capita healthcare expenditure in North America is expected to push the market growth. Asia Pacific and MEA regions are the highest population regions. The rapidly developing health care infrastructure and increasing awareness programs in these regions is expected to play an important role in driving growth of global disposable NPWT devices market.

Disposable negative pressure wound therapy devices product type includes, disposable NPWT with canister and disposable NPWT without canister. The global disposable negative pressure wound therapy devices market has been segmented on the basis of product type, end user and regions. Globally, disposable NPWT with canister product segment stands the most attractive product form among product type. Among all end users of disposable NPWT devices home care settings is expected to be the most lucrative end user, followed by hospitals.

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In terms of value, global disposable negative pressure wound therapy devices market is expected to expand at 10.6% CAGR over the forecast period of 2017–2027. With nearly 50%-53% market share, North America dominated global disposable negative pressure wound therapy devices market in 2016, partly due to rise in incidence of chronic disorders. Moreover, the existing players in these markets have already raised awareness through their marketing campaigns as compared to other countries, which in turn, increases the growth opportunities for the existing and new players within the North America disposable negative pressure wound therapy devices market. Western Europe, is the second largest market globally, is expected to be valued at US$ 102.2 Mn by 2027, with U.K., France and Germany being countries with significant growth rates. APEJ is expected to the third largest market for disposable negative pressure wound therapy devices.

Key Research Findings

• Disposable negative pressure wound therapy devices are used in applications like pressure ulcers, diabetic foot ulcers, venous leg ulcers, burn wounds and others. Disposable negative pressure wound therapy devices is expected to create incremental opportunity of US$ 265.8 Mn between 2017 and 2027

• When compared to other established markets such as North America, APEJ and Western Europe disposable negative pressure wound therapy devices market is expected to witness fast and steady growth, partly due to the rising government support, increasing demand for advanced wound care in home care settings.

Market for disposable negative pressure wound therapy devices is highly fragmented with few players’ operating in global market. Some of the players identified in global disposable negative pressure wound therapy devices market are Smith and Nephew PLC., Cardinal Health Inc., Acelity (Kinetic Concepts, Inc.), ConvaTec Inc., Medela and others. In order to increase market coverage, it is essential to increase close collaborations with local distributers as these partnerships allow firms to grow.