The research study, titled “Negative Pressure Wound Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, from Transparency Market Research offers key insights into the market. According to this report, the global negative pressure wound therapy (NPWT) market will expand at a marked CAGR of 10.20% during the forecast period from 2014 to 2020. In 2013, the global negative pressure wound therapy market was estimated at US$1.5 bn and by 2020, the market is projected to be worth US$2.9 bn.
Browse the full Negative Pressure Wound Therapy Market (Conventional and Single Use NPWT Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/negative-pressure-wound-therapy.html
The global negative pressure wound therapy (NPWT) market will be driven by the rising geriatric population and growing prevalence of chronic and acute wounds. High incidence of chronic conditions will further drive the global negative pressure wound therapy market. In addition to this, the global negative pressure wound therapy market will benefit from the rising number of novel technologies and products. Furthermore, increasing patient awareness and growing disposable income levels in both developed and developing nations will further fuel the global negative pressure wound therapy market.
Nevertheless, the global negative pressure wound therapy (NPWT) market will be restrained by the reluctance of many consumers to adopt technologically advanced products. Furthermore, the global negative pressure wound therapy market’s growth will be constrained by the high cost of advanced wound care devices. Unfavorable reimbursement policies will also hamper the global NPWT market’s growth.
On the basis of product, the global negative pressure wound therapy (NPWT) market is divided into single use NPWT devices and conventional NPWT devices. Presently, the conventional negative pressure wound therapy devices segment holds the largest share in the global negative pressure wound therapy market. However, the single use NPWT devices segment will progress at a higher CAGR of 17.0% during the forecasting horizon.
Geography-wise, the global negative pressure wound therapy (NPWT) market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Currently, North America is the largest market for NPWT systems due to favorable reimbursement policies, followed by Europe. The Europe NPWT market is driven by the elevated rate of occurrence of transit accidents. Nonetheless, it is Asia Pacific that is projected to witness the highest growth in the coming few years. This regional market is driven by the robust economic development, favorable government policies, and rising demand for technologically advanced wound care products in developing economies.
Players in the global negative pressure wound therapy (NPWT) market will benefit from the market opportunities provided by the growing focus on the development of portable NPWT devices and rising investment in emerging nations. The key players operating in the global negative pressure wound therapy market are ConvaTec, Devon Medical, Kinetic Concepts, Medela, and Smith & Nephew.
The research report on the global negative pressure wound therapy (NPWT) market offers valuable recommendations to market players. According to the report’s analysts, companies need to focus on improving their distribution network to strengthen their market presence. Furthermore, the research study suggests that implementation of the Affordable Care Act in the U.S. will change the dynamics of this regional NPWT market and companies need to keep in mind this factor when forming their business strategies.
Key Segments of the Global Negative Pressure Wound Therapy (NPWT) Market
Global NPWT Market Segments Based on Products:
- Conventional NPWT Devices
- Single Use NPWT Devices
Major geographies analyzed under this research report are:
- North America
- Rest of the World
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