Negative Pressure Wound Therapy (NPWT) Market Assesses the Future Impact of the Propellants, Potential Demands and Restraints on the Market

09/mar/2020 07:00:55 P&S Intelligence Contatta l'autore

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The negative pressure wound therapy (NPWT) market is expected to progress to $ 3.001.3 million value by 2024 from $ 2,057.1 million in 2018, registering at 6.6% CAGR during the forecast period (2019–2024). The key drivers of the market include the increasing geriatric population, rising incidence of burns and diabetes, and growing cases of c-sections, leading to an increasing use of NPWT devices in post-operative care. An advanced wound care technique that applies sub-atmospheric pressure on the wound surface intermittently or continuously is termed as negative pressure wound therapy.

The rising diabetes prevalence across the globe is one of the major contributing factors to the NPWT market growth. The Centers for Disease Control and Prevention said in 2018 that more than 100 million adults were either prediabetic or diabetic in the US Further, according to the International Diabetes Federation, about 82 million adults in the age group of 20–79 in the Southeast Asian region had diabetes in 2017. Diabetic foot ulcer commonly affects such people; therefore, the demand for NPWT systems is expected to increase among them.

 

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The negative pressure wound therapy market players can substantially increase their revenue by targeting developing as well as war-ridden countries. Developing countries lack the safe infrastructure and medical services that are common in developed nations, therefore witness a large number of fire-related injuries. Additionally, many soldiers and civilians are affected in the warzone that a few countries have become, such as Yemen and Syria, which is further leading to the growing requirement for NPWT dressings and devices.

The NPWT market has three types of products available - single-use, conventional, and accessories. In 2018, the highest revenue share of around 51.1% in the market was accumulated by conventional products. This was due to their prevalent use and ready-to-use feature, due to which patients don't have to set up devices on their own. Single-use NPWT devices are projected to exhibit a 7.0% value CAGR during the forecast period owing to their compactness and ease of use. These devices are portable and can also be used in homecare settings by patients.

Hence, the market for NPWT dressings and devices is expected to witness swift growth in the forecast period, as the number of diabetics is increasing across the world, which is resulting in a high demand for such products.

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