Negative Pressure Wound Therapy (NPWT) Devices Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis

The Global Negative Pressure Wound Therapy Devices Market was valued at US$ 1,626.3 million in 2015 and is projected to expand at a CAGR of 5.5% during the forecast period (2016-2024), as highlighted in a new report published by Coherent Market Insights. Better clinical outcomes and faster patient recovery facilitated by NPWT devices significantly drive their adoption.
NPWT devices are used on wounds that are too large or deep to be secured using staples and stitches. Wound therapy is an absolute necessity post-surgery and thus, has a potential application base that includes millions of people undergoing surgery across the globe each day (312.9 million in 2012, WHO). NPWT which works like a vacuum seal, offers faster and safer patient recovery with minimal risk of infection as compared to conventional wound therapy devices such as staples, sutures, and biological dressings. Availability of reimbursement is further fueling demand for NPWT devices, especially in developed economies such as the U.S., Germany, and the Netherlands, to name a few.
Unlike conventional wound treatment systems that need to be replaced every day, NPWT devices need to be replaced just three times a week, significantly reducing patient stress and aiding speedy recovery. Moreover, advancements in technology have led to introduction of canister-less NPWT devices. ConvaTec Group plc, launched its first NPWT device, Avelle, in August 2016. The company launched its product in the U.K., which utilizes AQUACEL technology (prevents periwound maceration) and is a simple, canister-less, disposable system with a 30-day life.
PICO, from Smith & Nephew plc, received the 2016 French Galien Award. PCIO is a single-use NPWT device that significantly reduces total cost and care needed for patients with pressure ulcers, dehisced surgical wounds, diabetic foot ulcers, leg ulcers, and trauma wounds. The Prix Galien award acknowledges advances in pharmaceuticals and medical devices that improves the quality of human life.
In 2016, studies published in the ‘WOUNDS' journal concluded that use of zinc-coated foam and silver-impregnated dressings along with NPWT in complex wound therapy demonstrated better clinical outcomes and faster recovery in patients as compared to conventional wound treatment methods. This further encourages the use of NPWT as an adjunctive therapy in wound treatment. To add to this, use of non-powered or mechanical MPWT devices allows a silent delivery of therapy with a much lighter weight than electrical NPWT devices.
Key takeaways of the negative pressure wound therapy devices market:
• The global negative pressure wound therapy devices market is expected to expand at a CAGR of 5.5% during the forecast period. Better clinical outcomes, reduced total therapy cost and availability of reimbursement are some of the major driving factors for negative pressure wound therapy devices market growth.
• The portable negative pressure wound therapy devices market is expected to gain traction at 5.8% during the forecast period (2016 - 2024). High demand for these devices is mainly attributed to the fact that these provide the flexibility to continue therapy at home.
• Diabetic foot ulcers is projected to be a major revenue contributing application segment, owing to high prevalence of diabetes and lack of proper management of the disease leading to increasing incidence of related foot ulcers
• North America lead the global negative pressure wound therapy devices market with a share of over 50% in 2016. Rapid adoption of new technologies, availability of reimbursement and high patient awareness are factors attributable to its leading market share
• Intense competition is witnessed among the leading players such as Smith & Nephew plc, Devon Medical, Paul Hartmann AG, Talley Group Limited, Coloplast A/S, ConvaTec Inc., Molnlycke Health Care AB, Medela AG, Kinetic Concepts, Inc., and Cardinal Health, Inc.
• Companies are launching devices with advanced technology, offering high convenience and cost benefit to the patients (example PICO by Smith & Nephew plc and Avelle by ConvaTec Group plc).

Thrust Vector Control System (TVC) Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Thrust Vector Control system (TVC) also called as Thrust vectoring is the ability of an aircraft, rocket, or other vehicles to control the direction of the thrust from engine or motor in order to control the attitude or angular velocity of the vehicle. Thrust Vectorin...

Ultra High Molecular Weight Polyethylene Ropes Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Ultra High Molecular Weight Polyethylene (UHMWPE) is odorless, tasteless, nontoxic, and resistant to corrosive chemicals except oxidizing acids having low moisture absorption (Hydrophobic) capacity and low coefficient of friction.  UHMWPE can float in water due t...

Enzyme Linked Immunosorbent Assay (ELISA) Analyzer Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

ELISA analyzer is a fully automated instrument for performing Enzyme Linked Immunosorbent Assay (ELISA). This device is designed to perform in vitro diagnostic tests for autoimmune diseases and infectious diseases such as AIDS. ...

Naloxone Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Naloxone, also referred to as Narcan, is an opioid antagonist that is widely used to reverse opioid overdose completely or partially. Opioid overdose generally causes respiratory depression among people, thus naloxone is used to reverse this adverse effect. Narcan is ...

Global Dual Specificity Protein Kinase TTK Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

A protein kinase is a kinase enzyme that helps in the modification of other proteins by chemically adding phosphate groups to them, which is known as phosphorylation. Dual specificity protein kinase TTK, also known as Mps1, is an enzyme, which is encoded by the TTK ge...

Smoked Eel Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Smoked eels are fishes that are cured by smoking. Foods have been smoked by humans throughout history, however, it was done to preserve the food. Nowadays, preservation of fish is possible by refrigeration or freezing. The smoking of fish adds a unique taste and flavo...

Fallopian Tube Cancer Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Fallopian Tubes also called as uterine tube are pair of tubes, which carry an egg from the ovary to the uterus. Fallopian tube cancer also called as tubal cancer is caused due to uncontrolled growth of cells in fallopian tubes that connect the ovaries and the uterus. ...

Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Peripheral Vascular Devices Market 2018, Forecast to 2023

Published Date : Jun 2018

Peripheral vascular devices are a kind of devices which is used in the treatment of diseased blood vessels outside of the brain and heart. Peripheral vascular devices include peripheral vascular stents, PTA balloon catheter, embolic protection device, aortic stent graft and surgical artificial trans...

Global Peripheral Vascular Devices Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023

Published Date : Jun 2018

Peripheral vascular devices are a kind of devices which is used in the treatment of diseased blood vessels outside of the brain and heart. Peripheral vascular devices include peripheral vascular stents, PTA balloon catheter, embolic protection device, aortic stent graft and surgical artificial trans...

Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Aesthetic Lasers and Energy Devices Market 2018, Forecast to 2023

Published Date : Jun 2018

The aesthetic lasers and energy devices are used for the treatment of sun damage skin, wrinkles and unwanted lesions. It is also used for treating acne and removing tattoos. Increasing incidences of skin damage and rapidly changing lifestyle are additionally propelling the aesthetic lasers and energ...

 

Select Licence :

  • Single User : $4500
  • Multiple User : $7000
  • Corporate User : $10000

Happy To Assist You

Assist you at Worldwide Market Reports

We will be happy to help you find what you need. Please call us or write to us:

Worldwide Market Reports Benefits

Custom Research Solution

Talk to our research consultant to design an exclusive report as per your research needs.

Customer Fulfilment

We aim to fulfil client's research demands with tailored research solutions.

Quick Turnaround Time Reports

We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

360-degree Approach

We cover each industry from supply and demand side with an aim to provide a most holistic research study.