The report “Negative Pressure Wound Therapy Market, By Product (Conventional Negative Pressure Wound Therapy and Single-Use Negative Pressure Wound Therapy), By Application (Diabetic Foot Ulcers, Venous Leg Ulcers, Pressure Ulcers, Burn Wounds, and Others), and Region – Global Forecast to 2029” Global negative pressure wound therapy market is projected to grow from US$ 2.2 billion in 2020 to US$ 3.6 billion by 2029. Rising prevalence of diabetes across the globe which caused leg ulcers such as arterial and diabetic foot ulcers is driving the global negative pressure wound therapy market. Further, increasing prevalence of chronic and acute wound which in turn creating demand for advancement in wound care management is propelling the global negative pressure wound therapy market.
• On November 2018, Smith & Nephew plc launched first PICO 7Y portable single-use negative pressure wound therapy system.
• In February 20, 2019, Kinetic Concepts Inc launched “ABTHERA Therapy” is a temporary abdominal closure system that allows surgeons to take control in managing challenging abdominal wall openings where primary closure is not possible and repeat abdominal entries are necessary.
Key Market Insights from the report:
The global negative pressure wound therapy market accounted for US$ 2.2 billion in 2020 and is projected to register a moderate CAGR of 5.3 % over the forecast period. The market report has been segmented on the basis of product, application, and region.
• By product, global negative pressure wound therapy market is segmented into conventional negative pressure wound therapy and single-use negative pressure wound therapy.
• By application, the diabetic foot ulcers segment is largest revenue share in the global negative pressure wound therapy market. This is owing to higher penetration of diabetes across the globe.
• By region, North America negative pressure wound therapy market is expected to account for largest share in terms of revenue in the global negative pressure wound therapy market over the forecast period. This can be attributed to increasing penetration of acute and chronic wound, coupled with rising developed healthcare infrastructure in countries of the region. Asia Pacific negative pressure wound therapy market is expected to account for significant share in terms of revenue in the global negative pressure wound therapy market in the near future.
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The prominent player operating in the global negative pressure wound therapy market include Acelity L.P. Inc, Talley Group Ltd, Smith & Nephew plc, Devon International Group, Inc., Mölnlycke Health Care, Medela, DeRoyal Industries, Inc, Kinetic Concepts Inc, Cardinal Health, Inc, and Paul Hartmann AG.