According to the report, Negative Pressure Wound Therapy market size is projected reach USD 2.74 Billion by 2026. Global Negative Pressure Wound Therapy market was USD 1.85 billion in 2018 and is anticipated to exhibit a CAGR of 5.1% during the forecast period set between 2019 to 2026. As per the study, there is an increasing incidence of surgical site infections and chronic wounds amongst the masses worldwide. Thus, such factors would affect the market positively in the coming years.
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Key Companies Mentioned In Report:
Medela AG
KCI Licensing, Inc.
Smith Nephew
Lohmann Rauscher GmbH Co. KG
ConvaTec Inc.
PAUL HARTMANN Asia-Pacific Ltd.
Cardinal Health
Talley Group Ltd.
Mölnlycke Health Care AB
Increasing Cases of Diabetic Foot Ulcer to Drive Growth
Nowadays, there exists a large patient pool across the world that are affected by chronic diseases, such as diabetes. Such conditions are further giving rise to diabetic foot ulcers. As per a published report by NHS, for instance, approximately 4.5 million people were affected by diabetes in the U.K. in 2017. Also, around 10.0% of that diabetic population developed foot ulcer at some point in their lives.
Additionally, as the geriatric population is rising, the cases of various conditions and diseases is also up surging. It is, in turn, causing reduced mobility amongst the affected populaces. These would contribute to the vacuum assisted closure devices market growth during the forecast period.
North America to Grow Significantly Stoked by High Treatment Cost
In terms of region, the market is grouped into the Middle East and Africa, North America, Asia Pacific, Europe, and Latin America. Out of these, North America had acquired USD 738.1 million NPWT market revenue in 2018 and is expected to expand steadily in the forthcoming years. This growth is attributable to the high treatment cost and rising incidence of chronic wounds in the U.S. Europe would showcase a slow growth owing to the inadequate reimbursement policies in countries, namely, Italy, Spain, and France.
Asia Pacific, on the other hand, is anticipated to grow significantly by exhibiting a high CAGR. It is likely to occur because of the rising patient pool affected by chronic wounds, as well as an increasing prevalence of chronic diseases. The Middle East Africa and Latin America would show a moderate CAGR on account of the unavailability of favorable reimbursement policies and expensive nature of treatments.
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Global Negative Pressure Wound Therapy Market Segmentations:
By Device
Conventional NPWT
Single-use NPWT
By Indication
Diabetic Foot Ulcers
Pressure Ulcers
Burns Trauma
By End User:
Hospitals
Clinics
Homecare Settings
By Geography
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East Africa (South Africa, GCC and Rest of Middle East Africa)
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