Of late, a significant rise in the demand for negative pressure wound therapy has been observed all over the world. The increasing prevalence of life-threatening health conditions caused acute wounds and the growing awareness regarding the efficiency of negative pressure wound therapy in their treatment have been reflecting positively on the market for negative pressure wound therapy, globally. Apart from this, the technological advancements in the field of negative pressure wound therapy devices in order to develop a lighter and canister-free version of them is also propelling this market substantially.
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In addition, the decreasing length of hospitals stay, thanks to the increasing uptake of negative pressure wound therapy devices in homecare settings, will drive the growth of this market remarkably in the near future. However, the complications associated with these devices, dearth of skilled professionals, and the increasing prominence of parallel therapies with high efficiency in treating chronic wounds may hinder the worldwide market for negative pressure wound therapy to some extent over the next few years.
According to Future Market Insights (FMI), the opportunity in the worldwide market for negative pressure wound therapy, which is likely to cross US$1.8 bn by the end of 2016, is projected to increase at a healthy CAGR of 6.60% during the period from 2016 to 2026.
Advancement in Healthcare Infrastructure to Fuel Uptake of Negative Pressure Wound Therapy in Hospitals
Hospitals, homecare settings, and clinics are the prime end users of negative pressure wound therapy systems across the world. Thanks to the advancements in healthcare infrastructure in various emerging economies, hospitals are expected to emerge as the key end user of negative pressure wound therapy systems, worldwide. The therapy is also gaining prominence in homecare settings due to the cost benefit it offers in comparison with the overall cost of a hospital stay.
North America to Continue its Leading Streak
Latin America, North America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and the Middle East and Africa (MEA) are the prime regional segments of the global market for negative pressure wound therapy. Among these, North America has emerged as the leading contributor to the overall market and is expected to increase its contribution at CAGR of 6.70% between 2016 and 2026. Here is a snapshot of the performance of other regions in the worldwide market for negative pressure wound therapy:
Browse the full Press Release of Global Negative Pressure Wound Therapy Market: http://www.mrrse.com/global-negative-pressure-wound-therapy-report
Some of the leading participants in the global market for negative pressure wound therapy are Mölnlycke Health Care, Smith & Nephew, Acelity, ConvaTec Inc., Medela, PAUL HARTMANN AG, and Coloplast Corp. Product innovation and consolidation initiatives are the key strategies, these companies are adopting for the expansion of their businesses.