Negative pressure wound therapy is a part of advanced healthcare and is a globally growing market that is finding greater scope in all key regions. It involves the use of lowered atmospheric pressure around a wound while it is inside a strictly closed wound drainage system. The negative pressure inside the system is often maintained using mechanical or – more recently – electrical pumps that provide the necessary suction. These pumps commonly work on the systems through connecting tubes specially designed to suit the related wound dressing equipment. The two types of wound dressing used in negative pressure wound therapy are gauze dressings and foam dressings. The selling point of negative pressure wound therapy is that it helps reduce the healing time for a wound by a significant amount. It can also be used to heal chronic wounds that are otherwise complicated to take care of.
The global negative pressure wound therapy market is expected to expand at a 6.6% CAGR from 2016 to 2024. A considerable portion of this accelerated growth rate is attributed to the growing demand for negative pressure wound therapy in emerging economies.
Disposable NPWT Devices in High Demand
The global negative pressure wound therapy market is predominantly divided into two segments when based on product type: conventional devices and single-use devices. The latter – also known as disposable devices – are a relatively new addition to the global negative pressure wound therapy market and have yet to find themselves in the commercial spotlight. Conventional negative pressure wound therapy devices have so far been extremely popular, thereby cutting out the exposure level available to their disposable counterparts.
However, the trend in the healthcare sector is changing, owing to a multitude of factors. The foremost factor augmenting the demand for disposable negative pressure wound therapy devices is the growing prevalence of hospital acquired illnesses. Nosocomial infections are taken very seriously, especially in developed economies, and organizations take all steps necessary to reduce the chances of a patient’s condition getting complicated through additional illness. Additionally, disposable negative pressure wound therapy devices are becoming increasingly affordable and improving significantly in terms of utility and quality, thus providing this segment a greater preference.
APAC Gains Share in Global Negative Pressure Wound Therapy Market
North America has so far been the leading force in the global negative pressure wound therapy market, in terms of demand, key player prominence, and rate of research and development efforts being undertaken. This region holds a very high percentage of patients suffering from chronic wounds, owing to the growing cases of chronic diseases coupled with the rising geriatric demographic. However, Asia Pacific is expected to gain a considerable amount of speed in terms of its growth in demand for negative pressure wound therapy. This region is showing a fast rate of evolution of its healthcare infrastructure, along with a growing expenditure on healthcare. The region is also showing a massive increase in its patient pool in need of wound therapy owing to improving economies and growing medical outreach.
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The key players in the global negative pressure wound therapy market currently include Smith & Nephew, ConvaTec Inc., Kinetic Concepts, Inc., Medela, Mölnlycke Health Care, Paul Hartmann AG, and Coloplast Corp.