Negative Pressure Wound Therapy (NPWT) Devices Industry Analysis, Size, Growth, Trends and Forecast to 2024
New Study on “Negative Pressure Wound Therapy (NPWT) Devices Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis and Forecast, 2016-2024” Added to Coherent Market Insights Reports Database.
“The global negative pressure wound therapy devices market was valued at US$ 1,626.3 million in 2015 and is expected to expand at a CAGR of 5.5% during the forecast period (2016 – 2024).”
Treatment options for wounds includes application of topical medication, sutures, staples, adhesives, compression therapy, hyperbaric oxygen therapy, biological dressings, and negative pressure wound therapy (NPWT). Negative pressure wound therapy, also called vacuum-assisted wound closure, has gained significant traction over the last decade as it is equally effective in acute and chronic wounds. NPWT is a relatively non-invasive wound therapy and offers various pips other conventional treatment options by facilitating better healing, shorter hospital stay, and fewer wound infections.
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The Centers for Medicare and Medicaid Services (CMS) amended the reimbursement law for NPWT device effective January 2017. According to the new guidelines, the insurance coverage of NPWT device and service has been shifted from Home Health Prospective Payment System (HH PPS) to the Medicare Hospital Outpatient Prospective Payment System (OPPS). Moreover, the World Health organization (WHO) announced a new guideline for treatment of surgical site infections in November 2016. According to this guideline, the WHO recommends the use of prophylactic negative pressure wound therapy devices (NPWT) in closed surgical incisions in high-risk wounds. This is expected to support the growth of global negative pressure wound therapy devices market in near future.
The ‘Negative Pressure Wound Therapy (NPWT) Devices Market Research Report 2016-2024’ is an efficient and detailed study on the present situation by focusing on the global market. Study report offers key statistical information on the market situation of the manufacturers and is a beneficial source of advice and guidance for companies and persons involved in the industry. At the start, the study report offers a basic outlook of the industry containing its introduction, applications, and manufacturing technology. Also, the report scrutinizes the international key market players in-depth.
One of the latest trends gaining significant traction in the market is the increase in R&D activities and the launch of novel Negative Pressure Wound Therapy (NPWT) Devices by the market vendors. Due to the highly competitive nature of the market and the presence of various players, companies are increasingly focusing on advanced technologies to manufacture innovative Negative Pressure Wound Therapy (NPWT) Devices.
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The primary benefits of NPWT such as elimination of edema, providing a moist wound-healing environment, and stimulating angiogenesis and blood flow to the wound is increasing its uptake. Moreover, the new guidelines outlined by the World Health Organization (WHO) in November 2016, recommends use of NPWT in closed-surgical incision in order to reduce risk of surgical site infection. The guidelines also recommends use of portable NPWT devices. Furthermore, increasing prevalence of diabetes (422 million sufferers until 2014, WHO) and increasing number of medical surgeries (312.9 million in 2012, WHO) is expected to drive the market for NPWT globally.
Key companies covered as a part of this study include 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.
This study report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
Reasons to Buy this Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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