The Global Negative Pressure Wound Therapy Market is majorly driven by advancement in wound therapy technology, according to our research report “Global Negative Pressure Wound Therapy Market Outlook 2023”. The global Negative Pressure Wound Therapy market is segmented into end-user such as hospitals and homecare settings. Among these segments, hospitals are expected to be the fastest growing market owing to adoption of advanced wound therapies in order to provide effective treatment.
The global negative pressure wound therapy market is predicted to flourish significantly at a CAGR of 6.4% over the forecast period i.e. 2016-2023. Moreover, the market of negative pressure wound therapy accounted for USD 1.12 Billion in 2015.
North America accounted the highest market share in terms of revenue in overall market of negative pressure wound therapy across the globe owing to introduction of favourable re-imbursement policies in the region.
Introduction of electrically operated negative pressure wound therapy with the purpose to cater cost-effective and better wound care to the patients. The conventional wound therapies are operated mechanically which are less efficient as compared to advanced NPWT, thus propelling the demand for negative pressure wound therapy globally.
Rise in Aging Population:
Increase in aging population coupled with higher risk of chronic diseases such as diabetes, mellitus, etc. which leads to chronic wounds, rising cases of skin ulcers due to less focus towards hygiene and growing awareness towards advanced healthcare therapies are some of the factors driving the market of NPWT across the globe.
However, high cost of treatment by NPWT, lack of awareness in under-developed nations, presence of complexities with NPWT devices, availability of low cost substitute therapies and lack of skilled healthcare physicians are some of the factors likely to restraint the market of NPWT market across the globe.
The report titled “Global Negative Pressure Wound Therapy Market Outlook 2023” delivers detailed overview of the Global Negative Pressure Wound Therapy Market in terms of market segmentation by Product Type, by End-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the vendors of the Global Negative Pressure Wound Therapy Market which includes company profiling of BSN Medical, Carilex Medical, ConvaTec, etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the Global Negative Pressure Wound Therapy Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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