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IN THE NEWSJuly 14, 2021: The Hartmann Group is collaborating with Allianz Arena to become an official hygiene partner for the 2021-2022 season.
October 27, 2020: Pensar Medical is introducing MicroDoc, which is the newest addition to its line of negative pressure wound therapy systems (NPWT), and claiming the device to be perfect for lower exuding wounds.
The global negative pressure wound therapy (NPWT) market is estimated to garner ~6% CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of chronic wounds, such as, diabetic foot ulcers and venous legs wounds. Negative pressure wound therapy (NPWT) is a sealed system for wound care and is specifically indicated for acute complicated and persistent wounds. Moreover, the negative pressure wound therapy renders numerous benefits such as, earlier hospital discharge, fewer wound dressing changes, and less need for surgery. On the back of the myriad benefits of the NPWT method, the global negative pressure wound therapy (NPWT) market is expected to grow during the forecast period. Furthermore, the data released by the World Health Organization states that about 422 million people have diabetes worldwide and it has been estimated diabetic foot ulcers would appear in 15% of the patients with diabetes. Negative pressure wound therapy is considered to be an efficient treatment for diabetic foot ulcers. Hence, on the back of the rising number of patients with diabetes the global negative pressure wound therapy (NPWT) market is estimated to grow during the forecast period. Moreover, the report published by National Center for Biotechnology Information claims that globally 310 million major surgeries are performed each year. Hence, the number of patients with surgical wounds is also prevailing. On the back of a rising number of patients with surgical wounds, the global negative pressure wound therapy (NPWT) market is expected to grow during the forecast period.
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The market is segmented by wound type into diabetic wounds, skin burns, pressure ulcers, surgical wounds, and venous legs wounds. Out of which, the diabetic wound segment is anticipated to hold the largest share in the global negative pressure wound therapy (NPWT) market on account of the rising number of patients with diabetes. Diabetic foot ulcers may appear in diabetic patients and negative pressure wound therapy (NPWT) is an efficient method to treat such wounds. Owing to this, the segment is estimated to witness remarkable growth during the forecast period.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global negative pressure wound therapy (NPWT) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness modest growth over the forecast period on the back of the presence of well-established healthcare infrastructure. The data published by the Centers for Medicare & Medicaid Services, the United States government is spending USD 4.1 trillion or USD 12, 530 per person. On the back of the availability of ultra-modern infrastructure, new and advanced technologies such as negative pressure wound therapy (NPWT) would be adopted by health professionals. Furthermore, the report released by the National Center for Biotechnology Information that 2% of the total population is estimated to be affected by chronic wounds. On the back of the increasing number of patients with chronic diseases, the global negative pressure wound therapy (NPWT) market is estimated to grow during the forecast period.
Furthermore, global negative pressure wound therapy (NPWT) market in the Europe region is also estimated to witness significant growth during the forecast period on the back of the growing geriatric population. According to the report published by Eurostat, 19.2% of the total population in the Europe region is aged 65 years or above.
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The global negative pressure wound therapy (NPWT) market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global negative pressure wound therapy (NPWT) market includes the following segments
FREQUENTLY ASKED QUESTIONS
The growing cases of chronic wounds are expected to be the major factor driving the growth of the negative pressure wound therapy (NPWT) market during the forecast period.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2021 - 2031.
The major players in the market are Paul Hartmann AG, Lohmann & Rauscher GmbH & Co. KG, Alleva Medical Ltd., and Carilex Medical Group.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by device type, wound type, end-user, and by region.
The diabetic wound sub-segment is anticipated to hold the largest market size and display significant growth opportunities.
Complications associated with the therapy are estimated to hamper the market growth.
The North America region is estimated to provide more business opportunities for growth of the global negative pressure wound therapy (NPWT) market during the forecast period on the back of well-established healthcare infrastructure.
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