The global negative pressure wound therapy devices market was valued at $2.1 billion in 2012, but is expected to grow at a CAGR of 10.2 percent from 2013 to 2019, to reach an estimated value of $4.2 billion in 2019, according to a new study from Transparency Market Research.
The study, “Negative Pressure Wound Therapy Market (Conventional and Single Use NPWT Systems) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” attributes growth of negative pressure wound care therapy (NPWT) market to the increase in the number of chronic diseases such as diabetes, cardiovascular diseases, and peripheral vascular diseases. The increasing incidence of cancer and neurological diseases has led to long-term bed occupancy of the affected patients, which has increased the incidence rate of decubitus ulcers, as well.
Also, the survey notes that this growing patient need will likely be served in the home. The global growth of the geriatric population has caused a significant financial burden on the healthcare authorities. To manage this situation patients prefer using portable, easy-to-use NPWT devices that may be used as home healthcare devices, which also minimizes the overall cost of hospital stays.
Another key demographic are diabetic patients. According to the American Diabetes Association nearly 26 million children and adults are currently suffering from diabetes, and 15 percent of diabetes patients experience a foot ulcer at some point in their lifetime. The diabetic foot ulcer causes various complications such as ulceration, infection and gangrene thus leading to complex and costly sequel of diabetes. The role of negative pressure wound care therapy has been considered to be a novel therapy for treatment of diabetic foot ulcers, and the significant population of diabetic foot ulcers has boosted the demand for NPWT devices market.
Looking at market segments, the NPWT devices market has been broken into conventional NPWT devices and single-use NPWT devices. Conventional NPWT devices include pumps, canisters, tubes and dressing kits. Conventional NPWT pumps account for the largest market share, but dressing kits are expected to foresee the highest growth rate between 2013 and 2019. That said, single-use NPWT devices are anticipated to grow at the highest growth rate of more than 12 percent from 2013 to 2019.
In terms of geography, North America will continue to be the dominant NPWT market, but other regions will grow. North America accounted for the largest market in the year 2012 followed by Europe. However, Asia Pacific is estimated to have the fastest growth rate owing to rise in chronic diseases coupled with rise in disposable income and growing awareness.
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