Disposable negative pressure wound therapy devices are compact, user friendly, mobile and easy-to-discard medical equipment. Several companies provide customized therapy options along with a variety of accessories based on patient’s requirement. Growing healthcare sector is highly likely to offer innumerable opportunities for market player offering disposable NPWT devices during the forecast period. According to the Future Market Insights report, the global disposable negative pressure wound therapy device market is estimated to witness robust growth by the end of 2027. The market is expected to register a CAGR of 10.6% during the forecast period 2017 – 2027.
What do you think are the dynamic factors to fortify disposable negative pressure wounds therapy (NPWT) device market?
Several countries are focusing to increase expenditure in their respected healthcare industries in order to integrate technological advancement in existing standard product development. Growing middle class population coupled woth increasing disposable income is likely to increase demand for advance medical product including disposable negative pressure wound therapy devices across the globe. Emerging economies are expected to offer tremendous opportunities for market players to diversify their product portfolio in order to receive market gains for versatile applications especially in hospitals and homecare settings.
As per FMI insights, what is your uptake on developing regions to attain potential opportunities in disposable NPWT market?
According to FMI’s analysis on regional basis, the Asia Pacific excluding Japan (APEJ) is highly likely to witness substantial growth during the forecast period. Growing middle class population in this region is expecedt to increasing spending on healthcare products and medical services. Thereby, growing adoption of disposable NPWT devices in homecare services owing to rising pediatric population is expected to account for valuable market share for disposable NPWT device manufacturers during the forecast period. Other developing regions like Latin America are expected to witness moderate growth in disposable NPWT devices market owing to government initiative to increase awareness pertaining to advance treatment offered for wound care among consumers.
Who, do you think, are the key stakeholders in the global disposable NPWT devices market?
Several renowned market players are actively focusing on product differentiation in order to gain maximum value share in disposable NPWT devices market. Companies are also aiming towards business expansion on international level to attract large customer base across the globe. Key market players such as Acelity (Kinetic Concepts, Inc.), Smith and Nephew PLC., Medela, Cardinal Health Inc., and ConvaTec Inc. are likely to account for nearly 77% of the total value share in disposable NPWT devices market.
How homecare setting has changed outlook of North America disposable NPWT devices market?
Population in North America is witnessing rise in per capita income over the recent past. As a result, spending on health product and service has increase among consumer. Moreover, growing awareness about healthcare services such as homecare settings and initiative like Affordable Care Act has led to increase provision of universal health coverage for resident and convenient access for qualitative care. Increasing incidences of foot ulcers among rising obese population is likely to surge demand for homecare setting and eventually disposable NPWT devices during the forecast period.
Based on rising cases of chronic wounds, how will North American market players find significant growth in disposable NPWT devices sales?
Increasing adoption of disposable NPWT devices has been observed mostly in developed countries such as Germany, the US and the UK among others. Obligation of stringent regulation in providing healthcare services has contributed towards revenue growth of disposable NPWT devices market owing to increasing incidences of chronic wound in these regions. In accordance with the article based on Wound Practice and research, healthcare expenditure pertaining to rising cases of chronic wounds among 6.5 Mn patients has accounted for nearly US$ 25 Bn annually only in the US. Other relevant research studies have indicated that venous insufficiency ulcers account for nearly 50% of the total cases of leg ulcers which results to venous etiology. Occurrence rate of such chronic wound is near to 2 in every 100 patients in a year. Thereby, prevalence of such wounds varies from 0.31% to 0.70% in the US. Based in these factors, disposable NPWT devices market players are highly likely to witness impetus growth during the forecast period.
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