07 Nov 2017
Posted in Press Release
The global negative pressure wound therapy market set to reach $1.3bn in 2024
The global negative pressure wound therapy (NPWT) market, valued at $1.2bn in 2017, is expanding at a Compound Annual Growth Rate (CAGR) of 2.1% and is forecast to reach $1.3bn in 2024, according to GlobalData, a leading data and analytics company. Disposable NPWT devices are expected to increase at a CAGR of 8.3% during the forecast period.
The company’s research reveals that NPWT market growth will be driven primarily by increasing awareness of the technique and its various applications. Stand-alone devices are expected to see steady sales in the global market, due to the higher availability of clinical data demonstrating their efficacy; however, portable devices are expected to see relatively fast growth due to an increasing patient preference for lightweight, discreet NPWT devices.
NPWT, sometimes referred to as topical negative pressure therapy or vacuum-assisted wound closure, is an advanced wound management technology that is being used in the treatment of both acute and chronic wounds. The treatment uses a vacuum suction device coupled with a wound dressing to promote wound healing and closure, as well as draw bacteria and foreign debris from the wound.
Disposable, or single-use, NPWT devices represent an emerging technology in this space that is expected to see rapid adoption in all countries where they are launched. The adoption of these disposable devices will be primarily driven by their drastically reduced costs and expanding indications, including surgical incisions.
A spokesperson from the GlobalData Healthcare Analyst team, commented: “Despite the high cost associated with NPWT, physicians recognize the clinical benefits that it can provide over conventional techniques. As the education of physicians improves and they gain access to more robust clinical data, the outlook for the NPWT market looks strong, with room for further product improvement with next-generation devices and accessories.”