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Americas Led the Global Negative Pressure Wound Therapy Market in 2015 With 55% Market Share, and Will Retain its Position Until 2020: TechnavioThe global negative pressure wound therapy (NPWT) market is expected grow at a CAGR of 8% during the forecast period, according to Technavio's latest report. In this report, Technavio covers the market outlook and growth prospects of the global NPWT market for 2016-2020. The market is further categorized into three end-user segments, including hospitals and clinics, home care settings, and ASC (News - Alert), of which the hospitals and clinics segment dominated the market with more than 48% of the overall market share in 2015. Paradigm shift Single-use or single-patient use disposable negative pressure wound therapy is gaining popularity in wound care management. The cost of these products is lower than standard NPWT products, which has attracted end-users such as home care settings and hospitals. In Canada, the cost of single-use NPWT is around USD 153, whereas cost of standard NPWT is USD 651. "A pressure ulcer can increase cost burden, based on the severity of the disease. To reduce the cost burden, healthcare systems use NPWT devices, which offer better patient care. Companies such as Devon Medical developed extriCARE NPWT with advanced technology for the treatment of the disease," says Srinivas Sashidhar, one of the lead orthopedics and medical devices research analysts from Technavio. Technavio's research study segments the global NPWT market into the following regions:
Source (News - Alert):Technavio Americas: largest market for NPWT The US was the largest revenue contributor in this region because of the high adoption of NPWT systems in both hospitals and home care settings. In April 2014, a study conducted in São Paulo, Brazil, showed that around 1.5% population have severe chronic venous insufficiency with an ulcer. As the prevalence of diabetic foot ulcer and venous leg ulcers is increasing, the demand for NPWT devices from Tier 1 companies such as Mölnlycke Health Care and Acelity is also increasing. Studies conducted on wireless electroceutical dressing (WED) in conjunction with NPWT can help to reduce the cost of treatment, which can increase the adoption of NPWT. "The NPWT market is growing due to its increased use in developed countries in the Americas such as Canada and the US. Government initiatives to raise awareness about chronic diseases such as diabetes helped to grow the market. If no effective treatment is provided, diabetes can lead to foot ulcers and later to foot amputation," says Srinivas. Healthcare reforms in the US are resulting in a reduction of unnecessary readmissions to hospitals. As a result, hospitals can buy better quality products to improve the quality of life of individuals. Advances in technology are also contributing to market growth. In addition, countries in Latin America such as Mexico and Brazil are experiencing significant economic growth, thereby providing better access to healthcare facilities. Ask sample report: http://goo.gl/QL8Dfz Growing adoption of NPWT in EMEA fueling the NPWT market In Germany, a study conducted in March 2016 showed that chronic wound accounted for over 192,000 cases in 2012. Along with Tier 1 companies, Tier 2 and small companies such as Poly Novo and Devon Medical are also trying to penetrate in the market. According to the OECD 2015, the cases of hospital admission for diabetic patients in Austria, Israel, Denmark, and Belgium were low, owing to the growing awareness in these countries about diabetes care. Hospitalization of a diabetic patient is linked to the treatment of chronic wounds such as diabetic ulcer and amputation. We believe the growing use of NPWT products has helped in lowering hospital admissions in these countries. NPWT promotes wound healing and reduces the number of dressing changes. However, increased preference for moist dressings and other advanced wound dressings is resulting in the slow adoption of NPWT in EMEA. More clinical evidence supporting the use of NPWT systems is expected to boost their adoption compared with other advanced wound care products such as moist wound dressings and alginate dressings during the forecast period. APAC to post a CAGR of close to 5% during the period 2016-2020 The NPWT market in APAC is growing at a slow rate owing to the lack of awareness about advanced wound care products such as NPWT. Strong presence of Tier 1 companies such as Acelity and 4L Health in Japan and China, respectively, will boost the growth of the market. Factors such as improved healthcare infrastructure, increased prevalence of lifestyle diseases leading to surgeries and chronic illness, and growing confidence of physicians in NPWT systems are contributing to the growth of the market in this region. However, a lack of awareness about NPWT systems, shortage of trained practitioners, and the high cost of devices are the major constraints for the growth of the market. The top vendors in the global NPWT market highlighted in the report are:
The other prominent vendors in the market are:
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Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160810005009/en/ |
