Global Wound Therapy Devices Market 2022-2028
124 pages, November 2018
About this market
With the recent advances in wound therapy devices, the number of indications that can be treated using these devices has expanded. For instance, the development of smaller, single-use disposable pumps have allowed the treatment of many small, surgical wounds in new settings such as short-term home care which was not previously possible with conventional NPWT devices. NPWT can be used as an adjunct to aggressive fluid hydration, control of infection, pain control, nutritional support, surgical debridement, and escharotomy or surgical fasciotomy. It is also being studied for its application in targeted drug delivery and stem cell therapy. In the US, the HBOT Committee of the Undersea and Hyperbaric Medical Society and the US FDA approved HBOT for the treatment of 14 indications. Analysts have predicted that the wound therapy devices market will register a CAGR of more than 7% by 2023.
Market Overview
Increasing prevalence of acute and chronic wounds
The growing prevalence and incidences of chronic and acute wounds is forecasted to drive the growth of the global wound therapy market over the next few years. More than 15,000 people in every million are expected to suffer from a chronic wound once in their lifetime and the rising population of diabetics around world is forecasted to fuel the demand for wound therapy devices during the period of forecast.
High cost of wound therapy devices
The high costs of wound therapy devices coupled with additional costs of disposables such as dressings and cannisters used along with NPWT devices will affect the growth of the global wound therapy devices market.
For the detailed list of factors that will drive and challenge the growth of the wound therapy devices market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be reasonably concentrated and with the presence of a few leading companies including Acelity and Cardinal Health, the competitive environment is quite intense. Factors such as expanding number of indications and the increasing prevalence of acute and chronic wounds, will provide considerable growth opportunities to wound therapy device manufacturers. Acelity, Cardinal Health, ConvaTec, PAUL HARTMANN, Sechrist, and Smith & Nephew are some of the major companies covered in this report.
About this market
With the recent advances in wound therapy devices, the number of indications that can be treated using these devices has expanded. For instance, the development of smaller, single-use disposable pumps have allowed the treatment of many small, surgical wounds in new settings such as short-term home care which was not previously possible with conventional NPWT devices. NPWT can be used as an adjunct to aggressive fluid hydration, control of infection, pain control, nutritional support, surgical debridement, and escharotomy or surgical fasciotomy. It is also being studied for its application in targeted drug delivery and stem cell therapy. In the US, the HBOT Committee of the Undersea and Hyperbaric Medical Society and the US FDA approved HBOT for the treatment of 14 indications. Analysts have predicted that the wound therapy devices market will register a CAGR of more than 7% by 2023.
Market Overview
Increasing prevalence of acute and chronic wounds
The growing prevalence and incidences of chronic and acute wounds is forecasted to drive the growth of the global wound therapy market over the next few years. More than 15,000 people in every million are expected to suffer from a chronic wound once in their lifetime and the rising population of diabetics around world is forecasted to fuel the demand for wound therapy devices during the period of forecast.
High cost of wound therapy devices
The high costs of wound therapy devices coupled with additional costs of disposables such as dressings and cannisters used along with NPWT devices will affect the growth of the global wound therapy devices market.
For the detailed list of factors that will drive and challenge the growth of the wound therapy devices market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be reasonably concentrated and with the presence of a few leading companies including Acelity and Cardinal Health, the competitive environment is quite intense. Factors such as expanding number of indications and the increasing prevalence of acute and chronic wounds, will provide considerable growth opportunities to wound therapy device manufacturers. Acelity, Cardinal Health, ConvaTec, PAUL HARTMANN, Sechrist, and Smith & Nephew are some of the major companies covered in this report.
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