Global Information Inc. would like to present a new market research report, "Negative Pressure Wound Therapy (NPWT) - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2018" by GlobalData.
Rising numbers of diabetics and elderly patients are increasing the demand for Negative Pressure Wound Therapy (NPWT), which is improving the technology on offer, according to a new report by medical intelligence company GlobalData.
The new report* found that the NPWT market is growing thanks to an expanding target population an increasing incidence of mild and severe complex wounds, mainly due to an aging population and a growing incidence of diabetic foot ulcers and venous leg ulcers.
The emergence of a new category of disposable single-use NPWT devices and the entry of the therapy into new markets in the Asia-Pacific region are other major factors behind an increase in market value.
NPWT technology was first introduced in wound care management over 15 years ago, but the therapy was under-used due to lack of patient awareness and physician confidence. However, increasing evidence supporting the treatments superior clinical efficacy and cost-effectiveness is set to inspire market growth during the next five years.
This market has been strongly influenced by increasing physician confidence and a rising target patient population. Large manufacturers such as Kinetic Concepts (KCI) and Smith & Nephew have made efforts to improve awareness of the technology and allow easy access to training resources, boosting its uptake.
Portable NPWT systems have existed for nearly a decade, with disposable NPWT systems emerging in the last two years to increase patient convenience, accessibility and affordability. The first disposable NPWT system, the SNaP Wound Care System by Spiracur, Inc., was approved by the US Food and Drug Administration (FDA) in August 2009. More recently, KCIs V.A.C Via and Smith & Nephews PICO system emerged as key products in this fast-penetrating market for single-use NPWT devices.
The expansion of key manufacturers such as KCI into new markets such as Japan, India and China will also provide a boost to the market. Japans rapidly aging population, the availability of reimbursement, and encouragement from the Ministry of Health, Labor and Welfare (MHLW) to adopt new technologies is expected to result in double-digit growth in this market in the next few years.
The global Negative Pressure Wound Therapy (NPWT) market was valued at around $2 billion in 2011 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 10% to reach $4 billion by 2018.
*Negative Pressure Wound Therapy (NPWT) - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2018
This report provides key data, information and analysis on the global Negative Pressure Wound Therapy (NPWT) market. The report provides market landscape, competitive landscape and market trends analysis, while discussing the key trends affecting the market dynamics.
This report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalDatas team of industry experts.