Surge in the prevalence of chronic diseases such as obesity and type I & type II diabetes, in the last few years, has increased the demand for treatments that involve negative pressure wound therapy devices, which in turn has been highly beneficial for the market growth. At the same time, significant awareness among patients toward the obtainability of economical NPWT devices for example single-use maneuvers and increase in number of fatalities caused by traumas & accidents have supplemented the growth yet more.
According
to Allied Market Research, the global negative
pressure wound therapy devices market is anticipated to generate a whooping CAGR from
2020 to 2027. Over the last decade, there’s also been a steep rise in the
number of geriatric population across the world- the race that are vulnerable
to serious medical conditions giving way to the development of several wound
types, which has boosted the growth of the NPWT devices market in more than one
way. Moreover, the conveniences of innovative and pioneering NPWT devices,
which are highly feasible and easy to use, have made them a preferred choice
among the medical practitioners and the patients alike.
Rapidly
aging population, increase in incidences of chronic conditions, technological
advancements in NPWT devices to deal with complex wounds, and surge in
awareness to reduce healthcare costs drive the growth of the global negative
pressure wound therapy devices market. On the other hand, complications related
to NPWT impede the growth to some extent. However, increased focus toward
advanced treatment protocols and significant unmet needs in wound care are
expected to create multiple opportunities in the industry.
Most
importantly, growing emphasis on the innovations in terms of treatment
protocols and considerable market potential in the developing countries have
paved the way for an array of opportunities in the industry. Advantages
associated with single-use NPWT devices for instance its lightweight nature, superior
settlement insurance, and cutting-edge dressing options have made the key players
bring forth extra specifications including MVTR top film, which permits one-way
evaporation of exudate suspension; and silicone contact, thus letting fluid
card easily and reducing the pain on removal.
The huge patient pool suffering from chronic syndromes such
as diabetes in North America has propelled the huge market growth in the region.
Patients with diabetes are often found with diabetic foot ulcers. And, a
cumulative number of diabetic wounds in individuals is giving way to
significant demand for NPWT expedients. Additionally, positive regulatory setup
for negative pressure wound therapy maneuvers across North America has fostered
the growth of the industry even more.
Covid-19 scenario-
Here, it’s worth stating that the outbreak of the pandemic led
to postponement of most of the elective treatment procedures across the world,
which had a negative impact on the global NPWT devices market, , especially
during the initial phase, since the demand for the maneuvers experienced a
steep decline. However, the market has already started getting back on track.
- The outbreak of the pandemic has made people more cautious about several health measures. And, growing prevalence of chronic diseases such as diabetes & obesity and mounting use of single use devices have boosted the negative pressure wound therapy devices market.
- Still, disruptions in the supply chain are likely to hamper the market to certain extent.
- However,
the industry is quite likely to benefit from the growing awareness about
healthcare.
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