Speak directly to the analyst to clarify any post sales queries you may have.
The economic burden of wound care in the US is approximately $20 billion. The healthcare bodies are introducing multiple strategies, and regulations to reduce the economic burden and to increase the adoption of advanced products for faster recovery and reducing the re-admissions. The awareness among wound care specialists is high in the US. Specialty wound care hospitals have collaborated with large hospitals to provide better care to patients.
MARKET DEFINITION
NPWT is a wound care treatment that can be used for wounds on all parts of the body. It involves the application of negative pressure to the wound, which aids in reducing edema by removing excess fluid. Additionally, this therapy facilitates wound compression, thereby promoting the growth of new healthy tissue and the formation of blood vessels.KEY HIGHLIGHTS:
- The number of chronic wounds in the US is rising steadily. Diabetes, increased age, and obesity are the key factors that contribute to the rising number of chronic wound cases in the US. For instance, in 2018, approximately 52 million people aged 65 and above, and the number is projected to become about 95 million by 2060 in the US. This is increasing the demand for NPWT in the market.
- Conventional NPWT market has a higher contribution as it has a higher adoption rate among healthcare professionals. Hospitals and wound care clinics are major end-users of NPWT products and constitute for major market share.
- Reimbursement for the NPWT is one of the major reasons for the bigger market in the US compared to other developed markets like Germany, France, and the UK.
- As of 2022, there were 2,200 wound care specialty clinics among them 2000 were associated with hospitals in the US. Hospitals have a dedicated working staff to handle wound care, this is one of the major positive steps in the US wound care market. Increasing wound care specialty hospitals are increasing the usage of NPWT products.
- There is a constant increase in the number of surgeries performed in the US. Increasing reimbursement and better access to healthcare settings is increasing the number of elective surgeries. This will increase the demand for NPWT products in the market.
VENDORS LIST
Key Vendors
- Smith+Nephew
- 3M
- Convatech
Other Prominent Vendors
- Cardinal Health
- Carilex
- Cork Medical
- Deroyal
- Genadyne
- Haromed
- Hartmann
- Medela
- Molnlycke
- Lohmann & Rausch
- Pensar Medical
- Talley Group
REPORT HIGHLIGHTS
SEGMENTATION & FORECAST
- Product
- Conventional NPWT
- Single Use NPWT
- End-User
- Hospitals
- Wound Care Clinics
- ASCs
- Others
- Wound Type
- Chronic Wound
- Acute Wound
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape
- Key Vendors
- Other Prominent Vendors
- Strategic Recommendations
- Quantitative Summary
- Abbreviations
Table of Contents
Companies Mentioned
- Smith+Nephew
- 3M
- Convatech
- Cardinal Health
- Carilex
- Cork Medical
- Deroyal
- Genadyne
- Haromed
- Hartmann
- Medela
- Molnlycke
- Lohmann & Rausch
- Pensar Medical
- Talley Group
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 69 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 0.88 Billion |
| Forecasted Market Value ( USD | $ 1.22 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | United States |
| No. of Companies Mentioned | 15 |
