The vacuum therapy devices market is expected to register a CAGR of 3.5% during the forecast period. The rising cases of road accidents and the increase in cases of chronic diseases are expected to be the key contributors to the market growth. According to the World Health Organization, every year, around 20 million to 50 million people involved in road accidents suffer from non-fatal injuries. Almost 93% of the world’s fatalities of road injuries are associated with low- and middle-income countries. Also, the rise in stressful sedentary lifestyle accompanied by bad eating habits led to erectile dysfunction, which affects approximately 5% men around the age of 40, according to the report published by the British Society for Sexual Medicine. Furthermore, its guideline recommends vacuum therapy devices as a first line treatment option for erectile dysfunction after radical prostatectomy. Hence, the demand for vacuum therapy devices is bound to increase.
Key Market Trends
Negative Pressure Wound Therapy Segment is Expected to Hold a Major Market Share in the Vacuum Therapy Devices Market
Negative pressure wound therapy uses vacuum devices to decrease air pressure around the wound and pulls out the fluid from the wound. Higher incidence of diabetic foot ulcers is expected to increase the demand for vacuum therapy devices. Foot ulcers are one of the most common complications among diabetic patients. According to the data of 2017 published by the American College of Physicians, the lifetime incidence of foot ulcers in diabetes is around 19% to 34%. Furthermore, according to the study of the Journal of Tissue Viability, 2019, the negative pressure wound therapy was found to be very effective and the clinical outcomes were found to be more successful than the standard treatment.
In addition, chronic injuries due to road crashes are expected to be the the major factors driving the growth of this segment. For instance, according to the data from the European Commission (2017), approximately 34% of road fatalities were observed to be in the age group of 25-49. Hence, the aforementioned factors are expected to fuel the vacuum therapy devices market's growth.
North America is Expected to Hold a Significant Share During the Forecast Period
North America is expected to be a dominant region in the vacuum therapy devices market, owing to the increasing number of road accidents and higher prevalence of chronic diseases, such as venous diseases. According to the Wounds Canada, in 2019, around 35% of people were suffering from venous diseases in Canada and around 1% of these patients are likely to suffer from venous ulcers. Furthermore, according to the Center for Disease Control and Prevention, road accidents are one of the leading causes of death in the United States. Also, more than 2.35 million of people are suffering from chronic injuries due to road crashes in the United States, according to the Association for Safe International Road Travel. Hence, such factors ae driving the need for treatment, and thereby, expected to increase the vacuum therapy devices market's growth in North America.
Competitive Landscape
The key players in the Vacuum Therapy Devices market are Molnlycke Health Care AB, 3M (Acelity LP Inc.), Coloplast Corp., Smith & Nephew PLC, Boston Scientific Corporation, Cardinal Health, Augustus Medical Systems, and Vacurect.
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Key Market Trends
Negative Pressure Wound Therapy Segment is Expected to Hold a Major Market Share in the Vacuum Therapy Devices Market
Negative pressure wound therapy uses vacuum devices to decrease air pressure around the wound and pulls out the fluid from the wound. Higher incidence of diabetic foot ulcers is expected to increase the demand for vacuum therapy devices. Foot ulcers are one of the most common complications among diabetic patients. According to the data of 2017 published by the American College of Physicians, the lifetime incidence of foot ulcers in diabetes is around 19% to 34%. Furthermore, according to the study of the Journal of Tissue Viability, 2019, the negative pressure wound therapy was found to be very effective and the clinical outcomes were found to be more successful than the standard treatment.
In addition, chronic injuries due to road crashes are expected to be the the major factors driving the growth of this segment. For instance, according to the data from the European Commission (2017), approximately 34% of road fatalities were observed to be in the age group of 25-49. Hence, the aforementioned factors are expected to fuel the vacuum therapy devices market's growth.
North America is Expected to Hold a Significant Share During the Forecast Period
North America is expected to be a dominant region in the vacuum therapy devices market, owing to the increasing number of road accidents and higher prevalence of chronic diseases, such as venous diseases. According to the Wounds Canada, in 2019, around 35% of people were suffering from venous diseases in Canada and around 1% of these patients are likely to suffer from venous ulcers. Furthermore, according to the Center for Disease Control and Prevention, road accidents are one of the leading causes of death in the United States. Also, more than 2.35 million of people are suffering from chronic injuries due to road crashes in the United States, according to the Association for Safe International Road Travel. Hence, such factors ae driving the need for treatment, and thereby, expected to increase the vacuum therapy devices market's growth in North America.
Competitive Landscape
The key players in the Vacuum Therapy Devices market are Molnlycke Health Care AB, 3M (Acelity LP Inc.), Coloplast Corp., Smith & Nephew PLC, Boston Scientific Corporation, Cardinal Health, Augustus Medical Systems, and Vacurect.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Note: Product cover images may vary from those shown
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Note: Product cover images may vary from those shown
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