Negative Pressure Wound Therapy Market

Product Launches and Expansions Major Growth Strategies Adopted by Key Players in the NPWT Devices Market

The negative pressure wound therapy devices market is expected to reach USD 2.72 billion by 2023 from USD 2.11 billion in 2018, at a CAGR of 5.2%. The growing prevalence of diabetes, rising spending on chronic and surgical wounds, and increasing government initiatives to prevent surgical-site infections are some of the factors expected to drive market growth during the forecast period.

The NPWT devices market is consolidated in nature, with a few players offering a variety of products. The major players in this market are Acelity (US), Smith & Nephew (UK), Mölnlycke Health Care AB (Sweden), Cardinal Health (US), ConvaTec (UK), and DeRoyal (US), Lohmann & Rauscher (German), Talley Group (UK), Medela (Switzerland), and Genadyne (US) amongst others.

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The key strategies followed by most companies in the NPWT devices market are product launches, acquisitions, and expansions. These strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018. Some of the leading players who adopted this strategy include Acelity (US), Smith & Nephew (UK), and Mölnlycke (Sweden)

Acelity dominated the NPWT devices market in 2017. It is an innovation-centric company that develops new products by identifying the unmet needs of patients and caregivers. Acelity has a robust portfolio of NPWT devices, which includes the V.A.C.Ulta, VeraFlo, InfoV.A.C, ActiV.A.C., and V.A.C.Via. The company is a pioneer in NPWT devices and has a market presence of more than 15 years, which provides it a competitive edge over other players. In 2017, the company launched the world’s first single-use NPWT system “PREVENA DUO System.” This system is specifically designed for the simultaneous management of two closed surgical incisions.

Smith & Nephew held the second position in the NPWT devices market in 2017. A well-established product portfolio helped the company maintain its leading position in the NPWT devices market. The company is extremely focused on the organic growth strategies. The company focuses on product launches to strengthen its wound care product portfolio and enhance its presence in the market.

Related Reports:

Negative Pressure Wound Therapy Market by Device Type (Conventional & Single-use NPWT, Accessories), Wound Type (Surgical & Traumatic, Diabetic Foot, Pressure, Venous Leg Ulcers and Burns), End User (Hospitals, Homecare) - Global Forecast to 2023

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Report Code
MD 6656
Published ON
Oct, 2018
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