On Augest 1st, 2016, TechNavio - Infiniti Research Ltd. released a NPWT market research report, which recognizes the vendors including 4L Health Co., Ltd. (Foryou Medical Electronics Co. Ltd.) are the Top 4 Vendors in the global NPWT market.
It also presents breakdown analysis based on products (standard NPWT and single-use NPWT), applications (pressure ulcer, diabetic foot ulcer, venous leg ulcer, and burn wounds), end-users (hospital and clinics, ASCs, and homecare setting), and geography (the Americas, APAC, and EMEA).
Overview of the global negative pressure wound therapy (NPWT) market
Market research analysts at Technavio predict that the global negative pressure wound therapy (NPWT) market will grow progressively at a moderate CAGR of approximately 8% by 2020. One of the factors that will drive the market will be the emergence of hospitals with advanced wound care services. A large number of hospitals are investing in the training and acquisition of skilled professional healthcare staffs such as physicians and nurses, which will have a positive impact on wound care management and its services. For instance, Healogics recently acquired Accelecare, which provides full-service wound management solutions to around 140 hospitals and formed a partnership with local hospitals for skilled nursing facilities and caring services for individuals.
The market analyst predicts that the Americas will be the largest market for NPWT and will grow steadily during the forecast period at a moderate CAGR of approximately 7%. Changes in the healthcare sector such as the reduction of unnecessary readmissions to hospitals and the recent increase in availability of optimum quality products will improve the quality of life for patients, which, in turn, will augment the prospects for market growth. Additionally, many vendors in the market will also be investing in research and development of cost-effective products as it will help them to reach a wider customer base.
Competitive landscape and key vendors
The market appears fragmented due to the presence of numerous large, medium, and small-sized companies. The implementation of aggressive pricing, product differentiation, capital support for product, technology advancement, and distribution partnerships will increase the level of competition during the estimated period.
The market analyst at Technavio predicts that the standard NPWT segment will dominate the market and post a CAGR of around 8% by 2020. Development of cost-effective and easy to use products that can be utilized outside of hospital settings, increasing global reach of vendors manufacturing standard NPWT products, and the development of portable NPWT pump systems are few factors that will fuel market growth.
During 2015, hospitals and clinics dominated the market by accounting for approximately 48% of the total market share. The increasing number of trained professionals in the healthcare services and business houses targeting new potential markets, such as Brazil and Mexico, for quality wound care services are aiding in the growth of this market segment.
FORYOU NPWT, FOR YOUR NPWT.
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