Industry analysts say negative pressure wound therapy is experiencing the highest market growth of any advanced wound care technology sector.
A report published in June by Transparency Market Research shows the global NPWT market was worth an estimated $1.5 billion in 2013. That number is expected to reach $2.9 billion in 2020, achieving a 10.2% compound annual growth rate between 2014 and 2020.
The market for single-use NPWT devices that come without the typical canister is predicted to expand at a 17.7% compound annual growth rate between 2014 and 2020.
According to a report from Companies and Markets, the NPWT sector’s growth can be attributed to the increasing number of elderly patients who require specialized wound care. NPWT is used to treat a variety of ailments often seen in older patients, including diabetic ulcers, pressure ulcers and other chronic wounds.
Higher disposable incomes, increasing access to higher quality medical care and a global spike in the number of injurious accidents are also factors in the NPWT sector’s boom, experts say. NPWT was first introduced in 1997.
From the August 05, 2015 Issue of McKnight's Long-Term Care News