Wound Therapy Devices Market by Product and Geography - Forecast and Analysis 2020-2024

The wound therapy devices market size has the potential to grow by USD 1.16 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (NPWT devices, HBOT devices, and others) and geography (North America, Europe, APAC, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including 3M Co., Cardinal Health Inc., ConvaTec Group Plc, Genadyne Biotechnologies Inc., H&R Healthcare, Lohmann & Rauscher GmbH & Co. KG, Medela AG, Molnlycke Health Care AB, Paul Hartmann AG, and Smith & Nephew Plc.

Market Overview

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Market Competitive Analysis

The market is fragmented. 3M Co., Cardinal Health Inc., and ConvaTec Group Plc are some of the major market participants. Established companies are focusing on expanding their product portfolios by developing advanced technologies and gaining regulatory approvals for new products. Although the increasing prevalence of acute and chronic wounds will offer immense growth opportunities, the product recalls and complications associated with wound therapy devices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this wound therapy devices market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this wound therapy devices market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• 3M Co.
• Cardinal Health Inc.
• ConvaTec Group Plc
• Genadyne Biotechnologies Inc.
• H&R Healthcare
• Lohmann & Rauscher GmbH & Co. KG
• Medela AG
• Molnlycke Health Care AB
• Paul Hartmann AG
• Smith & Nephew Plc

Wound Therapy Devices Market: Segmentation by Geography

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North America was the largest wound therapy devices market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the strong presence of major key vendors, the increasing adoption of advanced wound therapy devices, the high spending on healthcare infrastructure, the rising prevalence of acute and chronic wounds, and the high adoption of NPWT for wound treatments will significantly drive wound therapy devices market growth in this region over the forecast period.

48% of the market's growth will originate from North America during the forecast period. The US is a key market for wound therapy devices in North America. Market growth in this region will be faster than the growth of the market in other regions.

Wound Therapy Devices Market: Segmentation by Product

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NPWT, also referred to as vacuum-assisted wound closure, is used for a wide range of indications such as diabetic foot ulcers, pressure injuries, surgical wounds, grafts and flaps, traumatic wounds, second and third-degree burns, pilonidal sinus wounds, and necrotizing fasciitis. NPWT devices are available in large, medium, and small sizes. New product launches by key vendors are likely to drive the growth of the NPWT devices segment during the forecast period. Therefore, the wound therapy devices market share growth by the NPWT devices segment will be faster than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the wound therapy devices market size.

Wound Therapy Devices Market: Key Drivers and Trends

The increasing prevalence of acute and chronic wounds is driving the wound therapy devices market. Around 15,000 per every million people in the developed countries experience a chronic wound during their lifetime, which further drives the adoption of wound therapy devices. Moreover, the increasing worldwide prevalence of acute wounds, including surgical wounds and traumatic wounds caused by abrasion, puncture, laceration, and incision, is also positively impacting the wound therapy devices market. The increasing prevalence of acute and chronic wounds is driving the wound therapy devices market growth at a CAGR of almost 5% during the forecast period.

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Wound Therapy Devices Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive wound therapy devices market growth during the next five years
• Precise estimation of the wound therapy devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the wound therapy devices industry across North America, Europe, APAC, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wound therapy devices market vendors

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