Negative pressure wound therapy (NPWT) is a versatile healing technique to accurately address persistent wounds and scars such as acute and chronic wounds. Chronic wounds are categorized as the ones which show slow or no healing for prolonged period, sometimes as long as three months and above. Chronic wounds are accounted to trigger substantial mortality and morbidity instances and thus continue to incur perilous conditions amongst patient population. Growing number of chronic disease occurrences along with associated implications are likely to foster rapid adoption and growth in gl
Negative pressure wound therapy (NPWT) is a versatile healing technique to accurately address persistent wounds and scars such as acute and chronic wounds. Chronic wounds are categorized as the ones which show slow or no healing for prolonged period, sometimes as long as three months and above. Chronic wounds are accounted to trigger substantial mortality and morbidity instances and thus continue to incur perilous conditions amongst patient population. Growing number of chronic disease occurrences along with associated implications are likely to foster rapid adoption and growth in global negative pressure wound therapy market. Several chronic conditions such as diabetes and cancer negatively hamper body's natural healing process and immunity mechanism, thus turning minor wounds into critical chronic ones.
The prognosis of chronic wounds is often attributed to infection, which singlehandedly prohibit normal anatomical functions. Diseases such as diabetes foot or osteomyelitis is often interlinked with diabetes severity which affects healthy tissues and bone, thus also resulting in amputation.
Lack of Skilled Workforce Remain Significant Growth Deterrents
Besides wound severity and growing patient population favorable funding schemes as well as government investments in healthcare are likely to sustain onward growth spurt in global negative pressure wound therapy market. Therefore, need for effective therapeutics protocol is essentially to curb economic and emotional burden of human wounds. Factors as such as further pushing boundaries in NPWT market with novel investments in technological developments. Mindfulness towards affordable pricing of devices is expected to boost adoption across emerging economies, thus propelling growth in global negative pressure wound therapy (NPWT) market.
The benefits of negative pressure wound therapy are ample, such as optimum moisture retention, quick healing prognosis, infection arrest, improved pain management as well as fewer mobility challenges. However, NWPT market is likely to witness certain bottlenecks such as inadequate and unskilled expertise that in most cases result in suction loss and inappropriate sealing, thus visibly thwarting healing process. These aforementioned factors therefore are estimated to dent growth if remained unaddressed.
Favorable Reimbursement Policies to Accelerate Reliance on Disposable Negative Pressure Wound Therapy Vertical
Notable advances such as US based Medicare's imminent reimbursement policies are anticipated to reflect favorably towards greater adoption of disposable negative pressure wound therapy products. Single use or disposable negative pressure wound therapy devices are gaining prominence owing to their improved healing capabilities in chronic exuding wounds. The device is available in both variations of canister free and attached, thus offering convenient portability and thus are ideal for both homecare and hospital applications.
The benefits pf portable or single use disposable negative pressure wound therapy devices are many. Some of the clear advantages include its convenient patient friendly design, silicone dressings that manipulate easy fluid removal. Convenient application and an in-built air locking system that regulates balanced airflow further leverages healing. Improved design technology makes disposable single use negative pressure wound therapy devices ideal for applications across the neck, knee, and shoulder.
3M Acquisition Deal of Acelity Likely to Enhance Portfolio with Novel Disposable variant Addition
Advances in adoption, favorable reimbursement policies as well as improved homecare treatment policies are expected to trigger diverse marketing strategies such as mergers and acquisitions besides portfolio differentiation to sustain long term profits. In this regard, leading NPWT market participant, 3M Company is gaining tremendous headway on the back of its high end acquisition deals of Acelity, thus reinforcing its leading stance globally with rapid penetration. 3M is highly valued for its expertise in NPWT and the aforementioned deal is expected to further enhance its offerings with novel additions such as disposable NPWT devices.
Further, market players are also aiming product refurbishments. In contemporary times, besides portability, NPWT devices are designed canister free and also operate discretely to eliminate noise.