subject: Negative Pressure Wound Therapy (NPWT) - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016 [print this page] Negative Pressure Wound Therapy (NPWT) - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
Report Reserve announces inclusion of a new market research report to its premium store.
GlobalData's new report, "Negative Pressure Wound Therapy (NPWT) - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016" provides key data, information and analysis on the global Negative Pressure Wound Therapy (NPWT) market. The report provides market landscape, competitive landscape and market trends information on the Negative Pressure Wound Therapy (NPWT) market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.
The Global Negative Pressure Wound Therapy (NPWT) Market is Expected to Grow at a CAGR of 10% Over the Period 2009-2016
The global Negative Pressure Wound Therapy (NPWT) market, which was valued at about $1.6 billion in 2009, is expected to grow at a Compound Annual Growth Rate (CAGR) of 10% to exceed $3 billion by 2016. The double digit growth expected in this market can be attributed to an expanding target population, growing confidence of physicians in NPWT technology and the entry of the therapy into new markets in the Asia-Pacific. Though this vacuum assisted wound closure technique was first introduced in the market by Kinetic Concepts, Inc. (KCI) in 1996, it has not yet reached its full potential, primarily due to lack of awareness and continuous technological enhancements in alternative wound management therapies. With the release of an increasing amount of clinical evidence supporting the superior clinical efficacy and overall cost-effectiveness of NPWT, this market is expected to offer significant revenue generating potential in the next seven to 10 years.
The expansion of NPWT products into Japan, India and China is further expected to contribute to the growth of this market.
Kinetic Concepts, Inc. Continues to Dominate the Global NPWT Market In Spite of Increasing Competitive Pressure
Negative Pressure Wound Therapy Market, Global, Company Share (%), 2009
Source: GlobalData
KCI continues to dominate the global NPWT market with a market share of 83%. Though the company has been facing increasing competitive pressure in the last three to four years, a strong Vacuum Assisted Closure (V.A.C.) Therapy product line, continuous technological enhancements and years of efforts in driving physician confidence allow it to hold its dominating market share. Smith & Nephew, the second largest shareholder in this market is increasing its focus on the opportunities in this segment to drive its wound care business. With new products in its RENASYS portfolio and added advantage of its global presence in the advanced wound care management business, Smith & Nephew is aligning its efforts to capitalize from high growth opportunities in this market.
Talley Group Limited, ConvaTec, Molnlycke Health Care AB, Prospera, Medela, ArjoHuntleigh Healthcare and Genadyne are among the other companies with products in this market.
Increasing Patient Population, Growth Potential in the Asia-Pacific Region and Rise in Rental Business to Drive the NPWT Market
The global NPWT market is expected to be boosted by the continuously rising incidence of mild and severe wounds, mainly due to rapidly aging population, growing incidence of diabetic foot ulcers and venous leg ulcers and the rising number of accidents and war casualties. While a rise in target customers is a big opportunity for NPWT manufacturers, a large portion of this target population is still underserved by this therapy. Expansion of key players into new potential economies such as Japan, India and China will expand the reach of this therapy to a larger patient pool and boost the market. KCI started its operations in Japan in April, 2010 after receiving final product approval in 2009 and subsequent reimbursement approval in March, 2010. Due to Japan's rapidly aging society, and the availability of reimbursement and better encouragement by the Ministry of Health, Labor and Welfare (MHLW) to adopt new technologies, the NPWT market in Japan is expected to grow at a significant double digit growth rate in the next few years. The NPWT market is also witnessing a shift from a sales-based revenue model to a rental-based business model. Since its entry, the rental model has been effective in ensuring incremental revenue generation by normalizing high equipment purchase cost concerns of customers, increasing adoption of NPWT by larger patient pool and simultaneously ensuring better profit margins for manufacturers.
The US is the Largest Market for NPWT Contributing more than 70% of the Total Revenues
The US, with revenues in excess of $1.1 billion in 2009, is the largest geographical market for NPWT. This market has been strongly driven by increasing physician confidence in NPWT in recent years. Corresponding rise in the target patient population is also triggering the demand for this technology. Growing body of clinical evidence and efforts by large players such as KCI and Smith & Nephew to create awareness of the technology is boosting physician confidence. Segment-wise, the US rental market is expected to see multi-fold growth while the equipment sales and disposables market has been steadily increasing. Unlike several other medical device markets, prospects for the NPWT market is still high, with about 10% growth expected over the period between 2009 and 2016. The optimistic growth prospects in this market are expected to be significantly offset by ongoing healthcare reforms, including proposed Food and Drug Administration (FDA) 510(k) changes, increasing alignment of self-employed doctors with hospitals and a new excise tax to be levied upon medical device manufacturers from 2012. For more details, please vist http://www.reportreserve.com/reportdet.php?company=GlobalData&reportid=13216
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