Negative Pressure Wound Therapy Devices Market ? Global Industry InsightsPosted by Pareesh on August 31st, 2017 Negative Pressure Wound Therapy Devices – A Panacea for High-risk Wounds Following a surgery, incisions are usually closed using sutures, staples or adhesives. However, in case of chronic wounds, where the risk of infection is high, wound may be left open to heal from ‘bottom-to-top’. In such cases, treatment options include wound dressings and use of negative pressure wound therapy (NPWT) devices. NPWT removes tissue fluid and any debris from the wound, and tightly covers the wound with the dressing. This therapy is touted to provide early recovery and relief from pain. Increasing awareness and availability of reimbursement has been the major driving factors for adoption of NPWT devices especially in developed economies such as the U.S., Canada, Germany, Netherlands, Sweden, and Switzerland. Request a sample copy of this report: https://www.coherentmarketinsights.com/insight/request-sample/103 The Centers for Medicare and Medicaid Services (CMS) amended the reimbursement law for NPWT device effective January 2017. According to the new guidelines, the insurance coverage of NPWT device and service has been shifted from Home Health Prospective Payment System (HH PPS) to the Medicare Hospital Outpatient Prospective Payment System (OPPS). Moreover, the World Health organization (WHO) announced a new guideline for treatment of surgical site infections in November 2016. According to this guideline, the WHO recommends the use of prophylactic negative pressure wound therapy devices (NPWT) in closed surgical incisions in high-risk wounds. This is expected to support the growth of global negative pressure wound therapy devices market in near future. The global negative pressure wound therapy devices market was valued at US$ 1,626.3 million in 2015 and is expected to expand at a CAGR of 5.5% during the forecast period (2016 – 2024). Increasing prevalence of chronic wounds to fuel the demand in global negative pressure wound therapy devices market According to the American Diabetes Association (ADA), diabetic foot ulcers costs the public and private payers in the U.S. US$ 9 billion – US$ 13 billion annually, in addition to diabetes treatment costs. Moreover, a study published by the ADA in 2014 found that the incidence of diabetic foot ulcers in the U.S. was 3.8% among the Medicare insured diabetic patients and 5.0% among privately insured diabetic patients. A study published in the Indian Journal of Health Sciences and Biomedical Research in 2015 revealed the prevalence of foot ulcers among diabetic patients in India to be 3%. With over 420 million diabetic patients globally (WHO, 2016), prevalence of 3% - 5% amounts to a sizeable population, highlighting the underlying potential of NPWT devices. Ask for customization: https://www.coherentmarketinsights.com/insight/request-customization/103 Prevalence of leg ulcers and other chronic wounds increases with age. Though prevalence of venous leg ulcer is less, cost of treatment remains a burden on the economy. For instance, prevalence of venous leg ulcers in the U.K. is 0.1%-0.3% in the U.K. (Patient Platform Limited); however, treatment costs add up to US$ 506 – US$ 760 million (£400 million – £600 million) annually. Use of NPWT can greatly reduce the cost of treatment of chronic wounds, as the frequency of change in dressings reduces and also the device can serve for up to a month of therapy duration. This would favor the negative pressure wound therapy devices market growth in near future. Utilization of new technologies to improve clinical outcomes to favor the manufacturers in the global negative pressure wound therapy devices market Connate Group plc, launched Avelle system, its first NPWT device, in August 2016. This device is based on a proprietary AQUACEL technology that prevents periwound maceration and is a canister-less disposable system with a 30 day usability period. Smith & Nephew plc, received the 2016 French Galien award for its PICO NPWT device. PICO being a single-use NPWT device, significantly reduces overall cost of treatment and the care needed for individual patients with chronic wound compared to conventional wound therapies (sutures, dressings, etc.). Such technologies with improved patient outcomes provides a competitive advantage to marketers of NPWT device and gain share in the global negative pressure wound therapy devices market. Click here to know more about this publish report: https://www.coherentmarketinsights.com/market-insight/negative-pressure-wound-therapy-devices-market-103 About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Like it? Share it! More by this author |