DUBLIN, Aug. 18, 2023 /PRNewswire/ — The “Europe Negative Pressure Wound Therapy Market – Focused Insights 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The European negative pressure wound therapy (NPWT) market is on a growth trajectory, poised to achieve a value of $880 million by 2028 from its current valuation of $590 million, demonstrating a robust Compound Annual Growth Rate (CAGR) of 6.9%.
This comprehensive report delves deep into the intricacies of the entire NPWT market in Europe, offering exhaustive insights into the shifting landscape towards the adoption of innovative products in the region.
A key factor influencing the slower uptake of NPWT products within the market is the necessity for reimbursement in certain European countries. The study encompasses a comprehensive overview of the continuous influx of new product launches by major industry players aiming to secure a larger market share. This trend is further propelled by a consistent rise in the number of individuals falling within the target population category, thereby catalyzing market expansion.
The economic implications of wound care in Europe are substantial, ranging from $6500 to $8000 per wound per year. In response, healthcare institutions are initiating multifaceted strategies and regulatory frameworks aimed at mitigating this economic burden while fostering the adoption of advanced wound care products, leading to quicker recovery times and reduced re-admissions.
Notably, awareness among wound care specialists is on the rise, leading to collaborations between specialty wound care hospitals and larger medical facilities, resulting in enhanced patient care and outcomes.
- The number of diabetics, obese patients, and patients with co-morbidities is increasing constantly in Europe. This leads to an increase in pressure ulcers and prolonged healing of wounds. The increasing target population will drive the demand for NPWT in the European market.
- Conventional NPWT market has a higher contribution as it has a higher adoption rate among healthcare professionals. The hospitals and wound care clinics are major end-users of NPWT products and constitute for major market share
- Improper reimbursement for the NPWT is one of the major reasons for the slower adoption of products in developed markets like Italy, France, and the UK
- The awareness among people of wound care is very low. People prefer conventional treatments and choose not to go for advanced treatments. This is a major limitation for the adoption of NPWT treatments in Europe
- There is a constant increase in the number of surgeries performed in European countries. Increasing access to healthcare settings is increasing the number of elective surgeries. This will increase the demand for NPWT products in the market.
No. of Pages
2022 – 2028
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2028
Compound Annual Growth Rate
- Market Dynamics
- Competitive Landscape
- Key Vendors
- Other Prominent Vendors
- Strategic Recommendations
- Quantitative Summary
Other Prominent Vendors
- Alleva medical
- Cardinal Health
- Lohmann & Rausch
- Talley Group
- Traiage Meditech
SEGMENTATION & FORECAST
- Conventional NPWT
- Single Use NPWT
- Wound Care Clinics
- Chronic Wound
- Acute Wound
For more information about this report visit https://www.researchandmarkets.com/r/z0dxsn
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/europe-negative-pressure-wound-therapy-market-analysis-report-2023-2028-economic-impact-and-innovations–rising-awareness-and-collaborations-fuels-adoption-and-growth-301904487.html
Images courtesy of https://pixabay.com