Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Wound Therapy Devices Market - A Global and Regional Analysis: Focus on Product, Region, Country-Level Analysis, and Competitive Landscape - Analysis and Forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global wound therapy devices market is on a trajectory of robust growth and is anticipated to reach $6.47 billion by 2030. This market is expected to expand at a compound annual growth rate (CAGR) of 4.42% between 2023 and 2030. Such growth is propelled by the rising geriatric population, higher incidence of chronic diseases and acute wounds, and rising need for advanced devices such as NPWT among patients.
Market Segmentation
Segmentation 1: by Product
- Negative Pressure Wound Therapy (NPWT)
- Hyperbaric Oxygen Therapy (HBOT)
- Offloading Devices
- Electrical Stimulation
- Compression Bandages
Based on product, the wound therapy devices market is led by negative pressure wound therapy (NPWT), which held a 44.47% share in 2022.
Segmentation 2: by Region
- North America: U.S., and Canada
- Europe: U.K., Germany, France, Italy, Spain, Netherlands, Switzerland, Russian Federation, Turkey, Poland, Belgium, Sweden, Ireland, Norway, Austria, Denmark, Finland, Portugal, Czech Republic, Romania, Greece, Slovakia, and Ukraine
- Asia-Pacific: Japan, China, India, South Korea, Australia, Malaysia, and Thailand
- Latin America: Brazil, Mexico, Colombia, Argentina, and Chile
- Rest-of-the-World
Regionally, North America is expected to maintain a dominant position through a steady compound annual growth rate (CAGR) of 3.44% from 2023 to 2030. This sustained growth can be attributed to the region's advanced healthcare infrastructure, widespread awareness of wound management, and a notable increase in chronic wounds among its aging populace. The emphasis on R&D in North America has also facilitated the emergence of innovative wound therapy device products, supported by a strong regulatory environment and healthcare policies favoring advanced wound care solutions.
Latin America and the Rest-of-the-World regions are projected to experience the highest growth rates, with CAGRs of 6.22% and 6.37% respectively, indicating a rapidly expanding market presence. These regions' growth is likely driven by improving healthcare infrastructure, rising awareness of effective wound care, and increasing accessibility to advanced medical treatments. These dynamics underscore the expanding global need for effective wound care solutions and the significant opportunities for market players across diverse healthcare landscapes.
Key Market Players and Competition Synopsis
The global competitive landscape of the wound therapy devices market is defined by the presence of several key players, each contributing to the market's growth through innovation, business expansion, funding, strategic partnerships, and a focus on expanding product portfolios. Leading companies in this space are distinguished by their commitment to research and development, which enables them to introduce advanced wound care solutions that address a range of needs, from basic wound protection to complex wound management scenarios.
Some prominent names established in this market are:
- 3M
- Smith & Nephew plc.
- DeRoyal Industries, Inc.
- AccelHeal
- Sky Medical Technology Ltd.
- Getinge AB
- Medline Industries
- ConvaTec
- Gentell
- GWR Medical
Key Attributes
| Report Attribute | Details |
| No. of Pages | 54 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $4.78 Billion |
| Forecasted Market Value (USD) by 2030 | $6.47 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/qo1x4q
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