Dallas, TX, February 16, 2016 --(PR.com
)-- Therapy device market includes Negative Pressure Wound Care Therapy (NPWT), pressure relief devices, electrical stimulation devices, hyperbaric oxygen therapy, and low intensity laser therapy. These techniques are used to promote healing in acute and chronic wounds. The report analyzes the North American therapy wound care devices market by type, end-user, and geography. On the basis of the type, the North American therapy wound care devices market has been segmented into negative pressure wound therapy (NPWT), pressure relief devices, hyperbaric oxygen therapy, light therapy devices, debridement devices, and other therapy devices. On the basis of geography, the North American therapy wound care devices market is segmented into the U.S., Canada, and Mexico. The North American therapy wound care devices market is estimated to witness a CAGR of 6.9% during the forecast period, 2015 to 2020.
Negative pressure wound care therapy is the largest segment in therapy devices market, accounted for more than 50% share of the market in 2014. NPWT was first launched by Kinetic Concepts, Inc. in 2001. The market has seen substantial growth since then due to favorable reimbursement scenario. Competitive pricing from players such as Smith & Nephew (Blue Sky Medical Technologies), ConvaTec (joint venture with Boehringer Technologies), Innovative Therapies, Inc., Medela, Inc., and NovaSpine LLC, and the ability to treat chronic and acute wounds are the major growth drivers for this market. In addition, growth is witnessed due to an increase in incidence of diabetic ulcers in the U.S., increased awareness of patients, and increased demand for easy-to-use and portable devices for long-term wound care.
The North American therapy wound care devices market accounted for a market share of about 60% of global therapy wound care devices market in 2014. The U.S. held the largest market share of about 75.0% in the North American therapy wound care devices market in the same year. The growth of therapy wound care devices market in North America is majorly attributed to upcoming cost-effective technologies that helps in chronic wound healing in much lesser time.
In-depth market share analysis of the top companies, by revenue, is also included in the report. These numbers are arrived at, based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts, key opinion leaders, such as, CEOs, directors, and marketing executives. In addition, the report also profiles the key market players on various parameters such as, business overview, financial overview, product portfolio, business strategies, and recent developments of the respective company.
Some of the key market players of the North American therapy wound care market are Kinetic Concepts, Inc., Smith & Nephew plc, Hill-Rom Holdings, Inc., ArjoHuntleigh, Medela, Inc., ConvaTec, Inc., and others.
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