Market Trends of Europe Negative Pressure Wound Therapy Industry
This section covers the major market trends shaping the Europe Negative Pressure Wound Therapy Market according to our research experts:
Diabetic Foot Ulcers are Expected to Witness Growth Over The Forecast Period.
Diabetic Foot Ulcers (DFU) is one of the most common complications associated with Diabetes and are posing a significant burden on several countries across the European region.
Diabetic foot ulcer occurs in approximately 15% of patients with diabetes and therefore the increasing diabetic population in the region is contributing to the dominant share of the segment. For instance, according to the International Diabetes Federation Diabetes Atlas, February 2022 report, an estimated 61 million adults (20-79 years) were living with diabetes in the Europe Region in 2021. The number of adults with diabetes is predicted to rise to 69 million by 2045, an increase of 13%. The surge in the prevalence of diabetes among all ages in the European Region is likely to increase the cases of diabetic foot ulcers in the region which is ultimately projected to augment the segment's growth.
The launches and acquisitions by the market players are likely to augment the market growth. For instance, in April 2021, Noventure, a Spain-based company acquired the Ulkox and Oleoabrax products, based on an Olea Europaea leaf extract wound-healing technology. Such developments are expected to boost the segment growth in the region.
Germany is is Expected to Dominate the Europe Negative Pressure Wound Therapy Market.
Germany is expected to dominate the market owing to factors such as the rising incidence of diabetic foot ulcer cases, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the country.
The approvals, launches, acquisitions, and partnerships by the key market players in the country are projected to boost the market growth. In June 2021, Bactiguard and German company Schülke & Mayr GmbH signed a distribution agreement for Bactiguard’s range of wound care solutions to German hospitals. The collaboration is predicted to augment the demand for wound management in the country and ultimately boost the market growth.
The Federal Statistical Office (Destatis) August 2022 report stated that approximately 22,300 children aged under 15 years were harmed in road traffic accidents in 2021 in Germany. The accidents are associated with developing a wound that requires negative pressure wound therapy for its management which is ultimately boosting the market growth.
Therefore, owing to the aforementioned factors, the studied market's growth is anticipated in Germany.
