Negative Pressure Wound Therapy (NPWT) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Negative pressure wound therapy Market

The negative pressure wound therapy market size was valued at USD 1.85 billion in 2018, and the market is now projected tgrow tUSD 3.74 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period of 2019-2026.

The effect of COVID-19 pandemic witnessed mixed trends for Negative Pressure Wound Therapy (NPWT) market. At the onset of COVID 19 and the following measures including postponement of elective surgeries and reduced hospital attendance affected NPWT device demand negatively in the short term. Also, disruptions on the supply side and resource utilisation taddress the COVID-19 menace alshindered market expansion. Nevertheless, the shift towards home care in the management of chronic diseases due tCovid 19 has increased the market demand for portable and disposable NPWT devices for patients’ treatment in home settings. A gradual market growth will alsbe observed as the healthcare systems all over the world restore their functioning, stimulated by the constantly expanding number of chronic wounds and improvements in NPWT technologies and products. These factors kept the negative pressure wound therapy market growth steady.

Growing surgical procedures due tfactors such as the high numbers of surgical site infections, and the growing burden of chronic wounds, are some of the factors contributing tthe high demand for negative pressure wound therapy across the world. For example, the United States National Institute of Health estimated that chronic wounds occur in approximately 6.5 million patients annually within the United States As such, the NPWT devices market growth is highly likely tbe driven by the growing investment by the market players in a bid tdevelop better devices. These factors drive the negative pressure wound therapy market shares.

Another emerging factor small and easy tuse including single-use NPWT devices, portable NPWT devices. These portable systems are simple in design and are ideal for use as outpatients or at home meeting the need for improved effective, affordable wound care solutions for patients. Developments in these devices alsinclude Digital Wound Monitoring assessing the progress of healing, Smart connections where one can monitor the parameters of therapy on a real-time basis. This trend corresponds with the overall trend of decentralisation of patient care and matches the market’s goal of improving patient and provider experience.

Comprehensive Analysis of Negative pressure wound therapy Market

The negative pressure wound therapy market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided int3 Segments, By Devices Type Outlook, By Indication Outlook and By End-User Outlook. Increased transition of patients thome care settings is evident in many countries of North America and Europe. The convenience of having single-use NPWT, including reduced cost, applicability tlow tmoderately exuding wounds, and battery powered pump are anticipated tdrive single-use NPWT usage in the homecare settings across the world. Of the indication, the diabetic foot ulcers segment held the largest share in the negative pressure wound therapy market in 2018. The large market share of this segment can be linked tthe growing population of diabetes type seniors and those with foot ulcers. By end user, the market has been segmented inthospitals, clinic, homecare settings and others. Among the application, the hospitals segment is expected thold the largest market share value throughout the forecast period due tthe rising number of patients with acute or chronic wounds in the hospital setting.

North America was valued at USD 738.1 million in 2018. Higher incidence of chronic wound, combined with the expensive treatment cost in the United States are considered as some of the key factors that contributed tthe larger market share of North American market in 2018. This coupled with the rise in the number of burn patients in the U.S and vast growth in pressure ulcer patients in the country is a major driver tthe growth of the vacuum assisted closure devices in the market.

Smith & Nephew (U.K.), KCI Licensing, Inc. (U.S.), ConvaTec Inc. (U.S.), Cardinal Health (U.S.), Medela AG (Switzerland), Mölnlycke Health Care AB (Sweden), Talley Group Ltd (U.K.), PAUL HARTMANN Asia-Pacific Ltd. (Germany), and Lohmann & Rauscher GmbH & Co. KG (Germany) are significant players in the pharmaceutical market. They are the key player that ensures the industry's success while still having tkeep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In October 2020, the company based in USA, ExtriCARE made an announcement tdevelop an innovative hybrid technology in the nPWT as hNPWT. This new hybrid technology will provide a positive market interference and will take the evolution of the NPWT technology tthe next level.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD billion)

By Device Type

Conventional NPWT

Single-use NPWT

By Indication

Diabetic Foot Ulcers

Pressure Ulcers

Burns & Trauma

Others

By End User

Hospitals

Clinics

Homecare Settings

Others

By Geography

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)