North America Negative Pressure Wound Therapy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

North America Negative Pressure Wound Therapy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The North America Negative Pressure Wound Therapy Market size is estimated at USD 1.20 billion in 2024, and is expected to reach USD 1.5 billion by 2029, growing at a CAGR of 4.59% during the forecast period (2024-2029).

The negative pressure wound therapy is considered to be the most preferred choice of treatment, especially for deep acute wounds and persistent chronic wounds including leg ulcers. The topical use of NPWT has been widely studied in the literature over the past 20 years. Most clinical trials have shown the effectiveness of this therapy in the treatment of superficial wounds. Moreover, the localized use of NPWT in infected wounds offers advantages, such as wound drainage, angiogenesis stimulation, proteinase excretion, and decreased local and systemic bacterial load. The increasing prevalence of chronic wounds and diabetic ulcers in the region and technological advancements in the NPWT devices are fueling the market growth.

The United States National Institutes of Health, report published in 2017, states that chronic wounds, or wounds that are slow to heal affect 6.5 million people in the country currently. However, the high cost of the treatment and complications associated with NPWT devices are the major restraints for the growth of the market in the region.

North America Negative Pressure Wound Therapy Market Trends

Diabetic Foot Ulcers are Expected to Witness Rapid Growth in the Market Studied

Diabetic Foot Ulcers (DFU) is one of the most common complications associated with Diabetes and is posing a burden on several countries across the region. According to the Centers for Disease Control and Prevention, 2017, every year about 73,000 amputations of the lower limb not related to trauma are performed on people with diabetes, in the United States. With the increasing rise in the prevalence of diabetes in the region, the foot ulcers are also on a hike, as 10% of people with diabetes have a foot ulcer.

Several studies have revealed that NPWT is helpful in reducing the time it takes wounds to heal. Faster wound healing results in an overall decrease in hospitalization and avoids the additional morbidity of chronic wounds. Hence, due to the efficacy of the NPWT in healing the DFU in less time, the demand for NPWT is increasing despite the high price of it. Added to that, rising incidence and prevalence of DFU across the region are fuelling the segment growth.

North America Negative Pressure Wound Therapy Industry Overview

The North America Negative Pressure Wound Therapy Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players are Molnlycke Health Care, ConvaTec Inc., Cardinal Health, Inc., Smith & Nephew plc, 3M Company.

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