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Home » Our Report Repository » Negative Pressure Wound Therapy (NPWT) Market Analysis and Global Forecast (2023-2033) with COVID Impact Analysis
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Negative Pressure Wound Therapy (NPWT) Market Analysis and Global Forecast (2023-2033) with COVID Impact Analysis

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Negative Pressure Wound Therapy (NPWT) Market Research Report: By Device Type (Conventional NPWT, and Single-use NPWT), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Burns & Trauma, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Region — Forecast till 2033

Report Code: EB_LS_1271 | Page: 194 | Published Date: Upcoming

Press Release: https://evolvebi.com/the-negative-pressure-wound-therapy-market-is-estimated-to-record-a-cagr-of-around-6-4-during-the-forecast-period/

 

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Description

Negative Pressure Wound Therapy (NPWT) Market Overview

The Negative Pressure Wound Therapy (NPWT) Market Size is expected to reach USD 6.62 Billion by 2033. The Negative Pressure Wound Therapy (NPWT)industry size accounted for USD 3.49 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.62% from 2023 to 2033.Negative Pressure Wound Therapy (NPWT) is a widely used medical technique that promotes wound healing. It is a non-invasive therapy that uses negative pressure to create a vacuum at the wound site, which promotes blood flow and removes excess fluid, leading to faster healing. NPWT is used in the treatment of chronic wounds, such as diabetic foot ulcers, pressure ulcers, and traumatic wounds. The global NPWT market is expected to grow rapidly over the next few years due to the increasing prevalence of chronic wounds and rising awareness abot NPWT among healthcare providers and patients.

Global Negative Pressure Wound Therapy (NPWT) Market Regional Analysis

COVID-19 Impact and Post-COVID Scenario

The COVID-19 pandemic has had a significant impact on the global Negative Pressure Wound Therapy (NPWT) market. The pandemic has disrupted supply chains, slowed down the production of medical devices, and reduced demand for non-essential medical procedures. As a result, the NPWT market witnessed a decline in growth in 2020.

However, the demand for NPWT devices has started to rebound in 2021, as healthcare systems worldwide are adapting to the new normal. The increasing prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, is expected to drive the demand for NPWT devices in the post-COVID scenario. Additionally, the rising awareness among healthcare providers and patients about NPWT’s benefits is also expected to boost the market’s growth.

Global Negative Pressure Wound Therapy (NPWT) Market Growth Factors

  •       The increasing prevalence of chronic wounds

The increasing prevalence of chronic wounds is a key driving factor for the growth of the NPWT market. Chronic wounds, such as diabetic foot ulcers and pressure ulcers, are prevalent among elderly individuals and patients with diabetes. According to a report by the World Health Organization, diabetes affects over 420 million people worldwide. Diabetes is a leading cause of chronic wounds, and the growing prevalence of diabetes is expected to drive the demand for NPWT devices in the coming years.

Global Negative Pressure Wound Therapy (NPWT) Market Restraining Factors

  • The high cost of NPWT devices is a significant hindrance to market growth

The high cost of NPWT devices is a major restrain for the growth of the market. NPWT devices are expensive, which makes them inaccessible to patients in developing countries, where the prevalence of chronic wounds is high. Additionally, the lack of skilled healthcare professionals who can operate NPWT devices is also a significant challenge. NPWT devices require specialized training, and the shortage of trained professionals is hindering the market’s growth.

Global Negative Pressure Wound Therapy (NPWT)Market Opportunity Analysis

  •     The increasing use of digital technologies in healthcare

The increasing use of digital technologies in healthcare presents a significant opportunity for the Negative Pressure Wound Therapy (NPWT) market. Digital health technologies such as telemedicine and mobile health (mHealth) are transforming the way healthcare is delivered and accessed, and Negative Pressure Wound Therapy (NPWT) such as wearables, remote patient monitoring devices, and mobile health apps are playing an increasingly important role in improving patient outcomes and reducing healthcare costs. Telemedicine allows patients to receive medical consultations and treatment remotely, which can be particularly beneficial for patients living in rural or remote areas, as well as for patients with mobility or transportation issues. Negative Pressure Wound Therapy (NPWT) such as telemedicine equipment and software are critical to enabling telemedicine services.

Global Negative Pressure Wound Therapy (NPWT) Market Segment Analysis

The conventional NPWT segment is expected to hold the largest share of the marketin 2023

Based on the Type, the market has been divided into Conventional NPWT and Single-use NPWT. The conventional NPWT segment is expected to hold the largest share of the market. Conventional NPWT devices are widely used in hospitals and clinics for the management of chronic wounds, as they are effective and cost-efficient. However, the single-use NPWT segment is expected to witness significant growth in the coming years, driven by the increasing adoption of disposable devices, which are safer and more convenient than reusable devices.

Global Negative Pressure Wound Therapy (NPWT) Market Segment Analysis
The diabetic foot ulcers segment is expected to hold the largest share of the market in 2023

Based on Indication, the market has been divided into Diabetic Foot Ulcers, Pressure Ulcers, Burns & Trauma, and Others. The diabetic foot ulcers segment is expected to hold the largest share of the market. Diabetic foot ulcers are a common complication of diabetes, and they require specialized and prolonged care, driving the demand for NPWT devices. The pressure ulcers segment is also expected to witness significant growth, driven by the increasing prevalence of pressure ulcers in elderly and bedridden patients.

The hospital’s segment is expected to hold the largest share of the market in 2023

Based on End-user, the market has been divided into Hospitals, Clinics, Homecare Settings, and Others. The hospital’s segment is expected to hold the largest share of the market. Hospitals are the primary end-users of NPWT devices, as they are equipped with specialized wound care centers and have a higher patient volume. However, the home care settings segment is expected to witness significant growth in the coming years, driven by the increasing trend of home healthcare services and telemedicine, which enables patients to receive specialized care at home.

Global Negative Pressure Wound Therapy (NPWT) Market, Segmental Chart

Negative Pressure Wound Therapy Market

Regional Analysis

Based on region, the market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The area of North America is anticipated to dominate the market for the usage of Negative Pressure Wound Therapy (NPWT), followed by those in Asia-Pacific and Europe.

Regional Coverage:
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Indonesia
    • Australia
    • Malaysia
    • Thailand
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of Middle East & Africa

 

North America Market

The North America region is the leading market for Negative Pressure Wound Therapy (NPWT) due to several factors. One of the key factors driving the NPWT market’s growth in this region is the high prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers. According to the Centers for Disease Control and Prevention (CDC), in the United States alone, more than 29 million people have diabetes, and about 25% of them will develop foot ulcers in their lifetime, driving the demand for NPWT devices.

Moreover, the increasing adoption of advanced wound care products and technologies in the region is driving the NPWT market’s growth. North America is home to several leading players in the wound care industry, who are investing in innovation and launching advanced NPWT devices to meet the evolving needs of healthcare providers and patients.

Asia Pacific Market

The Asia-Pacific region is expected to have the fastest compound annual growth rate (CAGR) for the Negative Pressure Wound Therapy (NPWT) market globally due to several factors.Firstly, the region has a large patient population with a high incidence of chronic wounds, such as diabetic foot ulcers and pressure ulcers. The increasing prevalence of diabetes in countries such as China and India is driving the demand for NPWT devices in the region. Secondly, the increasing healthcare expenditure in the region is driving the demand for advanced wound care products and technologies, including NPWT devices. Governments in countries such as China and India are investing heavily in healthcare infrastructure, and private healthcare providers are also expanding their services, driving the growth of the NPWT market.

Competitive Landscape

The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as Johnson & Johnson, B. Braun Melsungen, Boston Scientific Corporation, and Thermo Fisher Scientific Inc are some of the leading players in the global Negative Pressure Wound Therapy (NPWT)Industry. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.

Key Market Players:

  • ATMOS MedizinTechnik GmbH & Co. KG
  • Cardinal Health.
  • ConvaTec Group Plc.
  • DeRoyal Industries, Inc.
  • Devon International Group
  • Investor AB (Mölnlycke Health Care AB)
  • Olle Larsson Holding AG (Medela AG)
  • Smith & Nephew Plc.
  • Talley Group Ltd.

 

Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players 

On November 2021, Smith & Nephew announced the launch of its PICO 14 Single Use Negative Pressure Wound Therapy System. This new product is designed to provide clinicians with an easy-to-use and cost-effective NPWT solution for patients with surgical and chronic wounds. The PICO 14 features a 14-day wear time, which is longer than previous PICO systems, and includes a new visual indicator to help clinicians identify when the device needs to be changed.

Report Scope:

Global Negative Pressure Wound Therapy (NPWT)Market, by Device Type
  • Conventional NPWT
  • Single-use NPWT
Global Negative Pressure Wound Therapy (NPWT) Market, by Indication
  • Diabetic Foot Ulcers
  • Pressure Ulcers
  • Burns & Trauma
  • Other
Global Negative Pressure Wound Therapy (NPWT) Market, by End-user
  • Hospitals
  • Clinics
  • Homecare Settings
  • Others

Negative Pressure Wound Therapy (NPWT)Market Synopsis:

PARAMETER VALUE
Market Size
·         2023: USD 3.49 Billion
·         2033: USD 6.62 Billion
Growth Rate
·         First 5 Years CAGR (2023–2028): XX%
·         Last 5 Years CAGR (2028–2033): XX%
·         10 Years CAGR (2023–2033): 6.62%
Key Market Drivers
·         The increasing prevalence of chronic wounds
Key Market Restraints
·         The high cost of NPWT devices is a significant hindrance to market growth
·
Market Opportunities
·         The increasing use of digital technologies in healthcare
Key Market Players
·         ATMOS MedizinTechnik GmbH & Co. KG
·         Cardinal Health.
·         ConvaTec Group Plc.
·         DeRoyal Industries, Inc.
·         Devon International Group
·         Investor AB (Mölnlycke Health Care AB)
·         Olle Larsson Holding AG (Medela AG)
·         Smith & Nephew Plc.
·         Talley Group Ltd.

REPORT CONTENT BRIEF:

  • High-level analysis of the current and future Negative Pressure Wound Therapy (NPWT)Industry trends and opportunities
  • Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
  • Historical market size for the year 2021, and forecast from 2023 to 2033
  • Negative Pressure Wound Therapy (NPWT) market share analysis for each segment
  • Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
  • Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
  • To identify and understand the various factors involved in the global Negative Pressure Wound Therapy (NPWT) market affected by the pandemic
  • To provide year-on-year growth from 2022 to 2033
  • To provide short-term, long-term, and overall CAGR comparison from 2022 to 2033.
  • Provide Total Addressable Market (TAM) for the Global Negative Pressure Wound Therapy (NPWT) Market.

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What is the study period of this market?

The study period of the global Negative Pressure Wound Therapy (NPWT) (PQC) market is 2022- 2033

What are the 10 Years CAGR (2023 to 2033) of the global Negative Pressure Wound Therapy (NPWT) market?

The global Negative Pressure Wound Therapy (NPWT) market is growing at a CAGR of ~6.62% over the next 10 years

Which region has the highest growth rate in the market of Negative Pressure Wound Therapy (NPWT)?

North America is expected to register the highest CAGR during 2023-2033

Which region accounted for the largest share of the market of Negative Pressure Wound Therapy (NPWT)?

Asia Pacific holds the largest share in 2022

Major Key Players in the Market of Negative Pressure Wound Therapy (NPWT)?

ATMOS MedizinTechnik GmbH & Co. KG, Cardinal Health., ConvaTec Group Plc., DeRoyal Industries, Inc., Devon International Group, Investor AB (Mölnlycke Health Care AB), Olle Larsson Holding AG (Medela AG), Smith & Nephew Plc., and Talley Group Ltd. are the major companies operating in the Negative Pressure Wound Therapy (NPWT)

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