Global Negative Pressure Wound Therapy (NPWT) Market Size to Grow at a CAGR of 6.20% in the Forecast Period of 2023-2028
The ‘Global Negative Pressure Wound Therapy (NPWT) Market Price, Share, Size, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global negative pressure wound therapy (NPWT) market, assessing the market on the basis of its segments like product, wound type, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Negative Pressure Wound Therapy (NPWT) Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.20%
The negative pressure wound therapy (NPWT) market is observing a rapid growth owing to the rising prevalence of the chronic conditions, ulcers, and diabetes. The number of diabetic patients are increasing because of reasons such as unhealthy lifestyles, obesity, genetic mutations, and hormonal diseases. This is contributing to the demand for negative pressure wound therapy for the treatment of diabetic ulcers and chronic ulcers.
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Negative pressure wound therapy finds applications for various indications, ranging from treating burns and wounds to chronic infections with the help of vacuum dressings. It is used widely by the healthcare centres and facilities to treat chronic and acute open wounds and heal ulcers, skin flaps, and grafts which can be caused due by hypertension and diabetes. Moreover, open fasciotomy wounds and closed surgical incisions can also be treated with the help of negative pressure wound therapy which is expected to further enhance the growth of the negative pressure wound therapy (NPWT) market .
Furthermore, negative pressure wound therapy is capable of speeding up the healing process of diabetic foot ulcers thereby increasing the demand for NPWT. Apart from speeding up healing, they also give improved results and have achieved a significant success rate in treating foot ulcers. As diabetic foot ulcers are a widely prevalent consequence of diabetes, the demand for the negative pressure wound therapy (NPWT) market is increasing worldwide.
Negative Pressure Wound Therapy (NPWT) Industry Definition and Major Segments
Negative pressure wound therapy is a therapeutic technique that is also commonly known as vacuum assisted wound closure. In this method, sub-atmospheric pressure is applied to help reduce inflammatory exudate and thereby promote the formulation of granulation tissue and healing. It draws fluid from wounds and improves blood flow in order to help with the healing process.
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Based on product, the market is segmented into:
• Conventional NPWT Devices
• Disposable NPWT Devices
• NPWT Accessories
On the basis of wound type, the market is classified into:
• Burns and Surgical and Open Wounds
• Pressure Ulcers
• Diabetic Foot Ulcers
• Venous Leg Ulcers
• Traumatic Wounds
Based on end use, the market is divided into:
• Hospitals and Clinics
• Home Care Settings
• Others
On the basis of region, the market is classified into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Negative Pressure Wound Therapy (NPWT) Market Trends
The key trends in the global negative pressure wound therapy (NPWT) market include the rising use of technologically advanced single use NPWT devices which are portable, cost-effective, disposable, and better than the previously used therapies in the healthcare centres. These can also be used to provide therapy at home as they are portable and thereby reduce the need to visit hospitals on a frequent basis.
Moreover, the development of leak detection systems and dynamic pressure management systems and manufacturing of multi-wound NPWT devices has further enhanced the growth of the market. Rising preference for cost-effective wound treatment employing the advanced single use NPWT devices and portable NPWT devices is expected to further help in the growth of the overall market.
North America is expected to hold a large share in the negative pressure wound therapy (NPWT) market in the future owing to the increase in healthcare expenditure and expanding advanced healthcare infrastructure. Rising number of chronic conditions and acute wounds along with prevalence of cardiovascular conditions is helping the North America regional market grow. Increased research and development activities and presence of a large number of market players is further fuelling the growth of the market.
Key Market Players
The major players in the global negative pressure wound therapy (NPWT) market report are
• Smith & Nephew Plc
• ConvaTec Inc.
• Cardinal Health
• Medela AG
• Mölnlycke Health Care AB
• Talley Group Ltd
• PAUL HARTMANN Asia-Pacific Ltd
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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