New York, USA, July 28, 2022 (GLOBE NEWSWIRE) -- Negative Pressure Wound Therapy Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Negative Pressure Wound Therapy Market Information by Product Type, Wound Type, End-User, and Region - Forecast till 2030”, the market can expect to reach USD 3.67 Billion by 2030 at 6.1% from 2022 to 2030.
Market Synopsis
Negative pressure wound therapy involves the use of devices/medical equipment that make use of negative pressure for treating wounds. These devices include a pump that generates negative pressure all around the wound. Also, canisters are used for collecting exudate material from the wound.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 3.67 billion |
| CAGR | 6.1% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Wound Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising spending on chronic and surgical wounds and government initiatives to prevent SSIs |
| Increasing prevalence of diabetes and high rate of cesarean sections in elderly mothers |
Negative Pressure Wound Therapy Market Competitive Landscape:
The affluent firms in the negative pressure wound therapy market include
- ACELITY L. P. Inc.
- Cardinal Health
- ConvaTec Group Plc.
- DeRoyal Industries Inc.
- Smith & Nephew
- Lohmann & Rauscher International GmbH & Co. Kg
- Talley Group
- Medela
- Genadyne
- Mölnlycke Health Care AB
Negative Pressure Wound Therapy Market USP Covered:
Market Drivers:
Negative pressure wound therapy is one of the most sought-after treatment options in the world, mostly for deep acute wounds coupled with chronic wounds like leg ulcers. The top growth-fostering factors can be the soaring industrial injuries and road accidents as well as traumatic events. Mounting cases of chronic wounds including diabetic foot ulcers combined with the rise in technological innovations in NPWT devices ensure sustained market growth as well.
Chronic wounds lead to a series of complications, such as ulceration, infection, and lack of blood supply, all of which extend the wound healing period. The common chronic wounds include pressure ulcers, venous ulcers, and diabetic foot ulcers. The International Journal of Advances in Medicine states that in 2021, nearly 48 million cases of diabetes were diagnosed in India, with around 20% of this number suffering from diabetic foot ulcers.
The exploding geriatric population across the world, and their high proneness to a variety of medical conditions that lead to wounds, will further bolster market expansion. The emergence of innovative novel negative pressure wound therapy products and devices that are user-friendly and accurate is bound to propel the industry’s position.
Market Restraints:
The shortage of trained and skilled medical professionals along with the complications that often arise due to the use of negative pressure wound therapy devices can bring down the product demand in the years to come.
On the contrary, the heightened focus on advances in treatment protocols, unmet medical requirements in the wound care field, and the significant market potential in emerging countries will offer a host of attractive opportunities to the companies in the years to follow.
Negative Pressure Wound Therapy Market COVID 19 Analysis
The COVID-19 outbreak’s significant impact has led to numerous severe repercussions on people’s health status across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the global populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. These factors will most likely be unfavorable for the negative pressure wound therapy market in the years to come.
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Negative Pressure Wound Therapy Market Segmentation
By Product Type
The major product types include single-use negative pressure wound therapy devices, along with conventional negative pressure wound therapy devices, and accessories. The biggest share is gained by the conventional segment on account of the ability of conventional negative pressure wound therapy devices to manage severe wound exudates. On the other hand, the single-use negative pressure wound therapy devices segment will develop at the fastest rate in the following years.
By Wound Type
Wound types include ulcers, surgical and traumatic wounds, and burns. The ulcer-based types are pressure ulcers, diabetic foot ulcers, venous ulcers, and others.
By End-User
Industry end-users include home care settings, as well as hospitals, and more. The home care settings segment occupies the biggest share in the NPWT industry, given the rising instances of age-related ailments, booming sale of single-use and disposables consumables, and escalating healthcare costs.
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Negative Pressure Wound Therapy Market Regional Insights
The American market will maintain a winning streak all through the review period, retaining its leading position backed by the thriving healthcare industry. The surging cases of chronic wounds, in conjunction with the increasing diabetes cases also favor the regional market. The burgeoning elderly populace along with the striking rise in the obesity rate enhance the market demand too. The National Diabetes Statistics Report reveals that in 2020, nearly 40.5 million people in the US were affected by diabetes. Besides, the favorable reimbursement scenario in the country will also work in favor of the negative pressure wound therapy market in the years ahead.
Europe will be garnering the second highest spot in the coming years, with the negative pressure wound therapy industry size expected to be bolstered by the heightened number of road accidents. The rising prevalence of diabetes cases and the presence of well-developed healthcare infrastructure as well as top-notch medical facilities will further bolster the market value.
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The Asia Pacific market for negative pressure wound therapy predominantly benefits from the contributions of rapidly developing countries like the Republic of Korea, Japan, Australia, India, and China. The region is on the way to achieving the fastest growth rate in subsequent years, as a result of the fast-expanding patient pool suffering from chronic disorders like diabetes. With the injury and burn cases shooting up, combined with the rising focus on upgrading the healthcare infrastructure, the market position in the region is bound to escalate in the years ahead.
The slowest development rate of the Middle East and Africa market is the result of the substandard healthcare infrastructure as well as the poor awareness among people regarding chronic ailments.
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