Global Negative Pressure Wound Therapy Devices Market Worth USD 4,219.29 million by 2031 | CAGR of 5.80%

Introduction

NPWT, or vacuum-assisted wound closure therapy, uses sub-atmospheric pressure to treat acute and persistent wounds. NPWT devices are available in various shapes and sizes to accommodate a patient's body type and the extent of the damage that needs to be repaired. These tools, which consist of a vacuum pump, drainage tubing, and dressing set, improve patient well-being by hastening the healing of wounds, reducing the frequency of dressing changes, and providing a valuable substitute for treating closed surgical incision lines. As the prevalence of chronic diseases like diabetes mellitus and obesity rises along with the global elderly population, the market for negative pressure wound therapy devices is predicted to grow. 

Market Dynamics

Quickly Aging Population and Favorable Demographics Globally Drives the Global Market

The global elderly population has significantly expanded in recent years. They are more likely to develop chronic diseases, including arthritis, cancer, type 2 diabetes, obesity, and cardiovascular conditions. Furthermore, older adults are more likely to get certain illnesses like stomach cancer. Therefore, NPWT devices are required to treat ulcers brought on by chronic medical conditions like diabetes. Similar to how incision-based surgical therapy is necessary for treating chronic disorders, including cancer, arthritis, and cardiovascular disease. NPWT devices are required since these incisions have a high surgical site infection risk. Thus, a major factor propelling the market for negative pressure wound therapy devices is the significant rise in the senior population globally.

Significant Wound Care Requirements Creates Tremendous Opportunities

The market for wound care has excellent growth potential because it is a developing therapeutic area. The demand for negative pressure wound therapy devices is driven by the significant unmet need in this clinical area caused by the rise in acute and chronic wounds worldwide. More clinical practices being taught in medical schools, increased care coordination between therapies and places of care, and enhanced decision tools and standards for NPWT devices are all projected to open up various future market opportunities.

Regional Analysis 

North America is the most significant revenue contributor and is anticipated to expand at a CAGR of 4.50% over the projection period. The United States, Canada, and Mexico are three important North American countries analyzed in the paper. In 2019, the mature market of the United States brought in the most money for North America. According to the American Medical Association and JAMA network, 4.5 million Americans experienced chronic wounds in 2018. The cost of treating chronic wounds is rapidly rising due to rising healthcare costs, an aging population in the United States, and an increase in diabetes and obesity worldwide.

Europe is anticipated to grow at a CAGR of 5.90% during the forecast period. The European NPWT device market analysis considers Germany, France, the UK, Italy, Spain, and the rest of Europe. Europe has proven to be the second-largest market for NPWT devices. The UK and Spain are expected to grow strongly during the projection period, while developed European nations like Germany, France, and Italy are predicted to experience steady growth.

Key Highlights

• The negative pressure wound therapy devices market was valued at USD 2,540.20 million in 2022. It is projected to reach USD 4,219.29 million by 2031, growing at a CAGR of 5.80% during the forecast period (2023-2031).
• Based on product, the global negative pressure wound therapy devices market is bifurcated into Conventional NPWT Devices and Single-use NPWT Devices. The Conventional NPWT Devices segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.50% during the forecast period.
• Based on application, the global negative pressure wound therapy devices market is bifurcated into chronic and acute wounds. The chronic wounds segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.30% during the forecast period.
• Based on the end-user industry, the global negative pressure wound therapy devices market is bifurcated into Hospitals and Clinics, Ambulatory Surgery Centers (ASCs), and Home Care Settings. The Hospitals and Clinics segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.20% during the forecast period.
• North America is the most significant revenue contributor and is expected to grow at a CAGR of 4.50% during the forecast period.

Competitive Players

Competitive Players

The global negative pressure wound therapy devices market's major key players are ConvaTec Inc., Cardinal Health, Inc., Smith and Nephew plc, 3M, and Mölnlycke Health Care AB.

 

Recent Developments

Market News

• In January 2022, a new use for the PICO 7 and PICO 14 single-use negative pressure wound care systems was unveiled by Smith and Nephew. The US Food and Drug Administration (FDA) approved the plans for use on closed surgical incisions to help lower the occurrence of wounds.

Segmentation

Global Negative Pressure Wound Therapy Devices Market Segmentation

By Product

• Conventional NPWT Devices
• Single-use NPWT Devices

By Applications

• Chronic Wounds
• Acute Wounds

By End User

• Hospitals and Clinics
• Ambulatory Surgery Centers (ASCs)
• Home Care Settings

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA