Negative Pressure Wound Therapy Market Snapshot
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The negative pressure wound therapy market is projected to register a CAGR of 5.7% during the forecast period (2022-2027) with a market size of approximately, USD 3,325.96 million in 2021 and estimated to reach USD 4,498.93 million by 2027.
The COVID-19 pandemic has been continuing to transform the growth of various markets, and the immediate impact of the outbreak is varied. Most of the wounds are caused by road accidents and transport injuries. This was the significant driving element for the market. With the lockdown that was placed globally in the initial part of the pandemic public transport being canceled, and people not getting on roads like before, there was a drastic decrease in the number of accidents and injuries. As per the article published in the Wound Repair and Regeneration Journal in 2021, there was a paradigm shift in wound care toward hybrid telemedicine and home healthcare model to keep patients at home and reduce the number of in-person clinic visits and hospitalizations, except for serious cases like chronic limb-threatening ischemia. In the post-pandemic era, telemedicine and home care will probably still be used and even get better. Hence, all the factors mentioned above showed that COVID-19 had a notable impact on the negative pressure wound therapy market.
Negative pressure wound therapy (NPWT) is the most preferred choice of treatment, especially for deep acute wounds and persistent chronic wounds including leg ulcers. Some of the factors that are driving the overall market growth are the increasing number of accidents and traumatic events, rising chronic wounds such as diabetic foot ulcers, and technological advancements in NPWT devices.
Chronic wounds lead to complications, such as infection, ulceration, and insufficient blood supply, thus, increasing the wound healing period. Most common chronic wounds include venous ulcers, diabetic foot ulcers, and pressure ulcers. As per the 2022 update from the International Diabetic Federation (IDF), approximately 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, as per the IDF 2021 report, diabetic foot ulcers were affected by 40 to 60 million people globally. As a result, the market is likely to grow due to the increased prevalence of diabetic foot ulcers.
As per the 2022 update from the Mission Regional Medical Center, around 6.7 million people are living with chronic wounds and that number isexpected to grow by more than 2% in the next decade. Chronic wounds represent a cost of more than USD 50 billion to the health care system. Most clinical trials have shown the effectiveness of this therapy in the treatment of superficial wounds. Moreover, the localized use of negative pressure wound therapy in infected wounds offers advantages, such as wound drainage, angiogenesis stimulation, proteinase excretion, and decreased local and systemic bacterial load. A study published in 2020 under the title "Combination therapy of oxidised regenerated cellulose/collagen/silver dressings with negative pressure wound therapy for coverage of exposed critical structures in complex lower-extremity wounds" in the International Wound Journal, stated that silver dressings applied to negative pressure wound care prevent infection.Thus, due to the above-mentioned factors, the negative pressure wound therapy market is expected to grow at a significant rate during the forecast period.
However high cost of devices and treatment can restrain the market growth.
Scope of the Report
As per the scope of this report, Negative-pressure wound therapy (NPWT) is a therapeutic technique that uses a suction dressing to remove excess exudation and promote healing in acute or chronic wounds and second-and third-degree burns. The Negative Pressure Wound Therapy Market is segmented by Product (Reusable Device, and Single-use Device), Wound Type (Diabetic Foot Ulcer, Pressure Ulcer, Venous Leg Ulcer, Burn Wounds, and Others), End-user (Hospitals, Homecare, Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally The report offers the value (in USD million) for the above segments.
|By Wound Type|
|Diabetic Foot Ulcer|
|Venous Leg Ulcer|
|Other Wound Types|
|By End User|
|Other End Users|
Key Market Trends
Diabetic Foot Ulcers are Expected to Hold a Major Market Share in the Negative Pressure Wound Therapy Market.
A diabetic foot ulcer is an open sore or wound that occurs in approximately 15% of patients with diabetes and is commonly located on the bottom of the foot. The use of negative pressure wound therapy (NPWT) was found to be an effective initial wound therapy to achieve faster wound bed granulation in diabetic foot ulcers. Due to the increased application of NPWT in diabetic foot ulcers, this segment is expected to boost the market growth during the forecast period.
Moreover, Diabetic Foot Ulcers (DFU) is one of the most common complications associated with Diabetes and are posing a burden on several countries across the globe. According to the International Diabetic Federation (IDF) 2020 update, diabetic foot, and lower limb complications are severe and chronic and they affect 40 to 60 million people with diabetes globally. 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. Owing to many people with diabetic foot ulcers globally, there is a growing demand for negative pressure wound therapy devices, as it is one of the most efficacious, safe, and cost-effective methods of treating diabetic foot ulcers.
Furthermore, diabetic foot ulcers impose a substantial burden on public and private payers in the United States, doubling care costs per patient compared with diabetic patients without foot ulcers. The average annual expenditure of diabetic foot care in the United States is around USD 8,659 per patient and the total medical cost for the management of diabetic foot disease in the United States ranges from USD 9 to USD 13 billion, in addition to the cost for management of diabetes mellitus alone as per the data published in the Elsevier journal in 2022.
Hence, due to the efficacy of negative pressure wound therapy in healing diabetic foot ulcers in less time, the demand for negative pressure wound therapy is increasing despite its high price of it. Adding to that, the rising incidence and prevalence of diabetic foot ulcers across the globe are fueling the segment growth.
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North America Dominates the Market and is Expected to Grow During the Forecast Period
North America is expected to hold a significant market share in the negative pressure wound therapy market due to the rising prevalence of chronic wounds, and the increased number of accidents in this region. Being one of the most developed economies and technologically advanced countries, the United States from the North America region is holding the largest share in the medical devices market which is a beneficial factor for the market studied. NPWT is an expensive procedure but the reimbursement policies in the North American region are better hence, the service or treatment availed by the patient becomes cheap compared to that in developing countries. Furthermore, this region has the presence of all the key players that are dominating the NPWT market. Therefore, owing to the aforementioned factors, North America is expected to have a significant share of the market studied.
Moreover, the data published in October 2021 by World Health Organization (WHO) reported that the pace of population aging is much faster than in the past and by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time, the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. Furthermore, people over 65 are particularly vulnerable to pressure ulcers due to factors, such as reduced aging of the skin, blood supply, and a higher rate of mobility problems. Hence the rising aging population will increase the demand for negative pressure wound therapy.
In the United States, increasing awareness programs about wound management are further accelerating the market’s growth. For instance, the International Conference on Wound Care, Tissue Repair, and Regenerative Medicine aim to spread awareness among the patients and nursing staff regarding wound care. The rising awareness, rapid adoption of new technologies, and increasing chronic wound cases are positively impacting the NPWT market’s growth in the United States. Adding to that, companies, such as Cardinal Health, 3M, and Smith & Nephew, offer a large portfolio in the negative pressure wound therapy market, and these companies hold a healthy share in the United States.
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The market for Negative Pressure Wound Therapy is moderately competitive with the presence of most international companies. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are 3M, Smith & Nephew, Molnlycke Health Care AB, Covatec Inc. Cardinal Health, and Others.
- In January 2022, Smith & Nephew announced a new indication for use for its PICO 7 and PICO 14 single-use negative pressure wound therapy systems. The United States Food and Drug Administration (FDA) cleared the systems for use on closed surgical incisions to aid in reducing the incidence of wounds.
- In November 2021 Smith & Nephew announced its first dedicated medical Education Center to support customers across the Asia-Pacific Region. The center will have a strong focus on digital and robotic surgery and advanced wound management.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Accidents and Traumatic Events
4.2.2 Rising Incidence of Chronic Wounds Such as Diabetic Foot
4.2.3 Technological Advancements in the NPWT Devices
4.3 Market Restraints
4.3.1 High Cost of Device and Treatment
4.3.2 Complications Associated With NPWT Device
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Reusable Device
5.1.2 Single-use Device
5.2 By Wound Type
5.2.1 Diabetic Foot Ulcer
5.2.2 Pressure Ulcer
5.2.3 Venous Leg Ulcer
5.2.4 Burn Wounds
5.2.5 Other Wound Types
5.3 By End User
5.3.3 Other End Users
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Talley Group Ltd
6.1.3 Smith & Nephew
6.1.4 Devon Medical Products
6.1.5 Molnlycke Health Care AB
6.1.6 Medela AG
6.1.7 DeRoyal Industries Inc.
6.1.8 ConvaTec Inc.
6.1.9 Cardinal Health
6.1.10 Paul Hartmann AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Negative Pressure Wound Therapy Market market is studied from 2019 - 2027.
What is the growth rate of Global Negative Pressure Wound Therapy Market?
The Global Negative Pressure Wound Therapy Market is growing at a CAGR of 5.7% over the next 5 years.
What is Global Negative Pressure Wound Therapy Market size in 2019?
The Global Negative Pressure Wound Therapy Market is valued at 3325 Million USD in 2019.
What is Global Negative Pressure Wound Therapy Market size in 2027?
The Global Negative Pressure Wound Therapy Market is valued at 4498 Million USD in 2027.
Which region has highest growth rate in Global Negative Pressure Wound Therapy Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Negative Pressure Wound Therapy Market?
North America holds highest share in 2021.
Who are the key players in Global Negative Pressure Wound Therapy Market?
ConvaTec Inc., Cardinal Health, Inc., Smith & Nephew plc, 3M, Mölnlycke Health Care AB are the major companies operating in Global Negative Pressure Wound Therapy Market.