Negative Pressure Wound Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Negative Pressure Wound Therapy Companies and It 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).

Negative Pressure Wound Therapy Market Size

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Negative Pressure Wound Therapy Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 2.9 Billion
Market Size (2029) USD 3.70 Billion
CAGR (2024 - 2029) 5.46 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Negative Pressure Wound Therapy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Negative Pressure Wound Therapy Market Analysis

The Negative Pressure Wound Therapy Market size is estimated at USD 2.9 billion in 2024, and is expected to reach USD 3.70 billion by 2029, growing at a CAGR of 5.46% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the growth of the market. With the nationwide lockdowns, the number of people getting on the roads declined, and there was a drastic decrease in the number of accidents and injuries. For instance, as per the article published by Wound Repair and Regeneration in October 2021, levels 2-5 evidence revealed a paradigm shift in wound care toward hybrid telemedicine and home healthcare models to keep patients at home to minimize the number of in-person visits at clinics and hospitalizations, except in severe cases such as chronic limb-threatening ischemia. Hence, all the factors mentioned above showed that COVID-19 had a notable impact on the negative pressure wound therapy market. However, as the pandemic has currently subsided, the market is expected to experience pre-pandemic levels of growth during the forecast period of the study.

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 prolonging the wound healing period. The 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) were living with diabetes in 2021. 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 affect 40 to 60 million people globally. As a result, the market is likely to grow due to the increased prevalence of diabetic foot ulcers. Also, 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.

Moreover, the study published by Sage Journals in August 2021 reported that venous leg ulcers (VLU) account for 70% of all chronic leg ulcers and are associated with a recurrence rate of 60-70% at 10 years. The deep venous ulcers are responsible for 90% of the venous return to the right atrium from the lower extremities. Such a recurrence of the condition creates the need for NPWT devices and is thus expected to drive the growth of the market.

Additionally, the developments by various market players are also expected to boost the market growth. For instance, in March 2022, Cork Medical entered into a partnership with MedTech Solutions Group (MTSG). As per the agreement, MTSG will manage Cork Medical's international negative pressure wound therapy (NPWT) business in all countries except the United States. Such strategic initiatives are expected to boost the growth of the market.

Thus, due to the above-mentioned factors such as the high prevalence of chronic wounds and the developments by market players, the negative pressure wound therapy market is expected to grow at a significant rate during the forecast period. However, the high cost of devices and treatment can restrain the market's growth.

Negative Pressure Wound Therapy Market Trends

Diabetic Foot Ulcers Segment is Expected to Have a Significant Market Share During the Forecast Period

A diabetic foot ulcer is an open sore or wound that occurs in 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 effective in achieving faster wound bed granulation in diabetic foot ulcers. Due to the increased application of NPWT in diabetic foot ulcers, this segment is expected to project significant growth over the forecast period.

Moreover, according to the International Diabetes Federation Diabetes Atlas, February 2022 report, an estimated 61 million adults (20-79 years) were living with diabetes in the Europe Region in 2021. The number of adults with diabetes is predicted to rise to 69 million by 2045, an increase of 13%. The surge in the prevalence of diabetes among all ages in the European Region is likely to increase the cases of diabetic foot ulcers, which will ultimately augment the segment's growth. Due to the increasing number of 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.

Additionally, the growing number of studies demonstrating the importance of NPWT is also expected to propel the growth of the segment. For instance, an article published by Burns & Trauma in June 2021 concluded that the treatment of diabetic foot requires a cross-disciplinary and systematic approach, within which NPWT is an important adjunct treatment for diabetic foot wounds. It also reported that the standardised management and application of NPWT may improve wound exudate drainage, enhance blood perfusion, and promote wound healing.

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. Adding to that, the rising incidence and prevalence of diabetic foot ulcers across the globe also fuel the segment's growth. Thus, the market segment is expected to show significant growth over the forecast period.

Negative Pressure Wound Therapy Market: Number of Diabetic Population (in Million), Global, 2021-2045

North America is Expected to Hold a Significant Share in the Market Over 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. The United States, being one of the most developed economies and technologically advanced countries, holds a notable share of the studied market.

The high burden of diabetes in the region is also expected to drive the growth of the market. For instance, according to the International Diabetes Federation, in 2021, there were 32.2 million prevalent cases of diabetes (20-79 years old) in North America, and this is expected to reach 36.8 million by 2045. Such an increasing burden of diabetes raises the risk of diabetic foot ulcer and is thus expected to drive the growth of the market.

Additionally, the strategic initiatives taken by the market players are expected to drive the growth of the market in the region. For instance, in April 2021, Joerns Healthcare signed a distribution agreement with Medela to distribute Medela's negative pressure wound therapy (NPWT) product line on a national basis to skilled nursing and long-term acute care hospital settings. Also, the market players are focusing on user experience to gain a competitive edge.

Thus, owing to the abovementioned factors, such as the rising prevalence of chronic wounds and the strategic initiatives by market players, the studied market is expected to show significant growth in the North American region over the forecast period.

Negative Pressure Wound Therapy Market - Growth Rate by Region

Negative Pressure Wound Therapy Industry Overview

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.

Negative Pressure Wound Therapy Market Leaders

  1. ConvaTec Inc.

  2. Cardinal Health, Inc.

  3. Smith & Nephew plc

  4. 3M

  5. Mölnlycke Health Care AB

*Disclaimer: Major Players sorted in no particular order

Negative Pressure Wound Therapy Market Concentration
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Negative Pressure Wound Therapy Market News

  • May 2023: Smith+Nephew announced its PICO Single Use Negative Pressure Wound Therapy Systems have received an Innovative Technology contract from Vizient, Inc. The contract was awarded based on the PICO Single Use Negative Pressure Wound Therapy Systems recommendation by hospital experts who serve on one of Vizient's member-led councils.
  • 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 reduce the incidence of wounds.

Negative Pressure Wound Therapy Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Number of Accidents and Traumatic Events

      2. 4.2.2 Rising Incidence of Chronic Wounds Such as Diabetic Foot

      3. 4.2.3 Technological Advancements in the NPWT Devices

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Device and Treatment

      2. 4.3.2 Complications Associated With NPWT Device

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 5.1 By Product

      1. 5.1.1 Reusable Device

      2. 5.1.2 Single-use Device

    2. 5.2 By Wound Type

      1. 5.2.1 Diabetic Foot Ulcer

      2. 5.2.2 Pressure Ulcer

      3. 5.2.3 Venous Leg Ulcer

      4. 5.2.4 Burn Wounds

      5. 5.2.5 Other Wound Types

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Homecare

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 3M

      2. 6.1.2 Talley Group Ltd

      3. 6.1.3 Smith & Nephew

      4. 6.1.4 Otivio (FlowOx)

      5. 6.1.5 Molnlycke Health Care AB

      6. 6.1.6 Medela AG

      7. 6.1.7 DeRoyal Industries Inc.

      8. 6.1.8 ConvaTec Inc.

      9. 6.1.9 Cardinal Health

      10. 6.1.10 Paul Hartmann AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Negative Pressure Wound Therapy Industry Segmentation

As per the scope of the report, negative-pressure wound therapy (NPWT) is a therapeutic technique that uses a suction dressing to remove excess exudate 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) for the above segments.

By Product
Reusable Device
Single-use Device
By Wound Type
Diabetic Foot Ulcer
Pressure Ulcer
Venous Leg Ulcer
Burn Wounds
Other Wound Types
By End User
Hospitals
Homecare
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Negative Pressure Wound Therapy Market Research FAQs

The Negative Pressure Wound Therapy Market size is expected to reach USD 2.9 billion in 2024 and grow at a CAGR of 5.46% to reach USD 3.70 billion by 2029.

In 2024, the Negative Pressure Wound Therapy Market size is expected to reach USD 2.9 billion.

ConvaTec Inc., Cardinal Health, Inc., Smith & Nephew plc, 3M and Mölnlycke Health Care AB are the major companies operating in the Negative Pressure Wound Therapy Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Negative Pressure Wound Therapy Market.

In 2023, the Negative Pressure Wound Therapy Market size was estimated at USD 2.74 billion. The report covers the Negative Pressure Wound Therapy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Negative Pressure Wound Therapy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Negative Pressure Wound Therapy Industry Report

Statistics for the 2024 Negative Pressure Wound Therapy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Negative Pressure Wound Therapy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Negative Pressure Wound Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)