Vacuum Therapy Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vacuum Therapy Devices Market Analysis
The vacuum therapy devices market is expected to register a CAGR of 3.5% during the forecast period.
COVID-19 swiftly became a pandemic, causing significant disruptions in health services such as wound care and vacuum therapy devices. Vacuum devices, which are crucial in wound care and should be considered important medical devices, have changed as a result of the necessity. The article published in Wound Repair Regeneration in October 2021 demonstrated a paradigm shift in wound care toward hybrid telemedicine and home healthcare models to keep patients at home and reduce the amount of in-person clinic visits and hospitalizations, except in extreme instances such as chronic limb ischemia. As a result of the aforementioned characteristics, COVID-19 significantly impacted the vacuum therapy devices market. Additionally, the market is growing again as all of the activities return to normal and are expected to follow the same trend over the forecast period.
The rising cases of road accidents and the increase in cases of chronic diseases are expected to be the key contributors to the market growth. Vacuum therapy is preferably used for wound healing, and thus, the growing prevalence of wounds is expected to boost the market growth. The study published in SAGE Journal in August 2021 reported that venous leg ulcers (VLU) accounted for 70% of all chronic leg ulcers and had a recurrence rate of 60-70% after ten years. Deep venous ulcers account for 90% of the venous return to the right atrium from the lower extremities. The recurrence of the illness necessitates the use of vacuum medical devices, which is projected to fuel market expansion.
Additionally, as per the International Diabetes Federation (IDF) report 2021, there were around 537 million people across the globe having diabetes. The same report suggests that the number of persons with diabetes is increasing rapidly every year, contributing to the high incidence of diabetic ulcers. With rising ulcers, the need for vacuum medical equipment is predicted to rise, which will help the market expansion in the coming years.
Increasing the burden of injuries and road accidents is likely to support the market's growth. According to the World Health Organization (WHO) Report, in 2021, between 20-50 million people will suffer from non-fatal injuries, with many incurring a disability as a result of their injury. 93% of the world's fatalities on the roads occur in low and middle-income countries, even though these countries have approximately 60% of the world's vehicles. Even within high-income countries, individuals from lower socioeconomic backgrounds are more likely to be involved in road traffic crashes. Thus, increasing road traffic-related crashes result in injuries, which is expected to boost market growth.
Furthermore, strategic initiatives implemented by market participants are projected to boost the market growth. 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. Thus, all aforementioned factors are expected to boost market growth over the forecast period. However, the high cost of devices may restrain the market growth.
Vacuum Therapy Devices Market Trends
This section covers the major market trends shaping the Vacuum Therapy Devices Market according to our research experts:
Negative Pressure Wound Therapy (NPWT) Segment Expected to Hold a Major Market Share
Negative pressure wound therapy uses vacuum devices to decrease air pressure around the wound and pulls out the fluid from the wound. A higher incidence of diabetic foot ulcers is expected to increase the demand for vacuum therapy devices. According to the 2021 data published by the University of Michigan Health, diabetes ulcer usually affects around 15% of the diabetic population. Diabetic foot ulcers can cause hospitalization of about 6% of the affected diabetic patients. Foot ulcers are one of the most common complications among diabetic patients. According to an article published in the Journal of Foot in February 2022, diabetes is responsible for roughly 67% of leg amputations in the United States. The prevalence of diabetic foot ulcers in the country is expected to drive segment expansion.
Additionally, a number of studies have demonstrated the importance of NPWT is also expected to propel the growth of the segment. For instance, an article published in Burns and Trauma in June 2021 stated that diabetic foot therapy necessitates a multidisciplinary and systematic approach, with NPWT serving as an important adjuvant treatment for diabetic foot wounds. It further stated that systematic management and application of NPWT may improve wound exudate drainage, blood perfusion, and wound healing.
Additionally, the strategic initiatives taken by the market players are expected to drive the growth of the segment. For instance, in August 2021, Aatru Medical, LLC reported the NPSIMS Negative Pressure Surgical Incision Management System received FDA 510(k) Class II clearance. The Food and Drug Administration-approved miniature gadget is intended to aid in the healing of open wounds following surgery by sealing and keeping them tight with moderate suction.
Hence, the aforementioned factors are expected to fuel the vacuum therapy devices market's growth.
North America Expected to Hold a Significant Share During the Forecast Period
North America is expected to be a dominant region in the vacuum therapy devices market, owing to the increasing number of road accidents and higher prevalence of chronic diseases, such as venous diseases. According to the National Safety Council (NSC) in 2021, exercise with or without exercise equipment, accounted for about 468,000 injuries, the most of any category of sports and recreation. Bicycling followed with about 417,000 injuries, while basketball with 404,000 injuries, and football, with 292,000 injuries in the United States. Therefore, the rising burden of injury creates tremendous opportunities for market players, and they are focusing on R&D activities to bring new and reliable products into the market, thereby driving market growth over the forecast period.
Additionally, the growing prevalence of chronic diseases is expected to boost the market in the region. As per the data published by International Diabetes Federation (IDF) in 2021, the incidence of diabetes in Canada (per 100,000) for the year 2021 was around 37.9% in children aged between 0-14 years. In addition, the number of adults aged 20-79 years suffering from diabetes in Canada was around 3 million for the year 2021. The rising number of diabetic cases in the Canada is expected to increase the number of diabetic ulcer cases and contribute to market growth in the United States.
Additionally, the strategic initiatives taken by the market players are expected to drive the growth of the market in the region. For instance, in September 2022, Applied Tissue Technologies has received Food and Drug Administration approval for for its non-foam negative pressure wound therapy system. Thus, the market segment is expected to show significant growth over the forecast period.
Vacuum Therapy Devices Industry Overview
The market for vacuum therapy devices 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. The key players in the Vacuum Therapy Devices market are Molnlycke Health Care AB, 3M (Acelity LP Inc.), Coloplast Corp., Smith & Nephew PLC, Boston Scientific Corporation, Cardinal Health, Augustus Medical Systems, and Vacurect.
Vacuum Therapy Devices Market Leaders
Molonlycke Healthcare AB
3M (Acelity L.P. Inc.)
Coloplast Corp
Boston Scientific Corporation
Smith & Nephew Plc
*Disclaimer: Major Players sorted in no particular order
Vacuum Therapy Devices Market News
- August 2022: 3M Health Care's medical solutions unit reported breakthroughs in the delivery of critical wound care technologies. A new 3M Veraflo Cleans Choice Complete dressing kit was introduced, as well as a software upgrade for the 3M VAC Ulta therapy unit.
- 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 US Food and Drug Administration (FDA) cleared the systems for use on closed surgical incisions to aid in reducing the incidence of wounds.
Vacuum Therapy Devices Market Report - Table of Contents
1. INTRODUCTION
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 Growing Burden of Chronic Diseases
4.2.2 Increasing Road Accidents
4.3 Market Restraints
4.3.1 High-cost of Devices
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 Type
5.1.1 Negative Pressure Wound Therapy
5.1.2 Vacuum Constriction Devices
5.2 By Application
5.2.1 Chronic wounds
5.2.2 Acute Wounds
5.2.3 Erectile Dysfunction
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Molnlycke Health Care AB
6.1.1 3M (Acelity LP Inc.)
6.1.2 Augustus Medical Systems
6.1.3 Boston Scientific Corporation
6.1.4 Cardinal Health
6.1.5 Coloplast Corp
6.1.6 Smith & Nephew PLC
6.1.7 Vacurect
6.1.8 ConvaTec Inc.
6.1.9 Molnlycke Health Care AB
6.1.10 TIMM Medical
6.1.11 Owen Mumford Ltd
6.1.12 Talley Group Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vacuum Therapy Devices Industry Segmentation
As per the scope of the report, vacuum therapy is a technique used widely for healing wounds, as well as for erectile dysfunction disorders. The vacuum therapy devices market is segmented by product type (negative pressure wound therapy and vacuum constriction devices), application (chronic wounds, acute wounds, and erectile dysfunction), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Product Type | |
| Negative Pressure Wound Therapy | |
| Vacuum Constriction Devices |
| By Application | |
| Chronic wounds | |
| Acute Wounds | |
| Erectile Dysfunction |
| Geography | ||||||||
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Vacuum Therapy Devices Market Research FAQs
What is the current Vacuum Therapy Devices Market size?
The Vacuum Therapy Devices Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Vacuum Therapy Devices Market?
Molonlycke Healthcare AB, 3M (Acelity L.P. Inc.), Coloplast Corp, Boston Scientific Corporation and Smith & Nephew Plc are the major companies operating in the Vacuum Therapy Devices Market.
Which is the fastest growing region in Vacuum Therapy Devices Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vacuum Therapy Devices Market?
In 2024, the North America accounts for the largest market share in Vacuum Therapy Devices Market.
What years does this Vacuum Therapy Devices Market cover?
The report covers the Vacuum Therapy Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vacuum Therapy Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vacuum Therapy Devices Industry Report
Statistics for the 2024 Vacuum Therapy Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vacuum Therapy Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
