Negative Pressure Wound Therapy (NPWT) Market Research
The global negative pressure wound therapy (NPWT) market size accounted for $2,144 Million in 2020, and is expected to reach $3,347 Million by 2027, registering a CAGR of 5.7% from 2020 to 2027. Negative pressure wound therapy devices are defined as medical equipment that use negative pressure to treat wounds. These devices comprise a pump, which is responsible for generating negative pressure around a wound. Furthermore, the device also has canisters, which are employed for the collection of exudate material from a wound.
Market Introduction and Definition
The collection of exudate aids in treatment of wound by facilitating wound healing and preventing any type of infection. However, single use NPWT devices work without canisters. These devices work by directly evaporating the exudate with the help of specially designed wound dressings, which are used to cover the wound during negative pressure wound therapy. In addition, these devices are used in treatment of various types of wounds such as chronic wounds and acute wounds. In addition, some of chronic wounds include incisions, burns, and trauma wounds. Whereas acute wounds include diabetic foot ulcers, venous leg ulcers, and others. These devices are used in different medical settings such as hospitals & clinics and ambulatory surgical.
Key Market Dynamics
Rise in incidences of chronic diseases such as diabetes mellitus and obesity majorly drive the NPWT market growth. In addition, rise in patient awareness toward the availability of cost-effective NPWT devices such as single-use devices and surge in number of casualties due to accidents & traumas also boost the negative pressure wound therapy market growth.
Factors such as rise in geriatric population across the globe, which are highly susceptible to various medical conditions leading to formation of different types of wounds, also boost the growth of the market. Moreover, availability of novel and advanced negative pressure wound therapy devices, which are patient-friendly and easy to use fuel the negative pressure wound therapy devices market growth. However, lack of trained professionals and complications caused due to use of negative pressure wound therapy devices hinder the growth of the global negative pressure wound therapy market. On the contrary, increase in focus on advancements of treatment protocols, significant unmet needs in wound care field, and high market potential in untapped emerging economies are anticipated to serve as lucrative opportunities for the market expansion.
Market Segmentation
The global negative pressure wound therapy market is segmented on the basis of product, wound type, end user, and region. On the basis of product, it is bifurcated into single-use NPWT devices and conventional NPWT devices. As per wound type, it is categorized into chronic and acute wounds. The chronic wounds segment is further classified into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and arterial ulcers. Similarly, the acute wounds segment is further divided into burns & trauma and surgical wounds. On the basis of end user, the market is segregated into hospitals & clinics, ambulatory surgery centers, and home care settings. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Segment Review
On the basis of product, the conventional negative pressure wound therapy market segment generated the highest revenue in the global negative pressure wound therapy market market, owing to the ability of these devices to heal wounds with large amount of exudate. This feature leads to their use in hospital settings where serious chronic and acute wounds are treated
The single-use NPWT devices segment is projected to grow at the highest CAGR, owing to advantages associated with these devices such as lightweight nature, better reimbursement insurance, and advanced dressing options. For instance, new single-use NPWT devices launched by key players in the market such as PICO 7 single use negative pressure wound therapy system offered by Smith & Nephew plc. provides various advantages such as these devices are canister-free; have patient-friendly applications; high moisture vapor transmission rate (MVTR) top film, which allows one-way transpiration of exudate vapor; and silicone contact, which allows fluid to pass and minimize pain on removal. Thus, such advantages lead to high adoption of single-use NPWT devices in the market, which, in turn, boosts the growth rate.
By Product
Single Use NPWT Devcies is projected as one of the most lucrative segment.
By wound type, the chronic wounds segment is projected to grow with the highest CAGR, owing to surge in incidences of chronic diseases such as diabetes mellitus. Among chronic wounds, the diabetic foot ulcer segment is expected to exhibit the fastest growth rate, and this trend is projected to continue throughout the forecast period. However, in the acute wounds segment, the surgical wounds segment is estimated to register the highest growth rate, attributed to increase in prevalence of surgical wounds.
By Wound Type
Chronic Wounds holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Regional/Country Market Outlook
On the basis of region, North America occupied the largest negative pressure wound therapy devices market share in 2019, and is expected to maintain its dominant position during the forecast period, owing to factors such as easy availability of devices. Rise in awareness related to use of these products and presence of large number of geriatric populations suffering from various chronic diseases also contribute to the negative pressure wound therapy devices growth of the market. Moreover, presence of large number of key players in North America is another major factor that drives the growth of the negative pressure wound therapy devices market. In addition, Asia-Pacific is expected to register the fastest growth rate during the forecast period, owing to surge in healthcare expenditure and rise in prevalence of diabetes in the region. Other factors such as huge patient base of other chronic diseases that lead to chronic or acute wound also contribute to the growth of the negative pressure wound therapy devices market in Asia-Pacific.
Competitive Landscape
The global negative pressure wound therapy devices marketis highly competitive and the prominent players in the market have adopted various strategies to garner maximum negative pressure wound therapy market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include 3M (Acelity L.P. Inc.,), ATMOS MedizinTechnik GmbH & Co. KG, Cardinal Health., ConvaTec Group Plc., DeRoyal Industries, Inc., Devon International Group, Investor AB (Mölnlycke Health Care AB), Olle Larsson Holding AG (Medela AG), Smith & Nephew Plc., and Talley group Ltd.
By Geography
Asia-Pacific region would exhibit the highest CAGR of 7.9% during 2020-2027.
Key Benefits for Stakeholders
- This report entails a detailed quantitative analysis along with the current global negative pressure wound therapy devices market trends from 2019 to 2027 to identify the prevailing opportunities along with strategic assessment.
- The negative pressure wound therapy devices market forecast is studied from 2020 to 2027.
- The negative pressure wound therapy devices market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the negative pressure wound therapy devices market.
Negative Pressure Wound Therapy Devices Market Report Highlights
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Analyst Review
In accordance to several interviews conducted with the CXOs, utilization of NPWT devices is expected to witness a significant rise, owing to increase in incidences of chronic diseases, such as diabetes and rise in awareness regarding the development of single-use NPWT devices, such as PICO single-use NPWT. The negative pressure wound therapy devices market has piqued the interest of the healthcare industry, owing to increase in use of these devices for treatment of chronic and acute wounds by physicians in developed regions.
According to the perspectives of CXOs of leading companies, increase in number of casualties due to accidents & trauma and rise in awareness about the availability of economical NPWT devices are expected to drive the market. However, lack of skilled professionals and complications related to employment of NPWT devices hamper the market growth. According to CXOs, the adoption of single-use NPWT is on rise to treat chronic and acute wounds majorly due to surge in incidences of chronic disease, increase in geriatric population, who are more prone to chronic wounds, and improved reimbursement scenario.
The total market value of negative pressure wound therapy devices market is $2143.97 million in 2019.
The forcast period for negative pressure wound therapy devices market is 2020 to 2027
The market value of negative pressure wound therapy devices market in 2019 is $2267.9 million.
The base year is 2019 in negative pressure wound therapy devices market
Top companies such as, 3M Acelity L.P. Inc.), Smith & Nephew plc, Convatech Group Plc, Mölnlycke Health Care AB, and Cardinal Health held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in different regions.
Single use NPWT devcies is the most influencing segment as these devices eliminates the need for heavy canisters, thereby reducing the size of devices to such an extent that it can be held in patient’s hands. This enables easy application of dressings as compared to traditional wound care dressings, further reducing staff time and other hospital paperwork and increasing patient comfort.
The major factor that fuels the growth of the global negative pressure wound therapy devices market includes rise in prevalence of various chronic diseases such as diabetes, cancer and others which lead to wounds that require the use of negative pressure wound therapy devices.
Asia-Pacific has the highest growth rate in the market which is growing due to the contribution of the following emerging countries such as China with a CAGR of 8.5%. This is due to rise in number of patients suffering from chronic diseases and improving healthcare facilities in the region.
Negative pressure wound therapy devices comprise of a pump and sometimes cannisters which apply negative pressure to a wound to draw out all the exudate. This promotes better healing of the wounds.
The devices are used to wound healing, reduce recurrent use of dressings (as in case of traditional wound care), provide an efficient option for management of closed surgical incision lines, and improve patient well-being.
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