Global Negative Pressure Wound Therapy (NPWT) Devices Market, by Product Type (Single-use NPWT Devices and Conventional NPWT Devices), by Application (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burn Wounds, and Others (Surgical Wounds, Traumatic Wounds, etc.)), by End User (Hospitals, Home Care Settings and Others (Ambulatory Surgery Centers (ASCs), Specialty Clinics, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,288.1 Million in 2022 and is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of chronic ulcer such as foot ulcers (FU) is expected to drive the market growth over the forecast period. For instance, according to an article published in Mary Ann Liebert, Inc., a privately held independent publishing company, on March 31, 2021, annually, the incidence of FU globally was between 9.1 and 26.1 million. FU is more prevalent in North America (13%) compared to Europe (5.1%).
Global Negative Pressure Wound Therapy (NPWT) Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources which were required to ensure safety in hospitals and provide treatment to patients with other diseases. This has impacted the overall healthcare market negatively.
Additionally, there were delays in hospitalization and surgical procedures as number of patient visits decreased, which is expected to affect the global negative pressure wound therapy (NPWT) devices market over the forecast period.
Global Negative Pressure Wound Therapy (NPWT) Devices Market: Key Developments
On June 15, 2021, Mölnlycke Health Care AB, a medical products company, announced that it had started post market clinical study with primary objective to confirm safety and performance of Avance Solo NPWT System in low to moderate exuding acute (traumatic wounds and flaps and grafts), as well as subacute (e.g., dehisced wounds) wounds when used in accordance with the instructions for use, for up to 28 days.
Browse 34 Market Data Tables and 30 Figures spread through 177 Pages and in-depth TOC on “Global Negative Pressure Wound Therapy (NPWT) Devices Market”- Forecast to 2030, Global Negative Pressure Wound Therapy (NPWT) Devices Market, by Product Type (Single-use NPWT Devices and Conventional NPWT Devices), by Application (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burn Wounds, and Others (Surgical Wounds, Traumatic Wounds, etc.)), by End User (Hospitals, Home Care Settings and Others (Ambulatory Surgery Centers (ASCs), Specialty Clinics, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing prevalence of diabetes and related complications is also expected to drive the market growth for the forecast period. For instance, according to an article published in the National Library of Medicine, on October 29, 2021, the estimates in 2019 showed that 77 million individuals had diabetes in India, which is expected to rise to over 134 million by 2045. Approximately 57% of these individuals remain undiagnosed.
Key Takeaways of the Global Negative Pressure Wound Therapy (NPWT) Devices Market:
- The global negative pressure wound therapy (NPWT) devices market is expected to exhibit a CAGR of 6.5% during the forecast period due to the increasing adoption of strategies such as acquisitions by the key players. For instance, on March 14, 2022, Convatec Inc. announced that it has completed the acquisition of Triad Life Sciences Inc (‘Triad’), a science-driven, patient-focused biotech company, to enter in wound biologics segment.
- Among applications, diabetic foot ulcers segment is estimated to hold a dominant position in the global negative pressure wound therapy (NPWT) devices market over the forecast period, owing to the increasing research studies to evaluate the efficacy of NPWT devices for patients with diabetic foot ulcer. For instance, a study was published by Elsevier B.V., in 2021, aimed to compare NPWT and conventional saline dressings in diabetic foot ulcer (DFU) healing. The findings suggested that NPWT led to early reduction in ulcer size, more granulation tissue formation, shorter hospital stay, and complete wound healing.
- Among end user, hospitals segment is estimated to hold a dominant position in the global negative pressure wound therapy (NPWT) devices market over the forecast period, owing to the increasing launch of wound care units in hospitals and increase in the use of NPWT devices for the treatment of several wounds & injuries. For instance, in January 2022, the Surgery Dept. at Hamad Medical Corporation (HMC), a non-profit health care provider, announced the opening of two new wound advanced care units at Hamad General Hospital (HGH) and Hazm Mebaireek General Hospital (HMGH) in Qatar. The facilities also use NPWT devices for the healing of acute and chronic wounds.
- Major players operating in the global negative pressure wound therapy (NPWT) devices market include 3M, Cardinal Health, Smith+Nephew, Genadyne, DeRoyal Industries, Inc., Medela AG, Convatec Inc., Mölnlycke Health Care AB, PAUL HARTMANN AG, ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Ltd, Cork Medical, LLC, and Devon Medical Products
