The size of the global market for Negative Pressure Wound Therapy is expected to reach US$ 9.9 Bn by 2032, expanding at a compound annual growth rate (CAGR) of 5.2%.
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"The Global Negative Pressure Wound Therapy Market 2022-2032 (USD Billion)")
The global negative pressure wound therapy market revenue is projected to reach close to USD 3,338.73 million by 2028, registering a CAGR of 5.7% for the estimated timeframe, 2021-2028. The growth projections are directly proportional to an upsurge of chronic disease occurrences such as diabetes mellitus and obesity. In addition to this, increasing patient awareness about the low-cost NPWT devices and rising fatalities due to accidents and traumas are also boosting the global negative pressure wound therapy market growth. However, dearth of educated professionals and difficulties faced by users pertaining to the usage of negative pressure wound therapy devices are likely to hamper growth in negative pressure wound therapy market. Furthermore, innovations in treatment protocols, government initiatives towards betterment of wound management to prevent surgical site infections and high potential in the underdeveloped and emerging nations are anticipated to be potent growth opportunities for the global negative pressure wound therapy market.
Negative pressure wound therapy devices are certain types of medical devices that are used for treating wounds implementing negative pressure. Negative pressure wound therapy devices are usually used to pump out the exudate material from the wound creating negative pressure which in turn helps accelerate healing and reduce infection. For example, canisters placed to remove material from a wound is gain huge traction in wound management across hospital and home care settings. The device used to pump out infectious material from a wound using negative pressure is called negative pressure wound therapy and the devices used to exert negative pressure are called negative pressure wound
devices. The purpose of the negative pressure wound therapy devices is to treat a variety of wounds including chronic and acute wound thereby accelerating the healing process and reduce infection. Devices employed to treat acute wounds like ulcers are also classed under negative pressure wound therapy devices. The market is comprised of well-established players and new entrants introducing simplified single usage devices and bringing technologically advanced NPWT resulting into market attractiveness for the new entrants and putting pressure on the established players.
The key players in the Global Negative Pressure Wound Therapy Market are Medela, Cardinal Health, Genadyne, Molnlycke Health Care AB, Lohmann & Rauscher Smith & Nephew, and 3M among others who held market leadership in providing sophisticated wound treatment products. The Global Negative Pressure Wound Therapy Market is identified by the presence of several emerging players and established veterans positioning the best business practices. Additionally, to maintain a competitive position in the market these players are introducing new and advanced solutions to the customer in the global market.
Negative Pressure Wound Therapy Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 9.9 Bn |
| Growth Rate | CAGR of 5.2% during 2022-2032 |
| Segment Covered | End User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Cardinal Health, Mölnlycke Health Care, Acelity L.P. Inc. (3M), Lohmann & Rauscher GmbH & Co. KG, Smith & Nephew, ConvaTec Inc., DeRoyal Industries, Inc., HARTMANN, Medela LLC, Haromed Bvba (Belgium), Carilex Medical GmbH. Genadyne Biotechnologies, Inc., Cork Medical, LLC, Alleva Medical Ltd. (Devon Medical Products, and Argentum Medical, LLC |
Key Segments of the Global Negative Pressure Wound Therapy Market
Product Type Overview,(USD Million)
- Conventional NPWT devices
- Single-use NPWT devices Wound
Wound Type Overview, (USD Million)
- Surgical
- Traumatic wounds
- Ulcers
- Diabetic foot ulcers
- Pressure ulcers
- Venous ulcers
- Burns
End-User Overview, (USD Million)
- Hospitals and clinics
- Home care setting
Region Overview, (USD Million)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Reasons for the study
- This report studies the negative pressure wound therapy market in detail by county, by type, by product, by end-user, and by geography.
- The report discusses the largest market segments, key growth market segments, Compound Annual Growth Rate from 2021 to 2028.
- The report provides an overall outlook of the market presenting the drivers, threats, opportunities, challenges, and latest trends impacting the global “keyword” market growth.
- Porter’s Five Forces analysis is done to study the bargaining power of suppliers and customers in the market, threat of new entrants, competition, and threat to traditional products of new substitutes.
- SWOT analysis is done to identify strength, limiting factors, opportunity, and challenges in individual market segments.
What does the report include?
- Market trends that are expected to have a major influence on the “keyword” industry study of leading participants.
- The important market categories that have been sharing maximum shareholding in the market.
- Financial information of the important manufacturers that have captured the market locally as well as globally.
- Financial information of the overall global “keyword” market from 2019-2020 in US million dollars.
- Major developments shaping the industry such as important events, high value investments, mergers & acquisitions.
- Highlights of the strengths of the market, growth opportunities, and key limiting factors likely to hamper marker performance in the market.
- Key factors in the market that need to be understood and addressed by the market players.
- Future market estimates and growth projections depending upon the past and current market data.
Who should buy this report?
- The report is designed to adequately resonate with the needs of industry stakeholders such as researcher fraternity, healthcare professionals as well as management executives who constantly remain abreast with the most recent happenings in the global ‘keyword’ market.
- Entities involved in the negative pressure wound therapy supply chain can refer this report as a source of authentic and reliable information of the market.
Frequently Asked Questions (FAQ) :
The market value of negative pressure wound therapy market in 2032 was US$ 9.9 Bn.
The negative pressure wound therapy market is growing at a CAGR of 5.2% over the forecast period.
The Global negative pressure wound therapy Market is Segmented on the basis of Product, Wound Type, End-user And Region.
The top companies that hold the market share in negative pressure wound therapy market are Medela, Cardinal Health, Genadyne, Molnlycke Health Care AB, Lohmann & Rauscher Smith & Nephew & among others.
The growing focus towards engaging the patients through technologically advanced and effective wound therapy devices are the reasons driving the demand for negative pressure wound therapy market solutions. Negative pressure wound therapy devices are becoming primary means to treat acute and chronic diseases like ulcers. These devices also offer efficient treatment methods that help in expediting wound recovery and limit infections. The growing focus of medium, large, and small medical institutions on implementing advanced treatment methods through optimum utilization of technology is accelerating the use of negative pressure wound therapy devices. Also, these devices allow the healthcare professionals to target the wound in an efficient manner to provide early recovery to the patients. Increasing number of healthcare organizations including the public and private are launching new devices offering improved healing and wound removal techniques. Additionally, to maintain a competitive position in the market these players are introducing new and advanced solutions for the customer in the global market.
Product Segment
On the basis of product type the global negative pressure wound therapy market is segregated into single-use NPWT devices and conventional NPWT devices. Amongst all the product types, the conventional NPWT devices gathered the highest revenue in the market as this product type has the ability to treat the wounds with substantial amount of exudate. As a result of their high usage and affordable pricing range this product type gathered the largest share in the global negative pressure wound therapy market.
Wound Type:
In terms of wound type, the negative pressure wound therapy market is diversified into diabetic foot ulcers, burn wounds, venous leg ulcers and pressure ulcers. Among these, the diabetic foot ulcers is likely to incur the lion’s share in terms of revenue generation because of the high prevalence of diabetic patients and high success rate in treating the disease with negative pressure wound therapy.
End-user Segment:
Based on end-user segment, the market is classified into hospitals, home care, and others. The hospital segment gathered the largest share in the market as the prevalence of chronic illnesses like ulcers caused by diabetes is on rise and patients are approaching hospitals for treating the disease. As a result, by the end of the forecast period the hospitals segment may see huge growth contributing to the growth of negative pressure wound therapy market.
Based on regional performance, North America sustained the largest revenue profits in the past years including 2021 and is further expected to maintain the tempo for the upcoming years through 2021-2028 as well. Factors such as simple device availability has driven the market growth in this region. Moreover, the presence of high geriatric population suffering from chronic illnesses is also contributing to the growth of market in this region. Besides, APAC region also generated significant revenue in the market due to factors such as large patient base suffering from other chronic diseases. Moreover, the MEA and Latin American nations recorded moderate CAGR due to lack of advanced treatment therapies and absence of proper reimbursement policies.