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Negative Pressure Wound Therapy Market Assessment, By Product Type [Single-Use NPWT, Conventional NPWT, Accessories and Consumables], By Wound Type [Traumatic Wounds, Pressure Injuries, Diabetic Foot Ulcers, Burns and Surgical Wounds, Others], By End-user [Hospitals, Clinics, Homecare Settings, Others], By Region, Opportunities and Forecast, 2017-2031F
Market Report I 2024-04-19 I 222 Pages I Market Xcel - Markets and Data
Global negative pressure wound therapy (NPWT) market size was valued at USD 2.31 billion in 2023, and is expected to reach USD 3.49 billion in 2031, with a CAGR of 5.28% for the forecast period between 2023 and 2031F. The negative pressure wound therapy (NPWT) market is a fast-growing segment within the global advanced wound care management market. The market is driven by several factors, including the increasing prevalence of diabetes and associated foot ulcers, growing technological advancements and innovations in NPWT, growing cases of wounds including ulcers wounds, surgical and burn wounds, and growing demand for negative pressure wound therapies. Diabetes foot ulcer is a major concern for diabetic patients and with the increasing prevalence of diabetes, the diabetic foot ulcers patients are increasing, further driving the demand for NPWT. Negative pressure wound therapies have proven highly effective in managing and curing wounds in less time, further driving demand in the NPWT market.
Additionally, a growing number of surgical procedures and increasing cases of road accidents are leading to an increasing number of patients requiring wound care, further fueling the market growth for the global negative pressure wound therapy (NPWT) market. However, the lack of skilled professionals and technical expertise required for providing NPWT and the high cost of equipment are some of the restraints for the market.
For instance, in August 2023, Medela AG, a Swiss company specializing in medical vacuum devices, announced the expansion of its negative pressure wound therapy portfolio with a new integrated dressing product named 'Invia Integrated Dressing'. The dressing received FDA approval in July 2023 and is designed to work well with Medela NPWT pumps, Liberty, and MotionTM. The integrated dressing is a 'peel-and-stick' adhesive, having a three-layer fluid handling pad that contains a skin-friendly silicone adhesive border with a quick-connector for easy handling.
Growing Prevalence of Diabetes and Associated Foot Ulcers
The growing prevalence of diabetes and associated foot ulcers significantly drives the negative pressure wound therapy (NPWT) market. Diabetes, being a lifestyle disorder, comes with several comorbidities, one of the major complications in diabetes is foot ulcers. Diabetic foot ulcers (DFU) are a common, highly morbid consequence of longstanding and poorly managed diabetes and are estimated to affect about 19-34% of diabetes patients in their lifetime. NPWT is an effective and cost-efficient method for managing diabetic foot ulcers in diabetic patients. Several research supports the fact that negative pressure wound therapy promotes efficient wound healing in diabetic foot ulcers. For instance, according to research published in Nature, in September 2023, PRDX2 (Peroxiredoxin 2) promotes NHDF proliferation and migration through its antioxidant properties, which is the proposed mechanism of negative pressure wound therapies for the treatment of chronic wounds like diabetic foot ulcers.
Growing Technological Advancements in Negative Pressure Wound Therapy (NPWT)
Growing technological advancements and innovations in negative pressure wound therapy positively impact the market. Several innovations like optimization of range of pressure settings, improved adhesive nature of dressing, and humidity management of dressings used in therapies are likely to promote the use and demand of NPWT, further fueling the market growth. Technological advancements make NPWT devices more effective, user-friendly, and affordable, thereby driving their adoption in both hospitals and home healthcare settings. Market players are dedicated to harnessing the opportunity to enhance their growth in the market through innovative solutions.
For instance, in April 2023, 3M announced that it received FDA approval for Veraflo Cleanse Choice Complete Dressing and Veraflo Cleanse Choice Dressing for hydromechanical removal of infectious materials, non-viable tissues, and wound debris from wounds, thus reducing the number of surgical debridement required. It will improve the granulation formation and speed up the wound healing process. These dressings are crucial in addition to 3M's Veraflow portfolio containing negative pressure wound therapy products.
Conventional NPWT Segment is Expected to Dominate During Forecast Period
Conventional negative pressure wound therapies include reusable components thus minimizing the wastage and saving resources. The segment is expected to gain traction from healthcare professionals and hospitals as the vacuum devices can be reused and dressing needs to be changed, thus saving effort and resources for repeated purchase. It provides better management of exudates from severe wounds, improving the wound-healing process. Despite the popularity of conventional NPWT, single-use negative pressure wound therapy segment is expected to grow faster owing to post-pandemic alertness.
North America is Expected to Dominate the Market
With high investment in research and development activities, technological advancements by key players, and highly advanced healthcare infrastructure in North American countries like the United States and Canada, the region is expected to dominate the market with the highest value share. The supportive government initiatives for managing blood-related diseases are driving the growth of the market in the region. The high prevalence of diabetes and associated diabetic foot ulcers and other types of pressure ulcers in the region is contributing to the dominance of North America in the global negative pressure wound therapy market.
Key Players Landscape and Outlook
Market players are expanding their product offerings and giving their customers access to a wide range of cutting-edge and novel products. To gain market share, companies are expanding the range of products they offer. Industry participants use a variety of growth methods, including collaborations, mergers and acquisitions, product launches, and the development of new goods, to bolster their positions in the market.
In May 2023, Smith & Nephew plc announced that its PICO single-use negative pressure wound therapy systems have received an Innovative Technology contract from Vizient, Inc. The contract was given to Smith & Nephew plc, based on the recommendation of hospital experts who serve on one of Vizient's member-led councils. Innovative Technology program aims to improve clinical care and enhance the business model for health care organizations with potential products recommended by healthcare professionals.
1. Research Methodology
2. Project Scope & Definitions
3. Executive Summary
4. Global Negative Pressure Wound Therapy Market Outlook, 2017-2031F
4.1. Market Size and Forecast
4.1.1. By Value
4.1.2. By Volume
4.2. By Product Type
4.2.1. Single-Use NPWT
4.2.2. Conventional NPWT
4.2.3. Accessories and Consumables
4.3. By Wound Type
4.3.1. Traumatic Wounds
4.3.2. Pressure Injuries
4.3.3. Diabetic Foot Ulcers
4.3.4. Burns and Surgical Wounds
4.3.5. Others
4.4. By End-user
4.4.1. Hospitals
4.4.2. Clinics
4.4.3. Homecare Settings
4.4.4. Others
4.5. By Region
4.5.1. North America
4.5.2. Europe
4.5.3. Asia Pacific
4.5.4. South America
4.5.5. Middle East & Africa
4.6. By Company Market Share (%), 2023
5. Global Negative Pressure Wound Therapy Market Outlook, 2017-2031F
5.1. North America
5.1.1. Market Size & Forecast
5.1.1.1. By Value
5.1.1.2. By Volume
5.1.2. By Product Type
5.1.2.1. Single-Use NPWT
5.1.2.2. Conventional NPWT
5.1.2.3. Accessories and Consumables
5.1.3. By Wound Type
5.1.3.1. Traumatic Wounds
5.1.3.2. Pressure Injuries
5.1.3.3. Diabetic Foot Ulcers
5.1.3.4. Burns and Surgical Wounds
5.1.3.5. Others
5.1.4. By End-user
5.1.4.1. Hospitals
5.1.4.2. Clinics
5.1.4.3. Homecare Settings
5.1.4.4. Others
5.1.5. United States*
5.1.5.1. Market Size & Forecast
5.1.5.1.1. By Value
5.1.5.1.2. By Volume
5.1.5.2. By Product Type
5.1.5.2.1. Single-Use NPWT
5.1.5.2.2. Conventional NPWT
5.1.5.2.3. Accessories and Consumables
5.1.5.3. By Wound Type
5.1.5.3.1. Traumatic Wounds
5.1.5.3.2. Pressure Injuries
5.1.5.3.3. Diabetic Foot Ulcers
5.1.5.3.4. Burns and Surgical Wounds
5.1.5.3.5. Others
5.1.5.4. By End-user
5.1.5.4.1. Hospitals
5.1.5.4.2. Clinics
5.1.5.4.3. Homecare Settings
5.1.5.4.4. Others
5.1.6. Canada
5.1.7. Mexico
*All segments will be provided for all regions and countries covered
5.2. Europe
5.2.1. Germany
5.2.2. France
5.2.3. Italy
5.2.4. United Kingdom
5.2.5. Russia
5.2.6. Netherlands
5.2.7. Spain
5.2.8. Turkey
5.2.9. Poland
5.3. South America
5.3.1. Brazil
5.3.2. Argentina
5.4. Asia-Pacific
5.4.1. India
5.4.2. China
5.4.3. Japan
5.4.4. Australia
5.4.5. Vietnam
5.4.6. South Korea
5.4.7. Indonesia
5.4.8. Philippines
5.5. Middle East & Africa
5.5.1. Saudi Arabia
5.5.2. UAE
5.5.3. South Africa
6. Market Mapping, 2023
6.1. By Product Type
6.2. By Wound Type
6.3. By End-user
6.4. By Region
7. Macro Environment and Industry Structure
7.1. Supply Demand Analysis
7.2. Import Export Analysis - Volume and Value
7.3. Supply/Value Chain Analysis
7.4. PESTEL Analysis
7.4.1. Political Factors
7.4.2. Economic System
7.4.3. Social Implications
7.4.4. Technological Advancements
7.4.5. Environmental Impacts
7.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
7.5. Porter's Five Forces Analysis
7.5.1. Supplier Power
7.5.2. Buyer Power
7.5.3. Substitution Threat
7.5.4. Threat from New Entrant
7.5.5. Competitive Rivalry
8. Market Dynamics
8.1. Growth Drivers
8.2. Growth Inhibitors (Challenges, Restraints)
9. Regulatory Framework and Innovation
9.1. Clinical Trials
9.2. Patent Landscape
9.3. Regulatory Approvals
9.4. Innovations/Emerging Technologies
10. Key Players Landscape
10.1. Competition Matrix of Top Five Market Leaders
10.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
10.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
10.4. SWOT Analysis (For Five Market Players)
10.5. Patent Analysis (If Applicable)
11. Pricing Analysis
12. Case Studies
13. Key Players Outlook
13.1. Smith & Nephew plc
13.1.1. Company Details
13.1.2. Key Management Personnel
13.1.3. Products & Services
13.1.4. Financials (As reported)
13.1.5. Key Market Focus & Geographical Presence
13.1.6. Recent Developments
13.2. 3M Company
13.3. Molnlycke Health Care AB
13.4. Cardinal Health, Inc.
13.5. ConvaTec Group Plc
13.6. Paul Hartmann AG
13.7. DeRoyal Industries, Inc.
13.8. Lohmann & Rauscher International GmbH & Co KG
13.9. Medela AG
13.10. Genadyne Biotechnologies Inc.
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
14. Strategic Recommendations
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