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US Negative Pressure Wound Therapy Market Research Report Forecast to 2032
Market Report I 2023-12-02 I 77 Pages I Market Research Future
US Negative Pressure Wound Therapy Market Research Report Forecast to 2032
Market Overview
The market for US negative pressure wound therapy is developing due to an increase in the occurrence of chronic wounds and a preference for improved wound care. Furthermore, the expanding geriatric population is fueling growth in the US negative pressure wound therapy market. However, the availability of alternative wound healing techniques and complications from negative pressure wound therapy are limiting the growth of the US negative pressure wound therapy market. Moreover, increased strategic initiatives adopted by industry competitors are likely to give attractive growth prospects for the US negative pressure wound therapy industry.
Negative Pressure Wound Therapy (NPWT) is a medical treatment that promotes wound healing by using subatmospheric pressure, also known as Vacuum-Assisted Wound Closure (VAC). NPWT works by pulling fluid and bacteria from the wound, creating a moist, healing environment. Negative pressure also aids in the removal of dead tissue and debris, which can promote healing even more. It is a good treatment for a wide variety of wounds. It can aid in wound reduction, healing, and infection prevention.
The expected growth in the market can be attributed to the increasing prevalence of chronic wounds, increasing preference for advanced wound care, and growing geriatric population. However, the market is also held back by availability of alternative wound healing modalities and complication from negative pressure wound therapy. Nevertheless, it is anticipated that the rising startegic initiatives taken by the market players will create lucrative opportunities for the players operating in the US negative pressure wound therapy market.
Market Segmentation
Based on product type, the US negative pressure wound therapy market has been segmented into conventional NPWT systems, single-use NPWT systems, and NPWT accessories. The conventional NPWT systems segment dominated the market in 2022, while the single-use NPWT systems segment is projected to be the faster-growing segment during the forecast period, 2023-2032.
Based on wound type, the US negative pressure wound therapy market has been segmented into diabetic foot ulcers, venous leg ulcers, pressure ulcers, surgical & traumatic wounds, burns, and others.
Based on end user, the US negative pressure wound therapy market has been segmented into hospitals and clinics, ambulatory surgical centers, and homecare settings.
Major Players
The key market players include Cardinal Health, Inc (US), 3M (US), B. Braun SE (Germany), Smith & Nephew (UK), and Convatec Inc (UK), Medela AG (UK), Cork Medical, LLC (US), Molnlycke Health Care AB (Sweden), DeRoyal Industries, Inc (US), and Paul Hartmann AG (Germany).
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 10
1.1 OVERVIEW 10
2 MARKET INTRODUCTION 11
2.1 DEFINITION 11
2.2 SCOPE OF THE STUDY 11
2.3 RESEARCH OBJECTIVE 11
2.4 MARKET STRUCTURE 12
2.5 ASSUMPTIONS & LIMITATIONS 12
3 RESEARCH METHODOLOGY 13
3.1 DATA MINING 13
3.2 SECONDARY RESEARCH 14
3.3 PRIMARY RESEARCH 15
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 16
3.5 FORECASTING TECHNIQUES 16
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 17
3.6.1 BOTTOM-UP APPROACH 18
3.6.2 TOP-DOWN APPROACH 19
3.7 DATA TRIANGULATION 19
3.8 VALIDATION 19
4 MARKET DYNAMICS 20
4.1 OVERVIEW 20
4.2 DRIVERS 21
4.2.1 INCREASING PREVALENCE OF CHRONIC WOUNDS 21
4.2.2 INCREASING PREFERENCE FOR ADVANCED WOUND CARE 21
4.2.3 GROWING GERIATRIC POPULATION 21
4.3 RESTRAINTS 22
4.3.1 AVAILABILITY OF ALTERNATIVE WOUND HEALING MODALITIES 22
4.3.2 COMPLICATIONS FROM NEGATIVE PRESSURE WOUND THERAPY 22
4.4 OPPORTUNITIES 23
4.4.1 RISING STRATEGIC INITIATIVES TAKEN BY THE MARKET PLAYERS 23
5 MARKET FACTOR ANALYSIS 24
5.1 VALUE CHAIN ANALYSIS 24
5.1.1 R&D 25
5.1.2 MANUFACTURING 25
5.1.3 DISTRIBUTION & SALES 25
5.1.4 POST-SALES MONITORING 25
5.2 PORTER'S FIVE FORCES MODEL 26
5.2.1 THREAT OF NEW ENTRANTS 26
5.2.2 BARGAINING POWER OF SUPPLIERS 27
5.2.3 THREAT OF SUBSTITUTES 27
5.2.4 BARGAINING POWER OF BUYERS 27
5.2.5 INTENSITY OF RIVALRY 27
5.3 IMPACT OF COVID-19 ON THE US NEGATIVE PRESSURE WOUND THERAPY MARKET 28
5.3.1 IMPACT ON SUPPLY CHAIN 28
5.3.2 IMPACT ON MARKET PLAYERS 28
5.4 NEGATIVE PRESSURE WOUND THERAPY PRODUCTS PRICING ANALYSIS, 2022 28
5.5 REIMBURSEMENT SCENARIO FOR NEGATIVE PRESSURE WOUND THERAPY PRODUCTS 29
5.5.1 GOVERNMENT REIMBURSMENT SCENARIO 29
5.5.2 PRIVATE REIMBURSMENT SCENARIO 29
6 US NEGATIVE PRESSURE WOUND THERAPY MARKET ANALYSIS 31
7 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY PRODUCT TYPE 33
7.1 OVERVIEW 33
8 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY WOUND TYPE 36
8.1 OVERVIEW 36
9 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY END USER 40
9.1 OVERVIEW 40
10 COMPETITIVE LANDSCAPE 43
10.1 OVERVIEW 43
10.2 COMPETITIVE BENCHMARKING 44
10.3 THE LEADING PLAYER IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE US NEGATIVE PRESSURE WOUND THERAPY MARKET 45
10.4 KEY DEVELOPMENT ANALYSIS 45
10.5 KEY DEVELOPMENTS & GROWTH STRATEGIES 46
10.5.1 PRODUCT LAUNCH/ PRODUCT APPROVAL 46
10.5.2 PARTNERSHIP 46
10.6 MAJOR PLAYERS FINANCIAL 47
10.6.1 SALES (USD MILLION), 2022 47
10.6.2 RESEARCH & DEVELOPMENT EXPENDITURE (USD MILLION), 2022 47
11 COMPANY PROFILE 48
11.1 CARDINAL HEALTH, INC. 48
11.1.1 COMPANY OVERVIEW 48
11.1.2 FINANCIAL OVERVIEW 49
11.1.3 PRODUCTS OFFERED 49
11.1.4 KEY DEVELOPMENTS 50
11.1.5 KEY STRATEGIES 50
11.2 CONVATEC INC 51
11.2.1 COMPANY OVERVIEWS 51
11.2.2 FINANCIAL OVERVIEW 52
11.2.3 PRODUCTS OFFERED 52
11.2.4 KEY DEVELOPMENTS 52
11.2.5 SWOT ANALYSIS 53
11.2.6 KEY STRATEGIES 53
11.3 3M 54
11.3.1 COMPANY OVERVIEW 54
11.3.2 FINANCIAL OVERVIEW 54
11.3.3 PRODUCTS OFFERED 55
11.3.4 KEY DEVELOPMENTS 55
11.3.5 SWOT ANALYSIS 56
11.3.6 KEY STRATEGIES 56
11.4 SMITH AND NEPHEW 57
11.4.1 COMPANY OVERVIEW 57
11.4.2 FINANCIAL OVERVIEW 57
11.4.3 PRODUCTS OFFERED 58
11.4.4 KEY DEVELOPMENTS 58
11.4.5 SWOT ANALYSIS 58
11.4.6 KEY STRATEGIES 59
11.5 MEDELA AG 60
11.5.1 COMPANY OVERVIEW 60
11.5.2 FINANCIAL OVERVIEW 60
11.5.3 PRODUCTS OFFERED 60
11.5.4 KEY DEVELOPMENTS 60
11.5.5 KEY STRATEGIES 60
11.6 B. BRAUN SE 61
11.6.1 COMPANY OVERVIEW 61
11.6.2 FINANCIAL OVERVIEW 62
11.6.3 PRODUCTS OFFERED 62
11.6.4 KEY DEVELOPMENTS 63
11.6.5 SWOT ANALYSIS 63
11.6.6 KEY STRATEGIES 63
11.7 CORK MEDICAL, LLC 64
11.7.1 COMPANY OVERVIEW 64
11.7.2 FINANCIAL OVERVIEW 64
11.7.3 PRODUCTS OFFERED 64
11.7.4 KEY DEVELOPMENTS 65
11.7.5 KEY STRATEGIES 65
11.8 MOLNLYCKE HEALTH CARE AB 66
11.8.1 COMPANY OVERVIEWS 66
11.8.2 FINANCIAL OVERVIEW 67
11.8.3 PRODUCTS OFFERED 67
11.8.4 KEY DEVELOPMENTS 68
11.8.5 KEY STRATEGIES 68
11.9 DEROYAL INDUSTRIES, INC 69
11.9.1 COMPANY OVERVIEW 69
11.9.2 FINANCIAL OVERVIEW 69
11.9.3 PRODUCTS OFFERED 69
11.9.4 KEY DEVELOPMENTS 70
11.9.5 KEY STRATEGIES 70
11.10 PAUL HARTMANN AG 71
11.10.1 COMPANY OVERVIEW 71
11.10.2 FINANCIAL OVERVIEW 72
11.10.3 PRODUCTS OFFERED 72
11.10.4 KEY DEVELOPMENTS 73
11.10.5 SWOT ANALYSIS 73
11.10.6 KEY STRATEGIES 73
12 APPENDIX 74
12.1 REFERENCES 74
12.2 RELATED REPORTS 75
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS & LIMITATIONS 12
TABLE 2 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 15
TABLE 3 NEGATIVE PRESSURE WOUND THERAPY PRODUCTS PRICING ANALYSIS, 2022 28
TABLE 4 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY PRODUCT TYPE, 2019-2032 (USD MILLION) 35
TABLE 5 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY WOUND TYPE, 2019-2032 (USD MILLION) 38
TABLE 6 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY END USER, 2019-2032 (USD MILLION) 42
TABLE 7 MAJOR PLAYERS IN THE US NEGATIVE PRESSURE WOUND THERAPY MARKET 43
TABLE 8 MOST ACTIVE PLAYER IN THE US NEGATIVE PRESSURE WOUND THERAPY MARKET 45
TABLE 9 PRODUCT LAUNCH/ PRODUCT APPROVAL 46
TABLE 10 PARTNERSHIP 46
TABLE 11 CARDINAL HEALTH, INC: PRODUCTS OFFERED 49
TABLE 12 CONVATEC GROUP PLC: PRODUCTS OFFERED 52
TABLE 13 3M: PRODUCTS OFFERED 55
TABLE 14 3M: KEY DEVELOPMENTS 55
TABLE 15 SMITH AND NEPHEW: PRODUCTS OFFERED 58
TABLE 16 SMITH AND NEPHEW: KEY DEVELOPMENTS 58
TABLE 17 MEDELA AG: PRODUCTS OFFERED 60
TABLE 18 B. BRAUN SE: PRODUCTS OFFERED 62
TABLE 19 CORK MEDICAL, LLC: PRODUCTS OFFERED 64
TABLE 20 CORK MEDICAL, LLC: KEY DEVELOPMENTS 65
TABLE 21 MOLNLYCKE HEALTH CARE AB: PRODUCTS OFFERED 67
TABLE 22 DEROYAL INDUSTRIES, INC: PRODUCTS OFFERED 69
TABLE 23 PAUL HARTMANN AG: PRODUCTS OFFERED 72
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LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 10
FIGURE 2 US NEGATIVE PRESSURE WOUND THERAPY MARKET 12
FIGURE 3 BOTTOM-UP AND TOP-DOWN APPROACHES 18
FIGURE 4 MARKET DYNAMICS: ANALYSIS OF THE US NEGATIVE PRESSURE WOUND THERAPY MARKET 20
FIGURE 5 DRIVER IMPACT ANALYSIS 22
FIGURE 6 RESTRAINT IMPACT ANALYSIS 23
FIGURE 7 VALUE CHAIN ANALYSIS: US NEGATIVE PRESSURE WOUND THERAPY MARKET 24
FIGURE 8 PORTER'S FIVE FORCES ANALYSIS:US NEGATIVE PRESSURE WOUND THERAPY MARKET 26
FIGURE 9 US MARKET ANALYSIS: NEGATIVE PRESSURE WOUND THERAPY MARKET, 2019-2032 (USD MILLION) 32
FIGURE 10 US NEGATIVE PRESSURE WOUND THERAPY MARKET, PRODUCT TYPE SEGMENT ATTRACTIVENESS, 2019-2032 (USD MILLION) 34
FIGURE 11 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY PRODUCT TYPE, 2022 & 2032 (USD MILLION) 34
FIGURE 12 US NEGATIVE PRESSURE WOUND THERAPY MARKET SHARE (%), BY PRODUCT TYPE, 2022 35
FIGURE 13 US NEGATIVE PRESSURE WOUND THERAPY MARKET, WOUND TYPE SEGMENT ATTRACTIVENESS, 2019-2032 (USD MILLION) 37
FIGURE 14 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY WOUND TYPE, 2022 & 2032 (USD MILLION) 38
FIGURE 15 US NEGATIVE PRESSURE WOUND THERAPY MARKET SHARE (%), BY WOUND TYPE, 2022 39
FIGURE 16 US NEGATIVE PRESSURE WOUND THERAPY MARKET, END USER SEGMENT ATTRACTIVENESS, 2019-2032 (USD MILLION) 41
FIGURE 17 US NEGATIVE PRESSURE WOUND THERAPY MARKET, BY END USER, 2022 & 2032 (USD MILLION) 41
FIGURE 18 US NEGATIVE PRESSURE WOUND THERAPY MARKET SHARE (%), BY END USER, 2022 42
FIGURE 19 BENCHMARKING OF MAJOR COMPETITORS 44
FIGURE 20 US NEGATIVE PRESSURE WOUND THERAPY MARKET: COMPETITIVE LANDSCAPE 45
FIGURE 21 MAJOR PLAYERS SALES (USD MILLION), 2022 47
FIGURE 22 MAJOR PLAYER R&D EXPENDITURE (USD MILLION), 2022 47
FIGURE 23 CARDINAL HEALTH, INC.: FINANCIAL OVERVIEW SNAPSHOT 49
FIGURE 24 CONVATEC INC: FINANCIAL OVERVIEW SNAPSHOT 52
FIGURE 25 CONVATEC GROUP PLC: SWOT ANALYSIS 53
FIGURE 26 3M: FINANCIAL OVERVIEW SNAPSHOT 54
FIGURE 27 3M: SWOT ANALYSIS 56
FIGURE 28 SMITH AND NEPHEW: FINANCIAL OVERVIEW SNAPSHOT 57
FIGURE 29 SMITH AND NEPHEW: SWOT ANALYSIS 58
FIGURE 30 B. BRAUN SE: FINANCIAL OVERVIEW SNAPSHOT 62
FIGURE 31 B. BRAUN SE: SWOT ANALYSIS 63
FIGURE 32 MOLNLYCKE HEALTH CARE AB: FINANCIAL OVERVIEW SNAPSHOT 67
FIGURE 33 PAUL HARTMANN AG: FINANCIAL OVERVIEW SNAPSHOT 72
FIGURE 34 PAUL HARTMANN AG: SWOT ANALYSIS 73
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