Demand for negative pressure wound therapy devices is on the rise, owing to surge in prevalence of various chronic diseases such as diabetes, which lead to wound formation. Furthermore, surge in adoption of novel and advanced single use NPWT devices is another factor that fuels the market growth.
As per the report published by Allied Market Research, the global negative pressure wound therapy devices market was pegged at $2.14 billion in 2020, and is anticipated to garner $3.34 billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.
Surge in incidences of chronic conditions, rapid aging populations, and technological advancements in NPWT devices to deal with complex wounds have boosted the growth of the global negative pressure wound therapy devices market. Moreover, rise in awareness to reduce healthcare costs supplemented the market growth. However, complications related to NPWT hamper the market growth. On the contrary, surge in focus toward advanced treatment protocols and significant unmet needs in wound care is expected to open new opportunities for the market players in the coming years.
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Rapidly aging population, increase in incidences of chronic conditions, technological advancements in NPWT devices to deal with complex wounds, and surge in awareness to reduce healthcare costs drive the growth of the global negative pressure wound therapy devices market. On the other hand, complications related to NPWT impede the growth to some extent. However, increased focus toward advanced treatment protocols and significant unmet needs in wound care are expected to create multiple opportunities in the industry.
NPWT, also known as vacuum-assisted wound closure therapy, involves the application of sub atmospheric pressure to heal acute and chronic wounds. NPWT devices are available in a variety of shapes and sizes to match the body contour of a patient and the size of the wound to be treated. These devices consist of a vacuum pump, drainage tubing, and a dressing set, which promote wound healing, reduce recurrent use of dressings, provide efficient option for management of closed surgical incision lines, and improves patient well-being.
Negative Pressure Wound Therapy Devices Market Report Highlights:
By Product:
Conventional NPWT Devices
Single Use NPWT Devices
By Wound Type:
Chronic Wounds
Acute Wounds
By Region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Rest of Europe)
Asia-Pacific (Japan, China, India, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
By Key Market Players:
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.
Talley group Ltd.
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North America to rule the roost in terms of revenue-
Based on region, North America garnered the major share in 2019, holding around two-fifths of the global negative pressure wound therapy devices market. This is due to the presence of key players in the region, easy availability of NPWT devices, surge in prevalence of medical conditions leading to acute and chronic wounds, and rise in launch of new and advanced products. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 7.9% till 2027. This is attributed to factors such as surge in adoption of NPWT devices and rise in healthcare expenditure.
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