Negative Pressure Wound Therapy Market Overview
Global Negative Pressure Wound Therapy (NPWT) Devices Market was valued at $2,082 million in 2015 and is expected to reach $2,746 million by 2022, supported by a CAGR of 4.0% during the forecast period 2016 - 2022. Negative pressure wound therapy (NPWT) or vacuum-assisted wound closure therapy generally refers to the application of sub-atmospheric pressure heal acute and chronic wounds. NPWT has gained popularity as a treatment modality for the management of many acute and chronic wounds such as diabetic ulcers, venous ulcers, arterial ulcers, pressure ulcers, first- and second-degree burns, and wounds with large amounts of drainage, which are at high risk for infection. The demand for NPWT has increased considerably owing to its advantages including better healing of transplanted skin, reduced hospital stays, reduced chances of wound infections following trauma and open fractures, and lower hospital mortality in patients with mediastinitis.
NPWT systems are available in a variety of shapes and sizes to suit the patient’s body contour and the size of wound to be treated. They consist of a vacuum pump, drainage tubing, and a dressing set. The pump may be stationary or portable, relies on AC or battery power, allows for regulation of the suction strength, has alarm indication for loss of suction, and has a replaceable collection canister. NPWT devices are of two types: single-use and conventional. Single-use NPWT devices are used in combination with a wound filler to manage deep wounds, with low to moderate levels of exudate. Conventional NPWT devices are used for the major wounds with greater depth and large amount of exudate.
The key drivers of the market are rise in cases of chronic diseases such as diabetes mellitus and obesity, increase in casualties caused due to accidents and trauma, rise in patient awareness about the devices, growth in geriatric population, and technological advancements such as development of cost-effective disposable NPWT devices. However, unnoticed complications of NPWT, such as injuries and deaths due to infection caused, and lack of evidence of clinical effectiveness are expected to impede the market growth.
Top Impacting Factors for the Global NPWT Market
Diabetes mellitus, a serious chronic disease, is one of the major reasons for the development of foot ulcers. According to the American Podiatric Medical Association (APMA), ~15% of the diabetic patients suffer from foot ulcers. The global diabetic population reached 415 million in 2015. This rapid increase in the diabetic population increase the probability of individuals getting affected by diabetic foot ulcer. Thus, rise in number of diabetic patients is expected to impact the demand of NPWT devices for the treatment of foot ulcers.
Diabetes prevalence by WHO (2014)
Australia possesses high market potential for NPWT devices, owing to the rise in incidence of chronic wounds and geriatric population, increase in healthcare expenditure, and better focus on the development of cost-effective and disposable NPWT devices. According to Wound Prevalence Research, chronic wounds affect more than 433,000 Australians every year, and are most commonly found in the geriatric population. As projected by the Australian Bureau of Statistics, the geriatric population will increase three folds from 2.8 million in 2007 to 7.5 million in 2050, thereby increasing the risk of aged people developing a chronic wound from lifestyle-related diseases. Moreover, rise in number of cases of chronic diseases, such as diabetes mellitus and obesity, also drive the market growth.
Australia: NPWT Devices Market, 2014-2022 ($Million)
Chronic wounds are wounds that do not heal within a four- to six-week period. They generally include foot ulcers, leg ulcers, and malignant wounds. Foot ulcers are common in patients with medical conditions such as diabetes or vascular conditions. Leg ulcers is categorized into venous leg ulcers, arterial leg ulcers, mixed venous/arterial leg ulcers, and neuropathic leg ulcers. These have a prevalence rate of around 1% to 2%, and it is slightly higher in the older adult population. Individuals having chronic medical conditions, such as high cholesterol, severe burns, vascular disease, anemia, or AIDS, are at a higher risk of developing chronic wounds. Thus, the rise in prevalence of chronic wounds stimulates the negative pressure wound therapy (NPWT) devices market as these have better healing properties and even reduce risk of infection following trauma and open fractures.
The key companies operating in the NPWT devices market are Acelity L.P. Inc., Smith & Nephew plc, ConvaTec Inc., Mölnlycke Health Care, Coloplast A/S, Cardinal Health Inc., Medela AG, Paul Hartmann AG, and Devon Medical Talley Group Limited.
The other players operating in the market include Atmos Inc., Innovative Therapies, Inc., Invacare Corporation, Prospera, Medline Industries Inc., Carilex Medical GmBH, 4L Health Co. Ltd., Wondermed Ltd., and Lohmann & Rauscher GmbH & Co. KG
NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET KEY BENEFITS
- The study provides an in-depth analysis of the global NPWT devices market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2014 to 2022 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The report provides actual historical figures for 2014 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as base.
- Competitive intelligence highlights the business practices followed by leading players across various geographical regions.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities in these geographies.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET KEY MARKET SEGMENTS
The global NPWT devices market is segmented based on product, application, end user, and geography.
By Product Type
- Single-Use NPWT Devices
- Conventional NPWT Devices
- Chronic Wounds
- Pressure Ulcer
- Diabetic Foot Ulcer
- Venous Leg Ulcer
- Arterial Ulcer
- Acute Wounds
- Burns & Trauma
- Surgical Wound
By End User
- Hospitals & Clinics
- Ambulatory Surgery Centers (ASCs)
- Home Care settings
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA