According to a new report published by Allied Market Research, titled, "Negative pressure wound therapy devices Market by Product, Wound Type and End User: Opportunity Analysis and Industry Forecast, 2019–2027," the global negative pressure wound therapy devices market was valued at $2 billion in 2019, and is expected to reach $3 billion by 2027, registering a CAGR of 5.7% from 2019 to 2027.
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.
Increase in incidence rate of chronic diseases, such as diabetes mellitus & obesity, and rise in global geriatric population are expected to fuel the growth of the global negative pressure wound therapy devices market. In addition, innovations in wound care products such as introduction of single-use and portable NPWT devices drive the market growth. Moreover, development of cost-effective NPWT devices and rise in awareness among patients regarding wound care are expected to boost the negative pressure wound therapy devices market growth. However, unnoticed complications in the use of these devices and dearth of trained healthcare providers hamper the market growth. Conversely, high market potential in the untapped emerging economies, increased focus on improvement of treatment protocols, and significant unmet needs in wound care field are expected to provide potential growth opportunities for the market during the forecast period.
Among the NPWT devices, the conventional NPWT devices segment generated the highest revenue in the global negative pressure wound therapy devices market, owing to the ability of these devices to heal wounds with large amount of exudate. This feature leads to their use in hospital settings where serious chronic and acute wounds are treated.
However, the single-use NPWT devices segment is projected to grow at the highest CAGR, owing to advantages associated with these devices such as lightweight nature, better reimbursement insurance, and advanced dressing options. For instance, new single-use NPWT devices launched by key players in the market such as PICO 7 single use negative pressure wound therapy system offer various advantages such as these devices are canister-free; have patient-friendly applications; high moisture vapor transmission rate (MVTR) top film, which allows one-way transpiration of exudate vapor; and silicone contact, which allows fluid to pass and minimize pain on removal. Thus, such advantages lead to high adoption of single-use NPWT devices in the market, which, in turn, boost the growth rate.
By wound type, the chronic wounds segment is projected to grow with the highest CAGR, owing to surge in incidences of chronic diseases such as diabetes mellitus. Among chronic wounds, the diabetic foot ulcer segment is expected to exhibit the fastest growth rate, and this trend is projected to continue throughout the forecast period. However, in the acute wounds segment, the surgical wounds segment is estimated to register the highest growth rate, attributed to the increase in prevalence of surgical wounds.
On the basis of end-user, the hospitals & clinics segment occupied a major share of the negative pressure wound therapy devices market, owing to the fact that hospitals perform major surgical procedures and treat patients suffering from chronic diseases. Thus, these medical facilities receive a greater number of patients suffering from wounds, which fuels the growth of the market. The home care settings segment is expected to grow at a significant CAGR, owing to surge in launch of advanced single-use NPWT devices, which can be easily handled by patients at home. Furthermore, surge in awareness associated with the use of NPWT devices among general public is another major factor that boots the growth of the negative pressure wound therapy devices market.
On the basis of region, North America occupied the largest share of the negative pressure wound therapy devices market in 2020, and is expected to maintain its dominant position during the forecast period, owing to factors such as easy availability of devices. Furthermore, rise in the awareness related to use of these products and presence of large number of geriatric populations suffering from various chronic diseases also contribute to the growth of the market. Moreover, presence of large number of key players in North America is another major factor that drives the growth of the market. In addition, Asia- Pacific is expected to register fastest growth rate during the forecast period, owing to surge in healthcare expenditure and rise in prevalence of diabetes in the region. Other factors such as huge patient base of other chronic diseases that lead to chronic or acute wound also contribute to the growth of the negative pressure wound therapy devices market in Asia-Pacific.
Key Findings Of The Study
By wound type, the chronic wound segment occupied more two-thirds share of global negative pressure wound therapy devices market in 2019.
By product, the single use NPWT segment is anticipated to grow with the highest CAGR throughout the forecast period.
By end user, the ambulatory surgical centers segment occupied more than one-fourths share of negative pressure wound therapy devices market in 2019.
By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.