Negative Pressure Wound Therapy (NPWT) Market Insights & Forecast To 2031

Major Macro-Economic Indicators Impacting the Market Growth

Negative-pressure Wound Therapy Devices Market Region Chart

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

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Global Negative-pressure Wound Therapy (NPWT) Devices Market: Growth Drivers and Challenges

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Growth Drivers

Increasing Cases of Burns – Burn injury is a worldwide health concern largely caused by heat or radiation, radioactivity, abrasion, electricity, or chemical contact. As per the World Health Organization report, burns are accountable for approximately 180 000 deaths each year.
Rise in Diabetes Cases - Diabetes is a metabolic disorder characterized by high blood sugar levels. Diabetes-related high blood sugar leads to harm nerves, eyes, kidneys, and other organs of body if left untreated. Worldwide growing cases of diabetes are resulting in sores that do not heal properly. For instance, there are 422 million diabetics in the world, and diabetes is primarily responsible for 1.5 million deaths yearly.
Global Upsurge in Venous Leg Ulcers - Venous leg ulcers occur as a result of high blood pressure in veins of lower leg. If left untreated, additional pressure and excess fluid in the affected area lead to the formation of an open sore. Such ulcers are chronic (long-lasting) sores which mostly occurs in old population that need required treatment on time. In the United States and Europe, it is estimated that 1 to 4% of the elderly population is affected by venous leg ulcers.
Expansion of Geriatric Population - The risk of certain medical conditions is heavily influenced by age and lifestyle. Elderly individuals frequently face a variety of health issues that significantly affect their overall quality of life. As per the World Health Organization (WHO), in 2019, there were around 1 billion people aged 60 and older. This figure is expected to rise nearly 1.4 billion by 2030 and 2.1 billion by 2050.
Growing Prevalence of Post-Surgical Wounds – The chances of a patient getting an infection at the surgical site after surgery are figured to be between 2% and 7%, and the same type of infection is noticed to gross above 19% in the case of contaminated wounds.

Challenges

High Prices of the NPWT Devices
Partial Awareness About the NPWT Devices
High Cost of Treatment

The global negative-pressure wound therapy (NPWT) devices market is segmented and analyzed for demand and supply by application into burn wounds, surgical wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others, out of which, the diabetic foot ulcers segment is anticipated to significantly grow over the forecast period owing to the globally increasing prevalence of diabetic foot ulcers. For instance, the global annual incidence of diabetic foot ulcers ranges from 9 to 25 million.

Global Negative-pressure Wound Therapy (NPWT) Devices Market Regional Synopsis

Regionally, the global negative-pressure wound therapy (NPWT) devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031 backed by rise in occurrence of diabetic foot ulcers, venous leg ulcers, and pressure ulcers with the increase in geriatric population, increasing healthcare expenditure, and expanding research and development (R&D) activities in the region. According to the Centers for Medicare & Medicaid Services, national health expenditure is expected to rise by 5.1% per year from 2021 to 2030, reaching nearly USD 6.8 trillion.

Negative-pressure Wound Therapy Devices Market Regional Synopsis

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The global negative-pressure wound therapy (NPWT) devices market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global negative-pressure wound therapy (NPWT) devices market includes the following segments:

By Devices Type	Conventional NPWT Devices Single Use NPWT Devices Portable Devices Accessories
By Wound Type	Chronic Acute
By Application	Burn Wounds Surgical Wounds Diabetic Foot Ulcers Pressure Ulcers Venous Leg Ulcers Others
By End-User	Hospitals & Clinics Ambulatory Surgery Centers Home Care Settings

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Top Featured Companies Dominating the Global Negative-pressure Wound Therapy (NPWT) Devices Market

Smith & Nephew, PLC.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Acelity L.P., Inc.
Cardinal Health
DeRoyal Industries, Inc.
Genadyne Biotechnologies, Inc.
Medela, LLC.
ConvaTec, Inc.
ATMOS MedizinTechnik, GmbH & Co. KG
Talley Group Ltd
PAUL HARTMANN

In The News

2^nd November, 2021: Medela LLC, patented Intelligent Pressure Control and Dynamic Exudate Removal Technology has proved its clinical effectiveness. Medela Invia LibertyTM Negative Pressure Wound Therapy (NPWT) System outperforms other multi-lumen NPWT systems available in the market.
3^rd March, 2020: Smith & Nephew PLC, launched the new PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT) which has a pump duration of up to 14 days.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the negative pressure wound therapy (NPWT) devices market?

Ans: Increasing cases of burns, rise in diabetes cases, expansion of geriatric population, and growing prevalence of post-surgical wounds are some major factors driving the growth of the market.

2) What would be the CAGR of negative pressure wound therapy (NPWT) devices market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the negative pressure wound therapy (NPWT) devices market growth?

Ans: High prices of the NPWT devices, partial awareness about the NPWT devices, and high cost of treatment are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of negative pressure wound therapy (NPWT) devices market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

5) Who are the major players dominating the negative pressure wound therapy (NPWT) devices market?

Ans: The major players in the market are Smith & Nephew, PLC, Acelity L.P., Inc., Cardinal Health, DeRoyal Industries Inc., Genadyne Biotechnologies, Inc., Medela, LLC., ConvaTec, Inc., ATMOS MedizinTechnik, GmbH & Co. KG, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the negative pressure wound therapy (NPWT) market?

Ans: The market is segmented by device type, wound type, end-user, and by region.

8) Which segment captures the largest market size in application segment in the negative-pressure wound therapy (NPWT) devices market?

Ans: The diabetic foot ulcers segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.

Negative Pressure Wound Therapy (NPWT) Market