Negative Pressure Wound Therapy Market Status and Prospects 2022 to 2032 | By Cardinal Health, Acelity L.P., DeRoyal, ConvaTec
The global Negative Pressure Wound Therapy Market Revenue was held at around US$ 6.2 billion in 2022. Furthermore, with the rising prevalence of chronic wounds such as diabetic foot ulcers, post-surgical ulcers, and pressure ulcers, as well as rising wound care spending, the overall demand for Negative Pressure Wound Therapy is expected to grow at a steady CAGR of 5.2% between 2022 and 2032, totalling more than US$ 9.9 billion by 2032.
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Rising prevalence of chronic diseases is directly related to the onset of chronic wounds such as diabetes mellitus and cardiovascular diseases. This is expected to increase sales of NPWT devices over the forecast period.
The increased prevalence of diabetes and chronic diseases around the world is a major reason driving the Negative Pressure Wound Therapy market’s rise. Diabetes cases have increased significantly throughout the years, and this trend is projected to continue in the coming years. According to the International Diabetes Federation (IDF), the global diabetes population is expected to reach 783 million by 2045.
Negative Pressure Wound Therapy with a silver dressing reduces hospital stay and enables early reconstruction in patients suffering from infections. This also reduces hospital expenses for patients.
The development of the Negative Pressure Wound Therapy market will accelerate amid growing awareness among practitioners and patients, rising initiatives to promote the utility of Negative Pressure Wound Therapy devices, and the expansion of major players across the globe.
“Increasing demand for portable NPWT devices, coupled with increasing investments in the healthcare sector to introduce patient healthcare reimbursement plans in developing countries will augment the growth in the market over the forecast period,” says an FMI analyst.
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Key Takeaways from Market Study
- Based on product, sales in the standalone NPWT devices segment are expected to hold over 34% of the total market share by 2032, and are expected to grow at a 5.1% CAGR.
- In terms of indication, post-surgical ulcers & open wounds segment accounted for 29.7% of the total market share in 2021, and the trend is projected to continue over the forecast period.
- By end use, the hospitals segment will expand at a 5.1% CAGR over the assessment period.
- North America is slated to be the leading region, with sales growing at a 3.8% CAGR through 2032.
- Europe will emerge as a lucrative market over the assessment period, spearheaded by Germany.
- China will account for a dominant share in the East Asia Negative Pressure Wound Therapy market.
Cardinal Health, Mölnlycke Health Care, Smith & Nephew, Acelity L.P. Inc. (3M), Lohmann & Rauscher GmbH & Co. KG, ConvaTec Inc., DeRoyal Industries, Inc., Medela LLC, HARTMANN, Haromed Bvba (Belgium)., Genadyne Biotechnologies, Inc., Cork Medical, LLC, Carilex Medical GmbH, Alleva Medical Ltd. (Devon Medical Products) and Argentum Medical, LLC are some of the leading players operating in the Negative Pressure Wound Therapy market.
Key players are focusing on acquisitions and are launching innovative products to expand their product portfolios. For instance:
- In January 2022, Smith and Nephew launched new indications for use of its PICO 7 and PICO 14 single-use Negative Pressure Wound Therapy (sNPWT) systems. The U.S. Food and Drug Administration (FDA) cleared the systems for use on closed surgical incisions.
- In April 2021, Lohmann & Rauscher (L&R) expanded its product range with the asset acquisition of the French hosiery company MTA’s medical stockings division.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global Negative Pressure Wound Therapy market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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Negative Pressure Wound Therapy Market by Category
By Product Type:
- Standalone NPWT Devices
- Direct Sales
- Rental Sales
- Portable NPWT Devices
- Direct Sales
- Rental Sales
- Single-Use NPWT Devices
- Direct Sales
- Rental Sales
- NPWT Dressings
- Foam Dressings
- Hydrocolloid Dressings
- Standard Gauze Dressings
- NPWT Accessories
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Post-Surgical Ulcers & Open Wound
- Burn Wounds
- Other Wounds
- Acute Care Centers
- Community Hospitals
- Ambulatory Surgical Centers
- Trauma Care Centers
- Specialty Clinics
- Home Care Settings
- Long-Term Care Centers
- Skilled Nursing Facilities
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