Negative pressure wound therapy (NPWT) devices play a vital role in accelerating the healing of acute and chronic wounds. NPWT devices help in removing excess exudate and infectious materials from the wound bed surface by applying sub-atmospheric pressure through a sealed wound dressing. This promotes blood flow and granulation of tissues and ingrowth of new blood vessels, thereby enhancing the rate of wound healing. NPWT devices find application in treating chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers. The global NPWT devices market is estimated to be valued at US$ 16537.84 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing prevalence of chronic wounds such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers is expected to boost the growth of the negative pressure wound therapy devices market over the forecast period. For instance, according to the National Pressure Ulcer Advisory Panel, about 2.5 million people in the U.S. suffer from pressure ulcers annually. Also, venous ulcers affect approximately 2% of the adult population worldwide. Negative pressure wound therapy plays a vital role in managing such chronic wounds which is expected to propel market growth going ahead.
SWOT Analysis
Strength: Negative pressure wound therapy (NPWT) devices offer various advantages over traditional wound care such as enhanced wound healing, reduced risk of infection, and flexibility in use. NPWT devices help remove excess fluid, reduce edema, and promote the formation of granulation tissue. They are also easy to use and can be used at home with proper training.
Weakness: NPWT devices may be complicated to use for some patients and caregivers which can lead to improper use. Additionally, the loud noise produced by some NPWT devices can cause discomfort. High costs associated with NPWT devices and their single use nature also make them less affordable for some patients.
Opportunity: With rising rates of diabetes and associated chronic wounds, there is large opportunity for growth in emerging markets. Growing geriatric population also increases the need for advanced wound care devices. Technological advancements are further enhancing features of NPWT devices to improve patient compliance.
Threats: Reimbursement issues and budget impact on healthcare systems pose significant threats. Alternative advanced wound care products can potentially capture market share. Stringent regulations also increase compliance costs for manufacturers.
Key Takeaways
The Global Negative Pressure Wound Therapy (NPWT) Devices Market is expected to witness high growth over the forecast period of 2023 to 2030 owing to increasing incidence of chronic wounds worldwide.
The regional analysis shows that North America currently dominates the market due to high awareness and healthcare spending. However, Asia Pacific is expected to grow at the fastest pace due to rising medical tourism, healthcare infrastructure development and large patient pool.
Key players operating in the negative pressure wound therapy (NPWT) devices market are Abbott, Morinaga Milk Industry CO., LTD., RELAX EXCELLENCE IN LACTULOSE, FRESENIUS KABI, BIOFAC A/S and Lactose India Limited. These players are focusing on new product launches, partnerships and acquisitions for geographical expansion in high growth regions. For instance, Morinaga Milk Industry launched an advanced NPWT dressing with antimicrobial properties in 2022 to offer enhanced wound infection protection.
Get More Insights Here
Transparency Market Research (TMR) has published a new report titled, “Global Negative-pressure wound therapy devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”.
Moreover, the high cost of negative-pressure technique is a major factor restraining the market.
Emerging technologies in portable negative-pressure wound therapy devices to propel marketEmerging technologies in negative-pressure wound therapy devices are projected to boost the global negative-pressure wound therapy devices market during the forecast period.
NPWT may decrease tissue oxygenation in the wound bed because the foam sponge of NPWT compresses the wound bed under the influence of the applied negative-pressure.
In the U.S., significant increase in prevalence of acute and chronic injuries is likely to propel the share held by the region in the global market during the forecast period.
These include SMITH AND NEPHEW, KCI (ACELITY), Cardinal Health, PAUL HARTMANN, ConvaTec Inc., DeRoyal, Genadyne Biotechnologies, Inc., Medela, Inc. ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Ltd, and Lohmann & Rauscher.
San Francisco, 23 June 2020 — “Negative Pressure Wound Therapy (NPWT) Market Analysis By Regions (North America, Europe, Asia-Pacific, Latin America and Africa), Product, By Application And Segment Forecasts To 2027” Global Negative Pressure Wound Therapy (NPWT) Market is anticipated to grow considerably in the forecast period owing to the increasing prevalence of chronic and acute wounds worldwide.
Negative pressure wound therapy uses the three types of filter materials for wound; open-cell foam, transparent and gauze film or honeycomb textile.
Get a Free Sample Copy of Report @ https://www.millioninsights.com/industry-reports/negative-pressure-wound-therapy-market/request-sample Over the years, the requirement for negative pressure wound therapy has extensively grown due to its benefits like improved treatment of transplant skin, reduced odds of wound diseases for open fractures and traumas and low hospital mortality in patients with mediastinitis.
Nevertheless, unrecognized complications of negative pressure wound therapy like injuries and deaths due to infection and absence of proof of clinical sufficiency are expected to hinder the growth of negative pressure wound therapy (NPWT) market.
Negative pressure wound therapy industry is categorized on the basis of product, wound type, end user, and geography.
On the basis of product type, the industry is divided into standalone NPWT devices, single-use disposable NPWT devices, portable NPWT devices, and NPWT accessories (canisters).
