The global negative pressure wound therapy industry is poised for substantial growth, with an estimated worth of US$ 6.5 billion in 2023, and projections indicating a surge to US$ 10.8 billion by 2033. This remarkable expansion is attributed to a projected growth rate of 5.3% between 2023 and 2033.
One of the significant drivers of this surge is the escalating trend towards home-based care for chronic wound management. The availability of user-friendly devices has facilitated the extension of negative pressure wound therapy into home settings, thereby expanding the market reach.
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Healthcare professionals’ increased awareness of the manifold benefits of negative pressure wound therapy for efficient wound healing is another crucial factor driving adoption rates. Concurrently, ongoing education and awareness campaigns are contributing to a deeper understanding of the technology’s advantages in the medical community.
As the healthcare industry places a growing emphasis on cost-effective solutions, negative pressure wound therapy emerges as a viable option for wound management. Its potential to reduce hospital stays, complications, and overall treatment costs aligns with the industry’s evolving demands for more efficient and economical healthcare solutions.
This projected growth underscores the pivotal role negative pressure wound therapy plays in advancing wound care management. As the market expands, stakeholders across the healthcare spectrum will find new opportunities to enhance patient outcomes and streamline healthcare delivery.
Key Takeaways:
- From 2018 to 2022, the negative pressure wound therapy market demand expanded at a CAGR of 3.5%
- Based on product type, the standalone NPWT devices segment is expected to rise at a CAGR of 3.5%.
- Global negative pressure wound therapy demand in the United Kingdom is predicted to account for a CAGR of 5.1% from 2023 to 2033.
- In the United States, the market is expected to account for a CAGR of 5.2% between 2023 and 2033.
- China is projected to expand by a value CAGR of 4.9% between 2023 and 2033.
- By 2033, India’s negative pressure wound therapy market is anticipated to record a CAGR of 4.8% during the forecast period.
“The increasing demand for sustainable and environmentally friendly negative pressure wound therapy devices is anticipated to drive the market growth during the forecast period,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape:
Leading negative pressure wound therapy device manufacturers increasingly focus on expanding their product offerings to strengthen their customer base. They are adopting growth strategies such as new product launches, partnerships, acquisitions, mergers, collaborations, etc., to expand their global footprint and gain a competitive edge in the global negative pressure wound therapy market. For instance,
- Smith & Nephew is a well-established player in the wound care industry, offering NPWT systems like the PICO™ and Renasys™. The company has focused on developing compact, portable NPWT devices to improve patient mobility.
- Acelity, acquired by 3M Healthcare, is known for its V.A.C. Therapy systems, one of the pioneering brands in NPWT. They have a strong presence in the market and continue to innovate with their NPWT technologies.
Key Companies Profiled:
- Cardinal Health
- Mölnlycke Health Care
- Acelity L.P. Inc. (3M)
- Lohmann & Rauscher GmbH & Co. KG
- Smith & Nephew
- ConvaTec Inc.
- DeRoyal Industries, Inc.
- HARTMANN, Medela LLC
- Haromed Bvba (Belgium)
- Carilex Medical GmbH.
- Genadyne Biotechnologies, Inc.
- Cork Medical, LLC
- Alleva Medical Ltd. (Devon Medical Products
- Argentum Medical, LLC
Negative Pressure Wound Therapy Market by Category:
By Product Type:
- Standalone NPWT Devices
- Direct Sales
- Rental Sales
- Product
- Services
- Portable NPWT Devices
- Direct Sales
- Rental Sales
- Product
- Services
- Single-Use NPWT Devices
- Direct Sales
- Rental Sales
- Product
- Services
- NPWT Dressings
- Foam Dressings
- Hydrocolloid Dressings
- Standard Gauze Dressings
- NPWT Accessories
By Indication:
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Post-Surgical Ulcers & Open Wound
- Burn Wounds
- Other Wounds
By End-User:
- Hospitals
- Acute Care Centers
- Community Hospitals
- Ambulatory Surgical Centers
- Trauma Care Centers
- Specialty Clinics
- Home Care Settings
- Long-Term Care Centers
- Skilled Nursing Facilities
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
- Middle East and Africa
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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