Negative Pressure Wound Therapy Systems Market

Negative Pressure Wound Therapy Systems Market By Product Type (Conventional NPWT Devices, Single-Use NPWT Devices), By Wound Type (Pressure Ulcers, Diabetic Ulcers, Venous Ulcers, Others), By End-User (Hospitals, Specialty Clinics, And Others), by geography is expected to grow at a steady CAGR forecast till 2028 owing to the rising incidence of chronic wounds and increase in the aging population.

Global Negative Pressure Wound Therapy Systems (NPWT) Market was valued at USD 3.35 billion in 2022, growing at a CAGR of 5.09% during the forecast period from 2023 to 2028, in order to reach USD 4.50 billion by 2028. Factors such as the rising incidence of chronic wounds associated with various chronic disorders such as diabetes, ulcers, and obesity, and also with the rising incidence of active wounds comprising burns, and surgical wounds, among others are driving the overall market growth. Further, an increase in the aging population, increasing awareness of proper wound care management, rising funding for wound care research, and technological advancements in wound care product offerings are also driving the market.

Negative Pressure Wound Therapy Systems Market Dynamics

Negative Pressure Wound Therapy Systems (NPWT) is increasing gradually, one of the main reasons driving the Negative Pressure Wound Therapy Systems (NPWT) market growth is the rising incidence of chronic and acute wounds associated with various disorders. According to the Wound Healing Society, chronic wounds are classified into four categories: pressure ulcers, diabetic ulcers, venous ulcers, and arterial insufficiency ulcers. Chronic wounds have a significant impact on the health and quality of life of patients and their families. They can cause pain, loss of function and mobility, depression, pain and anxiety, shame and social isolation, financial burden, long-term hospitalization and chronic diseases, and even death. Therefore, to properly treat chronic wounds, Negative Pressure Wound Therapy Systems products are required, which in turn is expected to drive the Global Negative Pressure Wound Therapy Systems market.

Another factor driving the demand in the growth of the Negative Pressure Wound Therapy Systems market is the rising geriatric population. According to the United Nations World Population Ageing 2020 Highlights, there were about 727 million people over the age of 65 worldwide in 2020. The aforementioned source further mentioned that the elderly population is expected to double to more than 1.5 billion in the next three decades. The elderly population is more prone to the development of various chronic disorders. Thus, the increasing prevalence of chronic wounds among the aging population is also expected to increase the demand for the Global Negative Pressure Wound Therapy Systems Market.

However, factors such as the cost of these devices are very high and there is a constant risk of infections associated with reusable Negative Pressure Wound Therapy Systems that may inhibit the growth of Negative Pressure Wound Therapy Systems in the market.

Along with the above-mentioned factors, the Negative Pressure Wound Therapy Systems market witnessed a period of temporary setbacks owing to the imposing of the lockdown restrictions as necessary measures to contain the COVID-19 spread. One of the major steps during this was the suspension of numerous elective procedures and outpatient visits which reduced the demand for Negative Pressure Wound Therapy Systems in the market as a large number of surgeries across different medical specialties were suspended during the initial lockdown period, thereby limiting the market growth for a short time. Nevertheless, the market for Negative Pressure Wound Therapy Systems is in the period of recovery with the resumption of activities across various domains including healthcare services owing to the approval and administration of numerous COVID-19 vaccines across the globe, thereby presenting a positive future outlook for the Negative Pressure Wound Therapy Systems market during the forecast period.

Negative Pressure Wound Therapy Systems Market Segment Analysis

Negative Pressure Wound Therapy Systems Market by Product Type (Conventional NPWT Devices, Single-Use NPWT Devices), By Wound Type (Pressure Ulcers, Diabetic Ulcers, Venous Ulcers, Others), By End-User (Hospitals, Specialty Clinics, And Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on Product Type, in the Negative Pressure Wound Therapy Systems market, the Single-Use Negative Pressure Wound Therapy Systems are predicted to witness the fastest growth during the forecast period from 2021-2028. The adoption of Single-Use Negative Pressure Wound Therapy Systems is increasing as these devices are convenient to use and lightweight. These devices have reduced the risk of contamination that prevents the patient from costly readmissions. These devices have advanced features like simultaneous irrigation that helps in faster wound healing.

Moreover, a new development in the product lines and new product launches are bolstering the segment growth of the Negative Pressure Wound Therapy Systems market during the forecasted period. For instance, in March 2020 Smith+Nephew announced the US launch of the new PICO 14 Single Use Negative Pressure Wound Therapy System (sNPWT) which has a pump duration of up to 14 days and requires less user intervention. Therefore, their increased demand is expected to contribute to the overall growth of the Negative Pressure Wound Therapy Systems market growth in the coming years.

North America is expected to dominate the Overall Negative Pressure Wound Therapy Systems Market:

Among all the regions, North America is expected to account for the largest share of the Global Negative Pressure Wound Therapy Systems market. This domination can be primarily attributed to the rising prevalence of chronic conditions that ultimately result in chronic, surgical, and traumatic wounds, rising incidence of burn injuries, increase in expenditure on surgical and chronic wounds, and technological advancements in this region.

According to the American Burn Association (ABA) National Burn Repository 2019, flame burns are still the majority of injuries in the US (43%), with scalds second at 34% followed by contact at 9%, electrical burn injuries (4%), chemical (3%) and other (7%). Moreover, diabetic foot ulcers, a type of chronic wound in diabetic patients may also contribute to the market growth in the region due to rising cases of diabetes. For instance, as per the National Diabetes Statistics Report 2021, approximately 34.2 million people have diabetes which comprises 10.5% of the US population. Thus these critical condition is likely to increase the risk of developing chronic wounds thereby augmenting the market for Negative Pressure Wound Therapy Systems market. In addition, rising surgical procedures is also one of the major factors driving the Negative Pressure Wound Therapy Systems market growth.

Furthermore, high disposable income, sophisticated healthcare infrastructure, new product approvals as well as better healthcare facilities and reimbursement programs coupled with the presence of major market players as well as higher investment in the research and development activities in the region are predicted to be the major influencing factors in driving the overall growth of the Negative Pressure Wound Therapy Systems over the forecast period.

In North America, the US is expected to account for the largest share of the Negative Pressure Wound Therapy Systems market. This can be attributed to the increasing cases of wound disorders in the country and the rising geriatric population. As per the United States Census Bureau 2019, in the United States, 3% of the population older than 65 years have open wounds. By the year 2060, the US government estimates that the elderly population will be over 77 million, suggesting that chronic wounds will continue to be an increasingly persistent problem in this population. This increase in the wounds affected population would lead to the increased use of Negative Pressure Wound Therapy Systems in the country which in turn will contribute to the increasing demand for Negative Pressure Wound Therapy Systems thereby aiding in the growth of the Negative Pressure Wound Therapy Systems market in the country and as well as the region.

Therefore, the interplay of various factors such as the presence of a large patient population, encouraging reimbursement policies as well as new product launches in the region are going to boost the North America Negative Pressure Wound Therapy Systems market during the forecast period.

Key Negative Pressure Wound Therapy Systems Companies In The Market

Some of the major Negative Pressure Wound Therapy Systems companies operating in the market include Medtronic, Nihon Kohden Corporation, NuVasive, Inc., Natus Medical Incorporated, Inomed Medizintechnik GmbH, NerveVision, Axon Systems, Sentio LLC, Nervomatrix, Nerve Stim SPA, Bovie Medical Corporation, Neurovision Medical Products, Magstim Company Limited, Neurosign Surgical, Checkpoint Surgical, Inc., EMS Handels Gesellschaft mbH, ORIMtec GmbH, Xavant Technology (Pty) Ltd., NeuroWave Systems Inc., Scopis GmbH, among others.

Recent Developmental Activities in the Negative Pressure Wound Therapy Systems Market:

• In August 2021, Aatru Medical, LLC announced the US Food and Drug Administration (FDA) 510(k) Class II clearance of the NPSIMS™ Negative Pressure Surgical Incision Management System. The FDA-cleared miniaturized device is designed to help heal open wounds after surgery by sealing and holding them shut using gentle suction.
• In April 2021, Joerns Healthcare and Medela announced a nationwide partnership to develop access to innovative negative pressure wound therapy systems. Through this agreement, Joerns will expand its wound care portfolio to include the full Medela line of negative pressure wound therapy products, including the Invia Liberty and Invia Motion 60 NPWT Systems.
• In June 2019, 3M acquired Acelity L.P. Inc. for $6.7 billion to enhance its strategy for advanced wound care solutions and accelerate the penetration of NPWT products internationally.

Key Takeaways from the Negative Pressure Wound Therapy Systems Market Report Study

• Market size analysis for Negative Pressure Wound Therapy Systems market size (2022), and market forecast for 5 years (2023-2028)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Negative Pressure Wound Therapy Systems market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Negative Pressure Wound Therapy Systems market.
• Various opportunities are available for the other competitor in the Negative Pressure Wound Therapy Systems market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current Negative Pressure Wound Therapy Systems market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Negative Pressure Wound Therapy Systems market growth in the coming future?

Target Audience who can be benefited from Negative Pressure Wound Therapy Systems Market Report Study

• Negative Pressure Wound Therapy Systems products providers
• Research organizations and consulting companies
• Negative Pressure Wound Therapy Systems -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Negative Pressure Wound Therapy Systems
• Various End-users who want to know more about the Negative Pressure Wound Therapy Systems market and the latest technological developments in the Negative Pressure Wound Therapy Systems market.