The global negative pressure wound therapy market is projected to experience substantial growth, with estimates indicating a market value of USD 6.5 billion in 2023. According to a new report by Future Market Insights, the market is anticipated to expand to USD 10.8 billion by 2033, reflecting a compound annual growth rate (CAGR) of 5.3%.
The rise in chronic wounds such as diabetic foot ulcers, post-surgical ulcers, and pressure ulcers has been identified as a key driver behind the increasing adoption of NPWT devices. Coupled with the growing expenditure on wound care, this trend is expected to sustain the market’s upward trajectory over the next decade.
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Furthermore, the shift towards utilizing NPWT devices in homecare settings is poised to accelerate market growth. These devices not only help mitigate the risk of infections but also contribute to reducing overall healthcare costs, making them increasingly attractive for patients and healthcare providers alike.
“The demand for negative pressure wound therapy solutions is robust and set to expand significantly in the coming years,” stated FMI. “This growth is driven by the urgent need to effectively manage chronic wounds and enhance patient outcomes, especially in the context of rising healthcare costs globally.”
With advancements in technology and increasing awareness among healthcare professionals and patients, the NPWT market is witnessing innovations that promise to further improve therapeutic outcomes and patient comfort.
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
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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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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