NPWT Market 2024: Predicted to Grow at CAGR of 5.7% by 2027, AMR

NPWT, also known as vacuum-assisted wound closure therapy, involves the application of sub atmospheric pressure to heal acute and chronic wounds. NPWT devices are available in a variety of shapes and sizes to match the body contour of a patient and the size of the wound to be treated. These devices consist of a vacuum pump, drainage tubing, and a dressing set, which promote wound healing, reduce recurrent use of dressings, provide efficient option for management of closed surgical incision lines, and improves patient well-being.

The global negative pressure wound therapy market size accounted for $2,144 Million in 2020, and is expected to reach $3,347 Million by 2027, registering a CAGR of 5.7% from 2020 to 2027.

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Key Takeaways:

Market Growth and Size: The NPWT Devices market had been experiencing steady growth due to factors such as an aging population, an increase in chronic wounds (like diabetic ulcers and pressure ulcers), and a rising number of surgeries.

The market was segmented into different product types such as conventional NPWT devices and disposable NPWT devices.
Advanced Technologies: The NPWT market had seen advancements in technology, leading to the development of portable and wearable NPWT devices. These innovations aimed to improve patient mobility and overall comfort during the wound healing process.

Widespread Adoption: NPWT had gained widespread adoption in both hospital settings and home care environments. This was because of its effectiveness in promoting wound healing, reducing infection risks, and minimizing hospital stays for patients with complex wounds.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐬𝐜𝐞𝐧𝐚𝐫𝐢𝐨:

The outbreak of the pandemic has made people more cautious about several health measures. And, growing prevalence of chronic diseases such as diabetes & obesity and mounting use of single use devices have boosted the negative pressure wound therapy devices market.

Still, disruptions in the supply chain are likely to hamper the market to certain extent.

However, the industry is quite likely to benefit from the growing awareness about healthcare.

Market Segmentation:

By Product:

Conventional NPWT Devices
Single Use NPWT Devices
By Wound Type
By Wound Type
Chronic Wounds
Acute Wounds

By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Rest of Europe)
Asia-Pacific (Japan, China, India, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

By Key Market Players:

ATMOS MedizinTechnik GmbH & Co. KG
Cardinal Health.
ConvaTec Group Plc.
DeRoyal Industries, Inc.
Devon International Group
Investor AB (Mölnlycke Health Care AB)
Olle Larsson Holding AG (Medela AG)
Smith & Nephew Plc.
Talley group Ltd.

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Regional Growth Dynamics:

North America is another major factor that drives the growth of the market. In addition, Asia- Pacific is expected to register fastest growth rate during the forecast period, owing to surge in healthcare expenditure and rise in prevalence of diabetes in the region. Other factors such as huge patient base of other chronic diseases that lead to chronic or acute wound also contribute to the growth of the negative pressure wound therapy devices market in Asia-Pacific.

Key Findings of the Study

By wound type, the chronic wound segment occupied more two-thirds share of global negative pressure wound therapy devices market in 2019.

By product, the single use NPWT segment is anticipated to grow with the highest CAGR throughout the forecast period.

By end user, the ambulatory surgical centers segment occupied more than one-fourths share of NPWT devices market in 2019.

By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.

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In accordance to several interviews conducted with the CXOs, utilization of NPWT devices is expected to witness a significant rise, owing to increase in incidences of chronic diseases, such as diabetes and rise in awareness regarding the development of single-use NPWT devices, such as PICO single-use NPWT. The negative pressure wound therapy devices market has piqued the interest of the healthcare industry, owing to increase in use of these devices for treatment of chronic and acute wounds by physicians in developed regions.

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