New York, United States, April 18, 2023 (GLOBE NEWSWIRE) -- The Global Negative Pressure Wound Therapy Market Size is to grow from USD 2.79 billion in 2022 to USD 5.24 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period, due to the rising prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, due to factors such as an aging population and increasing incidence of chronic diseases like diabetes and obesity, is driving the demand for advanced wound care solutions like NPWT.
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Negative Pressure Wound Therapy (NPWT) is a therapeutic technique used to treat various types of wounds, including burns, surgical wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers, and traumatic wounds. It involves the application of controlled negative pressure to the wound site, which helps in promoting wound healing, reducing wound exudates, and preventing infection. NPWT can be delivered through conventional or disposable devices, and it is widely used in hospitals, home care settings, and other healthcare settings. The global NPWT market is driven by factors such as increasing prevalence of chronic wounds, advancements in NPWT technology, and growing healthcare expenditures.
Browse key industry insights spread across 200 pages with 123 market data tables and figures & charts from the report on "Global Negative Pressure Wound Therapy Market Size, Share, and COVID-19 Impact Analysis, By Product (Conventional NPWT Devices, Disposable NPWT Devices, and NPWT Accessories), By Wound (Burns and Surgical & Open Wounds, Pressure Ulcers, Diabetic Foot Ulcers, Venous Leg Ulcers, and Traumatic Wounds), By End-User (Hospitals, Home Care Settings, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032”. Get Detailed Report Description Here:
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The disposable NPWT devices is expected to grow at a higher CAGR of 7.4% over the forecast period
The global negative pressure wound therapy (NPWT) market is divided by product type into conventional NPWT devices, disposable NPWT devices, and NPWT accessories. The disposable NPWT devices segment is anticipated to exhibit growth during the forecast period, due to increased demand for single-use and disposable medical devices, convenience in handling and disposal, reduced risk of cross-contamination, and potential cost savings associated with avoiding the need for device cleaning, maintenance, and reprocessing.
The pressure ulcer segment dominated the market with around 32.4% revenue share in 2022.
The global negative pressure wound therapy (NPWT) market is segmented based on wound type, including burns and surgical & open wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers, and traumatic wounds. Among these, the pressure ulcer segment dominates the market with the largest market share in 2022. Prolonged hospital stays of patients with pressure ulcers, increased hospital costs, and growing utilization of NPWT for pressure wound treatment are driving factors behind the growth of NPWT in the market.
The home care settings segment dominated the market with around 27.3% revenue share in 2022.
The global negative pressure wound therapy (NPWT) market is categorized by wound type, including burns and surgical & open wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers, and traumatic wounds. Among these, the pressure ulcer segment holds the largest market share in 2022. Prolonged hospital stays of patients with pressure ulcers leading to increased hospital costs, along with the growing utilization of NPWT for the treatment of pressure wounds like bedsores, are key driving factors for the growth of NPWT in the market.
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North America held the largest market with around 38.7% revenue share in 2022.
North America is a leading market for negative pressure wound therapy (NPWT), with a significant market share. This dominance can be attributed to factors such as a well-established healthcare infrastructure, a rising prevalence of chronic wounds, favorable reimbursement policies, and widespread adoption of advanced healthcare technologies. The region's strong market position is further bolstered by the presence of key market players, innovative product offerings, and high healthcare expenditures, which collectively contribute to the region's leadership in the NPWT market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. The key players in the global Negative Pressure Wound Therapy Market include Acelity L.P. Inc., Smith & Nephew, ConvaTec Group PLC, Cardinal Health, Paul Hartmann AG, Medela LLC, Genadyne Biotechnologies, Inc., Triage Meditech Pvt. Ltd., Talley Group, Alleva Medical Ltd., Lohmann & Rauscher GmbH & Co. KG, Devon Medical Products, and Mölnlycke Health Care AB.
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