Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Negative Pressure Wound Therapy (NPWT) Market - A Global and Regional Analysis: Focus on Region, Country-Level Analysis, and Competitive Landscape - Analysis and Forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global negative pressure wound therapy (NPWT) market, valued at $2.04 billion in 2022, is on a trajectory of robust growth and is anticipated to reach $2.84 billion by 2030. This market is expected to expand at a compound annual growth rate (CAGR) of 4.31% between 2023 and 2030. Such growth is fueled by an increasing demand for advanced wound care solutions that offer effective protection, promote healing, and enhance patient comfort.
The NPWT market has been growing steadily over the past decade, driven by factors such as the increasing prevalence of chronic wounds, the rising number of hospital-acquired pressure wounds in geriatric patients, and the growing demand for advanced wound care solutions. Additionally, increasing spending on chronic and surgical wounds, coupled with the growing usage of simplified single-use NPWT devices and the development of portable, home care-based NPWT systems, is further propelling the growth of the NPWT market.
Regional Segmentation:
- North America: U.S., and Canada
- Europe: U.K., Germany, France, Italy, Spain, Netherlands, Switzerland, Russian Federation, Turkey, Poland, Belgium, Sweden, Ireland, Norway, Austria, Denmark, Finland, Portugal, Czech Republic, Romania, Greece, Slovakia, and Ukraine
- Asia-Pacific - China, Japan, India, South Korea, Australia, Malaysia, and Thailand
- Latin America: Brazil, Mexico, Colombia, Argentina, and Chile
- Rest-of-the-World
North America leads in terms of market size, growing from $1.41 billion in 2022 to a projected $1.81 billion by 2030 at a CAGR of 3.26%, reflecting the region's advanced healthcare infrastructure and high adoption rates of innovative wound care solutions. Rest-of-the-World, however, showcases the highest growth rate at an 8.32% CAGR, attributed to rapid healthcare advancements and increasing awareness of advanced wound management.
Europe presents a steady growth at a 4.91% CAGR, underpinned by its well-established healthcare systems and focus on quality wound care. Latin America and the Asia-Pacific regions are not far behind, with CAGRs of 7.67% and 7.91%, respectively, driven by improvements in healthcare infrastructure and expanding access to modern medical technologies. This regional analysis underscores the global demand for negative pressure wound therapy (NPWT), fueled by a growing need for effective wound care across diverse healthcare landscapes.
Recent Developments in the Negative Pressure Wound Therapy (NPWT) Market
- In May 2023, Smith & Nephew announced its Pico sNPWT systems received an innovative technology contract from Vizient, Inc.
- In November 2022, Sanara MedTech Inc. and InfuSystem Holdings, Inc. joined forces to establish a new partnership named SI Wound Care, LLC. Through this partnership, InfuSystem would be able to introduce cutting-edge products, including NPWT devices and supplies from Cork Medical, LLC, as well as Sanara's advanced wound care product line and related services, to a wider audience of potential customers.
- In January 2021, Smith & Nephew released a new study that demonstrated the effectiveness of its Pico sNPWT. The study showed that sNPWT significantly decreased the chances of surgical site infections by 63%, seroma by 77%, and dehiscence by 30%.
- In March 2021, Talley Group Ltd. was acquired by Direct Healthcare Group. This acquisition strengthened DHG's current pressure ulcer prevention portfolio and would facilitate its entry into the NPWT Market.
Key Market Players and Competition Synopsis
The competitive landscape of the global negative pressure wound therapy (NPWT) market is shaped by several key players, each bringing a rich history of innovation and a broad portfolio of products tailored to meet the diverse needs of wound care. Among these, Smith & Nephew, 3M, Convatec Inc., and Talley Group stand out due to their significant contributions, extensive product offerings, and global reach. The competitive dynamics among these companies are characterized by a continuous drive for product innovation, strategic global expansion, and the development of products that address the evolving challenges of wound care.
Each company brings its unique strengths to the market, from Smith & Nephew's long-standing history and innovation, 3M's broad product range and technological leadership, to Talley Group's rapid growth and focus on healthcare solutions. Together, they contribute to a highly competitive and dynamic global negative pressure wound therapy (NPWT) market aimed at improving patient outcomes and advancing the field of wound care.
Some of the prominent established names in this market are:
- 3M
- Medela AG
- Smith & Nephew
- Convatec Inc.
- Talley Group Ltd.
- Molnlycke Health Care AB
- DeRoyal Industries, Inc.
- TRIAGE MEDITECH Pvt. Ltd.
- Weigao Group
- L&R Group
Key Attributes
| Report Attribute | Details |
| No. of Pages | 44 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $2.12 Billion |
| Forecasted Market Value (USD) by 2030 | $2.85 Billion |
| Compound Annual Growth Rate | 4.3% |
For more information about this report visit https://www.researchandmarkets.com/r/m9ilmr
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