Burlingame, Feb. 20, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global negative pressure wound therapy (NPWT) devices market is estimated to be valued at US$ 2,288.1 million in 2022 and is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Negative Pressure Wound Therapy (NPWT) Devices Market:
The increasing prevalence of burn wounds and higher adoption of NPWT in treating medium to severe burn wound injuries is expected to drive the market growth over the forecast period
According to the publication by Elsevier B.V., in July 2022, on a global scale, the number of burn patients per year was indicated at 101–205 by most participants (19.62 %). 64.81 % of admitted patients were over the age of 18, with 56.38 % being male patients, while 35.19 % were children.
Rapid technology advancement in negative pressure wound therapy (NPWT) devices is expected to drive the global negative pressure wound therapy (NPWT) devices market growth over the forecast period.
For instance, on August 4, 2022, 3M Health Care Medical Solutions, a division of 3M, announced that it had made advancement in 3M Veraflo Therapy with no increase cost to the customer. These new offerings help simplify the care delivery processes for clinicians using Veraflo Therapy and help make dressing changes easier, faster, and less painful for their patients as compared to previous Veraflo Therapy dressings.
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Key Market Takeaways:
The global negative pressure wound therapy (NPWT) devices market is expected to exhibit a CAGR of 6.5 % during the forecast period, as key market players are focused on organic growth strategy such as product launch so as to expand their product portfolio. For instance, on October 13, 2020, Cork Medical LLC, a medical device and support surface manufacturer, announced the launch of two new negative pressure wound therapy (NPWT) devices: Nisus touch and Nisus One.
Among product type, single-use NPWT devices segment is expected to show significant growth over the forecast period, owing to increased efficacy of single-use negative pressure therapy devices over other types of NPWT system and increasing product launches by key players operating in the market. For instance, in March 2020, Smith+Nephew, the global medical technology business, announced the U.S. launch of the new PICO 14 Single Use negative pressure wound therapy system (sNPWT) which has a pump duration of up to 14 days.
Among regions, North America is estimated to account for the largest market share in the global negative pressure wound therapy (NPWT) devices market over the forecast period, as key players operating in the market are focused on expanding their product portfolio by launching new products in the market. For instance, in October 2020, a new medical device company, ExtriCARE USA, that distributes negative pressure wound therapy (NPWT), was established in the U.S. Moreover, the new company also announced the launch of a new website that is user-focused and provides information on ExtriCARE’s product line.
Competitive Landscape:
Key players operating in the global negative pressure wound therapy (NPWT) devices market include 3M, Cardinal Health, Smith+Nephew, Genadyne, DeRoyal Industries, Inc., Medela AG, Convatec Inc., Mölnlycke Health Care AB, PAUL HARTMANN AG, ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Ltd, Cork Medical, LLC, and Devon Medical Products
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Market Segmentation:
- Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Product Type:
- Single-use NPWT Devices
- Conventional NPWT Devices
- Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Application:
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Burn Wounds
- Others (Surgical Wounds, Traumatic Wounds, etc.)
- Global Negative Pressure Wound Therapy (NPWT) Devices Market, By End User:
- Hospitals
- Home Care Settings
- Others (Ambulatory Surgery Centers (ASCs), Specialty Clinics, etc.)
- Global Negative Pressure Wound Therapy (NPWT) Devices Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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