NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The negative pressure wound therapy market is estimated to be worth US$ 6.5 Billion in 2023 and is projected to be valued at US$ 10.8 Billion by 2033. Between 2023 and 2033, the market is expected to register a growth rate of 5.3%. The growing trend towards home-based care for chronic wound management owing to the availability of user-friendly devices become home use expands the negative pressure wound therapy market.
Increased awareness among healthcare professionals of the benefits of negative pressure wound therapy for wound healing and increased education and awareness campaigns are likely to drive adoption rates. With the increasing demand for cost-effective solutions in the healthcare industry, negative pressure wound therapy is increasingly seen as a viable option for wound management due to its potential to reduce hospital stays, complications, and overall treatment costs.
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With the global rise in obesity rates and the risk of chronic wounds and complications, there is an increased need for advanced wound care solutions like negative pressure wound therapy. Innovations in wound dressings and materials used in NPWT systems, including antimicrobial dressings and biocompatible materials, can enhance therapy outcomes and drive market growth. Negative pressure wound therapy is increasingly being explored in pediatric and neonatal patients with complex wounds, providing a new avenue for market expansion.
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) analyst.
Negative Pressure Wound Therapy Market Report Scope:
| Attributes | Details | |||||
| Estimated Market Size in 2023 | US$6.5 billion | |||||
| Projected Market Valuation in 2033 | US$ 10.8 billion | |||||
| Value-based CAGR 2023 to 2033 | 5.3 | % | ||||
| Forecast Period | 2023 to 2033 | |||||
| Historical Data Available for | 2018 to 2022 | |||||
| Market Analysis | Value in US$ billion | |||||
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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.
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore FMI’s related ongoing Coverage in the Healthcare Market Insights Domain:
- Advance Wound Dressing Market Size: The size was valued at US$ 8,978.0 million in 2020, and is projected to reach US$ 14,190.5 million by 2030, registering a CAGR of 4.8%
- Digital Wound Measurement Devices Market Share: The global market is likely to reach US$ 2,266.6 million in 2023. The market is expected to be worth US$ 3,293.3 million by 2033, expanding at 3.8% CAGR over the forecast period.
- Disposable Negative Pressure Wound Therapy Devices Market Demand: Global market size is set to experience significant growth of 10.7% CAGR from 2022 to 2028, with an estimated market value of around US$ 461.3 Million in 2028.
- Single Dose Radiotherapy Services Market Growth: The global market is expected to attain a valuation of US$ 7.88 billion in 2023 and is projected to reach US$ 16 billion by 2033, expanding at a CAGR of 7.3% during the forecast period.
- Wound Debridement Products Market Outlook: The wound debridement products market is anticipated to flourish at a healthy CAGR of 5.2% between 2023 and 2033. The market is expected to hold a share of US$ 7.52 billion by 2033, while the market is likely to reach a value of US$ 4.54 billion in 2023.
About Future Market Insights (FMI)
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