Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "NPWT Devices and Dressings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global market for negative pressure wound therapy (NPWT) devices and dressings is set for substantial growth over the next decade. During the forecast period of 2024-2031, the market is expected to demonstrate a robust CAGR.
The increasing prevalence of acute and chronic disorders worldwide is a significant driver for the demand for NPWT devices and dressings. The popularity of home healthcare settings and the growing need for NPWT in modern lifestyles will continue to foster market growth in the coming years.
Key Market Segments
In terms of product type, NPWT dressing kits hold a major market share compared to NPWT devices. Hospitals are the largest end-user segment in the market, while home care settings are expected to become the most lucrative end-user segment in the near future.
North America Remains Global Leader, Spearheaded by the US
North America is a mature market with substantial NPWT device penetration and is expected to maintain its global leadership in revenue contribution. Dressing kits and home care settings are projected to be the largest segments in this region in terms of product type and end-users, respectively. Ongoing innovation by manufacturers is expected to attract investors, especially in the US, making it the most lucrative region for NPWT device market investments. Favorable reimbursement policies established by Medicare and Medicaid services are set to drive NPWT device demand in the region.
APAC Emerges as an Attractive Market
The Asia-Pacific (APAC) region is poised to emerge as the fastest-growing market over the forecast period. The increasing prevalence of diabetes, leading to diabetic foot ulcers, is expected to drive NPWT device and dressing demand in the APAC market. Early adoption of NPWT devices and dressings has been observed in China and Japan, with India projected to grow rapidly by 2031. Australia and Japan are among the highest healthcare spenders in the region, followed by Singapore and China.
According to NCBI, Asian countries account for over 60% of the world's diabetic population, with Japan, China, and India experiencing a significant rise in diabetes cases. This factor plays a pivotal role in boosting the demand for NPWT dressing kits and devices in the Asia-Pacific region. Other factors propelling the APAC NPWT device and dressing market include the increasing demand for portable devices and the growing popularity of home care settings.
However, challenges such as lack of awareness in some parts of APAC, insufficient reimbursement policies, and the introduction of alternative FDA-approved therapies like HBOT and TOT may continue to pose challenges to market growth in the region.
NPWT Devices and Dressings Market Segmentation
By Product Type
- NPWT Devices
- Standalone NPWT Devices
- Portable NPWT Devices
- Disposable NPWT Devices
- NPWT Dressing kits
- Foam dressing kit
- Gauze dressing kit
By Application
- Chronic Wounds
- Venous leg ulcers
- Diabetic foot ulcers
- Pressure ulcers
- Acute Wounds
- Traumatic wounds
- Burn cases
- Surgical Procedures
By End-user
- Hospitals
- Clinics
- Ambulatory surgical centers
- Home care settings
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Key Topics Covered:
1. Executive Summary
1.1. Global NPWT Devices and Dressings Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2018 - 2023
3.1. Global NPWT Devices and Dressings Production Output by Region, Value (US$ Mn), and Volume (Units), 2018 - 2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2018 - 2023
4.1. Global Average Price Analysis by Product Type, 2018 - 2023
4.2. Prominent Factor Affecting NPWT Devices and Dressings Prices
4.3. Global Average Price Analysis by Region
5. Global NPWT Devices and Dressings Market Outlook, 2018 - 2031
5.1. Global NPWT Devices and Dressings Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. NPWT Devices
5.1.1.1.1. Standalone NPWT Devices
5.1.1.1.2. Portable NPWT Devices
5.1.1.1.3. Disposable NPWT Devices
5.1.1.2. NPWT Dressing kits
5.1.1.2.1. Foam dressing kit
5.1.1.2.2. Gauze dressing kit
5.2. Global NPWT Devices and Dressings Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Chronic Wounds
5.2.1.1.1. Venous leg ulcers
5.2.1.1.2. Diabetic foot ulcers
5.2.1.1.3. Pressure ulcers
5.2.1.2. Acute Wounds
5.2.1.2.1. Traumatic wounds
5.2.1.2.2. Burn cases
5.2.1.2.3. Surgical Procedures
5.3. Global NPWT Devices and Dressings Market Outlook, by End-User, Value (US$ Mn) and Volume (Units), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Hospitals
5.3.1.2. Clinics
5.3.1.3. Ambulatory surgical centers
5.3.1.4. Home care settings
5.4. Global NPWT Devices and Dressings Market Outlook, by Region, Value (US$ Mn) and Volume (Units), 2018 - 2031
6. North America NPWT Devices and Dressings Market Outlook, 2018 - 2031
7. Europe NPWT Devices and Dressings Market Outlook, 2018 - 2031
8. Asia Pacific NPWT Devices and Dressings Market Outlook, 2018 - 2031
9. Latin America NPWT Devices and Dressings Market Outlook, 2018 - 2031
10. Middle East & Africa NPWT Devices and Dressings Market Outlook, 2018 - 2031
11. Competitive Landscape
11.1. By End User vs by Application Heatmap
11.2. Company Market Share Analysis, 2023
11.3. Competitive Dashboard
11.4. Company Profiles
- Avery Dennison Corporation
- Cardinal Health
- Smith & Nephew, Inc.
- Molnlycke Health Care
- Medela
- Devon Medical Products
- Acelity
- ConvaTec Inc.
- PAUL HARTMANN
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