Key Factors Driving Market Growth:
Negative Pressure Wound Therapy (NPWT) devices
are used to treat chronic wounds, such as diabetic ulcers, pressure sores, and
post-operative wounds, through the application of sub-atmospheric pressure to
an open wound. Growing prevalence of diabetes, increasing spending on chronic
and surgical wounds, government initiatives to prevent SSIs, and high rate of
cesarean sections in elderly mothers leading to increasing post-operative use
of NPWT devices are some of the factors expected to drive negative pressure
wound therapy market growth during the forecast period.
Revenue Growth Analysis:
The negative pressure wound therapy market is
expected to reach USD 3.2 billion by 2025, from USD 2.4 billion in 2020, at a
CAGR of 6.1%.
The study involved four major activities in estimating the current size of the negative pressure wound therapy market. Exhaustive secondary research was done to collect
information on the market and its different subsegments. The next step was to
validate these findings, assumptions, and sizing with industry experts across
the value chain through primary research. Both top-down and bottom-up
approaches were employed to estimate the complete market size. After that, market
breakdown and data triangulation procedures were used to estimate the market
size of segments and subsegments.
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Conventional NPWT devices segment
accounted for the largest share of the Negative pressure wound therapy market
in 2019
Based on the product, the Negative
pressure wound therapy devices market is segmented into conventional NPWT
devices, disposable NPWT devices, and NPWT accessories. The conventional NPWT
devices segment accounted for the largest share of this market in 2019, majorly
due to better management of severe wound exudates by the portable conventional
NPWT systems and their benefits—increased efficiency and reductions in the
length of hospital stay, the overall cost of treatment and total disease
bioburden.
Home care settings segment accounted for the largest share of the Negative
pressure wound therapy market, by end-user, in 2019
Based on end-user, the Negative pressure wound therapy devices market is
segmented into hospitals, home care settings, and other end users. The home
care settings segment was the largest end-users of NPWT devices in 2019. The
rising healthcare cost, increasing volume of surgical procedures, the
increasing sale of disposables and single-use consumables, rising geriatric
population, and an increase in the prevalence of age-related ailmentsare a few
of the major factors driving the growth of this end-user segment.
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Regional Growth Analysis:
In 2019, North
America accounted for the largest share of the Negative pressure
wound therapy market. The rising geriatric population, increasing incidence of
chronic wounds and diabetes, and the introduction of low-cost NPWT devices are
the major factors driving the growth of the Negative pressure wound therapy
devices market in North America. In
addition to this, a favorable reimbursement scenario has supported market
growth in this regional segment.
Key Players:
Prominent players in the Negative pressure wound therapy market include
Acelity L.P. Inc. (US), Smith & Nephew (UK), Mölnlycke Healthcare AB (Sweden), ConvaTec Group Plc (UK), Cardinal Health
(US), Paul Hartmann AG (Germany), DeRoyal (US), Lohmann & Rauscher
International GmbH & Co KG. (Germany),
Medela LLC (Switzerland), Genadyne
Biotechnologies, Inc. (US), Triage Meditech Pvt. Ltd. (Delhi),
Talley Group (UK), Alleva Medical Ltd. (China),
Cork Medical (US), 4L Health Co. Ltd. (China),
Carilex Medical GmbH (Germany), ChongQing
Sunshine Medical Industry & Trading Co (China),
Wuhan VSD Medical Science & Technology Co. Ltd. (China),
Pensar Medical (US), and Haromed Bvba (Belgium)
Acelity L.P. Inc. (US) held the leading
position in the Negative pressure wound therapy market. The company offers a
comprehensive portfolio of surgical healing, patient mobility equipment, and
tissue-repair therapy for acute care and serious traumas. To maintain its
leading position in the Negative pressure wound therapy devices market, the
company focuses on product launches and strategic acquisitions. The company has
a robust portfolio of NPWT devices, including V.A.C.Ulta, VeraFlo, InfoV.A.C,
ActiV.A.C., and V.A.C.Via. Acelity is a pioneer in NPWT devices and has been in
the market for more than 15 years, which provides it with a competitive edge.