What is the market size of Negative Pressure Wound Therapy Market?

 

Negative Pressure Wound Therapy Market Highlights:

The  negative pressure wound therapy market size was volumed at USD 2.5 billion in 2022 and is expected to rise from USD 2.6 Billion in 2023 to USD 3.7 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2023 - 2030). The report profiles the global negative pressure wound therapy market’s historical statistics to provide reliable insights and predictions into the global negative pressure wound therapy market’s likely growth trajectory over the forecast period. Key players and leading segments in the global negative pressure wound therapy market are also profiled in the report to provide readers with an accurate picture of the market’s inner dynamics.

Negative pressure wound therapy is carried out by covering a wound in a special sealed dressing and exposing it to a vacuum, which draws out pus and other such residue and helps clarify the wound by improving blood circulation in the region. The global negative pressure wound therapy market research report has mainly grown in the 1990s and 2000s following the development of the method and gradual growth in the awareness about its effectiveness. The growing demand for wound healing systems that promote quick wound healing is expected to be a major driver for the global negative pressure wound therapy market over the forecast period. The clean and non-invasive nature of negative pressure wound therapy is also likely to be a major market driver over the forecast period.

The growing expenditure on wound care is likely to be a key driver for the global negative pressure wound therapy market over the forecast period. Factors such as the growing prevalence of diabetes could also play a crucial role in the global negative pressure wound therapy market over the forecast period, as the therapy is extensively used in the treatment of diabetic ulcers.

Segmentation:

The global negative pressure wound therapy market has been segmented on the basis of product type, wound type, end user, and region.

On the basis of product type, the negative pressure wound therapy market has been segmented into conventional negative pressure wound therapy devices, single-use negative pressure wound therapy devices, and accessories. The conventional segment accounted for the largest share of the global market in 2017 due to its effectiveness in handling large volumes of exudates.

By wound type, the global negative pressure wound therapy market is segmented into surgical and traumatic wounds, ulcers, and burns. The ulcers segment has been further subclassified as venous ulcers, foot ulcers, pressure ulcers, and others.

By end use, the global negative pressure wound therapy market is segmented into hospitals, home care settings, and others. Hospitals are likely to remain the leading end user in the global negative pressure wound therapy market over the forecast period due to their prominent role in wound care and the easy availability of advanced negative pressure wound therapy systems in hospitals.

Regional Analysis:

The global negative pressure wound therapy market is segmented into the Americas, Europe, the Middle East and Africa, and Asia Pacific. The Americas segment is expected to dominate the global negative pressure wound therapy market over the forecast period due to the growing demand for wound therapy in the region and the increasing advancement of the healthcare sector, which is facilitating easy access to advanced solutions such as negative pressure wound therapy across the region. According to the National Diabetes Statistics Report, the U.S. housed more than 30.3 million diabetics in 2017. This is likely to be a key driver for the negative pressure wound therapy market in the region over the forecast period.

Europe is also likely to retain a dominant in the global negative pressure wound therapy market share over the forecast period due to the technological advancement of the healthcare sector in the region. Growing prevalence of diabetes could also emerge as a key driver for the negative pressure wound therapy market in Europe over the forecast period.

Negative Pressure Wound Therapy Market Players

The global negative pressure wound therapy market players include Acelity L.P. Inc., ConvaTec Group plc, Smith & Nephew, Talley Group, Genadyne, Molnlycke Health Care AB, Medela, Lohmann & Rauscher International GmbH & Co. KG, DeRoyal Industries Inc., and Cardinal Health.

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