Negative Pressure Wound Therapy Market Size to Cross USD 4 Billion by 2028

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Negative pressure wound therapy market

Negative pressure wound therapy market is flourishing owing to the increase in the frequency of chronic wounds, such as diabetic foot ulcers, post-surgical ulcers, and pressure ulcers, and increasing cost of wound care.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global negative pressure wound therapy market size at USD 2.25 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects global negative pressure wound therapy market size to grow at a steady CAGR of 9.0% reaching a value of USD 4.08 billion by 2028. Due to the growing demand for advanced wound care, the market for negative pressure wound therapy is expected to expand (NPWT). Single-use NPWT devices are becoming more and more popular in the field of wound care management. For instance, Smith & Nephew unveiled PICO, a single-use NPWT that is now well-liked all over the world. It is expected that the industry demand will be significantly impacted by the rising prevalence of chronic diseases like diabetes. This is primarily because complications like diabetic foot ulcers are frequently caused by diabetes.

Global Negative Pressure Wound Therapy Market – Overview

Chronic wounds can result in complications, such as infection, ulceration, and insufficient blood supply, which lengthens the time it takes for a wound to heal. Vein ulcers, diabetic foot ulcers, and pressure ulcers are the three most prevalent chronic wounds. According to a National Institutes of Health (NIH) article in 2021, there were 64 million cases of diabetes in India, and 25% of those people had diabetic foot ulcers. According to a 2021 report from the Mission Regional Medical Center, there are currently 6.7 million people living with chronic wounds, and over the next ten years, that number is projected to increase by more than two percent. For the health care system, chronic wounds cost more than USD 50 billion.

More than 29 million Americans have diabetes, and nearly 2 million of them will develop a diabetic foot ulcer or another non-healing wound each year, according to the same source. Over the past 20 years, there has been a large body of research on the topical application of negative pressure wound therapy. Many clinical trials have demonstrated this therapy’s efficacy in the management of superficial wounds. Additionally, the localized application of negative pressure wound therapy infected wounds has benefits including wound drainage, angiogenesis stimulation, proteinase excretion, and reduced local and systemic bacterial load. Negative Pressure Wound Therapy combined with silver dressings, as found in a study published in the International Wound Journal 2020, reduces infection. The market for negative pressure wound therapy is therefore expected to expand significantly throughout the forecast period because of the aforementioned factors.

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Opportunity: Escalating demand for cutting-edge treatment methods

Increased awareness of technologically advanced treatment modalities is one of the main factors propelling growth in the global negative pressure wound therapy (NPWT) devices market. For instance, in December 2018, Kinetic Concepts, Inc. (KCI) unveiled the most recent development in negative pressure wound therapy that is specifically intended for multiple traumatic wounds. The V.A.C.RX4 Therapy System will soon be available in the US, according to KCI, an acceleration company. To help military personnel treat multiple battlefield wounds with a single negative pressure wound therapy (NPWT) device and to comply with safe-to-fly standards, the V.A.C.RX4 System was developed at the request of the US Air Force and Department of Defense.

Challenge: High cost of dressing replacement for wound therapy using negative pressure

The global negative pressure wound therapy market is dealing with several problems that are partially limiting its growth, despite maintaining a positive outlook. Some of these factors include the scarcity of trained professionals, the high price of advanced negative pressure wound therapy devices, and the growing acceptance of traditional wound management in developing countries.

Impact of COVID-19 on Global Negative Pressure Wound Therapy Market

The rapid spread of the COVID-19 virus caused a global pandemic that disrupted healthcare services, including the care of patients with wounds. Wound care delivery underwent a significant change due to the need, and it should be viewed as a fundamental clinical service. During the pandemic, the main objectives of negative pressure wound therapy shifted from ensuring that wounds fully healed to preventing serious complications to minimize the need for surgery and hospitalization. Major manufacturers’ production has been drastically reduced because of the pandemic, which has increased the cost of wound dressings.

Global Negative Pressure Wound Therapy Market – By Wound Type

Negative pressure wound therapy is used to treat various types of wounds, including burns, surgical and open wounds, pressure ulcers, diabetic foot ulcers, venous leg ulcers, and traumatized wounds. In 2021, the market for negative pressure wound therapy (NPWT) devices was largely driven by the diabetic foot ulcer segment. Demand for negative-pressure wound therapy (NPWT) devices is anticipated to increase due to the rising incidence of diabetic foot ulcers. 15% of people with diabetes experience a diabetic foot ulcer, an open sore or wound on the bottom of the foot. Hospitalization for an infection or another issue related to the ulcer occurs in 6% of patients with foot ulcers.

Competitive Landscape

Global negative pressure wound therapy market is fiercely competitive. Prominent players in global negative pressure wound therapy market includeSmith + Nephew, ConvaTec Group Plc, Cardinal Health, Paul Hartmann AG, Lohmann & Rauscher International GmbH & Co KG., Medela LLC, Alleva Medical Ltd., Cork Medical, Carilex Medical GmbH, Acelity L.P. Inc., Mölnlycke Healthcare AB, DeRoyal Industries, Inc, Genadyne Biotechnologies, Inc., Argentum Medical, LLC, and 4L Health Co. Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Global Negative pressure wound therapy Market.

Don’t miss the business opportunity in the Global Negative Pressure Wound Therapy Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Negative Pressure Wound Therapy Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Negative Pressure Wound Therapy Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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