The rising prevalence of diabetes, increasing spending on chronic and surgical wounds, government initiatives to prevent SSIs, and the high rate of cesarean sections in elderly mothers are the major factors driving the growth of the negative pressure wound therapy market. Also, emerging markets and the increasing sales of disposables and single-use consumables, are expected to offer growth opportunities for players operating in the NPWT devices market.
According to research report the negative pressure wound therapy market is expected to reach USD 2.72 billion by 2023 from USD 2.11 billion in 2018, at a CAGR of 5.2%.
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The report studies the market on the basis of product type, wound type, end user, and region.
•By product type, the NPWT devices market is segmented into conventional NPWT devices, single-use NPWT devices, and accessories. Single-use NPWT devices are expected to account for the fastest growing segment of the market during the forecast period.
•By end user, the negative pressure wound therapy market is classified into hospitals, home care settings, and other end users. The home care settings segment in NPWT devices market is expected to grow at the fastest rate during the forecast period.
•Based on wound type, the negative pressure wound therapy market is segmented into surgical and traumatic wounds, ulcers, and burns. Surgical and traumatic wounds accounted for the fastest growing segment in the NPWT devices market.
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).
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In 2019, North America accounted for the largest share of the NPWT devices 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 market in North America. In addition to this, a favorable reimbursement scenario has supported market growth in this regional segment.
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