NPWT, or negative pressure wound therapy, systems are medical devices classified as class II by the FDA. These systems are composed of a wound dressing set, drainage tubing, and a vacuum pump, which requires electricity for operation. The main function of NPWT is to apply suction or negative pressure to aid wound healing and remove fluids like wound exudate, bodily fluids, irrigation fluids, or infectious materials. NPWT is commonly used for different types of wounds, including acute, sub-acute, chronic, traumatic, and diabetic ulcers, dehisced wounds, pressure injuries, grafts, and skin flaps.
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It is projected that the global negative pressure wound therapy (NPWT) devices market will be worth around US$ 2,288.1 Mn by 2022, with a predicted CAGR of 6.5% from 2022-2030.
Market Drivers
The global negative pressure wound therapy (NPWT) devices market is projected to experience growth during the forecast period due to the rising occurrence of chronic wounds and ulcers across the world.
As an example, the National Library of Medicine published an article on October 5, 2020 titled “The Incidence of Pressure Ulcers and its Associations in Different Wards of the Hospital: A Systematic Review and Meta-Analysis.” According to this article, approximately 2.5 million hospitalizations in the United States each year are caused by pressure ulcers. Additionally, the healthcare system in the United States spends around US$ 11 billion per year on preventing and treating pressure ulcers.
The market growth is anticipated to be driven by the expected rise in diabetes prevalence during the forecast period.
The World Health Organization (WHO) reports that the number of people with diabetes worldwide has reached 422 million as of September 16, 2022, with low- and middle-income nations seeing a faster increase in prevalence than high-income nations. Globally, an estimated 2 million deaths were attributed to diabetes and kidney disease in 2019.
Impact of the Coronavirus (COVID-19) Pandemic
As of December 2019, the COVID-19 virus had rapidly spread to more than 100 countries worldwide, leading the World Health Organization to officially declare it a public health emergency on January 30, 2020.
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The economy has been impacted by COVID-19 in three key ways, which include direct effects on drug and vaccine demand and production, distribution channel disruptions, and financial impacts on markets and firms. Countries such as India, Egypt, Saudi Arabia, China, the U.A.E., and others experienced challenges in the transportation of vaccines and drugs due to nationwide lockdowns. The pre-pandemic wound care model relied on visits to outpatient facilities, which were deemed nonessential or had limited access during the pandemic, resulting in negative effects on the negative pressure wound therapy devices market.
Recent Developments
3M Health Care Medical Solutions, a branch of 3M, revealed on October 13, 2022, that their 3M V.A.C. Therapy negative pressure wound therapy (NPWT) had accomplished a significant clinical evidence milestone of 2,000 published, peer-reviewed medical journal studies. V.A.C. Therapy is the sole NPWT product to reach such a large number of published studies regarding its therapy. It has the most clinical data available compared to any other brand, constituting over 75% of published NPWT clinical evidence.
A privately-owned medical device company called Aatru Medical, LLC, announced on August 24, 2021, that its Negative Pressure Surgical Incision Management System for the NPWT market, known as NPSIMS, received 510(k) Class II clearance from the US Food and Drug Administration (FDA).
Market Restraints
The growth of the global negative pressure wound therapy (NPWT) devices market is hampered by significant factors such as complications arising from the use of NPWT devices and product recalls. As an example, on December 2, 2021, the Canadian government issued a recall of the Avelle Negative Pressure Wound Therapy Pump produced by medical products and technology company Convatec Inc. due to manufacturing flaws.
Top Companies
Some of the top companies, including Cardinal Health, Devon Medical Products, Smith & Nephew, 3M, Genadyne, Convatec Inc., DeRoyal Industries, Inc., Mölnlycke Health Care AB, Cork Medical LLC, Paul Hartmann AG, Talley Group Ltd., Medela AG, and ATMOS MedizinTechnik GmbH & Co. KG, are operating in the global negative pressure wound therapy (NPWT) devices market.
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• Current and future of Negative Pressure Wound Therapy (NPWT) Devices Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
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The Negative Pressure Wound Therapy (NPWT) Devices Market is displayed in 13 Chapters:
Chapter 1: Market Overview, Drivers, Restraints and Opportunities
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%) and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Market Forecast
Chapter 13: Negative Pressure Wound Therapy (NPWT) Devices Research Findings and Conclusion, Appendix, methodology and data source
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