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Negative Pressure Wound Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 125 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4987157
UP TO OFF until Jun 30th 2023
The negative pressure wound therapy market is projected to register a CAGR of 5.7% during the forecast period with market size of approximately, USD 3325.96 million in 2021 and estimated to reach USD 4498.93 million by 2027

The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. Most of the wounds are caused by road accidents and transport injuries. This was the significant driving element for the market. With the lockdown that was placed globally in the initial part of the pandemic the public transport being canceled, and people not getting on roads like before, there is a drastic decrease in the number of accidents and injuries. However, due to the relaxation of the restrictions during the post-pandemic period, there is an increasing number of accident cases which is expected to propel the growth of the market. Though diabetic wound treatment has been in place as it is a must and cannot be neglected, the other segments of the market have a slight impact.

Negative pressure wound therapy (NPWT) is considered to be the most preferred choice of treatment, especially for deep acute wounds and persistent chronic wounds including leg ulcers.

Some of the factors that are driving the overall market growth are increasing number of accidents and traumatic events, rising chronic wounds such as diabetic foot ulcers and technological advancements in the NPWT devices.

Chronic wounds lead to complications, such as infection, ulceration, and insufficient blood supply, thus, increasing the wound healing period. Most common chronic wounds include venous ulcers, diabetic foot ulcers, and pressure ulcers. As per the Article published by National Institute of Health(NIH) in 2021, there were 64 million cases of diabetes in India and among these poeple, 25% have developed diabetif foot ulcers. The Mission Regional Medical center in 2021 published that around 6.7 million people currently live with chronic wounds and that number is expected to grow at more than two percent for the next decade.Chronic wounds represent a cost if more than USD 50 billion to the health care system.Also, the same source published that more than 29 million people have diabetes in United States and almost 2 million of those people annually will develop a diabetic foot ulcer or other non- healing wound. The topical use of Negative Pressure Would Therapy has been widely studied in the literature over the past 20 years. Most clinical trials have shown the effectiveness of this therapy in the treatment of superficial wounds. Moreover, the localized use of Negative Pressure Wound Therapy in infected wounds offers advantages, such as wound drainage, angiogenesis stimulation, proteinase excretion, and decreased local and systemic bacterial load. According to a study, published in the International wound Journal 2020, it was found that Negative Pressure Wound Therapy augmented with silver dressings decreases infection.Thus due to the above mentioned factors, the negative pressure wound therapy market is expected to grow with significant rate in the forecast period.

Key Market Trends

Diabetic Foot Ulcers are Expected to Hold a Major Market Share in the Negative Pressure Wound Therapy Market.

The COVID-19 pandemic has affected the supply chain of pharmaceutical products. The United States surgeon general, the Centers for Medicare and Medicaid Services(CMS), and the American College of Surgeons recommended in 2020 that all the non-essential medical and surgical services be delayed or canceled to reduce the exposure risk to the SARS-CoV-2 virus and conserve resources for a large number of the infected population. The wound centers were significantly impacted by these recommendations.​ However, during the post-pandemic period manufacturers have started to implement various strategies to gain major market shares.

Moreover, Diabetic Foot Ulcers (DFU) is one of the most common complications associated with Diabetes and is posing a burden on several countries across the globe. As per the study published by Nation Center for Biotechnology Information (NCBI) in 2021, The annual incidence of diabetic foot ulcer worlwide is between 9.1 to 26.1 million.Further more the report suggests that around 15 to 25% of patients with diabetes mellitus will develop a diabetic foot ulcer. Several studies have revealed that NPWT is helpful in reducing the time it takes wounds to heal. Faster wound healing results in an overall decrease in hospitalization and avoids the additional morbidity of chronic wounds. According to theJournal published by Public Health Emergency collection in National Institute of Health (NIH) in 2020, The incidence of diabetic foot ulcer in Englad has been estimated at between 2 and 6%. Owing to many people with Diabetic Foot Ulcer in the European Region, there is a growing demand for the Negative Pressure Wound Therapy devices in the country, as it is one of the most efficacious, safe, and cost-effective method of treating Diabetic Foot Ulcers.

Furthermore, diabetic foot ulcers impose a substantial burden on public and private payers in the United States, doubling care costs per patient compared with diabetic patients without foot ulcers. The average annual expenditure of diabetic foot care in the United States is around USD 8,659 per patient and the total medical cost for the management of diabetic foot disease in the United States ranges from USD 9 to USD 13 billion, in addition to the cost for management of diabetes mellitus alone as per the data published in the Elsivier Journal in 2022.

Hence, due to the efficacy of the Negative Pressure Wound Therapy in healing the Diabetif Foot Ulcers in less time, the demand for Negative Pressure Wound Therapy is increasing despite the high price of it. Added to that, rising incidence and prevalence of Diabetic Food Ulcers across the globe are fuelling the segment growth.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.

The United States is the most COVID-19 affected country across the world. The market experienced a significant decline during the initial days of the pandemic but later on owing to the increased incidence of accidents and traumatic events, burn wounds and pressure ulcers with the COVID 19 patients has created a huge demand for the negative pressure wound therapy market during the forecast period.

Being one of the most developed economies and technologically advanced countries, the United States from the North America region is holding the largest share in the medical devices market which is a beneficial factor for the market studied. NPWT is an expensive procedure but the reimbursement policies in the North American region are better hence, the service or treatment availed by the patient becomes cheap compared to that of developing countries. Furthermore, this region has the presence of all the key players that are dominating the NPWT market. Therefore, owing to the aforementioned factors, North America is expected to have a significant share of the market studied.

According to the World Ageing 2019 report, in 2019, there were about 53.340 million (16.2%) in the population aged 65 years or over in the United States. This number is projected to reach 70.842 million (20.3%) in 2030. Furthermore, people over 65 are particularly vulnerable to pressure ulcers due to factors, such as reduced aging of the skin, blood supply, and a higher rate of mobility problems. Hence the rising aging population will increase the demand for negative pressure wound therapy.

In the United States, increasing awareness programs about wound management are further accelerating the market’s growth. For instance, the International Conference on Wound Care, Tissue Repair, and Regenerative Medicine aims to spread awareness among the patients and nursing staff regarding wound care. The rising awareness, rapid adoption of new technologies, and increasing chronic wound cases are positively impacting the NPWT market’s growth in the United States. Added to that, companies, such as Cardinal Health, 3M, and Smith & Nephew, offer a large portfolio in the negative pressure wound therapy market, and these companies hold healthy share in the United States.

Competitive Landscape

The market for Negative Pressure Wound Therapy is moderately competitive with the presence of most international companies. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are 3 M Company, Talley Group Ltd, Smith & Nephew, Devon Medical Products, Molnlycke Health Care AB, Medela AG, DeRoyal Industries Inc., Covatec Inc. Cardinal Health, Paul Hartmann AG and Others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Accidents and Traumatic Events
4.2.2 Rising Incidence of Chronic Wounds Such as Diabetic Foot
4.2.3 Technological Advancements in the NPWT Devices
4.3 Market Restraints
4.3.1 High Cost of Device and Treatment
4.3.2 Complications Associated With NPWT Device
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Product
5.1.1 Reusable Device
5.1.2 Single-use Device
5.2 By Wound Type
5.2.1 Diabetic Foot Ulcer
5.2.2 Pressure Ulcer
5.2.3 Venous Leg Ulcer
5.2.4 Burn Wounds
5.2.5 Other Wound Types
5.3 By End User
5.3.1 Hospitals
5.3.2 Homecare
5.3.3 Other End Users
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe United Kingdom Germany France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 3M Company
6.1.2 Talley Group Ltd
6.1.3 Smith & Nephew
6.1.4 Devon Medical Products
6.1.5 Molnlycke Health Care AB
6.1.6 Medela AG
6.1.7 DeRoyal Industries Inc.
6.1.8 ConvaTec Inc.
6.1.9 Cardinal Health
6.1.10 Paul Hartmann AG

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3M Company
  • Talley Group Ltd
  • Smith & Nephew
  • Devon Medical Products
  • Molnlycke Health Care AB
  • Medela AG
  • DeRoyal Industries Inc.
  • ConvaTec Inc.
  • Cardinal Health
  • Paul Hartmann AG