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Negative Pressure Wound Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4987157
  • Report
  • April 2021
  • Region: Global
  • 125 Pages
  • Mordor Intelligence
UP TO OFF
until Sep 30th 2021

FEATURED COMPANIES

  • Abbvie (Allergan Plc)
  • Acadia Pharmaceuticals
  • Alkermes Plc
  • AstraZeneca
  • Eli Lilly and Company
  • Johnson & Johnson
  • MORE
The negative pressure wound therapy market is projected to register a CAGR of 5.7% during the forecast period, with estimated market size of approximately USD 3,052 million in 2020 and reach about USD 4,250 by 2026.

The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. COVID-19 has had a few antagonistic effects on the businesses, and there are a few clinical organizations whose supply chains from different districts are waiting or in danger of being held up. In this way, COVID 19 can likewise affect manufacturers, which are providing a large portion of the market volume, because of supply chain issues. This is relied upon to diminish production rates; in any case, this can likewise drive up the costs of wound dressing for the time being. 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 year, 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. Though the 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 International Journal of Advances in Medicine (2018), there were around 42 million cases of diabetes in India and among these people, around 15% suffered from diabetic foot ulcer. A study conducted by the Wound Healing Society (WHS), United States, revealed that, approximately 8.2 million people had wounds with or without infection during 2018 in the United States and the total cost of Medicare for acute and chronic wounds was around USD 21.1 – USD 96.8 billion for the year 2018. In addition, As per a 2018 report by Andrew J.M. Boulton et al., published in American Diabetes Association, the annual incidence of diabetic foot ulcer is about 2% and is on the rise in the Western countries.

The topical use of NPWT 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 NPWT 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 Journal of Trauma 2018, it was found that NPWT augmented with silver dressings decreases infection.

Key Market Trends

Diabetic Foot Ulcers are Expected to Witness Good Growth in the Market Studied

The COVID-19 pandemic has affected the supply chain of pharmaceutical products. In the beginning of 2020, the outbreak of COVID-19 worldwide impacted the market studied, as wound care services, such as Diabetic Foot Ulcer and pressure ulcer treatments, were put on hold to prevent the spread of the COVID-19 virus. This situation put tremendous pressure on hospitals and other healthcare centers to provide services to COVID-19 patients.​ As per the article published in The Wounds Clinic, 2020, the COVID-19 pandemic has changed the perspectives on the way wound clinics have been operating. The United States surgeon general, the Centers for Medicare and Medicaid Services(CMS), and the American College of Surgeons recommended that all the non-essential medical and surgical services to 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.​

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. The annual incidence of DFU across the globe is around 6.3%, as stated by the report from the American College of Physicians (ACP) 2018. Furthermore, the report suggests that the lifetime incidence of foot ulcers in diabetic patients is 19-34%. 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 the In Dependent Diabetes Trust (IDDT) 2018, in the United Kingdom, it was estimated that around 115,000 people develop diabetic foot ulcers, every year. Owing to many people with DFU in the United Kingdom, there is a growing demand for the NPWT devices in the country, as NPWT is one of the most efficacious, safe, and cost-effective method of treating DFUs.

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.

Hence, due to the efficacy of the NPWT in healing the DFU in less time, the demand for NPWT is increasing despite the high price of it. Added to that, rising incidence and prevalence of DFU across the globe are fuelling the segment growth.

North America is Expected to Dominate the Market Over 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 NPWT is moderately competitive with the presence of most of the international companies. The big players in this market are focusing on technological advancements of their products to sustain in the market and increase competitiveness. For instance, in 2019, KCI, an Acelity Company has received FDA clearance for DERMATAC Drape, a significant advancement in NPWT, it conforms to different anatomical locations, adapting to the body and providing a tight, highly effective seal for 48 to 72 hours in uneven areas, for wound protection.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbvie (Allergan Plc)
  • Acadia Pharmaceuticals
  • Alkermes Plc
  • AstraZeneca
  • Eli Lilly and Company
  • Johnson & Johnson
  • MORE
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Schizophrenia and Associated Disorders
4.2.2 Increase in Focus of Governments and Health Care Organizations on Mental Health
4.2.3 Increasing Investments in R&D
4.3 Market Restraints
4.3.1 Increase in Cases of Addiction Associated with these Drugs
4.3.2 Patent Expiry of Major Drugs
4.4 Porter's Five Forces 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 MARKET SEGMENTATION
5.1 By Therapeutic Class
5.1.1 Second-generation Antipsychotics
5.1.2 Third-generation Antipsychotics
5.1.3 Other Therapeutic Classes
5.2 By Treatment
5.2.1 Oral
5.2.2 Injectables
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alkermes Plc
6.1.2 Abbvie (Allergan Plc)
6.1.3 AstraZeneca
6.1.4 Eli Lilly and Company
6.1.5 Johnson & Johnson
6.1.6 Pfizer Inc.
6.1.7 Sumitomo Dainippon Pharma
6.1.8 Vanda Pharmaceuticals
6.1.9 Bristol-Myers Squibb and Company
6.1.10 Otsuka America Pharmaceutical, Inc.
6.1.11 Acadia Pharmaceuticals
6.1.12 Karuna Therapeutics

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Alkermes Plc
  • Abbvie (Allergan Plc)
  • AstraZeneca
  • Eli Lilly and Company
  • Johnson & Johnson
  • Pfizer Inc.
  • Sumitomo Dainippon Pharma
  • Vanda Pharmaceuticals
  • Bristol-Myers Squibb and Company
  • Otsuka America Pharmaceutical, Inc.
  • Acadia Pharmaceuticals
  • Karuna Therapeutics
Note: Product cover images may vary from those shown

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