Negative Pressure Wound Therapy (NPWT) Devices Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Negative pressure wound therapy (NPWT) is a process of removal of the fluid and infection from a wound, this therapy involves a special bandage, tubing, a negative pressure device, and a canister to collect fluids from the wound. NPWT is also called vacuum-assisted wound closure therapy, it has become a popular treatment for many acute and chronic wounds.

The market for NPWT devices is mainly driven by the rising prevalence of chronic wounds such as diabetic foot ulcers, and venous ulcers, among others. In addition, the growing number of surgeries has also resulted in rising in the number of traumatic and surgical wounds, which is further driving the market. Wound care products, such as NPWT devices are increasingly being used to prevent surgical site infections. NPWT is a special medical dressing that is attached to a vacuum pump and helps in healing the wounds by covering the surface. It reduces the risk of infection by sucking the fluid from the wound. Thus, the global negative pressure wound therapy devices market is expected to witness a CAGR of ~7% during the forecast period (2021-2027F).

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COVID-19 is a global health emergency that affects almost every industry, this pandemic has been proceeding to change the growth of different market sectors. In the healthcare industry, the pandemic directly affected the manufacturing, demand, and supply chain of various medical devices and pharmaceutical companies. Furthermore, worldwide imposed lockdowns and restrictions on international supplies halted the supply chain of the raw material, and transportation of the NPWT devices also had a significant effect on the market growth.

According to ‘UnivDatos Market Insights (UMI)’ research report “NPWT Devices Market Analysis, 2020”, the NPWT devices market is projected to grow at a CAGR of ~7% during 2021-27F. According to WHO, between 2000 and 2016, there was a 5% increase in premature mortality rates from diabetes. In high-income countries, the premature mortality rate due to diabetes decreased from 2000 to 2010 but then increased from 2010-2016. In lower-middle-income countries, the premature mortality rate due to diabetes increased across both periods. An increasing number of patients increases the demand for various medical equipment for diagnostics, monitoring, or treatment purpose. NPWT Devices become an integral part of medical science because it has application in every sector of health care such as imaging, patient monitoring, and surgical procedures

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Based on product type, the market is segmented into single-use NPWT devices and conventional NPWT devices. In 2020, the conventional NPWT device segment accounted for the larger market share. Furthermore, market growth is driven by the increasing geriatric elderly population, suffering from different types of chronic diseases and the growing prevalence of diabetes mellites. In addition, among chronic wounds, foot ulcer is expected to witness the fastest growth rate during the forecast period.

Based on wound type, the market has been bifurcated into chronic wounds and acute wounds. Among these, chronic wound type is expected to witness significant CAGR during the forecast period. Due to rising the use of NPWT devices for the treatment of diabetic foot ulcers. In addition, according to NCBI in 2017, the prevalence of diabetic foot ulcers was ~6% across the world.

Based on end-users, the global market is categorized into hospitals & clinics, homecare settings, and others. In 2020, the hospitals and clinics end-user category held a significant share in the market and is expected to grow with a strong CAGR during the forecast period (2021-2027F). The growth of this segment is due to the large number of treatment procedures conducted in hospitals and the easy availability of reimbursements.

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North America to witness Significant Growth

For a better understanding of the market adoption of the NPWT Devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World. During the forecast period, North America is expected to witness strong growth during the forecast period due to the growing consumer inclination toward advanced medical devices has positively influenced the NPWT Devices market in the region. Furthermore, countries like the U.S. and Canada spend more on their health care infrastructure and public health, which is further expected to drive the market exponentially. For instance, as per the Centers for Medicare & Medicaid Services (CMS), U.S. health care spending grew 9.7 percent in 2020, reaching $4.1 trillion or $12,530 per person. 

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the NPWT Devices Market are 3M Company, Smith & Nephew plc, Mölnlycke Healthcare AB, ConvaTec Group Plc, Paul Hartmann AG, Lohmann & Rauscher International GmbH & Co KG., Triage Meditech Pvt. Ltd., Talley Group, Alleva Medical Ltd., Carilex Medical GmbH. The players are focused on launching new solutions and services, partnerships, and collaborations with major companies expanding their geographical reach to get a competitive edge in the industry.

 “NPWT Devices Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for NPWT Devices providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.     By Product type (Single-use NPWT devices and Conventional NPWT devices)

2.     By Wound type (Chronic wounds and Acute wounds)

3.     By End-User (Hospitals & Clinics, Homecare Settings, and Others)

4.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.     By Company (3M Company, Smith & Nephew plc, Mölnlycke Healthcare AB, ConvaTec Group Plc, Paul Hartmann AG, Lohmann & Rauscher International GmbH & Co KG., Triage Meditech Pvt. Ltd., Talley Group, Alleva Medical Ltd., Carilex Medical GmbH)

Key questions answered in the study:

1.     What are the current and future trends of the NPWT Devices industry?

2.     How the industry has been evolving in terms of product type?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the NPWT Devices industry?

5.     What are the customer orientations, purchase behavior, and expectations from the NPWT Devices firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 IMPACT OF COVID-19 ON THE NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET

6 NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY PRODUCT

8 MARKET INSIGHTS BY WOUND TYPE

9 MARKET INSIGHTS BY END-USER

10 MARKET INSIGHTS BY REGION

11 NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET DYNAMICS

12 NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET OPPORTUNITIES

13 NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET TRENDS

14 POLICY AND REGULATORY LANDSCAPE

15 DEMAND AND SUPPLY-SIDE ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER

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