Negative Pressure Wound Therapy Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Negative Pressure Wound Therapy Market

Market Overview

A healing approach involving a vacuum dressing to inflame healing in acute or chronic wounds is Negative-pressure wound therapy. It is used to strengthen healing of second and third degree burns. These are the wounds that do not heal within a six- to eight-week like foot ulcers, leg ulcers, and cancerous wounds. Individuals having chronic medical conditions, such as high cholesterol, severe burns, vascular disease, anemia, or AIDS, are at a higher risk of developing chronic wounds.

The therapy involve the controlled exercise of sub-atmospheric pressure to the sectional wound environment using an airtight wound dressing joined to a vacuum pump. In negative-pressure wound therapy (NPWT), an injury is covered with an airtight dressing, and negative pressure is applied. This is thought to advocate healing. The primary aspects for fuelling demand for NPWT are augmenting incidence of acute and chronic wounds, burn cases and major surgeries. However, high cost of treatment through NPWT is the major restraint for the growth of global negative wound therapy market.

Market Segmentation

By product basis

• Stand-alone NPWT Devices
• Portable NPWT Devices
• Single-use Disposable NPWT Devices
• NPWT Accessories (Canisters)

By application

• Chronic Wounds
  • Pressure Ulcer
  • Diabetic Foot Ulcer
  • Venous Leg Ulcer
  • Arterial Ulcer

• Acute Wounds
  • Burns & Trauma
  • Surgical Wound

By End User

• Hospitals & Clinics
• Ambulatory Surgery Centers (ASCs)
• Home Care settings

By Region

• North America (US, Canada) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Rest of the World{Market Share (%), Market Size (USD Billion), Product Sales (Units)}

Market Size and Forecast (2016-2024)

The market for negative pressure wound therapy is anticipated to have a CAGR of approximately 7.4% over the foresaid period i.e. 2016-2024 with approximately USD 1.24 billion in 2015 and from 2016 the market is further anticipated to garner USD 4.25 billion by 2024. The rise in incidence of chronic wounds and geriatric population, also the increase in healthcare expenditure, and better focus on the development of cost-effective and disposable NPWT devices has led Australia to dominate the global NPWT market. In 2016, hospitals and clinics dominated the NPWT market by 50% of the total market share followed by ambulatory surgery centre.

In North America (US, Canada and Mexico) and Europe (Germany, France, Italy, Spain, UK), the rising rates of chronic wounds and ageing population has motivated companies to focus on the wound therapy devices and other wound care products. In Europe, the negative pressure wound therapy devices market is forecast to rise from USD 0.50 billion in 2016 to USD 0.63 million by 2020, with an annual growth rate of 4.9%.

Growth Drivers & Restraints

Diabetes represents 67% of the market share in global wound therapy market and also work as primary driver as rise in prevalence of diabetes work as a major driver for this market, prevalence of chronic diseases such as diabetes, mellitus, etc. which leads to chronic wounds, rising cases of skin ulcers due to lack of awareness towards hygiene etc. Negative pressure wound therapy overlay technique with collagen dressings is tentatively used for non healing wounds. These all work together as growth drivers for global negative pressure wound therapy market.

High treatment cost, ongoing controversy regarding high-level evidence in wound care, less implications of implementing NPWT as a treatment strategy in the health-care system, lack of awareness and presence of complexities with negative pressure wound therapy hinders this market.

Key Findings

• Prevailing NPWT devices dominated the product segment in 2015 owing to their high cost and availability of favorable reimbursement policies
• Diabetic foot ulcer held the largest revenue share in 2015 owing to its numerous applications, thus yielding a high success rate using NPWT
• Asia is the fastest-growing market because of the increasing population and the high prevalence of chronic wounds

Key Players

• BSN medical

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

• Car ilex Medical
• ConvaTec
• Galaxy Medical Products
• Innovative Therapies
• Triage Meditech
• Pensar Medical
• Devon medical
• Cardinal health Inc.
• Medela AG
• Paul Hartmann AG

Scope Background

Market Synopsis

Market Segmentation

The Negative Pressure Wound Therapy (NPWT) market is segmented as follows:

• By product Basis (Market Size, Demand Analysis and Growth Analysis)
• By application basis (Market Size, Demand Analysis and Growth Analysis)
• By end user (Market Size, Demand Analysis and Growth Analysis)

Global Negative Pressure Wound Therapy (NPWT) Market Report covered insights of below mentioned regions:

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks