PUBLISHER: SkyQuest | PRODUCT CODE: 1448395
PUBLISHER: SkyQuest | PRODUCT CODE: 1448395
Global Negative Pressure Wound Therapy Devices Market size was valued at USD 2.14 billion in 2022 and is poised to grow from USD 2.29 billion in 2023 to USD 3.93 billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).
The market for Negative Pressure Wound Therapy (NPWT) is growing because more people need advanced care for wounds. Instead of traditional products, single-use NPWT devices are becoming popular. For example, Smith & Nephew's PICO is widely used worldwide. The demand for these devices is expected to go up because more people have chronic diseases like diabetes, which can cause problems like diabetic foot ulcers. Transportation injuries, especially from road accidents, have caused a lot of wounds. But because the pandemic has led to fewer people using public and private transportation, there are fewer patients needing medical help for wounds. Overall, the COVID-19 pandemic has hurt the market. In the U.S., the number of people with diabetic ulcers is going up by 2% each year, which is expected to help the market grow. In places like the Asia Pacific region, there are more traumatic events happening, leading to burns that damage a lot of skin. This means the demand for wound treatments will go up, which will help the market for these products grow too.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Negative Pressure Wound Therapy Devices Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Negative Pressure Wound Therapy Devices Market Segmental Analysis
The global negative pressure wound therapy devices market is segmented on the basis of product, type, end - user, region. By product, the market is segmented into conventional NPWT, and single-use NPWT. By type, the market is segmented into diabetic foot ulcers, venous leg ulcers, pressure ulcers, burn wounds, and others. By end - user, the market is segmented into hospitals & clinics, Ambulatory Surgery Centers (ASCs), and home care settings. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Drivers of the Global Negative Pressure Wound Therapy Devices Market
The increase in long-lasting wounds like diabetic ulcers and pressure ulcers, plus more surgeries being done, has made more people need NPWT devices. These devices help wounds heal faster and lower the chance of infections.
Restraints in the Global Negative Pressure Wound Therapy Devices Market
The starting cost of NPWT devices and the ongoing costs for things like dressings, canisters, and accessories can be a big problem for some healthcare systems that don't have a lot of money to spend.
Market Trends of the Global Negative Pressure Wound Therapy Devices Market
More and more, NPWT devices are being used at home. This is because new NPWT systems are easier to carry around and use, so patients can keep up with their normal activities while getting treatment.