The FDA categorizes negative pressure wound therapy, or NPWT, as a class II medical device. These systems comprise a vacuum pump that runs on electricity, a wound dressing set, and drainage tubing. The major purpose of NPWT is to remove fluids like body fluids, infectious contaminants, wound exudate, and irrigation fluids to promote wound healing. Acute, traumatic, sub-acute, chronic, and diabetic ulcers, dehisced wounds, pressure injuries, grafts, and skin flaps are just a few of the numerous types of wounds frequently treated using NPWT.
In 2021, the market value of negative pressure wound therapy was USD 2.37 billion, and by 2030 it will be worth USD 3.92 billion, growing at a 5.7% CAGR during the forecast period.
The market expansion is driven by factors like the rising frequency of chronic wounds linked to various chronic conditions like diabetes, ulcers, and obesity, as well as the rising incidence of active wounds like burns and surgical wounds. Moreover, the market is driven by an aging population, rising funding for wound care research, expanding awareness of effective wound care treatment, and technical developments in wound care product offerings.
The market is drive by the growing rate of chronic conditions, including diabetes mellitus and obesity. The rising prevalence of chronic diseases like diabetes is presenting a significant patient population with diabetic foot ulcers. For instance, research released by the NHS in 2017 estimated that 4.5 million people in the United Kingdom had diabetes, and approximately 10.0% of the diabetic population had foot ulcers.
Furthermore, the expanding geriatric population affected by various diseases and conditions reduces mobility among senior patients. It is one of the major market trends in negative pressure wound therapy devices. Such trends will fuel treatment demand and increase the adoption of vacuum-assisted closure devices.
The high cost of NPWT devices hampers the market. Furthermore, the care of patients needing such treatments is hamper by the lack of medical practitioners educate in NPWT methods and equipment.
The quick spread of the Coronavirus infection has prompted a worldwide pandemic, setting off the disturbance of medical care administrations, including the clinical consideration of patients with wounds. Because of the need, the arrangement of wound care, which should be seen as an essential clinical help, has moved definitely. During the pandemic, the significant targets of negative strain wound treatment moved from complete recuperating of wounds to keeping away from serious complexities to limit a medical procedure and hospitalization. Because of the impact of the pandemic on significant makers, creation has altogether diminished causing an expansion in the expenses of wound dressings.
In-home care settings, adopting transportable and disposable NPWT models protects patients from reinfections that can result in potential amputations. Also, it eliminates hospital stay expenses and enables the patient to feel comfortable at his own house. A study found that the starting price for NPWT dressing for home care is about USD 90. In order to take advantage of future market prospects, governmental organizations are stressing the improvement in the manufacture of certain NPWT models.
Most of wounds are brought about by transport wounds and street mishaps are one of the significant drivers of the market. Since the pandemic achieved the total undoing of public and confidential transportation, the quantity of patients with wounds requiring clinical consideration has altogether diminished. Generally, we can say that the Coronavirus pandemic adversely affects the market. The frequency of diabetic ulcers among the U.S. populace has been assessed to be 2% yearly, as most would consider to be normal to help the development of the market. Likewise, horrendous accidents are on the ascent in locales like the Asia Pacific. Consumes lead to the total annihilation of the skin delivering the injury bed dry. Consequently, a rising number of such horrible injuries is projected to help the interest for wound therapeutics and in this way the market.
- The disposable NPWT devices, conventional NPWT devices, and NPWT accessories make up the product type category. In 2020, conventional NPWT devices held a market share of 71.23%. This is mostly because these devices are expensive, which boosts the market’s income. In hospitals, these devices are typically utilize for negative pressure wound therapy.
- On the basis of product, the market is segment into Pressure ulcers, burn wounds, venous leg ulcers, diabetic foot ulcers, and others. In 2020, the diabetic foot ulcers segment ruled the market with the largest share of 46.56%. One of the most typical types of chronic disease-related wounds is diabetic foot ulcers. The market is expanding due to the rising use of negative pressure wound treatments for diabetic foot ulcers.
- The hospital, homecare, and other categories make up the end-use section. The home care segment will develop at the highest CAGR of 11.5%. The major factor driving the market’s expansion is the growing use of disposable NPWT devices for home care.
In 2021, North America was the regional market leader, with a significant revenue share of 38.9%. It is due to rising healthcare costs and a well-established healthcare infrastructure. As a result, NPWT devices are now more widely use in hospitals and home healthcare settings. During the forecast period, the market in Asia Pacific will display a profitable CAGR. This is primarily owing to the rise in traumatic incidents like burns, fueling demand for therapy in this area.
- 3M Acelity L.P. Inc.
- ConvaTec Inc.
- Cardinal Health
- Mölnlycke Health Care AB
- PAUL HARTMANN Asia-Pacific Ltd.
- Smith & Nephew
- Medela AG
- Talley Group Ltd.
- Lohmann and Rauscher GmbH & Co. KG
In 2021, the market value of negative pressure wound therapy was USD 2.37 billion, and by 2030 it will be worth USD 3.92 billion, growing at a 5.7% CAGR during the forecast period. Factors such as the rising incidence of obesity and diabetes mellitus, the rise in accident fatalities, the development of affordable disposable NPWT devices, and others are driving the market growth.
Hip Replacement Market Report – The global hip replacement market will witness a robust CAGR of 5.1%, valued at $6.23 billion in 2021, expected to appreciate and reach $9.75 billion by 2030, confirms Strategic Market Research. Total hip replacements are also known as hip arthroplasty or hip resurfacing. Hip replacement surgery is prevalent and effectively reduces pain and stiffness in the hip joint.