The demand for healthcare resources is escalating as population demographics evolve, long-term conditions become more common, patient expectations surge, and medical technology becomes more advanced. An aging population, as well as modern lifestyle changes, is catalysts for an augmented occurrence of chronic ailments such as diabetes and cardiovascular disease. As the elderly population increases, so too does the prevalence of chronic wounds, thus illustrating a robust demand for wound therapy devices.
NPWT devices have revolutionized wound management, offering significant benefits in terms of both wound healing and patient care. Initially, the technology was bulky and not suitable for use in community settings, but advances in technology have led to the development of smaller, more mobile systems. Chronic and acute wounds can be costly to both patients and the health economy, often resulting in pain, anxiety, and reduced quality of life. By improving wound management and facilitating mobility, NPWT has revolutionized the healing of wounds since it was introduced in the 1990s. The evolution of technology in this area has enabled a modality with the capability to provide tailored therapies for each patient's individual needs. This has been advantageous to clinicians, simplifying the process of applying dressings and setting programs.
NPWT systems are designated as FDA Class II devices, comprising drainage tubing, vacuum pump, and wound dressing set powered by electricity. This device is indicated for the application of negative pressure to facilitate wound healing and removal of wound exudate, bodily fluids, irrigation fluids, and infectious materials.
The availability of NPWT devices in the community has had a significant impact on improving the lives of patients with wounds, enabling them to receive care at home. With advancements in technology, NPWT devices have become smaller and more suitable for single use, allowing patients to continue their daily activities.
Unfortunately, the burden of chronic wounds is continuously rising, prompting service providers to bridge the gap between supply and demand to ensure effective, safe, and person-centered care. The burden of illness is placing immense pressure on the healthcare landscape, necessitating efficiency, product, and technological innovation, as well as various treatment options to address the increasing challenges. Given the current demographic shift due to the aging population, the outlook for wound therapy devices such as NPWT is promising.
The increasing prevalence of chronic diseases, the rise in the world's geriatric population, and the growing number of road accidents are all contributing factors to the growth of the global market. Negative Pressure Wound Therapy (NPWT) is a highly effective interventional therapy that actively supports wound healing and has a range of benefits, such as promoting wound healing, relieving wound symptoms, and improving the quality of life for those with wounds. NPWT is one of the most significant technological advancements in recent times and has the potential to revolutionize wound care.
In the past decade, the prevalence of chronic wounds has increased significantly due to the expanding global geriatric population and the growing prevalence of obesity and diabetes. This can lead to complicated wounds, such as infections, ulcerations (foot or leg ulcers), and surgical wounds, which require treatment and incur high medical costs. Therefore, it is expected that the rising incidence of chronic wounds, caused by the increasing prevalence of obesity and diabetes, will drive the growth of the NPWT devices market in the forecast period.
The global negative pressure wound therapy (npwt) market is to increase from US$ 2,460 million in 2020 to US$ 3,170 million by 2025 with a compound annual growth rate (CAGR) of 5.2% for the period 2020-2025. Some of the prominent players in the negative pressure wound therapy (npwt) market are Acelity L.P.Inc, Cardinal Health, Inc., Convatec Group Plc , Deroyal Inc., Genadyne Biotechnologies, Inc., Lohmann & Rauscher Gmbh & Co. Kg, Medela Ag, Molnlycke Health Care Ab, Smith & Nephew Plc, Talley Group Ltd. The research report on the global negative pressure wound therapy (npwt) market provides extensive competition analysis and competitive conditions. The report includes information on significant products, players, challenges and developments, and other information specific to the negative pressure wound therapy (npwt) market. The global economy is highly affected by the COVID-19. Various sectors in the economy are much affected by this pandemic. It is anticipated that the global economy will decline because of the loss of trillions of dollars. The growing extension and imposition of lockdown in various countries directly affect the economy all over the world. The report consists of a chapter that provides a detailed study of the impact of COVID-19 on the negative pressure wound therapy (npwt) market. The data in this report is targeted for business and industry practitioners and specifically intended to assist in the explanation, direction, and to understand the potential of the negative pressure wound therapy (npwt) markets. The study focuses on providing readers with an understanding of developments in the industry, market segments, market forecasts, leading players, and market drivers and inhibitors.
- Goals and objectives of the study
- Understanding the opportunities and advancements of negative pressure wound therapy (npwt) is determining the market highlights, along with the foremost regions and countries involved in the growth of the market.
- To study the diverse segments of the negative pressure wound therapy (npwt) market and the dynamics of negative pressure wound therapy (npwt) in the market.
- To categorize segments of negative pressure wound therapy (npwt) with escalating growing potential and to value the futuristic market of the segments.
- To analyze the major trends related to different segments that help in figuring and persuading the negative pressure wound therapy (npwt) market.
- To check region-specific growth and development in the negative pressure wound therapy (npwt) market.
- To understand the foremost stakeholders of the negative pressure wound therapy (npwt) market and the value of the competitive landscape of the leaders of the negative pressure wound therapy (npwt) market.
- To study the key plans, initiatives, and strategies for the development of the negative pressure wound therapy (npwt) market.
Chapter 2, Market Overview provides an overview of the negative pressure wound therapy (npwt) market. The chapter includes macro-economic factors, market determinants (includes market drivers, restraints, opportunities, and challenges), value chain analysis, technology/product roadmap, Porter 5 force model analysis, market growth opportunity analysis.
Chapter 3, Segment Analysis of the study deals with the different sub-segments of the market to calculate reliable market forecasts. The chapter provides an in-depth analysis of the market segments of the negative pressure wound therapy (npwt) market, year-on-year growth projections that enable readers to identify potential market growth areas.
- Market Segmentation
- Based on product, the global negative pressure wound therapy (npwt) market is segmenting into accessories, conventional npwt devices, single-use npwt devices.
- Based on wound type, the negative pressure wound therapy (npwt) market is segmenting into burns, surgical and traumatic wounds, ulcers.
- Based on end user, the negative pressure wound therapy (npwt) market is segmenting into home care settings, hospitals, other.
Chapter 4, Regional Analysis includes an in-depth analysis of the negative pressure wound therapy (npwt) market by regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The report also includes a comprehensive analysis of the market in key countries such as the United States, Canada, Germany, France, Italy, Spain, China, India, Japan, the GCC, South Africa, Brazil, Mexico, and the rest of the world. Regional insight helps market competitors to make crucial decisions about their company. Individualized, country-wise, and segment-wise analyses by region allow readers of the negative pressure wound therapy (npwt) market report to explore the potential of the market in different geographies. For each year's growth projections and a global share of value, this section is a vital part of the report.
Chapter 5, Competitive Analysis of the report includes company shares analysis, a list of acquisitions, mergers, collaboration, and the introduction of new products.
Chapter 6, Company Profile of the report also covers key industry players working on the negative pressure wound therapy (npwt) market. The report also discusses the business strategies adopted by the players at the global, regional, and country-level. The study also focuses on various businesses or inorganic business development strategies for expanding consumer networks through product formation, organization extension, partnerships, mergers, and acquisitions.
The study offers an exhaustive summary and estimate of the global negative pressure wound therapy (npwt) market. It includes in-depth qualitative and quantitative analyses in the report that aligned with the goals and objectives of our customers. Projections have been confirmed by comprehensive primary and secondary analysis. The study will encourage clients to invest in the negative pressure wound therapy (npwt) market based on the current business situation, trends, and potential developments in the segments. Understanding the requirement of the client, the report delivers specialist insights into the global negative pressure wound therapy (npwt) market, its products, and market patterns.
