by Negative pressure wound therapy (NPWT) devices are widely being adopted for managing acute and chronic wounds such as pressure ulcers, leg ulcers, and diabetic foot ulcers. NPWT involves applying sub-atmospheric pressure to the wound and continually removing exudate and infectious materials to facilitate wound healing. The technology helps in debridement of wounds, promotes blood flow and angiogenesis, encourages granulation tissue formation, reduces edema, and closes wounds rapidly.
The global negative pressure wound therapy (NPWT) devices market is estimated to be valued at US$ 19051.6 million in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period from 2024 to 2031.
Increasing incidence of diabetes and associated chronic wounds, rise in aging population, product innovations, and advantages of NPWT over traditional wound healing methods are some of the major growth drivers of this market.
Key Takeaways
Key players operating in the negative pressure wound therapy (NPWT) devices are Abbott, Morinaga Milk Industry CO., LTD., RELAX EXCELLENCE IN LACTULOSE, FRESENIUS KABI, BIOFAC A/S and Lactose India Limited. These companies are focused on new product launches and partnerships to strengthen their market position.
The rising prevalence of diabetes worldwide presents significant growth opportunities for players in this market. According to IDF, approximately 537 million adults were living with diabetes in 2021 globally. Diabetic foot ulcer is a major complication of diabetes and a leading cause of non-traumatic lower extremity amputation.
North America dominated the global Negative Pressure Wound Therapy (Npwt) Devices Market Demand in 2024 due to growing burden of chronic wounds coupled with favorable reimbursement policies. However, Asia Pacific region is expected to exhibit fastest growth during the forecast period owing to increasing healthcare expenditure and infrastructure development in developing countries.
Market drivers
The increasing incidence of diabetes is a major growth driver for this market. Diabetes-related chronic wounds such as diabetic foot ulcers pose a significant burden. It has been estimated that 15% of diabetic patients suffer from foot ulcers during their lifetime. These hard-to-heal wounds often require advanced wound care technologies like NPWT.
PEST Analysis
Political: The healthcare industry is regulated by numerous government policies and regulations regarding product approval and reimbursement. Changes in regulations can impact the sales and profitability of NPWT devices.
Economic: Rising healthcare expenditures and increasing prevalence of chronic wounds are driving the demand for advanced wound care products like NPWT devices. However, economic slowdowns can reduce the budget for wound care products.
Social: With growing geriatric population and increasing incidence of lifestyle diseases, the need for effective wound management is increasing. This is creating opportunities for advanced wound care solutions. However, social stigma associated with certain types of wounds may limit the adoption of NPWT devices.
Technological: Recent technological advancements in wound care therapies like single-use NPWT systems and disposable portable NPWT devices are fueling the market growth. Ongoing R&D is expanding the applications of NPWT therapy in acute wounds, surgical wounds, and other hard-to-heal wounds.
The market for Negative Pressure Wound Therapy (NPWT) Devices Market is concentrated highly in North America and Europe owing to growing demand for advanced wound care products and developed healthcare infrastructure in these regions. Both regions collectively accounted for over 70% of the global market value in 2024.
Asia Pacific is projected to be the fastest growing regional market during the forecast period. This can be attributed to factors like rising medical tourism, increasing healthcare spending, growing burden of chronic diseases, rising awareness about advanced wound management therapies, and presence of emerging economies like China and India with huge patient pools.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
