June 19, 2024
Negative Pressure Wound Therapy (NPWT) Devices Market

The Global Negative Pressure Wound Therapy (NPWT) Devices Market Is Estimated To Propelled By Increasing Prevalence Of Chronic And Acute Wounds

NPWT devices aid in the management of acute and chronic wounds by applying sub-atmospheric pressure to the wound site to promote healing. Such devices help remove excess fluid, decrease bacterial burden and seal the wound edges, accelerating the healing process. With rising cases of diabetic foot ulcers, pressure ulcers, and venous leg ulcers due to sedentary lifestyle and growing geriatric population, the demand for NPWT devices has increased substantially.

The global negative pressure wound therapy (NPWT) devices market is estimated to be valued at US$ 19,051.6 million in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031.

Market key trends:

The increasing prevalence of chronic and acute wounds has been a key driving factor for the NPWT devices market. Chronic wounds affect around 6.5 million patients in the US annually and require long term care and treatment. Moreover, the rate of chronic wounds is rising globally owing to the growing incidence of obesity, diabetes and vascular diseases. NPWT has been found highly effective in managing such hard-to-heal wounds. This has led to wider adoption of NPWT devices among healthcare facilities, thereby propelling market growth over the forecast period.

SWOT Analysis
Strength: NPWT devices provide advanced wound care management and allow for faster healing compared to traditional wound dressing methods. They remove excess exudate and create a moist wound healing environment.
Weakness: NPWT devices can be expensive for patients and healthcare systems depending on the type and duration of use. Some wounds may not be suitable for NPWT and require alternative treatment methods.
Opportunity: The rising incidence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and surgical & traumatic wounds present an opportunity for growth of the NPWT devices market. Home healthcare and ambulatory services also allow for more use of NPWT.
Threats: Development of alternative advanced wound care products, such as skin & wound care biologics may hamper the demand for NPWT devices. Reimbursement issues in some countries pose another challenge.

Key Takeaways
Global Negative Pressure Wound Therapy (NPWT) Devices Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to grow from US$ 19051.6 Mn  in 2024 to US$ 28457.3 Mn by 2031, at a CAGR of 3.6%.

Regional analysis
North America currently dominates the NPWT devices market owing to high incidence of chronic wounds, well-developed healthcare infrastructure, and favorable reimbursement policies. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising medical tourism, healthcare spending, and increasing prevalence of diabetes in the region.

Key players
Key players operating in the Negative Pressure Wound Therapy (NPWT) Devices market are Abbott, Morinaga Milk Industry CO., LTD., RELAX EXCELLENCE IN LACTULOSE, FRESENIUS KABI, BIOFAC A/S and Lactose India Limited. These players are focusing on new product launches and geographical expansion to strengthen their market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it