The Global Negative Pressure Wound Therapy Market is Expected to Grow at a CAGR of 5.03% Reaching USD 4.28 Billion by 2026, Assesses DelveInsight

As per DelveInsight Analysis in the Negative Pressure Wound Therapy market, the rising incidence of chronic wounds associated with various chronic disorders and also with the rising incidence of active wounds among others are expected to drive the Negative Pressure Wound Therapy market growth and the patients in their treatment.

LAS VEGAS, April 20, 2022 /PRNewswire/ -- According to the latest report published by DelveInsight "Negative Pressure Wound Therapy Market Insights," the global Negative Pressure Wound Therapy market is expected to witness significant growth owing to an increase in the ageing population, increasing awareness of proper wound care management, rising funding for wound care research, and technological advancements in wound care product offerings, rising incidence of chronic wounds associated with various chronic disorders such as diabetes, ulcers, obesity, and also with the rising incidence of active wounds comprising burns, surgical wounds. This report will provide an in-depth market understanding of Negative Pressure Wound Therapy devices which will further benefit the competitors or stakeholders operating in the Negative Pressure Wound Therapy market.

Key Takeaways from the Negative Pressure Wound Therapy Market

• According to DelveInsight analysis, North America is anticipated to dominate the global Negative Pressure Wound Therapy market during the forecast period.
• The leading Negative Pressure Wound Therapy companies with various negative pressure wound therapy devices such as 3M, Cardinal Health, ConvaTec Group PLC, DeRoyal Industries, Inc., Devon Group, Medela AG, Smith & Nephew PLC, Mölnlycke Health Care AB, Direct Healthcare Group, Accel-Heal Technologies Ltd., B. Braun Melsungen AG, Lohmann & Rauscher, Cenefom Corp., PAUL HARTMANN Asia-Pacific Ltd., Carilex Medical, Chongqing Sunshine Medical Industry and Trading Co., Ltd., Foryou Medical Electronics Co., Ltd., OncoVista Innovative Therapies, Genadyne, Cork Medical, LLC, and others are currently working in the Negative Pressure Wound Therapy market.
• As per the estimates, the global Negative Pressure Wound Therapy market size is expected to reach USD 4.28 billion by 2026.
• In August 2021, Aatru Medical, LLC announced the FDA 510(k) Class II clearance of the NPSIMS™ Negative Pressure Surgical Incision Management System. The FDA-cleared miniaturized device is designed to help heal open wounds after surgery by sealing and holding them shut using gentle suction.
• In April 2021, Joerns Healthcare and Medela announced a nationwide partnership to develop access to innovative negative pressure wound therapy systems. Through this agreement, Joerns will expand its wound care portfolio to include the full Medela line of negative pressure wound therapy products, including the Invia Liberty and Invia Motion 60 NPWT Systems.
• In June 2019, 3M acquired Acelity L.P. Inc. for USD 6.7 billion to enhance its strategy for advanced wound care solutions and accelerate the penetration of NPWT products internationally.
• Thus, owing to the launch of such devices, there will be a rapid growth observed in the Negative Pressure Wound Therapy (NPWT) Devices market during the forecast period.

Interested in knowing how the Negative Pressure Wound Therapy Market will be growing by 2026? Click to get a snapshot of Negative Pressure Wound Therapy Market Analysis

Negative Pressure Wound Therapy 

Negative Pressure Wound Therapy (NPWT), also known as vacuum-assisted wound closure is a wound dressing system that provides continuous or intermittent subatmospheric pressure to the system which further provides positive pressure to the surface of a wound. Negative Pressure Wound Therapy used for treating acute and chronic wounds. These devices are categorized as FDA Class II devices that consist of a vacuum pump, drainage tubing, and wound dressing set requiring electricity to maintain its use. The Negative Pressure Wound Therapy devices are also used to remove fluids such as wound exudate, irrigation fluids, bodily fluids, or infectious materials.

Negative Pressure Wound Therapy Market Insights

Geographically, the global Negative Pressure Wound Therapy market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue North America currently holds the maximum Negative Pressure Wound Therapy market share and is expected to remain constant during the forecast period. This domination can be primarily attributed to the rising prevalence of chronic conditions that ultimately result in chronic, surgical, and traumatic wounds, rising incidence of burn injuries, increase in expenditure on surgical and chronic wounds, and rising technological advancements in this region.

Furthermore, the prompt and well-established healthcare services and infrastructure contributes to the growth of the regional Negative Pressure Wound Therapy Systems market growth. Moreover, the presence of key players in the region and supportive reimbursement programs further provide immense growth opportunities for the Negative Pressure Wound Therapy market.

To know more about why North America is leading the market growth in the Negative Pressure Wound Therapy market, get a snapshot of the report Negative Pressure Wound Therapy Market

Negative Pressure Wound Therapy Market Dynamics

Negative Pressure Wound Therapy market growth is being driven by the rising incidence of chronic and acute wounds associated with various disorders, which is one of the main reasons driving the Negative Pressure Wound Therapy Systems market growth. Moreover, the rising geriatric population is another factor driving the growth of the Negative Pressure Wound Therapy Systems market.

However, factors such as the high cost of these devices and the constant risk of infection associated with reusable Negative Pressure Wound Therapy Systems may limit the growth of the Negative Pressure Wound Therapy market.

In addition to these factors, the Negative Pressure Wound Therapy market witnessed a period of temporary setback owing to the imposing of the lockdown restrictions as necessary measures to contain the COVID-19 spread. One of the major steps during this was the suspension of numerous elective procedures and outpatient visits which reduced the demand for Negative Pressure Wound Therapy Systems in the market as a large number of surgeries across different medical specialties were suspended during the initial lockdown period, thereby limiting the market growth for a short time.  Nevertheless, the Negative Pressure Wound Therapy market is in the period of recovery with the resumption of activities across various domains including healthcare services owing to the approval and administration of numerous COVID-19 vaccines across the globe, thereby presenting a positive future outlook for the Negative Pressure Wound Therapy market during the forecast period from 2021-2026.

However, post-COVID-19 the healthcare system is trying to get normalcy owing to the resumed patent visits, the opening of manufacturing facilities, leverage given in terms of lockdown restrictions among others. Hence, the demand for Negative Pressure Wound Therapy Systems is expected to rise in the market in the post-pandemic scenario during the forecast period.

Get a sneak peek at the negative pressure wound therapy devices market dynamics @ Negative Pressure Wound Therapy Market Dynamics Analysis

Scope of the Negative Pressure Wound Therapy Market Report

• Coverage: Global
• Study Period: 2018-2026
• Market Segmentation By Product Types of Negative Pressure Wound Therapy - Conventional Negative Pressure Wound Therapy Devices, Single-Use Negative Pressure Wound Therapy System
• Market Segmentation By Wound Type - Pressure Ulcers, Diabetic Ulcers, Venous Ulcers, Others
• Market Segmentation By End-User - Hospitals, Specialty Clinics, and Others
• Market Segmentation By Geography - North America, Europe, Asia-Pacific, and Rest of World
• Key Negative Pressure Wound Therapy Companies - 3M, Cardinal Health, ConvaTec Group PLC, DeRoyal Industries, Inc., Devon Group, Medela AG, Smith & Nephew PLC, Mölnlycke Health Care AB, Direct Healthcare Group, Accel-Heal Technologies Ltd., B. Braun Melsungen AG, Lohmann & Rauscher, Cenefom Corp., PAUL HARTMANN Asia-Pacific Ltd., Carilex Medical, Chongqing Sunshine Medical Industry and Trading Co., Ltd., Foryou Medical Electronics Co., Ltd., OncoVista Innovative Therapies, Genadyne, Cork Medical, LLC, among others
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

DelveInsight Analysis: The Negative Pressure Wound Therapy market size is expected to grow at a CAGR of 5.03% during the forecast period from 2021 to 2026 to reach USD 4.28 billion by 2026.

Which MedTech key players in the Negative Pressure Wound Therapy market are set to emerge as the trendsetter explore @ Negative Pressure Wound Therapy Companies

Table of Contents 

Learn more about the types of negative pressure wound therapy @ Negative Pressure Wound Therapy Devices

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SOURCE DelveInsight Business Research, LLP