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The global negative pressure wound therapy (NPWT) devices market was valued at $2,178.4 million in 2019, and it is expected to progress at a CAGR of 7.3% during the forecast period (2020–2030). The major factor behind the growth of the market is the surging prevalence of diabetes, coupled with the booming geriatric population and advancements in NPWT devices.
The rapid spread of COVID-19 has had a significant impact on the global healthcare industry. The pandemic negatively impacted the supply chains of numerous sectors, worldwide, in the first two quarters of 2020 and led to the reduced trade of a number of products, including NPWT devices. In such a scenario, manufacturers of NPWT devices across the globe have been negatively impacted. This has further hampered the growth of negative pressure wound therapy devices market.
Based on product, the conventional category is expected to dominate the negative pressure wound therapy devices market during the forecast period. The leading position of the product category is attributed to the higher acceptability of these devices. These devices are widely used in hospitals and nursing homes, and they are offered by several players. For instance, Cardinal Health Inc. offers the CATALYST and SVED NPWT devices, which are suitable for hospital use.
The chronic wounds category is expected to witness the higher CAGR in the negative pressure wound therapy devices market during the forecast period, on the basis of wound type. Chronic wounds majorly include diabetic foot ulcers, venous leg ulcers, and pressure ulcers. Due to the rising prevalence of diabetes globally, a significant chunk of the population is susceptible to diabetic foot ulcers; thus, the demand for NPWT and associated products is expected to rise during the forecast period.
The hospitals category held the largest share in the negative pressure wound therapy devices market in 2019, on the basis of end user. This can be ascribed to the greater footfall of patients and increasing accessibility of hospitals to populations with varying income. Besides, procedures are performed at hospitals in the presence of trained healthcare professionals. These healthcare settings are mostly the first point of contact for the diagnosis and treatment of wounds, as they provide the best possible care.
North America accounted for the majority share in the global market in 2019, and it is expected to continue being the dominant regional market throughout the forecast period. The regional market is dominated by the U.S., primarily attributed to the growing prevalence of diabetes, since diabetic patients are prone to foot ulcers and subject to slower healing of wounds. According to the Centers for Disease Control and Prevention (CDC), diabetes was the seventh-leading cause of death in the U.S. and 34.2 million people (10.5% of the total population) had it in 2018.
Globally, APAC is expected to advance at the highest CAGR during the forecast period in the negative pressure wound therapy devices market. Some of the factors leading to the quick growth would be the surging prevalence of diabetes, rising number of product launches, and increasing healthcare expenditure in regional countries. According to the International Diabetes Federation (IDF), there were 88 million and 163 million adults with diabetes in the age group 20–79 years in Southeast Asia and the Western Pacific region, respectively, in 2019, and the numbers are projected to rise to 153 million and 212 million, respectively, by 2045.
Moreover, healthcare providers in the region are emphasizing on patient comfort and quick healing, while providing treatment. To meet this requirement, medical device and biotechnology companies are developing technologically advanced wound therapy products. For instance, in February 2019, KCI, a subsidiary of Acelity L.P. Inc., launched its ABTHERA open-abdomen negative pressure therapy system in Japan. Development of such advanced products has positively impacted the growth negative pressure wound therapy devices market.
Globally, the preference of patients is shifting toward advanced wound therapies from traditional wound therapies and devices. Traditional wound care generally involves products that provide “dry” healing, when used for primary dressing, or as supplementary to the primary moist wound healing product, thereby serving as a secondary dressing to hold the primary dressing in place and/or absorb excess exudate. In contrast, advanced wound care therapies offer quick patient recovery, by accelerating the healing process. Thus, the shift in preference toward advanced wound therapies is a major trend in the negative pressure wound therapy devices market.
The increasing cases of burns are the key factor propelling the growth of the negative pressure wound therapy devices market. According to the statistics published in 2018 by the World Health Organization (WHO), an estimated 180,000 deaths are reported due to burns every year, with the majority of these deaths occurring in low- and middle-income countries.
For instance, in 2018, in Bangladesh, Colombia, Egypt, and Pakistan, 17% of children were temporarily differently abled and 18% permanently differently abled due to burns. Furthermore, according to the WHO, over 96% of the fatal fire-related burns occur in low- and middle-income countries, annually. Such statistics suggest that the demand for advanced wound care systems, including NPWT devices, in these countries will increase in the coming years.
The number of diabetic patients is increasing rapidly across the world, which plays significant role in the growth of negative pressure wound therapy devices market. Diabetic foot ulcer is a chronic complication of diabetes mellitus that requires frequent dressing for its management. Additionally, in diabetic patients, wounds tend to heal slowly and develop quickly. According to the statistics published by the CDC in 2020, more than 34.2 million people were diagnosed with diabetes and 34.5% of the adult population with prediabetes in the U.S. in 2018. Further, newly diagnosed cases of diabetes have increased among the youths of the country.
Furthermore, according to the IDF, in 2019, the prevalence of diabetes in adults aged 20–79 years in Southeast Asia was 11.3%, which is projected to increase to 12.6% by 2045. NPWT systems can be expected to be in high demand in such diabetes-prone countries, since diabetics are prone to diabetic foot ulcers and slow wound healing. Thus, with the growing diabetic population, the negative pressure wound therapy devices market is expected to witness strong growth in the coming years.
|Base Year (2019) Market Size||$2,178.4 Million|
|Forecast Period (2020-2030) CAGR||7.3%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Regulatory Scenario, Epidemiology of Chronic Wounds, Segmentation Analysis, Regional and Country Breakdown, Competitive Analysis, Companies’ Strategic Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||By Product, By Wound Type, By End User, By Geography|
|Market Size of Geographies||U.S., Canada, Germany, U.K., France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia|
|Secondary Sources and References (Partial List)||Centers for Disease Control and Prevention, International Diabetes Federation, International Inter-Professional Wound Care Group, International Wound Infection Institute, Journal of Wound Care, National Center for Biotechnology Information, National Alliance of Wound Care and Ostomy, National Heart, Lung, and Blood Institute, World Health Organization|
The global NPWT devices industry is fragmented in nature, with the presence of several key players. In recent years, the major players in the global negative pressure wound therapy devices market have taken several strategic measures, such as partnerships and mergers and acquisitions, to gain a competitive edge.
For instance, in October 2019, 3M Company announced that it has completed the acquisition of Acelity Inc. and its KCI subsidiaries, from a consortium comprised of funds advised by Apax Partners (the Apax Funds), together with the controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and Public Sector Pension Investment Board (PSP Investments), for a total enterprise value of approximately $6.7 billion, including assumption of debt and other adjustments. Acelity is a global medical technology company focused on advanced wound care and specialty surgical solutions marketed under the KCI brand.
In June 2019, ConvaTec Group plc announced that the company has partnered with the European Wound Management Association (EWMA) to launch three research grants for nurses, doctors, and scientists working in the field of wound management. By advancing research and supporting innovation, the EWMA and ConvaTec aim to improve the quality of the care and life of individuals with acute and chronic wounds.
Furthermore, in April 2019, Rehab Medical Inc., a complex rehab technology (CRT) company, merged with Cork Medical LLC. The merger generated two divisions within the companyRehab Medical, which focuses on custom advanced medical equipment, and Cork Medical LLC, which focuses on wound care products.
The negative pressure wound therapy devices market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Product
Based on Wound Type
Based on End User