Negative Pressure Wound Therapy (NPWT) Market Overview
The global negative pressure wound therapy market generated $2,057.1 million revenue in 2018, and is expected to advance at a CAGR of 6.6% during the forecast period. The market growth can be attributed to the increasing cases of burns, rising prevalence of diabetes,growing geriatric population, and high rate of caesarean section (C-section) leading to increasing post-operative use of NPWT devices.
NPWT, also known as vacuum-assisted wound closure, refers to wound dressing system that continuously or intermittently applies sub-atmospheric pressure to the surface of a wound. It is an advanced wound care therapy used in the treatment of chronic and acute wounds, and second- and third-degree burns.
Conventional and single-use are the two major types of products available in the negative pressure wound therapy market. Other than these, accessories are used for NPWT devices. Among these products, conventional NPWT devices held 51.1% share in the market in 2018. This largest share can be attributed to the fact that the conventional devices are being used for a longer time. Besides, patients are not required to set up any device on their own, which is also a factor driving the growth of this category.
However, owing to the compactness of single-use NPWT devices, this category is expected to witness the fastest growth, advancing at a CAGR of 7.0% during the forecast period. These devices are easier to carry and can be used comfortably within the home care settings by the patients.
Based on wound type, the negative pressure wound therapy market is bifurcated into chronic wounds and acute wounds. Between the two types, chronic wounds are expected to be larger revenue generating category, and are expected to hold more than 70% share by 2024 in this market. Rising deskbound lifestyle due to technological advancements is eventually leading to health concerns like obesity, diabetes, and cardiovascular diseases. For the management of these conditions, various wound therapy devices, including NPWT systems, are being largely adopted these days.
Negative Pressure Wound Therapy (NPWT) Market Dynamics
High rate of C-section surgeries leading to increasing post-operative use of NPWT devices; increasing cases of burns; rising prevalence of diabetes; and growing geriatric population are among the prominent factors for the growth of the negative pressure wound therapy market.
Increasing cases of burns are greatly driving the growth of the negative pressure wound therapy market. According to the statistics published by the World Health Organization (WHO) in 2018, an estimated 180,000 deaths every year are caused by burns, with a majority of these deaths occurring in low- and middle-income countries. Also, burns are one of the leading causes of disability-adjusted life years (DALY) in these countries.
In India, over 1,000,000 people are moderately or severely burnt every year. Moreover, in Bangladesh, Colombia, Egypt, and Pakistan, 17% of children with burns have temporary disability, and 18% have permanent disability. These statistics suggest that the demand for advanced wound care systems, including NPWT systems, will expand in these countries in the coming years, due to their quick healing and patient comfort advantages.
Growing geriatric population is another major factor driving the growth of the negative pressure wound therapy market, since the geriatric population is more susceptible to chronic diseases, leading to chronic wounds. According to the National Institutes of Health, in 2015, 8.5% of the total population, globally, was aged 65 years and above, and this percentage is expected to reach 17.0% by 2050. Moreover, according to the Population Reference Bureau, the total number of Americans aged 65 years and older is expected to increase two-fold, from 46 million in 2014 to over 98 million by 2060.
Shift in the preference toward advanced wound therapies is a notable trend in the negative pressure wound therapy market. Globally, the preference of patients is shifting toward advanced wound therapies, as compared to traditional wound therapies and devices. Traditional wound care therapies generally involve products that provide “dry” healing when used for primary dressing; or supplementary to a primary moist wound healing product (serving as a secondary dressing to hold the primary dressing in place and/or absorb excess exudate). Whereas, advance wound care therapies involve quick patient recovery, by accelerating the healing process. Besides, there are a number of articles that suggest NPWT as a better wound care therapy, than traditional therapies and devices for wound care. The National Center for Biotechnology Information (NCBI) published an article in 2018 stated that NPWT is beneficial in terms of wound care, and enhances protein and collagen production and diminishes bacteria colonization in patients.
Negative Pressure Wound Therapy (NPWT) Market Competitive Landscape
Players in the negative pressure wound therapy market are launching advanced products to expand their market share. For instance, in December 2018, Smith & Nephew plc announced the launch of new PICO 7 single use negative pressure wound therapy system in the U.S. This device is reported to deliver more efficient vacuum and superior leak management as compared to its previous version. It is also more than 25% quieter than the previous version, providing better patient comfort.
Some of the key players operating in the global negative pressure wound therapy market are Devon International Group, DeRoyal Industries, Smith & Nephew plc, Acelity L.P. Inc., ATMOS MedizinTechnik GmbH & Co. KG, Talley Group Limited, Cardinal Health, Medela AG, Lohmann & Rauscher GmbH & Co. KG, Carilex Medical, TRIAGE MEDITECH, Shandog Wego Newlife Medical Device, ConvaTec Group Plc, Mölnlycke Health Care AB, B. Braun Melsungen AG, Genadyne Biotechnologies Inc., BSN medical GmbH, and Cork Medical LLC.