The increasing number of surgical procedures, development of technologically advanced products, growing geriatric population, increasing cases of burns, and rising prevalence of diabetes are the major growth drivers for the global single-use negative-pressure wound therapy (NPWT) devices market. Due to the aforementioned factors, the industry is projected to generate $1,673.1 million revenue in 2030, advancing at a CAGR of 8.1% during 2020–2030.
In the beginning of 2020, COVID-19 began to spread around the world, and the government of various countries implemented strict measures, such as lockdowns and social distancing. Owing to these measures and limited operations, the market for single-use NPWT devices was negatively affected.
The market is categorized into surgical wounds, lacerations, burns, pressure ulcers, venous ulcers, diabetic ulcers, and others, on the basis of application. Among all, the surgical wounds category held the largest market share in 2020, and it is expected to retain its dominance during the forecast period. This would mainly be due to the increasing number of C-section surgeries, which require these devices in order to prevent infection after the delivery, and increasing cases of wounds due to all other types of surgeries across the globe.
The market is categorized into hospitals, home-care settings, and others, based on end user. Among these, home-care settings are expected to showcase the fastest growth during the forecast period owing to the rising adoption of home healthcare services for the elderly population.
North America is expected to lead the global single-use NPWT devices market throughout the forecast period. This is mainly attributed to the increasing geriatric population, advancements in single-use NPWT devices and their increasing penetration, and rising number of surgical wound cases in the region.
Asia-Pacific (APAC) is expected to witness the highest growth rate during the forecast period owing to the increasing healthcare expenditure, rising awareness among individuals about the devices, and growing elderly population in countries such as Japan.
Players in the global single-use NPWT devices market have been involved in collaborations and partnerships to remain competitive. For instance, in June 2019, Mölnlycke Health Care AB and Zuellig Pharma Holdings Pte. Ltd. announced their partnership that would focus on providing more-advanced wound care solutions to patients and healthcare practitioners across Southeast Asia.
Similarly, in October 2019, 3M Company acquired Acelity L.P. Inc. and its subsidiaries for a total enterprise value of approximately $6.7 billion, including assumption of debt and other adjustments. This acquisition helped the company expand its medical solution business.
The major players operating in the global single-use NPWT devices are ConvaTec Group plc, Smith & Nephew plc, Mölnlycke Health Care AB, Acelity L.P. Inc., Talley Group Limited, Medela AG, Lohmann & Rauscher GmbH & Co. KG, Carilex Medical GmbH, TRIAGE MEDITECH PVT. LTD., Genadyne Biotechnologies Inc., Paul Hartmann AG, and Devon International Group.